The company invests SG$250m in a new property in Tokyo’s Ginza district
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Clifford Chance advised a Singapore-headquartered global properties giant making a major investment in Tokyo.
The Magic Circle outfit acted for Frasers Hospitality on its SG$250m investment to build a new serviced residence in Tokyo’s Ginza district. Expected to open by 2020, the project will be under the company’s “Capri by Fraser” banner, its millennial-focused hotel residence brand.
The work continues Clifford Chance’s relationship with the property developer and manager in Japan. In 2016, the firm advised Frasers Hospitality on its selection as manager of a serviced residence in Tokyo’s Akasaka district. The project, which is under the company’s “Fraser Suites” brand, is also expected to be opened in 2020.
Partner Leng-Fong Lai led the Clifford Chance team on the deal. Partner Eiichi Kanda, senior associate Yoshiaki Shimizu, and associate Yosuke Nomura were also part of the team.
Leng-Fong said that the Tokyo hotel market is currently “buoyant.”
“We expect more growth in this sector with the increasing number of visitors to Japan and the run up to the 2020 Olympics,” he said.
