Frasers Hospitality today says it will manage its first Modena serviced apartments in Vietnam and the first outside China.

The 84-unit Modena Hanoi, scheduled for completion in 2011, is located just five kilometres away from the Hanoi international airport and in close proximity to the city’s major Quang Minh and Thang Long industrial zones.

Established under the Frasers Hospitality umbrella in 2009, the Modena brand – which is targeted at  business travellers who spend much of their time on the road – has another six properties on the drawing board in other Asian cities.

Modena apartments are equipped with modern conveniences such as a delicatessen-cum-grocery, iPod docking stations in its facilities and even a laundromat with hi-speed internet access.

“Vietnam is one of the fastest growing markets of Asia, driven by the country’s strong macroeconomic growth and rapid urbanisation,” says Frasers Hospitality CEO Choe Peng Sum, “Establishing Fraser Suites Hanoi in 2009 and now Modena Hanoi reflect our confidence in the strong potential of Hanoi’s serviced apartment market from both corporate and consumer viewpoints with current occupancy rates in the hospitality industry at 95%.”

The Modena brand made its debut in China in January 2010 with the opening of the 104-unit Modena Tianjin, followed by Modena Putuo Shanghai which opened in May this year.

Another four China properties are on the drawing board – in Suzhou Jinjihu (2010, Q3), Suzhou Ligongdi (2011, Q1), Wuxi (2012, Q1), Wuhan (2012, Q4) - and are due to open within the next two years.

Modena Changi City in Singapore, which will be the brand’s flagship property with 313 units, is scheduled to open in 2012.

Frasers Hospitality currently manages 35 properties — a total of 5,000 individual residences — in 21 cities worldwide. This year, the company’s portfolio increases by a further ten properties, eight under the Fraser brand and two under the new Modena brand.