21 Apr

Ascott Boosts Its Presence In Indonesia With Second Citadines Serviced Residence

Citadines Jakarta Rasuna will be Ascott's 8th property in Indonesia

Singapore, 21 April 2010
– CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott) has secured a contract to manage its second Citadines-branded serviced residence in Indonesia. To be named Citadines Jakarta Rasuna, the new serviced residence will reinforce Ascott's position as the largest international serviced residence owner-operator in Indonesia with over 1,600 apartment units in eight properties in Jakarta and Surabaya. Citadines Jakarta Rasuna is expected to be completed in 2011 while the first Citadines property in Indonesia, Citadines Jakarta Quartier, will open in the second half of 2010.

Mr Alfred Ong, Ascott's Managing Director for Southeast Asia and Australia said: “There's a strong growth potential for Ascott in Indonesia as more travellers are choosing serviced residences over other accommodation options. Our properties are also performing well with an average occupancy of about 80%. With Citadines Jakarta Rasuna and Citadines Jakarta Quartier, we will be able to cater to the growing segment of savvy travellers who want the flexibility to choose the services they desire to create their unique stay experience. Travellers to Indonesia will now have a wider choice and be able to enjoy the quality hospitality they have come to know of our three brands – Ascott, Somerset and Citadines.”

Providing residents a vibrant urban living experience with unparalleled convenience, Citadines Jakarta Rasuna will be situated along the main arterial roads of Jakarta city centre with several restaurants, supermarkets and shopping centres peppered throughout the area. The Kuningan Stadium and the Gran Kuningan Driving Range are just across the road and several embassies are also within walking distance from the property. Part of a stylish 30-storey urban development known as The H Tower that also comprises offices, specialist clinics and premier medical care facilities, residents of Citadines Jakarta Rasuna will enjoy the privacy and comfort of home as the serviced residence will maintain its own distinct lobby and facilities.

The new development will also be an extension of the existing Rumah Sakit Metropolitan Medical Center. With several commercial buildings in the area such as the Bakrie Tower and Setiabudi One Building, the new Citadines Jakarta Rasuna is poised to not only ride on the burgeoning trend of medical tourism but also cater to the needs of business travellers, expatriates and visitors in the city.

The contract to manage Citadines Jakarta Rasuna is awarded by PT Hutama Karya (Persero), a leading state-owned enterprise in Indonesia established since 1961. Said its General Manager of Business Development, Mr Putut Ariwibowo: "We have built a reputation as a trusted developer of high-rise buildings over the past decade. The H Tower development reaffirms our commitment to quality, attention to details and solid project execution capabilities. Ascott is the world's largest international serviced residence owner-operator and has been established in Indonesia for about 15 years. We hope to tap on Ascott's experience in managing award-winning properties worldwide to enhance the value of our development.”

When completed in 2011, the 135-unit Citadines Jakarta Rasuna will offer a range of studio, one- to three-bedroom stylish apartments. Whether it is working out at the gymnasium or enjoying a leisurely swim in the pool, residents can feel right at home with a host of modern facilities that will be available at Citadines Jakarta Rasuna.

Meanwhile, travellers can look forward to the opening of the 135-unit Citadines Jakarta Quartier, which combines the bustle of city living in the central business district with the tranquillity of the Dutch colonial enclave of Menteng.

About The Ascott Limited

Ascott is the world's largest international serviced residence owner-operator with over 19,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as around 6,000 units which are under development, making a total of over 25,000.

The company operates three brands – Ascott, Somerset and Citadines. Its portfolio spans 69 cities in 22 countries, 11 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world's first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 26- year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include TTG China Travel Awards 2010 "Best Serviced Residence Operator in China", DestinAsian Readers' Choice Awards 2010 "Best Serviced Residence in Asia Pacific", TTG Travel Awards 2009 "Best Serviced Residence Operator", Business Traveller UK Awards 2009 "Best Serviced Apartment Company" and Business Traveller Asia Pacific Awards 2009 "Best Serviced Residence Brand" and "Best Serviced Residence in Asia Pacific".

About CapitaLand Group

CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed subsidiaries and associates of CapitaLand include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.

Joan Tan, Assistant Vice President, Corporate Communications

Tel: (65) 6500 3401   

HP: (65) 9743 9503   

Email: joan.tan@the-ascott.com

Jasmine Sim, Assistant Manager, Corporate Communications

Tel: (65) 6500 3404   

HP: (65) 9686 2859   

Email: jasmine.sim@the-ascott.com