Frasers Hospitality Strengthens Foothold in Southeast Asia’s Largest Economy

Frasers Hospitality Strengthens Foothold in Southeast Asia’s Largest Economy

New serviced residence in iconic Ciputra World 2 Jakarta anchors Frasers Hospitality’s position as Indonesia’s Leading Serviced Apartment Brand[1]

Singapore, 24 January 2017 – In line with plans to anchor its presence in the largest economy in Southeast Asia[1], Frasers Hospitality Group, a division of Frasers Centrepoint Limited, will be launching Fraser Suites Kuningan in 2017. This will be the group’s fourth property launched, with another five in the pipeline, bringing its Jakarta portfolio to a total of nine by 2019.

Fraser Suites Kuningan is part of the prestigious Ciputra World 2 Jakarta, an iconic mixed-use development in the heart of Jakarta's Golden Triangle. The luxurious 210-unit serviced residence is the newest addition to Frasers Hospitality Group’s growing footprint in the Indonesian capital, putting Frasers Hospitality Group on track to meet its target of exceeding 1,500 units in Jakarta by 2019. The group commenced operations in Jakarta with the opening of Fraser Residence Sudirman in 2011. This was followed by the recent openings of Fraser Residence Menteng in 2014 and Fraser Place Setiabudi in 2016, which have all been enjoying steady occupancy rates exceeding 75%.  

Affirming its leading position in the country, Frasers Hospitality Group was recently named ‘Indonesia’s Leading Serviced Apartment Brand 2016’ by the Indonesia Travel Tourism Industry. The opening of Fraser Suites Kuningan reinforces the group’s commitment to and confidence in Indonesia’s long-term growth potential. Stronger economic growth will be supported by robust domestic demand as well as the Indonesian government’s ongoing reforms to improve the country’s infrastructure and business environment[2].

Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality Group, said: “Frasers Hospitality has established a strong foothold in Jakarta and we are planning to strengthen our leadership position in the Indonesian capital in the year ahead. As Indonesia’s economic, cultural and political centre, Jakarta continues to be the main hub and corporate headquarters for Indonesian and multinational corporations, and remains a key market for our strategic expansion plans in Southeast Asia. The government has also made significant strides in reforming the business environment and Indonesia now ranks among the top 10 improvers in the World Bank’s Doing Business 2017: Equal Opportunity for All Report[3]. These developments will further increase foreign investments in the country and our strategic expansion in Jakarta will cater to rising demand for quality accommodation by corporate and leisure travellers.”

“With a strong estimated growth rate of 5.3% for 2017[4], Indonesia continues to be of strategic significance to the group's global plans and we seek to further expand across key regions and secondary cities in the country such as Bali, Bandung, Medan, Surabaya and Yogyakarta. We are delighted to partner the Ciputra group to feature our Gold-Standard serviced residence in this prestigious mixed-use development complex which is an important hub for national and multinational corporations.” he added.

Situated within Ciputra World 2 Jakarta, a distinctive new Jakarta landmark designed by award-winning SCDA Architects, Fraser Suites Kuningan is a Gold-Standard serviced residence standing at 31 floors set in one of the capital city’s most vibrant and dynamic areas. Strategically located in Jalan Profesor Dokter Satrio, an emerging financial, shopping and art district, it offers easy access to the Mega Kuningan Business District and is also in close proximity to major developments including Ciputra World, ITC Kuningan and Kuningan City.

Fraser Suites Kuningan offers a diverse selection of studio, one-, two- and three-bedroom serviced apartments in the heart of the vibrant capital city, catering to the growing demand for both short- and long-term stays of business and leisure travellers. In addition, residents enjoy a wide range of business and lifestyle amenities, including state-of-the-art meeting and conference facilities, a 24-hour private lobby, spa facilities, a swimming pool, a tennis court, a private library, a bar and a lounge.

Frasers Hospitality Group’s global portfolio, including those in the pipeline, stands at 140 properties[5] in more than 80 cities and 23,400 keys worldwide.

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[1] World Bank, “Indonesia - Overview”, Available here:  http://www.worldbank.org/en/country/indonesia/overview

[2] World Bank, “Indonesia Economic Quarterly (January 2017)”, Page i. Available here: http://www.indonesia-investments.com/upload/documents/IEQJAN2017ENG.pdf

[3] World Bank, “Doing Business 2017: Equal Opportunity for All”, Page 8. Available here: http://www.doingbusiness.org/~/media/WBG/DoingBusiness/Documents/Annual-Reports/English/DB17-Report.pdf

[4] World Bank, “Indonesia Economic Quarterly (January 2017)”. Available here: http://www.indonesia-investments.com/upload/documents/IEQJAN2017ENG.pdf

[5] Including properties under management contracts

[1] Frasers Hospitality was named ‘Indonesia’s Leading Serviced Apartment Brand 2016’ by the Indonesia Travel Tourism Industry