Frasers Hospitality Strengthens Jakarta Foothold

Fraser Place Setiabudi adds to more than 1,300 units in Indonesia by 2019

March 30, 2016

Frasers Hospitality, a division of Frasers Centrepoint Limited ("FCL"), strengthens its presence in Indonesia with the launch of its third serviced residence in the Indonesian capital of Jakarta, Fraser Place Setiabudi.

Heralding its plans to further boost its foothold in Southeast Asia’s largest economy, the opening of the 151-unit Gold-Standard serviced residence will bring Frasers Hospitality's Jakarta portfolio to a total of eight properties with more than 1,300 units by 2019.

Mr Choe Peng Sum, Chief Executive Officer of Frasers Hospitality said, "Indonesia is a key growth market for us and our confidence is reflected in the fact that more than 20 percent of our Southeast Asian properties are located in Jakarta. With GDP growth of 5.4% expected for 2016 and the government’s efforts to attract 12 million foreign tourists by 2016 , Indonesia is well on its way to achieving its goal of becoming one of the top ten advanced economies in the world by 2025 . We are very confident of its growth potential as it continues to forge ahead with infrastructure plans and diversifies its economy to further develop growth sectors such as manufacturing."

"Catering to long-staying residents, our first two Jakarta properties, Fraser Residence Sudirman and Fraser Residence Menteng, have continued to enjoy steady occupancies throughout the year. With the anticipated trend of shorter and more frequent stays by business travellers, our new properties in Jakarta will feature a larger number of one and two-bedroom apartments to specifically cater to this demand," he added.

Fraser Place Setiabudi is a Gold-Standard serviced residence towering 31 storeys above the central business district of Jakarta's Golden Triangle. Strategically located along Jalan Karbela Selatan, it is close to multinational corporations, international schools, restaurants and leisure options, and enjoys easy access to the city's popular destinations. Set within extensive and lush gardens, it offers a range of serviced apartments featuring separate living, dining, and bedroom areas, modern and well-equipped kitchens, comprehensive home entertainment systems and washer-dryers, complete with daily housekeeping services. Ideal for business and leisure travellers, a myriad of recreational and business facilities are available as well.

Frasers Hospitality's global portfolio, including those in the pipeline, stands at 140 properties in 77 cities and more than 22,500 keys worldwide.

Media Contact

Joanne Belford
Frasers Hospitality
T: +61 2 8823 8855
E: joanne.belford@frasershospitality.com