Frasers Hospitality has strengthened its presence in Indonesia with the launch of its third serviced residence in Jakarta.
The Fraser Place Setiabudi is set in a 31-storey tower on Jalan Karbela Selatan in central Jakarta’s Golden Triangle area. It offers 151 units, all featuring separate living, dining and bedroom areas, plus kitchens and washer-dryers.
“Indonesia is a key growth market for us and our confidence is reflected in the fact that more than 20% of our Southeast Asian properties are located in Jakarta,” said Choe Peng Sum, CEO of Frasers Hospitality.
“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.”
Frasers is planning to increase its Jakarta portfolio to a total of eight properties with more than 1,300 units by 2019.