Frasers Hospitality is increasing its presence in Jakarta with the planned launches of four Fraser-branded gold-standard service residences over the next three years, according to a report by The Business Times.
“Indonesia has very strong fundamentals and has just unveiled an ambitious masterplan to turn its economy into one of the world’s 10 largest by 2030,” said Choe Peng Sum, Chief Executive of Frasers Hospitality.
“Foreign direct investment, important in our business, jumped 52 percent to US$16.2 billion.”
The first project, which opened on 1 June, was the US$30 million Fraser Residence Sudirman Jakarta. Together with three other developments in the pipeline, these projects will add a total of 500 serviced residences to the company’s current 108 serviced residence units in the country.
Mr. Choe noted that serviced residences saw an average occupancy rate of 80 percent, while hotels recorded 73 percent.
Located in Jakarta’s “Golden Triangle” central business district (CBD), Fraser Residence Sudirman Jakarta is close to government departments, offices, medical facilities and shopping malls. It offers flexible leases, which is a boon for companies that send business executives on short- to medium-term stints.
The development also features 24-hour reception, centralised security, business centre services, hot and cold dip pools, sauna and steam rooms, an Olympic-length swimming pool, tennis and squash courts and a fitness centre.
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