Frasers will manage 210 ultra-deluxe apartments in the property, Frasers Suites Kuningan, at Ciptutra World 2. Located in the heart of Jakarta’s golden triangle, it comprises twin towers of 45 storeys each. The complex, which also includes the W Hotel, is expected to be completed in 2014, by which time Frasers will add another two properties to its list in Jakarta. That will bring the total number of apartments Frasers will own or manage in the city to 600.

“As one of the fastest growing countries in the region, Indonesia offers tremendous potential for Frasers Hospitality, particularly with the country’s recovery of its investment-grade status from global rating agency Fitch Ratings, which is expected to attract a further influx of foreign investment,” said Frasers chief executive Choe Peng Sum.

“This in turn will drive a further demand for premium serviced residences, which we are well positioned to meet, as we continue to establish a strong Frasers presence.”

The first complex, which the group owns, has a current occupancy level of 85 per cent for its 108 apartments, Mr Choe said. “That has been a good investment and it is now valued at more than double the S$32 million we paid some one-and-a-half years ago.”

He said the group was also looking for properties outside of the capital, especially in Surabaya and Medan.

Frasers, Singapore’s second largest serviced apartment operator after CapitaLand’s Ascott, currently owns and/or manages about 6,000 apartments in over 30 cities worldwide. It is planning for another 6,000 to come onstream over the next 18 months.

Source : Today – 13 Jan 2012

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Indonesia’s booming economy has led to increased demand for office space and Mr Ang Wee Gee, executive director and chief executive officer (international) of Keppel Land International Limited, said: “Our new office tower will meet the demand of tenants seeking well-designed and sustainable buildings in Jakarta’s central business district.”

The 10-storey Tower 2 of Barclays House can be redeveloped into a 40-storey building with a maximum gross floor area of 56,000 square metres. The building was completed in 1985. The redevelopment is expected to take three years and will cost about Rp $636 billion ($95 million).

Upon its expected completion in 2014, the new tower will comprise of larger floor plates and green features – which include high-efficiency mechanical and electrical equipment as well as energy and water saving fixtures.

Barclays House has a total net lettable area of 38,093 sq m. The property is located amid five star hotels, embassies and popular shopping centres in Jakarta’s Jalan Sudirman.

“We are confident that Keppel Land’s commercial properties will continue to be the preferred business address of major financial institutions and multi national corporations, Mr Ang added.

Source : Today – 6 Sep 2010

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