CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott) has secured a contract to manage its second Citadines-branded serviced residence in Indonesia. To be named Citadines Jakarta Rasuna, the new serviced residence will reinforce Ascott’s position as the largest international serviced residence owner-operator in Indonesia with over 1,600 apartment units in eight properties in Jakarta and Surabaya.

Citadines Jakarta Rasuna is expected to be completed in 2011 while the first Citadines property in Indonesia, Citadines Jakarta Quartier, will open in the second half of 2010.

Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia said, “There’s a strong growth potential for Ascott in Indonesia as more travellers are choosing serviced residences over other accommodation options. With Citadines Jakarta Rasuna and Citadines Jakarta Quartier, we will be able to cater to the growing segment of savvy travellers who want the flexibility to choose the services they desire to create their unique stay experience.”

Citadines Jakarta Rasuna will be situated along the main arterial roads of Jakarta city centre with several restaurants, supermarkets and shopping centres nearby. The Kuningan Stadium and the Gran Kuningan Driving Range are just across the road and several embassies are also within walking distance from the property.

The service residence is part of a 30-storey development known as The H Tower that also comprises offices, specialist clinics and medical care facilities. The new development will also be an extension of the existing Rumah Sakit Metropolitan Medical Center.