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Ascott grows footprint in Indonesia

CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott) has opened its first property in Makassar, the 186-unit Citadines Royal Bay Makassar, which is also Ascott’s eighth operational property in Indonesia.


The largest international serviced residence operator in Indonesia has plans to open five more serviced residences from this year to 2019 in Jakarta and new cities such as Bandung and Yogyakarta as well as Karawang regency. Mr Kenneth Rogers, Ascott’s Regional General Manager for Indonesia and Australia, said: “Ascott has been managing international-class serviced residences in Indonesia for more than 20 years. Opening our first property in Makassar, Citadines Royal Bay Makassar, will enable us to extend Ascott’s reach to more customers as we provide another quality accommodation option for leisure and business travellers.

A popular tourist destination and business hub for meetings and conferences, Makassar is one of the top 10 provinces in Indonesia with the highest economic growth.”