The Stature Jakarta

CapitaLand"s first integrated development in Indonesia, The Stature Jakarta is on track for completion by end 2020 at a total development cost of approximately S$220 million. It further expands its presence in Indonesia by investing S$74.3 million in a 192-unit serviced residence, Ascott Sudirman Jakarta, through CapitaLand"s wholly owned serviced residence business unit, The Ascott Limited (Ascott). Together, this represents an investment of approximately S$300 million in Southeast Asia"s largest economy.

Located near the heart of Central Jakarta"s commercial and lifestyle district, The Stature Jakarta is jointly developed by CapitaLand and local developer Credo Group, through a 50:50 joint venture formed in 2014. Spanning a total gross floor area of approximately 55,500 square metres (sqm), the development comprises Stature Residences, a luxurious 29-storey residential tower with 96 exclusive units; Ascott Menteng Jakarta, a 24-storey premium serviced residence tower; Stature Tower, a 20-storey office building designed to Grade A specifications; as well as lifestyle retail outlets.

Through Ascott"s global serviced residence fund with Qatar Investment Authority (QIA), CapitaLand is also acquiring a serviced residence to be named Ascott Sudirman Jakarta on a turnkey basis. It is Ascott"s sixth serviced residence within Jakarta"s thriving Golden Triangle. Slated to open in 2018, Ascott Sudirman Jakarta is close to completion and is developed by Ciputra Development Group, one of the largest property firms in Indonesia. In addition, Ascott secured a contract to manage the 230-unit Citadines Canggu Bali that is scheduled to open in 2020. With the addition of Ascott Sudirman Jakarta, Citadines Canggu Bali, as well as Somerset Sudirman Jakarta in July, Ascott has expanded its portfolio in Indonesia by close to 600 units this year; further strengthening its leadership position as the largest serviced residence operator in Indonesia.

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