As­cott Forms Strate­gic Al­liance with Cipu­tra, In­done­sia’s Lead­ing De­vel­oper

Indonesia Expat - - ANNOUNCEMENTS -

Cap­i­taLand’s wholly owned lodg­ing busi­ness unit, The As­cott Lim­ited (As­cott), has formed a strate­gic al­liance with one of In­done­sia’s top prop­erty de­vel­op­ers – Cipu­tra De­vel­op­ment Group (Cipu­tra). Un­der the al­liance, As­cott will man­age ser­viced res­i­dences to be de­vel­oped by Cipu­tra in In­done­sia and China within the next five years. The 253unit Ci­tadines Sudirman Jakarta, the first prop­erty un­der the al­liance, will open in 2021. The al­liance was inked at the open­ing cer­e­mony of As­cott Sudirman Jakarta, a prop­erty which As­cott ac­quired from Cipu­tra in 2017; cel­e­brat­ing in part As­cott’s long stand­ing part­ner­ship with Cipu­tra. Since it first part­nered Cipu­tra in 1996 for Som­er­set Grand Ci­tra Jakarta, which is jointly owned with As­cott Res­i­dence Trust, As­cott has also ac­quired As­cott Kuningan Jakarta from Cipu­tra in 2014. In ad­di­tion to Ci­tadines Sudirman Jakarta, the newly opened As­cott Sudirman Jakarta and As­cott Kuningan are all lo­cated within Cipu­tra World – a mixed-use mul­ti­plex de­vel­op­ment in Jakarta’s thriv­ing Golden Tri­an­gle Cen­tral Busi­ness Dis­trict. This strate­gic al­liance with Cipu­tra fol­lows As­cott’s re­cent part­ner­ship with TAUZIA Ho­tel Man­age­ment (TAUZIA), one of In­done­sia’s top five ho­tel op­er­a­tors. With these lat­est de­vel­op­ments, As­cott achieved a record nine-fold in­crease in prop­er­ties in In­done­sia year-on- year, strength­en­ing its po­si­tion as the coun­try’s largest lodg­ing owner-op­er­a­tor. Its port­fo­lio now stands at more than 130 ser­viced res­i­dences and busi­ness ho­tels with close to 22,000 units across 39 cities in In­done­sia.

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