Frasers Hospitality opens third serviced residence in Jakarta

FRASERS Hospitality, a division of mainboard-listed property firm Frasers Centrepoint Limited, on Monday launched Fraser Place Setiabudi, its third serviced residence in the Indonesian capital of Jakarta.

Located along Jalan Karbela Selatan, Fraser Place Setiabudi is a "Gold-Standard" serviced residence towering 31 storeys above the central business district of Jakarta's Golden Triangle.

The opening of the 151-unit serviced residence will bring Frasers Hospitality's Jakarta portfolio to a total of eight properties with more than 1,300 units by 2019.

Choe Peng Sum, chief executive officer of Frasers Hospitality, said: "Indonesia is a key growth market for us and our confidence is reflected in the fact that more than 20 per cent of our South-east Asian properties are located in Jakarta."