CapitaLand's Ascott buys Jakarta serviced residence for S$90m
It is also taking its Ascott brand to Vietnam and opening its first property in Laos
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Singapore
CAPITALAND'S The Ascott is buying a newly-opened serviced residence in Jakarta for S$90 million, taking its Ascott brand to Vietnam and opening its first property in Laos.
Ascott has signed a conditional agreement with a subsidiary of its long-time Indonesian partner, Jakarta-listed PT Ciputra Property Tbk, to buy the 185-unit Ascott Kuningan Jakarta, which it already manages. It expects the property to be handed over in the second quarter of 2015.
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