UOL unveils deals to beef up its Indonesian hospitality portfolio

Singapore

UOL Group on Monday announced that it has acquired 180 apartments and ancillary facilities at Thamrin Nine's Tower 2 for US$56.3 million from Indonesian developer PT Pu-tragaya Wahana. It plans to develop the apartments into a 180-key Parkroyal Serviced Suites.

Located in central Jakarta, Thamrin Nine is a 5.4-hectare mixed-use development - comprising apartments, hotel, offices, retail and other facilities - situated along Jalan MH Thamrin Jakarta Pusat, a prestigious address in Indonesia's golden triangle.