The Ascott Limited expands its portfolio in Indonesia with a new property in Makassar.
The Ascott Limited, a subsidiary of Singapore based real estate firm CapitaLand, has opened its doors to their first serviced residences in Makassar, South Sulawesi. This is the first of six new residences Ascott will be opening from now until 2019. The next Ascott’s will be located in Jakarta, Bandung, Yogyakarta and Karawang regency. Ascott are keen to take advantage of the opportunities arising in the regions third’s largest economy.
Citadines Royal Bay Makassar has 186 units. The aim is to make Ascott’s brand even more accessible to customers who use the serviced residences for leisure and travel purposes. The world renowned serviced residence provider has 13 properties in Indonesia since they first arrived in the country more than 20 years ago. The number of units totals 2,300.
Makassar was chosen as the next destination as it is currently undergoing rapid change. It has a high rate of economic growth making it a hub for business and conferences. Additionally it is a much sought after travel destination.
Citadines Royal Bay Makassar manages to meet the demands of both markets by providing amenities needed for business travellers such as a business centre and meeting room. But also catering to other travellers with a swimming pool, residents’ lounge and restaurant. Plus the serviced residences are strategically located close to nearby attractions including Losari Beach and just thirty minutes from the international airport.
Other Citadines services residences have been performing well in Jakarta and Bali. Occupancy rates have been in excess of 80 percent. This is reflection of the state of the economy and the company expects a similar rate at Citadines Royal Bay Makassar.
