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CapitaLand's Ascott recently won a contract from Indonesian developer PT Rudy Indopratama Sejahtera to develop a serviced residence in Bali, Indonesia. The 174-unit serviced residence located in Kuta will be called Citadines Bali Kuta.
The five-storey residence is targeted to open in 2012 and will be situated close to major shopping, entertainment and dining outlets. It will include one- and two-bedroom apartments and studio units. A gymnasium, swimming pool, spa and restaurant are also included as facilities.
"While the majority of Ascott's guests are business travellers and expatriates on extended stay, more leisure travellers are choosing to stay at our serviced residences," said Mr. Lim Ming Yan, chief executive officer of Ascott.
"Bali is a world famous resort destination and over the years, it has become an increasingly attractive MICE destination. Bali continues to attract a high volume of tourist arrivals each year, which bodes well for our business in this market," he added.
The serviced residence raises the company’s presence in Indonesia to more than 1,800 serviced apartments across nine properties in Jakarta, Bali and Surabaya.
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Reader Comments: (2 comments)
Bali is too hyped up. It's not longer a vacationer's paradise. I would rather go to Boracay.
The big name developers are aggressively targeting the luxury sector. No surprise since money talks and Singapore economy is doing so well at the moment.