NewsAscott and Ciputra Formed Strategic Alliance

Ascott and Ciputra Formed Strategic Alliance

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CapitaLand’s wholly owned lodging business unit, The Ascott Limited has joined forces with Indonesia’s renowned property developer, Ciputra Development Group. Representatives of both groups signed a strategic alliance on 19 November 2019 at the opening ceremony of Ascott Sudirman Jakarta, a property which Ascott acquired from Ciputra in 2017. Under the alliance, Ascott will manage future serviced residences developed by Ciputra in Indonesia and China within the next five years. The first upcoming property shall be Citadines Sudirman Jakarta, open in 2021. 
The strategic alliance with Ciputra follows Ascott’s recent partnership with TAUZIA Hotel Management. These latest developments lead Ascott to a record nine-fold increase in properties in Indonesia year-on-year. Its portfolio now stands at more than 130 serviced residences and business hotels with close to 22,000 units across 39 cities in Indonesia. Kevin Goh, Ascott’s CEO said that Ascott will continue to work towards its global target of 160,000 units by 2023. Aradinata Djangkar, Ciputra’s Senior Director said that Ciputra has enjoyed a strong partnership with Ascott for over two decades. A lot of properties in Jakarta, Semarang and Surabaya have the potential to be developed into serviced residences and managed by Ascott through its portfolio of award-winning brands. 
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