CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded its presence into Bali, Indonesia, by clinching a contract to manage a 174-unit serviced residence in Kuta. To be named Citadines Bali Kuta, the serviced residence will open in 2012.
According to the Bali Tourism Authority, in 2009, Bali received close to 2.26 million foreign visitors who stayed an average of almost nine days on the island. Tourism was estimated to have contributed USD2.7 billion in foreign exchange earnings to Bali’s economy last year. This represents 42% of Indonesia¬s tourism earnings in 2009.
The new serviced residence, Citadines Bali Kuta, will be located on the main arterial road of Jalan Raya Kuta, close to major shopping, dining and entertainment outlets. The five-storey serviced residence, comprising studio, one- and two-bedroom apartment units, will provide a right balance of excitement and privacy. Guests eager to brave the waves of Kuta can enjoy surfing at the famous Kuta beach within the vicinity. They can also work out in the gymnasium, luxuriate in the spa and swimming pool, or sample epicurean delights at the restaurant within the property.
Besides Citadines Bali Kuta, Ascott will open its first Citadines property in Indonesia, Citadines Jakarta Quartier, later this year; Citadines Jakarta Rasuna in 2011 and Ascott Kuningan Jakarta in 2012. Currently, the company has five operating serviced residences in Indonesia, namely Ascott Jakarta, Somerset Berlian, Somerset Grand Citra, and Country Woods in Jakarta as well as Somerset Surabaya Hotel & Serviced Residence.