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CapitaLand boosts Indonesia presence with $300 mil investment

Property

CapitaLand boosts Indonesia presence with $300 mil investment

Michelle Zhu Published on Wed, Sep 06, 2017 / 8:24 AM GMT+8

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SINGAPORE (Sept 6): CapitaLand is acquiring the 192-unit serviced residence, Ascott Sudirman Jakarta, for $74.3 million.

Together with the group's $220 million investment in The Stature Jakarta integrated development, this represents a combined investment of approximately $300 million.

In a press release on Wednesday, CapitaLand also announced that The Stature Jakarta, which is the group's first integrated development in Indonesia, is on track for completion by end-2020.