UOL acquires 180 apartments in Jakarta for $76.3 mil; inks agreement to operate PARKROYAL Jakarta

SINGAPORE (July 16): UOL Group announced that its indirect wholly-owned subsidiary in Indonesia, PT Success Venture Serviced Suited Investments, is acquiring 180 apartments and ancillary facilities at Thamrin Nine’s Tower 2 in Jakarta, Indonesia for US$56.2 million from Putragaya Wahana.

The group intends to develop the apartments into a 180-key PARKROYAL Serviced Suites.

Thamrin Nine is a 5.4 hectare mixed-used development, which is still undergoing construction in phases. Tower 2 is expected to be completed in 2022.

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