PT Pakuwon Jati, Tbk.
Stocks code: PWON.IJ (Bloomberg), PWON.JK (Reuters)
PT CEMERLANG INDO PROPERTI SIGNS LANDMARK AGREEMENT WITH THE ASCOTT LIMITED FOR NEW ASCOTT BATAM PROPERTY

 

Jakarta, 17 October 2024 – PT Cemerlang Indo Properti, a subsidiary of PT Pakuwon Jati Tbk, officially announced its strategic partnership with The Ascott Limited, a lodging business unit wholly owned by CapitaLand Investment (CLI), to develop Ascott Batam, a landmark project poised to become the largest mixed-use development in the region. The official signing ceremony, held on 14 October 2024, marks a significant milestone in Pakuwon’s and Ascott’s continued expansion in Indonesia and reinforces its commitment to delivering world-class lodging experiences in key cities across the archipelago.

 

 

Strategically situated in Bukit Permata, one of Batam’s most sought-after locales, Ascott Batam will be the brand’s inaugural property in the city. The development is set to redefine Batam’s urban landscape, with its close proximity to major retail complexes, esteemed universities, and other essential amenities, creating an integrated destination that seamlessly blends residential, commercial, and leisure facilities. Guests can look forward to a range of top-notch facilities including a swimming pool, fitness center, business lounge, and multiple dining options. The property will also feature state-of-the-art meeting and event spaces, catering to corporate and social gatherings.

As Batam continues to grow as a gateway between Indonesia and neighboring countries, the development is poised to cater to the increasing demand from international visitors seeking both short and extended stays. This premier development is also expected to attract significant inbound tourism from Singapore, given Batam’s proximity and ease of access via ferry services.

Designed by internationally acclaimed architectural firm Benoy, known for their pioneering work in master planning and cutting-edge design, the property will epitomize innovation and elegance. Benoy’s visionary approach is expected to bring a sophisticated, contemporary aesthetic to Ascott Batam, while integrating sustainable elements that respond to the demands of modern urban living.

Eiffel Tedja, Director of Pakuwon Jati Tbk. highlighted the significance of the development by stating “The development of Ascott Batam reflects our ambition to drive transformative projects that set new benchmarks in real estate landscape. Our partnership with The Ascott Limited reinforces our commitment to innovative, high-quality development that caters to the evolving needs of modern dwellers. We are confident that Ascott Batam will stand as a model of excellence and enhancing Batam’s standing as a thriving destination for business and leisure.”

Philip Barnes, Country General Manager of The Ascott Limited Indonesia, expressed his enthusiasm for the groundbreaking collaboration, stating, “The partnership between The Ascott Limited and PT Cemerlang Indo Properti represents a convergence of industry expertise and a shared commitment to delivering excellence. Ascott Batam is set to be a landmark not only for Batam but for the entire region, offering a holistic living experience that balances luxury, convenience, and sustainability. This development is a testament to our vision of creating exceptional, future-forward destinations that enhance the quality of life for residents and visitors alike.”

The property will stand as a beacon of Ascott’s distinct approach to hospitality, embodying the highest standards of service, design, and innovation. Slated for completion in 2028, Ascott Batam will enhance the city’s appeal to both domestic and international travelers. Its unparalleled combination of luxury living spaces, retail outlets, and integrated facilities is expected to draw interest from both residents and investors, reinforcing Batam’s status as a pivotal gateway between Indonesia and neighboring countries. 

 

About Pakuwon Jati

Pakuwon Jati Tbk (PWON: IDX) is an established real estate developer with over 40 years of experience successfully developing marketing and operating properties in Indonesia. Established in 1982 and listed on the Jakarta Stock exchange since 1989, Pakuwon Jati is a diversified real estate developer focused in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali & Batam. The Company’s portfolio of prime properties includes retail, residential, commercial and hospitality developments. The Company is vertically integrated across the full real estate value chain from land acquisition, property development, marketing, and operational management. Pakuwon Jati is the pioneer of the Superblock concept in Indonesia, a large-scale integrated mixed-use development of retail shopping mall, office, condominium, and hotel. Its successful track record and reputation within the property industry has secured strong long-term relationships with tenants and buyers, which provides a stable platform for rapid business expansion.

 

About The Ascott Limited

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with about 950 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 230 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.

For more information on Ascott and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Alternatively, connect with us on Facebook, Instagram, TikTok and LinkedIn.

 

About CapitaLand Investment Limited (www.capitalandinvest.com)

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 30 June 2024, CLI had S$134 billion of assets under management as well as S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in thematic and tactical strategies. Its diversified real estate asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage and data centres.

CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

 

 

For more information, please contact:

Minarto Basuki (Director and Corporate Secretary) 
PT Pakuwon Jati, Tbk.
Pakuwon City Mall 5th Floor 
Jl. Kejawan Putih Mutiara No. 17, Surabaya
Telp : (6231) 99218800
Email: corpsec@pakuwon.com
Website: www.pakuwonjati.com

 

 

Dhita Salsabila Putri (Public Relations Executive)
The Ascott Limited - Indonesia
RDTX Place, 19 Floor, 
Jl. Prof. DR. Satrio Kav. 3 RT 001 RW 004, Kuningan, Jakarta Selatan 12940
Mobile        : + 62 878 5414 7516     
Email: dhita.putri@the-ascott.com
Website: www.discoverasr.com