Frasers Hospitality, a division of Frasers Centrepoint Limited, has launched its third serviced residence, Fraser Place Setiabudi, in the Indonesian capital of Jakarta. The opening of the 151-unit serviced residence will bring Frasers Hospitality’s portfolio in Jakarta to eight properties with more than 1,300 units by 2019.

“Indonesia is a key growth market for us,” says Choe Peng Sum, CEO of Frasers Hospitality. In fact, more than 20% of Frasers Hospitality’s portfolio in Southeast Asia is located in Jakarta. The first two properties in Jakarta are Fraser Residence Sudirman and Fraser Residence Menteng.

The 31-storey Fraser Place Setiabudi serviced residence is located along Jalan Karbela Seletan in the Central Business District of Jakarta’s Golden Triangle.