Ascott has signed a contract with one of Indonesia’s most established commercial property developers, PT Ciputra Property Tbk, to manage a 153-unit serviced residence, to be named Somerset Kuningan.

Expected to open in 2012, Somerset Kuningan enjoys a prime address in Jakarta’s Golden Triangle, a business and embassy district with a sizeable expatriate community. It will be part of a 10-hectare integrated development – Ciputra World Jakarta, which comprises a high-end retail mall, office towers, condominiums and a five-star diamond hotel-cum-luxury residence.