CLAS owns three leasehold serviced residences in Indonesia which are under management contracts. Collectively, the three properties have an average length of stay of around three months. The 204-unit Ascott Jakarta, 185-unit Ascott Kuningan Jakarta and 199-unit Somerset Grand Citra Jakarta are situated near the Golden Triangle of Jakarta – the city’s Indonesia GROSS RENTAL INCOME (IDR’MILLION) REVENUE PER AVAILABLE UNIT (IDR’000) FY 2024 FY 2023 FY 2024 FY 2023 Ascott Jakarta 102,567 90,544 1,348 1,195 Ascott Kuningan Jakarta1 90,485 8,132 1,322 1,405 Somerset Grand Citra Jakarta 63,983 59,349 918 833 1 The acquisition of the property was completed on 30 November 2023, hence the gross rental income and RevPAU stated for FY 2023 are for December 2023. 1 Excluding Ascott Kuningan Jakarta which was acquired on 30 November 2023. Properties 3 Total Revenue (FY 2024) S$22.2M Total Gross Profit (FY 2024) S$7.9M Units 588 Valuation (as at 31 December 2024) S$144.3M main business, shopping and entertainment district – and surrounded by offices, embassies, convention centres and shopping centres. In FY 2024, RevPAU of the Indonesia properties increased by 16% YoY in IDR terms, due to higher occupancies and ADR. On a same-store basis1, RevPAU increased by 12%. Featured property: Ascott Kuningan Jakarta, Indonesia 43 Annual Report 2024
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