The 46-story mixed-use building, tentatively named The Okura Residences Jakarta, is being constructed by Japan’s Mitsubishi Estate and Indonesian developers in the central business district at a cost of ¥21.2 billion (US$186 million).

The Okura Residences will cater mainly to affluent clients. A total of 353 apartments will be located on 31 floors, ranging from 75sqm studios to 1,000sqm penthouses replete with rooftop decks.

The apartments will be fully furnished, with cleaning and laundry services provided.

In addition, the development will house the first Okura-branded hotel in Indonesia. The Hotel Okura Jakarta will contain 181 rooms on 13 floors. Residents in the serviced apartments will have access to the hotel’s pools, fitness centre and other facilities.

The serviced apartment project will be Okura’s second after a location under development in Yangon, Myanmar’s largest city. The coronavirus pandemic has shifted the hospitality industry toward this business, which carries the potential for stable, long-term income.