Singapore-based Frasers Hospitality has announced further plans to expand into Indonesia after recently making its entry into the country's capital of Jakarta with the opening of the 108-unit Fraser Residence Sudirman. The company is looking into adding three more properties in the country over the next three years to tap into the growing serviced apartment market, eventually adding a further 500 serviced residences to its portfolio in Indonesia. The move will be part of Frasers Hospitality's global expansion strategy to open 25 new properties with 4,300 serviced residences over the next two years.

Singapore's Ministry of National Development has announced that up to 43 land sites will be released in the second half of 2011 under the Government Land Sales (GLS) programme. For the residential sector, the sites can collectively provide a potential yield of about 14,200 private residential units, with most of the private residential sites located outside the central region or in locations in the central region where more affordable private housing is expected to be built. As for the other sectors, the rest of the sites in the upcoming GLS will also potentially yield about 268,000 square metres of commercial space and 3,700 hotel rooms.