CAPITALAND'S serviced residence arm, The Ascott, has formed a strategic alliance with Indonesian property developer Ciputra Development Group, under which Ascott will manage serviced residences to be developed by the latter in Indonesia and China over the next five years. The first property, the 253-unit Citadines Sudirman Jakarta, will open in 2021. The alliance was signed at the opening ceremony of the Ascott Sudirman Jakarta, which Ascott acquired from Ciputra last year. Since partnering Ciputra in 1996 for the Somerset Grand Citra Jakarta, which is jointly owned with Ascott Residence Trust, Ascott has also acquired the Ascott Kuningan Jakarta from Ciputra in 2014. Kevin Goh, Ascott's chief executive, said: "With an expanded product offering, we expect to pick up pace in our growth in the country.