The Authority for the Nusantara Capital City (OIKN) has announced that 15 domestic investors are poised to commence groundbreaking projects early in 2024, signifying a new phase in the development of Indonesia’s future capital.
The Otorita Ibu Kota Nusantara (OIKN) is set to initiate groundbreaking ceremonies for 15 projects between January and February 2024. These projects, driven by domestic institutions, consortia, foundations, and private investors, are geared towards transforming IKN into a green and smart city.
The initial wave of projects involves a variety of green and infrastructure initiatives, including botanical gardens by the Nusantara Consortium and an Orangutan Sanctuary Island by the Arsari Djojohadikusumo Foundation.
Notable projects include office buildings for OJK, LPS, BPJS Kesehatan, PLN, Bank Mandiri, a hotel by Jambuluwuk, a 5-star hotel and convention center by Royal Golden Eagle (RGE), and a mixed-use project by Indogrosir.
Future plans include green residential areas, hotels, golf courses by Ciputra, office spaces for Bank BCA, furniture showrooms, warehouse complexes by Sinar Primera, and a mixed-use project by GrandLucky Superstore.
According to Law No. 3 of 2022 on the National Capital, IKN’s development is expected to boost the economy of Kalimantan and strengthen the domestic value chain across Eastern Indonesia, enhancing Indonesia’s strategic position in global trade, investment, and technological innovation.
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This large-scale investment reflects a commitment to sustainable urban development, showcasing IKN’s potential as a model for future cities that are both environmentally friendly and technologically advanced.
The substantial investments and groundbreaking ceremonies in IKN demonstrate Indonesia’s dedication to building a green and smart city. This development is likely to attract further international attention and investment, offering new opportunities and reinforcing Indonesia’s role in the regional and global economy.
The Authority for the Nusantara Capital City (OIKN) is gearing up for a major development phase with 15 domestic investors set to initiate groundbreaking projects in early 2024. These initiatives are part of a broader strategy to establish IKN as a green, smart, and strategic hub in Indonesia and the wider region. With a mix of environmental, residential, commercial, and institutional projects, IKN is poised to become a model for sustainable and innovative urban development.
Source: RRI, Emiten News (2024)
