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March 19, 2025 | 10:23 pm
TEMPO.CO, Jakarta - The Nusantara Capital City Authority (IKN Authority) has announced a new investment influx of Rp2.42 trillion, secured from five investors for the development project of the new capital in East Kalimantan. The formalization of these investments was marked by the signing of Land Utilization Agreements and Asset Allocation within Possession (ADP) by the Head of the IKN Authority and the five investors at the IKN office on Tuesday, March 18, 2025.
"This agreement provides legal force regarding land rights," stated Basuki Hadimuljono, Head of the IKN Authority, as quoted by Tempo from a written statement.
Basuki emphasized that the signing of these Land Utilization Agreements and ADP Land Allocations represents an important milestone in providing legal certainty for business stakeholders. The agreements delineate the specific rights and obligations of each participating party.
Following the signing, Basuki explained, the IKN Authority will proceed with the issuance of certificates, enabling investors to commence development activities without delay.
"This certificate is sufficient for gentlemen and ladies to begin construction, facilitating the rapid establishment of a comprehensive ecosystem in Nusantara," said the former minister of public works and housing (PUPR) during President Jokowi's administration.
The five investors contributing to the Rp2.42 trillion investment are:
PT Citadel Group Indonesia, a foreign investor specializing in lifestyle center development.
PT Berkat Kalimantan Abadi, a local investor focused on establishing a food and beverage center.
PT Perintis Pondasi Teknotama, which will construct office spaces, showrooms, and public electric vehicle charging stations (SPKLU).
PT Perintis Power Investmen, which will develop a mixed-use area.
PT Sentra Unggul Nusantara, which will build a business area.
Rigorous Selection Process
Previously, Agung Wicaksono, Deputy of Funding and Investment Division of the IKN Authority, affirmed that there has been no decline in the number of Letters of Intent (LoI) or investment interest letters received for the new capital city project. He asserted that investment interest remains strong, but the IKN Authority adheres to a strict and credible selection process for both foreign and domestic investors.
As of late February, Agung reported that 536 investment interest letters had been received for IKN from various business entities. 60 percent of these were related to infrastructure development. The remaining interests pertained to suppliers, vendors, consultants, and other entities outside the development investor category.
"As many as 140 investors interested in building infrastructure have completed the required data and are in the process of investing through the Investara platform," Agung said in a written statement, as quoted on Thursday, February 27, 2025. "Meanwhile, the other 190 investors are still completing requirements and in the verification stage."
He further explained that the professional, digital-based investor selection process through Investara ensures that only highly committed investors are successful. This approach reflects the IKN Authority's commitment to realizing all incoming investments for the welfare and sustainable development of the new capital city in East Kalimantan.
"The strict selection process is not indicative of decreased interest but rather a component of professional and accountable investment governance," he concluded.
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