JakartaGlobe-Sept 25
President Joko “Jokowi” Widodo on Wednesday inaugurated several projects funded by local and foreign investors in Nusantara, the future national capital. One of them is the construction of a hotel with an investment of Rp 100 billion ($6.6 million). In another event in Nusantara, the president launched a property project by Delonix Group that will invest Rp 500 billion ($33 million) in multi-purpose real estate in an area of 24,000 square meters. Jokowi also inaugurated a luxury residential project with a joint investment of Rp 300 billion ($19.8 million) from local investors and Russian firm Magnum Estate. Spread over 1.3 hectares, Magnum Resort Nusantara will provide upscale residential options, further expanding the housing choices in the new capital, located in East Kalimantan, Jokowi said during the groundbreaking ceremony. “This new investment shows that Nusantara is open to global investors as we strive to build an international city. We hope that this project is just the beginning and that more investors will follow suit and start their developments here,” President Jokowi said. Also on Wednesday, the president commenced the construction of an integrated school with an investment from Australian Independent School. The facility occupies 7,900 meter squares of land and is designed to accommodate 750 students from elementary to high schools. Earlier, Investment Minister Rosan Roeslani announced that Nusantara attracted $165 million in foreign investments from various companies. Singapore’s Sembcorp Utilities Pte Ltd has committed $65 million to a solar panel system, while Raffles Education Ltd plans to invest in the education sector. He also noted that a Chinese investor has proposed building a shopping center in Nusantara. Read more at: https://jakartaglobe.id/business/busy-investment-day-jokowi-launches-various-projects-by-private-investors-in-nusantara
