JakartaPost-July 11
Several of Indonesia’s biggest property developers have unveiled their plans to build commercial facilities in Nusantara, the new capital city located in East Kalimantan, ranging from malls to offices to accommodate the new inhabitants of the government’s flagship project. Two developers signed agreements with Nusantara-owned PT Bina Karya last Thursday and Friday, namely Ciputra Group-backed PT Citra Kotabaru Nusantara and publicly listed PT Pakuwon Jati, respectively. However, no investment figure was disclosed in the press statements. Ciputra Group plans to develop an integrated area consisting of housing, a hotel, a golf course and a botanical garden. These include meeting, incentive, conference and exhibition (MICE) facilities. Meanwhile, Pakuwon plans to develop an integrated area of apartments, a mall and hotel in the new capital. “We have built many properties in Indonesia cities. Now its time to build one in the new capital,” Alexander Stefanus Ridwan Suhendra, president director of Pakuwon Jati said in a statement on Friday. Alexander said on June 27 that he was optimistic that retailing in Nusantara would have a huge potential market, as quoted in Detik.com. “How about the cash flow? Maybe at first it won’t be profitable. In the long term, though, I believe it will be profitable, so everything will be fine,” he said last month. Nusantara is scheduled to be inaugurated next year, coinciding with Indonesia’s 79th anniversary with President Joko “Jokowi” Widodo set to hold the independence celebration in the new capital. Sinarmas Land, property arm of conglomerate Sinarmas, plans to develop a township in East Kalimantan named Grand City Balikpapan project, which is claimed to be the largest in the province, as reported by Kontan on Sunday. Read more at:
