JakartaPost-Sept 24
The Asian Development Bank (ADB) has shared ideas for repurposing government buildings that will be left vacant in Jakarta as government functions are moved to the future capital city. The status of national capital is to be officially conferred on Nusantara in Kalimantan by mid-2024. Given the strategic location, heritage qualities and high value of the properties to be vacated, the ADB urged the government to devise an asset-repurposing strategy that is aligned with livability criteria, which matches people’s economic interests and is financially feasible at the same time. “It is crucial that we view the relocation to the new capital as an opportunity for making a positive impact to enhance Jakarta for the benefit of all its residents,” Joris van Etten, a principal portfolio management specialist at ADB’s Indonesia Resident Mission, told The Jakarta Post at the 2023 Jakarta Architecture Festival on Friday. He said the gradual process of Jakarta government buildings being vacated over the next four to five years provided the local government with a window to strategize and optimize the economic benefits for all citizens. However, he asserted: “This goes beyond simply converting these assets into revenue-generating possibilities; it’s about creating a livable Jakarta.” The ADB has been assisting the Finance Ministry in planning Jakarta’s asset-repurposing strategy with the aim of improving the city’s livability and maximizing the country’s economic interests, according to a report on the ministry’s website. The development financier urged the government to forge long-term partnerships with investors and property developers to ensure the sustainable maintenance of these assets. Read more at: https://www.thejakartapost.com/business/2023/09/24/adb-use-buildings-idled-by-capital-move-to-make-jakarta-livable.html.
