Indonesia's New Capital Nusantara Sees Major Real Estate Developments

Agung Podomoro Land and Pakuwon Jati are leading the way in Nusantara's real estate development, with projects worth billions of dollars.

IndonesiaReal EstateProperty DevelopmentNusantaraAgung Podomoro LandPakuwon JatiReal Estate NewsJun 25, 2024

Indonesia's New Capital Nusantara Sees Major Real Estate Developments
Real Estate News:Indonesia is witnessing a major transformation with the development of its new capital city, Nusantara. The city, which is being built in the Borneo jungles, is expected to become a hub for economic growth and development. To support this growth, several major real estate developments are underway, including apartment towers and superblocks worth billions of dollars.\n\nOne of the leading real estate companies, Agung Podomoro Land, has plans to build 15 apartment towers valued at up to 4.5 trillion rupiah (USD 275 million) in collaboration with the city authority's business unit, Bina Karya. This is one of the first private housing deals in the city, and it marks a significant milestone in the development of Nusantara.\n\nAnother developer, Pakuwon Jati, is planning to construct a superblock in Nusantara, which will include a mall, a condominium, and hotels, with a project value of 5 trillion rupiah. These developments are expected to provide much-needed housing and infrastructure for the thousands of civil servants who are expected to move to the city from Jakarta.\n\nPresident Joko Widodo has expressed his intention to declare Nusantara as the new capital this year, despite recent setbacks involving key project officials resigning. The government is working to assure investors and government officials that the USD 32-billion new capital city project will continue as planned.\n\nThe development of Nusantara is a significant step forward for Indonesia, and it is expected to have a major impact on the country's economy and growth. With its modern infrastructure and state-of-the-art facilities, Nusantara is poised to become a major hub for business and investment in Southeast Asia.\n\n Information \n\nAgung Podomoro Land is a leading Indonesian real estate company with a portfolio of residential and commercial properties, including superblocks in central Jakarta.\n\nPakuwon Jati is a prominent developer in Indonesia, known for its high-quality developments and innovative designs.\n\nBina Karya is the business unit of the Nusantara city authority, responsible for managing and developing the city's infrastructure and properties.

Frequently Asked Questions

What is the value of Agung Podomoro Land's apartment tower project in Nusantara?

The project is valued at up to 4.5 trillion rupiah (USD 275 million)

What is the expected timeline for the declaration of Nusantara as the new capital city?

President Joko Widodo has expressed his intention to declare Nusantara as the new capital this year

What is the project value of Pakuwon Jati's superblock development in Nusantara?

The project is valued at 5 trillion rupiah

How many civil servants are expected to move to Nusantara from Jakarta?

Thousands of civil servants are expected to move to Nusantara from Jakarta

What is the total value of the new capital city project in Nusantara?

The project is valued at USD 32 billion

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