Total Investment in Nusantara Surpasses Rp65 Trillion as Six New Firms Join Development
North Penajam Paser, The Gulf Observer: Total investment in Indonesia’s future capital, Nusantara, has reached Rp65.73 trillion (over US$4 billion), the Nusantara Capital City Authority (OIKN) announced this week, marking a significant milestone in the ongoing development of the country’s planned administrative hub.
As of April 2025, 42 companies have realized investments amounting to Rp62.08 trillion in the new capital, located in East Kalimantan. On Wednesday, six additional firms signed investment agreements with a combined value of Rp3.65 trillion, further bolstering the city’s development momentum.
OIKN Head Basuki Hadimuljono revealed on Thursday that the latest investments include several strategic projects: a culinary center to be built on 1,800 square meters of land; a five-star Marriott hotel occupying 2.04 hectares; and an international school expected to cover 10,000 square meters and accommodate up to 750 students.
Other developments include a modern supermarket with a food court on 0.21 hectares, alongside new office zones, apartment complexes, and a vibrant commercial area. These projects are part of the government’s broader vision to establish Nusantara as a dynamic and livable city for both residents and international stakeholders.
“We welcome these fresh investments, which will play a vital role in supporting Nusantara’s infrastructure and economic ecosystem,” Basuki said during a press briefing in North Penajam Paser.
Agung Wicaksono, OIKN Deputy for Funding and Investment, emphasized the authority’s proactive engagement with the private sector. “We are working actively to make Nusantara increasingly attractive to investors and to accelerate the realization of projects,” he stated. “Sustained collaboration will ensure long-term benefits for the development of Indonesia’s future capital.”
Construction of Nusantara began in 2022 under the leadership of then-President Joko Widodo. His successor, President Prabowo Subianto, who assumed office in 2024, has pledged to continue the mega project through 2029. The government has allocated Rp48.8 trillion (nearly US$3 billion) to support the capital’s development under the current administration.
In April, Basuki Hadimuljono announced that the project had entered its second phase, focusing on the construction of judicial and legislative buildings. These structures are central to the government’s plan to formally establish Nusantara as the political heart of the nation by 2029.
