Indonesia to Break Ground on US$2.7bn Housing Project in New Capital in Q2

• Sommana Yan
• 19 January 2023
• International News
• 2658 Views

Indonesia plans to begin construction of its US$2.7 billion large-scale residential project for civil servants in its new capital by Q2 this year, reported Reuters on 18 January. 

Head of the Nusantara National Authority Bambang Susantono said his office was negotiating with three private developers for the housing project: a consortium of China’s CCFG Corp and Risjadson Brunsfield Nusantara (CCFG-RBN), and South Korean firm Korea Land and Housing Corp., as well as local developer PT Summarecon Agung. 

The project includes the construction of 184 apartment towers for over 14,500 civil servants, military, and police personnel. 

The country announced in 2019 a plan to move its capital city from Jakarta to a forested area in Indonesian Borneo. Named Nusantara, the new capital is estimated to cost US$32 billion  

Authorities have already started building basic infrastructure in the area to start relocating some government administration and civil servants in 2024. 

 

Photo credit to IKN 

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