The Jakarta-based National Capital Integrated Coastal Development (IKN) project is witnessing a surge in investor interest, with 345 Letters of Intent (LoI) submitted to participate in its development. As of December 15, 2023, the project had received a total of 328 LoIs, with the majority originating from domestic investors. Deputy Investment for Financing and Investment at the IKN Authority, Agung Wicaksono, revealed that of the total LoIs, approximately 60% were from domestic investors, while the remaining 40% (138 investors) came from foreign entities. Notably, the highest number of investors hailed from Singapore, Japan, Malaysia, China, and South Korea, with additional contributions from Brunei Darussalam and Saudi Arabia. Addressing concerns about the progress of foreign investors in the IKN project, Agung clarified that Chinese investors, specifically Citic Construction, had completed their feasibility study. Malaysian investors, Maxim & IJM, are also actively engaged in constructing residential complexes. Contrary to speculations, Agung emphasized that foreign investors are involved in the ongoing processes. He mentioned upcoming tenders to ensure the selection of the best-suited partners for various aspects of the project.
Furthermore, Agung shared positive developments with investors from Brunei Darussalam and Saudi Arabia expressing interest in constructing residential units with an investment value ranging between IDR 4.5 trillion to IDR 7 trillion. The final investment cost will be determined based on land prices and feasibility studies. The IKN project, designed to be the new capital city of Indonesia, aims to attract both domestic and foreign investors for its comprehensive development. The diverse range of investor origins highlights the global appeal of the project, with significant contributions from neighboring countries and beyond. The assurance of progress and active participation from both domestic and foreign investors underscores the momentum and positive outlook for the IKN project as a strategic initiative for Indonesia's future urban development.
