JAKARTA: Multi-million dollar construction deals by major Chinese and Russian firms have officially launched in Indonesia’s Nusantara, President Joko Widodo said, marking a pivotal moment for the new capital city which had previously struggled to secure international funding. The projects – spanning property, hospitality and education developments – were officiated by Mr Widodo at an inauguration ceremony held on Wednesday (Sep 25). “We aim to build a strong and sustainable ecosystem in Nusantara, ensuring it becomes an attractive investment destination,” Mr Widodo said in comments carried by the Antara news agency.
“This shows the trust of investors, both local, domestic, and international, that Nusantara is a very attractive place for investment.” Minister of Tourism and Creative Economy, Sandiaga Uno, expressed optimism about the new investments, saying they could encourage more international investments that would create more jobs and business opportunities across Indonesia. China’s inaugural property project in Nusantara will be spearheaded by the Delonix Group, a leading Chinese tourism and hospitality firm with investments of 500 billion rupiah (US$32.
5 million). The planned 2.42-hectare integrated complex will consist of a hotel with 200 rooms, luxury apartments, shopping malls, offices and sports facilities.
Russia’s Magnum Estate International, a leading developer of luxury real estate in Bali, will launch a 1.3 hectare integrated resort complex ho.