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RI property giants to build malls, offices in Nusantara capital city
Two developers signed agreements with Nusantara-owned PT Bina Karya last Thursday and Friday, namely Ciputra Group-backed PT Citra Kotabaru Nusantara and publicly listed PT Pakuwon Jati, respectively.
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People shop at a mall in Serang, Banten, on April 9, 2023. (AFP/Dziki Oktomauliyadi)
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everal of Indonesia’s biggest property developers have unveiled their plans to build commercial facilities in Nusantara, the new capital city located in East Kalimantan, ranging from malls to offices to accommodate the new inhabitants of the government’s flagship project.
Two developers signed agreements with Nusantara-owned PT Bina Karya last Thursday and Friday, namely Ciputra Group-backed PT Citra Kotabaru Nusantara and publicly listed PT Pakuwon Jati, respectively.
However, no investment figure was disclosed in the press statements.
Ciputra Group plans to develop an integrated area consisting of housing, a hotel, a golf course and a botanical garden. These include meeting, incentive, conference and exhibition (MICE) facilities.
Meanwhile, Pakuwon plans to develop an integrated area of apartments, a mall and hotel in the new capital.
“We have built many properties in Indonesia cities. Now its time to build one in the new capital,” Alexander Stefanus Ridwan Suhendra, president director of Pakuwon Jati said in a statement on Friday.
Alexander said on June 27 that he was optimistic that retailing in Nusantara would have a huge potential market, as quoted in Detik.com.
