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Govt readies 1,000 ha of land to build Penajam Eco-City project near Nusantara
The Land Bank Authority hopes investors will take an interest in the eco-city project, which is set to become commercial hub supporting the new capital city project.
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A general view of the Central Government District of the new capital Nusantara is seen on March 8, 2023 in Sepaku, East Kalimantan. (Reuters/Willy Kurniawan)
T
he government will build an eco-city in North Penajam Paser Regency, East Kalimantan, near the new capital of Nusantara, the Land Bank Authority has said, hoping investors will take an interest in the project.
It is hoped the project, named Penajam Eco City, will serve as a commercial hub and new source of economic growth in the region, particularly due to its proximity to the new capital.
“For this eco-city development, the Land Bank has readied 1,000 hectares of land,” Land Bank Authority head Parman Nataatmadja said on Wednesday as quoted from Antara.
The eco-city is also situated near Naratetama Airport, which serves as VVIP transportation infrastructure for Nusantara.
Currently, the land for the eco-city is priced at between Rp 200,000 (US$12.27) and Rp 300,000 per square meter, which the agency expects will rise after the construction of the airport is finished this year.
Read also: Firms want direct 95-year land rights in Nusantara as uncertainty persists
Investors looking to enter the eco-city project will be granted right to cultivate (HGU) and right-to-build rights (HGB).
