The Government of Indonesia has secured over USD4 billion (IDR65.73 trillion) in investment for its future capital, Nusantara, located in East Kalimantan. The Nusantara Capital City Authority (OIKN) reported that 42 companies have already invested IDR62.08 trillion, with six more firms signing agreements worth IDR3.65 trillion on May 22. These latest projects include a culinary centre, a Marriott five-star hotel, an international school, a supermarket with a food court, and new office and residential zones.
OIKN Chief Basuki Hadimuljono stated that the investments will support Nusantara’s development as a modern, functional capital. OIKN Deputy Agung Wicaksono noted the authority is actively promoting investment to ensure timely project delivery. Construction began in 2022, and President Prabowo has committed to completing the capital by 2029 with a government budget of nearly USD3 billion.
Nusantara’s second development phase—focused on legislative and judicial buildings—is now underway. OIKN emphasised the importance of these institutions to the city’s goal of becoming the nation’s political hub by 2029. With civil servant housing nearing completion and commercial infrastructure expanding, the government continues to pitch Nusantara as a long-term growth centre for both governance and private sector investment.