China Investor Launches Rp1.25 Trillion Project in IKN, Korea Follows
The IKN Authority also said a South Korean investor is preparing a property project worth about Rp1.2 trillion in the same area.
PT Star Bright International Investment, an investor from China affiliated with Zhongda Jiancheng Engineering Management Group, began construction on July 15 of an integrated-area project valued at Rp1.25 trillion in Sub-WP 1B of the core government center of Ibu Kota Nusantara. The project on a 15,501-square-meter site will include apartments, restaurants, retail space and offices, and is targeted for completion by the end of 2026. IKN Authority head Basuki Hadimuljono said it was the first project by a foreign investor to be realized in IKN. A day later, Basuki said PT Dian Jaya Indonesia from South Korea will also enter with an investment of about Rp1.2 trillion in the property sector, including offices, in the same area.