Friday, February 23, 2024

Private sector companies collaborates with government to build 200 apartment towers in IKN

Reading Time: 2 minutes
Journalist IBP


Mahinda Arkyasa



The National Capital Authority (OIKN) has announced that the private sector is gearing up to embark on the construction of 200 apartment towers. This exciting venture will be undertaken by a consortium of 10 companies, bringing a wave of optimism for the local community.

Agung Wicaksono, Deputy Director for Funding and Investment at the IKN Authority, revealed that the majority of these companies are domestic enterprises. Additionally, there are joint ventures between Indonesian and Chinese firms, as well as contributions from South Korean companies.

Among the notable companies involved in this endeavor are Summarecon, Nindya Karya, Wika Gedung, and private entities such as Intiland, Triniti, and Ciputra. Their collaboration signifies a collective commitment to enhancing the living standards and infrastructure in the Nusantara region.

While the names of these companies have been disclosed, Agung did not divulge the specific number of towers each would undertake. 

Furthermore, the exact investment figures remain undisclosed as the companies are currently conducting feasibility studies for the projects. 

The IKN Authority eagerly awaits the completion of these studies, demonstrating their dedication to ensuring sound planning and execution.

In addition to the private sector’s involvement, the government, through the Ministry of Public Works and Housing (Kemen PUPR), will contribute to the development of the Nusantara region by constructing 47 apartment towers within the IKN area. 

This collaborative effort between the government and private enterprises exemplifies a holistic approach to regional development.

The allocation of fewer apartment towers to the Ministry of Public Works and Housing aligns with the IKN’s development plan, which primarily relies on private funding sources. 

Agung emphasized that out of the total required investment of approximately IDR 450 trillion for the IKN project, only 20 percent is funded by the national budget (APBN). 

While, the remaining 80%, a substantial portion of which is sourced from public-private partnerships (KPBU), underscores the innovative financing solutions at play.

This collaborative effort between the private sector and the government holds great promise for Nusantara’s future. With 200 apartment towers on the horizon and a diverse range of companies committed to the project, the region is set to witness significant infrastructure development and economic growth in the years to come.

Journalist IBP


Mahinda Arkyasa




We will provide you with an invoice for your reimbursable expenses.


New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.


$550 USD/Year


$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.


President Director of State electricity company PT PLN, Darmawan Prasodjo, has suggested that hydrogen fuel cell vehicles as future transportation is much more efficient when compared to fuel-based, even electric vehicles.
Vale Indonesia, a subsidiary of Canadian company Vale, has denied the Indonesian government’s claim that Vale Indonesia and Indonesian state-owned mining holding company MIND ID had reached an agreement with the government on the price of divestment shares.
Pertamina Hulu Mahakam (PHM) has secured the final investment decision (FID) approval to proceed with the implementation of the more than US$ 300 million Offshore Field Development Project (OPLL-3B) in the Mahakam Block.
Vela Alpha, a drone developed by PT Dirgantara Indonesia or PTDI in collaboration with PT Vela Prima Nusantara, also known as Vela Aero, made its appearance at the Singapore Airshow 2024 aviation exhibition.
The Upstream Oil and Gas Regulatory Task Force (SKK Migas), along with Inpex Corporation, is still studying global liquefied natural gas (LNG) market projections to secure long-term gas sales contracts for the Masela Block.
Ministry of Energy and Mineral Resources (ESDM) is unveiling a promising prospect for sustainable energy development mainly in Papua’s hydropower and its potential export.