Jokowi's Message To Investors: Be Careful Next Year, Land Prices At IKN Can Increase

JAKARTA - President Joko Widodo (Jokowi) has warned investors to immediately invest in the capital city of Nusantara (IKN), East Kalimantan, this year.

Jokowi said that currently the price of land in IKN is still cheap. However, he said, there is a possibility that there will be an increase in the coming year.

He considered that the increase in land prices varied. Starting from double to 10 times.

"Be careful that the price of land (at IKN) is still cheap now, the price of the land is still cheap this year. However, next year we don't know that the price of land can be doubled twice, can be doubled by 3 times, it can be more than 5 times (even) can be 10 times," said Jokowi when inaugurating the groundbreaking Delonix Nusantara at IKN, as quoted from the Presidential Secretariat's YouTube, Wednesday, September 25.

"So, I need to remind you that you want to invest this year," he continued.

Meanwhile, Jokowi again laid the 8th stage of the groundbreaking at IKN today.

The groundbreaking involves one pure foreign investor, two foreign partnerships and two domestic investors.

Foreign private investment first entered through the mixed use sector, namely Delonix Bravo Investment from China which will build hotels, apartments, offices and shopping centers.

Meanwhile, the two companies will partner with international Australian Independent School investors to build international schools and PTwasya Investment Nusantara in residential and commercial areas.

As for domestic investors, there are two companies, namely Primahotel Management Indonesia which will build Hotel Bintang 3 or hotel budget and PT Plataran Boga Rasa which will build venues.