OIKN Receives 345 Initial Investment Commitments, Domestic Investors Still Dominate

Ikn

JAKARTA - The Archipelago Capital Authority (OIKN) received 345 Letters of Intent (LoI) or initial commitments to invest in National Capital City (IKN).

OIKN Deputy for Funding and Investment Agung Wicaksono said that of the total, around 40 percent came from foreign investors.

"In total there are 345 LoIs, on average still around 60 percent are from domestic (investors), while of course the remaining 40 percent are from foreign investors," said Agung in an online media briefing, Tuesday, January 16.

Agung said that the largest number of foreign investors still came from Singapore, Japan, Malaysia, China and South Korea.

"And yesterday's additions were Brunei Darussalam and Saudi Arabia, because they are an international consortium," he said.

He added that there are two investors whose feasibility study (FS) stages have been completed, namely China and Malaysia. "And now the FS is being evaluated to ensure it is truly feasible and later there will be a tender or selection of these investors to ensure the best," he said.

"So, the two (countries) are real, they have started running. Later we will enter the selection process after this evaluation," he added.

To date, there have been three groundbreakings by private investors in IKN which have taken place in three periods, namely stages 1, 2 and 3.

Phase 1 groundbreaking will take place in September 2023, phase 2 will be held 1-3 November 2023 and the third or final phase will be held on 20-21 December 2023.

Now, the total investment value that has been included in the IKN project has reached IDR 41.4 trillion.