President Jokowi has been encouraging domestic and foreign investors to invest funds or investments in the National Capital (IKN) of East Kalimantan this year. His enticement also comes with a picture that the current land prices in IKN could skyrocket tenfold next year. Jokowi stated that land prices in IKN are still very cheap now and will undoubtedly rise in the future. Jokowi said at the groundbreaking ceremony for the project of Chinese investor Delonix Group in the IKN area of East Kalimantan that land prices could double, triple, quintuple, or even increase tenfold next year. If you want to invest this year, I need to remind you. Currently, foreign investors have started to flood in, wanting to invest in IKN, which convinces them that the area is a very attractive investment location. During the groundbreaking of the Astra Business Center and Nusantara Botanical Garden projects, Jokowi also stated that land prices in the IKN area are still cheap. He even compared the land prices of IKN Nusantara with Balikpapan and Jakarta, as IKN land prices are still in the range of IDR 400,000 to 800,000 per square meter. Jokowi said that investing in IKN East Kalimantan means buying the future, but if you change your mind later, the land will be gone, because the prices are now between IDR 400,000 and 800,000.
Jokowi also compared the land prices in Balikpapan near IKN East Kalimantan and compared them with Jakarta, which is far away. In Balikpapan alone, one square meter costs IDR 15 million, while in Jakarta it reaches IDR 200 million. From the start of the groundbreaking in 2023 until the 8th groundbreaking, total private investment in IKN has reached IDR 53.5 trillion. The Acting Deputy Head of the New Capital Authority (OIKN) stated that up to the 7th groundbreaking, the investment value was IDR 52.2 trillion, and after that, an additional IDR 1.5 trillion was added, meaning the total investment is IDR 53.5 trillion, excluding funds from Bank Indonesia (BI) and PSSI.
The total investment for the 8th IKN groundbreaking was IDR 1.5 trillion, including the construction of the Australian Independent School Nusantara (IDR 150 billion) and Delonix Nusantara (IDR 500 billion). Then there are Plataran's IKN Forest Terrace (IDR 15 billion), Magnum Resort Nusantara (IDR 800 billion), and D'Prima Hotel Nusantara (IDR 100 billion). In the future, there will be a 9th groundbreaking for IKN, but the exact timing is uncertain. Many foreign investors have submitted letters of intent (LoI), but as the President said, they are currently selecting which ones are related to IKN development.
