President Joko Widodo has officially launched multi-million dollar construction projects in Indonesia's new capital city, Nusantara. The projects, spearheaded by firms from China, Russia and Australia, will include luxury hotels, serviced apartments and shopping malls.
The multi-million dollar projects funded and spearheaded by firms from China , Russia and Australia, will include luxury hotels, serviced apartments and shopping malls.
“We aim to build a strong and sustainable ecosystem in Nusantara, ensuring it becomes an attractive investment destination,” Mr Widodo said in comments carried by the Antara news agency. “This shows the trust of investors, both local, domestic, and international, that Nusantara is a very attractive place for investment.”
Russia’s Magnum Estate International, a leading developer of luxury real estate in Bali, will launch a 1.3 hectare integrated resort complex housing serviced apartments and commercial spaces, with similar estimated costs of up to 500 billion rupiah. President-elect Prabowo Subianto has pledged to continue building Nusantara after taking office in October.
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