IKN Authority Explains Delay in Construction Following Groundbreaking by Investors

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SELASAR.CO, Nusantara – Agung Wicaksono, Deputy of Funding and Investment at the Nusantara Capital City (IKN) Authority, has provided an update on several investors who have held groundbreaking ceremonies for their projects but have not yet commenced full-scale construction.

Agung explained that each investor who has participated in a groundbreaking has signed a Land Utilization Cooperation Agreement (PKS) with the IKN Authority.

This agreement outlines the project's development plan, including stages and a schedule. A key provision mandates that investors must begin construction no later than 18 months after signing the agreement.

"Investors who have held groundbreakings have clear construction schedules within their agreements. Currently, some are still in the design phase, others have started construction, and some have even completed construction and begun operations. So, everything is proceeding according to the timeline." Agung stated on Saturday (January 25, 2025).

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He emphasized that the flexibility in the schedule is necessary to ensure project quality, from design to implementation. The IKN Authority continuously monitors the progress of each project to ensure it stays on track.

Agung also noted that the current focus of development in the Central Government Core Area (KIPP) is WP 1A, where the infrastructure is already in place. He added that investors who have held groundbreakings have expressed interest in Development Areas 1B and 1C, even though basic infrastructure in these areas is still under construction.

"Investor enthusiasm is very high. Some have already started groundbreakings in WP 1B and 1C," Agung added. "The certainty of the State Budget allocation for the IKN Authority up to 2028, amounting to Rp 48.8 trillion, provides a guarantee of adequate infrastructure throughout KIPP up to WP 1B and 1C at the investor's groundbreaking sites", he stated.

Regarding the Rp 48.8 trillion

in State Budget funds allocated by President Prabowo Subianto for the continued development of IKN, the Head of the IKN Authority, Basuki Hadimuljono, stated that these funds will be used to complete several developments in the 2025-2029 period.

"The Rp 48.8 trillion has been approved by the President for allocation to the IKN Authority," Hadimuljono explained. "To achieve these targets by 2025-2029, we need a State Budget of Rp 48.8 trillion. This will primarily be used to complete the legislative, judicial, and supporting ecosystems, as well as to open access to IKN Planning Area 2."

Additionally, the funds will be used to maintain and manage the infrastructure and facilities in IKN that have already been completed. "So, the Ministry of Public Works (PU) and the Ministry of Housing and Urban Development are now handing over these responsibilities to the IKN Authority for us to manage and maintain," he added.

Investor Perspective

Sony Subrata, a Board Member of the IKN Entrepreneurs Communication Forum (FKP-IKN), explained that some projects in IKN have been completed by investors, while others are still in the development process. He noted that all development projects in IKN are large-scale and highly complex.

"Some investors in IKN have already completed construction, while others are in the process of finalizing designs and preparing for construction," Subrata said. "The IKN Authority is also preparing the construction of roads and Multi-Utility Tunnels (MUT). Everything is proceeding according to plan, and if there are minor technical or administrative obstacles on the ground, that's normal. All investors feel that the IKN Authority is always responsive and quick to find solutions. Building a city is a large and complex undertaking. The important thing for investors is that IKN is a very attractive investment opportunity," said Sony Subrata

The developments Subrata mentioned include roads, drainage, electricity, and other supporting facilities – all essential elements that allow investors to start their projects effectively. One of the primary concerns for investors is the potential presence of consumers in IKN, who will be the main market for their projects. The IKN development plan and the certainty of population growth are key factors in determining when construction can begin.

For example, the construction of a school by a private investor not only requires adequate infrastructure but also must consider the arrival of residents, especially school-aged children. This plan requires close coordination with various Ministries and Institutions to ensure that development proceeds according to the needs of the population that will reside in IKN.

Penulis: Redaksi Selasar
Editor: Jesslyn Chouda