Emerging Interests for Property Projects in IKN Nusantara

Some investors and developers eye property projects in the Capital City of Nusantara, East Kalimantan, though property developers have yet to realize their investment commitments.

Yanita Petriella

28 Jun 2023 - 18.50
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Emerging Interests for Property Projects in IKN Nusantara

President Joko Widodo delivered a speech to potential investors for the Nusantara Capital project./Bisnis

Bisnis, JAKARTA — Investors and developers have shown interest in property projects at the Capital City of Nusantara--also known as Ibu Kota Negara (IKN) Nusantara--in East Kalimantan, despite property developers not yet realizing their investment commitments.

The long-awaited Government Regulation No. 12/2023, which concerns the Granting of Business Permits, Ease of Business, and Investment Incentives for Entrepreneurs in the Capital City of Nusantara, has been enacted by the government and took effect on March 6, 2023. 

The regulation aims to provide certainty, opportunity, and wider room for participation for both domestic and foreign investors to accelerate the development of Nusantara.

The incentives offered to investors include tax holidays, tax breaks of up to 100 percent for infrastructure investors, including the financial center area, super tax deductions, exemption of import duties for capital goods, and exemption of import duties for materials and goods.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.