Jakarta. The development of Indonesia’s new capital, Nusantara (IKN), will move forward as planned, with the megaproject slated for completion in 2028.

President Prabowo Subianto has reaffirmed his administration’s commitment to continue the construction of the future capital.

The pledge is outlined in Presidential Regulation (Perpres) No. 12 of 2025 on the National Medium-Term Development Plan (RPJMN) 2025–2029, which designates IKN as a national priority. It is further strengthened by Perpres No. 79 of 2025 on the Updated Government Work Plan (RKP) for 2025, setting a target for Nusantara to officially become Indonesia’s political capital by 2028, with the relocation of civil servants and completion of supporting infrastructure.

IKN Authority Head Basuki Hadimuljono said the project has now reached an irreversible stage.

“We are at the point of no return. There is no doubt in building IKN. Every step we take now is fully aligned with the president’s directive to make Nusantara Indonesia’s political capital by 2028,” Basuki said in a statement on Wednesday.

He said the project goes beyond building a new city. It embodies Indonesia’s vision for a more advanced and globally competitive future.

“What we are building is not just a city, but the future of the nation. And that future is now taking shape,” he added.

President Prabowo has approved an allocation of Rp 48.8 trillion ($2.93 billion) for the continuation of Nusantara's development for the 2025–2029 period. The capital project is financed through a mix of state budget funds and investments from domestic and international partners.

As of now, the IKN Authority has secured Rp 225.02 trillion in investment commitments, comprising Rp 66.3 trillion in private sector funding and Rp 158.72 trillion under public-private partnership (PPP) schemes for key infrastructure projects, including road construction, multi-utility tunnels, and residential developments within the new capital area.