Nusantara. The Nusantara Capital Authority signed a cooperation agreement with five private investors on Tuesday, securing a total investment of Rp 2.42 trillion ($146.5 million).

Head of the Nusantara Capital Authority, Basuki Hadimuljono, said the funds will be directed toward developing hotels, office buildings, an entertainment district, and electric vehicle (EV) charging stations in the nation's future capital, Nusantara. 

"Today, we signed a cooperation agreement and a notarial land utilization agreement. This is a direct investment worth Rp 2.42 trillion," Basuki said.

The five investors and their respective sectors include:

• Citadel Group Indonesia – Lifestyle center
• Berkat Kalimantan Abadi – Food and beverage center
• Perintis Pondasi Teknotama – Office buildings and EV charging stations
• Perintis Power Investment – Mixed-use development
• Sentra Unggul Nusantara – Commercial area

To meet the capital relocation timeline, investors must begin construction this year. The projects are expected to be completed within three years, aligning with President Prabowo Subianto’s directive for full infrastructure readiness by 2028.

"Previously, the deadline was 1.5 years, but now, with much of the main infrastructure already in place, construction must begin this year," Basuki explained.

With this investment, the development of Nusantara is gaining momentum, pushing forward its transformation into a future capital that will serve as Indonesia’s new government center.