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$330 Million Investment Brings Nusantara Mall and Luxury Hotel to IKN

by Becky
2024-09-15
in Economic
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Jakarta, IndonesiaSentinel.com — On September 13, 2024, the Nusantara Consortium officially broke ground on the Nusantara Mall Duty Free and inaugurated Swissotel Nusantara in Indonesia’s new capital, Ibu Kota Nusantara (IKN).

Developed by ASRI, a subsidiary of Agung Sedayu Group, these ambitious projects have a total investment of IDR 5 trillion (approximately USD 330 million) and are designed with a nature-integrated concept.

The Nusantara Mall Duty Free project, covering 120,000 square meters, will feature a shopping complex, luxury hotels, serviced apartments, and various other facilities. It is part of a broader vision aimed at enhancing the quality of life through an integrated and sustainable environment.

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The mall’s design, described as “green and futuristic,” will occupy only a quarter of the nine-hectare site, leaving ample open green space for public use. ASRI emphasized the “people-oriented” layout, with the building mass aligned along the perimeter to engage with street activity while the open space provides a refreshing shopping experience.

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President Joko Widodo (Jokowi) expressed his support for the project, highlighting its potential to bring vitality to IKN. “Once this [Nusantara Mall Duty Free] is complete, it will bring more vibrancy to the new capital,” Jokowi said in an official statement, encouraging the consortium’s continued investment.

Swissotel Nusantara, the first five-star hotel in IKN, has been operational since August 17, 2024. It boasts 191 rooms, a high-end restaurant (NUSA), conference facilities, a swimming pool, and a fitness center, offering premium accommodations near the Presidential Palace and Government District.

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The dual launch of these projects underscores the commitment of major Indonesian corporations, including Agung Sedayu Group, Sinar Mas Group, Adaro Group, and others, to contribute to the rapid development of IKN as Indonesia’s future hub for government and business.

(Ray)

Tags: HotelIKNInvestmentmallNusantara Mall
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