Jakarta, Indolnesia Sentinel — President Joko Widodo (Jokowi) officially launched the groundbreaking of the Magnum Resort Nusantara, a luxury residential project in Indonesia’s new capital city, Ibu Kota Nusantara (IKN), on Wednesday (September 25, 2024). The high-end complex is being developed by Russian investor Magnum Estate.
“Today, we begin the groundbreaking of Magnum Resort Nusantara, an exclusive luxury residential development with an investment of approximately Rp 300 billion,” said Jokowi during his speech.
The project, with an estimated Rp 300 billion investment, will be built on a 1.3-hectare plot of land, providing a wide range of premium property options for people looking to live in IKN.
During the event, Jokowi spoke with Igor Maximov, Co-Founder of Magnum Estate, about his impressions of IKN. Jokowi shared that Maximov gave glowing feedback about the location, calling it “the best location I’ve ever seen.”
“We hope that this investment will showcase the opportunities available in IKN and signal that the city is open to investors from around the world. This will be a global, international city with world-class facilities,” Jokowi emphasized.
Jokowi also expressed optimism that more investors will follow in contributing to the development of IKN.
“With the words Bismillahirrahmanirrahim, I officially declare the construction of Magnum Resort Nusantara underway. Thank you. Assalamualaikum warahmatullahi wabarakatuh,” Jokowi concluded, pressing the ceremonial siren and smiling for photos.
Jokowi also highlighted upcoming infrastructure improvements. By the end of this year, the travel time to IKN is expected to decrease significantly—from over two hours to just 40-50 minutes—thanks to a new toll road. He added that the Nusantara Airport, slated for 100% completion by December 2024, will further enhance the capital’s connectivity.
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“The drive from the airport to IKN will take just 15 minutes once the toll road is completed. This will demonstrate to our investors, including those from Russia, how promising investment in IKN truly is,” Jokowi concluded.
(Ray)
