Private investments in the entertainment sector of the Nusantara Capital Authority (IKN) have reached IDR 20 trillion, representing nearly a quarter of the total funding for private development. This investment mainly focuses on entertainment, hotels, and green spaces. According to Deputy Head of Funding and Investment at IKN, Agung Wicaksono, this development was highlighted during the ASEAN Investment Forum Day 2 in Jakarta. In the 2020-2024 National Medium-Term Development Plan (RPJMN), IKN requires funding of IDR 466 trillion, with contributions from the state budget (APBN) at IDR 90.4 trillion, private enterprises at IDR 123.2 trillion, and Public-Private Partnerships (KPBU) at IDR 252.5 trillion. Private funding, primarily from domestic sources, is concentrated in Zone 1A, which includes the Presidential Palace and various ministry offices. Agung mentioned that IKN has received 270 letters of intent (LOI) from potential investors, with the majority coming from Indonesian companies, followed by those from ASEAN nations such as Singapore and Malaysia.
Among ASEAN countries, Malaysia has two property companies committed to building 20 apartment towers (rusun) within IKN, currently undergoing feasibility studies before government evaluation and approval for construction. Additionally, Singaporean interests lean towards renewable energy and waste processing within the IKN region.
The IKN initiative has garnered significant interest and investment commitments, particularly from domestic and ASEAN-based companies, with a strong focus on key areas like entertainment, property development, and sustainable energy solutions.
