Manhattan, NY The Ministry of Trade of Republic of Indonesia, Urbahn Architects and Indonesia Investment Promotion Center will present “Investment Forum: Opportunities in Nusantara, Indonesia’s New Capital City.” The forum will outline real estate and infrastructure investment opportunities related to the largest ongoing public/private urban development undertaking in the world, launched with $35 billion in public investment. Nusantara will serve as the new capital of the 16th largest economy in the world and the G20 member nation with a population of 279 million.
The event will take place on November 20th, at the Consulate General of Indonesia in New York at 5 East 68th St.
Both government officials and investors active in Indonesia and the Association of Southeast Asian Nations (ASEAN) region will be available for networking and consulting.
Indonesian President Joko Widodo announced the decision to found a new capital of Indonesia in 2019. Nusantara, which means “archipelago,” will be established between Samarinda City and the port city of Balikpapan on the island of Borneo. The current capital, Jakarta, is rapidly sinking, with one-third of the city likely to be underwater by 2050, due mainly to excessive ground water extraction.
Located 9 miles (15 kilometers) inland, Nusantara will be less prone to tropical storms and flooding than Jakarta. The new city will feature sustainable architecture and infrastructure, along with a thick tree canopy, 65% of which will be reforested after construction.
In order to accelerate the development of the new capital city, the government of Indonesia is offering tax and other incentives, long-term land leases and other support to developers and investors in the commercial, institutional, healthcare, hospitality, multi-family, and retail real estate and infrastructure market sectors.
The forum will culminate in the official launch of Urbahn International, Urbahn Architect’s new venture focused on architecture, real estate and building standards consulting, property development as well as accessibility and energy efficiency consulting in the ASEAN region.
The new company will be based in Indonesia and New York. Urbahn principals Donald Henry, Jr., AIA, LEED AP; Natale Barranco, AIA, LEED AP; Martin Stein, AIA, LEED AP; Rafael Stein, AIA; and Ranabir Sengupta, AIA, LEED AP lead the new firm. New York City-based architectural designer and Indonesian native Rafi Haikal serves as Urbahn International’s director of ASEAN Region Business Development.
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