REI woos global investors to fund new investment project
Jakarta. The association of real estate companies Real Estate Indonesia, or REI, recently announced that its global tour to attract investors to fund Indonesia’s new capital in East Kalimantan has ended on a high note.
“Almost all potential investors have expressed interest in investing in the new capital, provided there is legal certainty, a clear legal framework, an attractive public-private partnership scheme and a feasible business,” Rusmin Lawin said. , vice-president of REI for foreign affairs. relations, said Monday in a press release.
Indonesia plans to move its capital from Jakarta to a new city, to be called Nusantara in East Kalimantan. Nusantara is also an Indonesian and Malay language, rooted in ancient Javanese, to call the Southeast Asian archipelago.
REI recently organized a tour of the United States, Europe and the Middle East to attract foreign investors to Nusantara.
“We hope that the government’s goal of having 80% of this mega project financed by the domestic and foreign private sectors can be achieved,” said Rusmin, who is also president of the International Real Estate Federation (Fiabci). for the Asia-Pacific region. mentioned.
The new capital project would cost $35 billion, according to the government’s estimate. The government expected the new capital development to begin in stages until 2045. Yet President Joko “Jokowi” Widodo was adamant that he and his ministers could move into their new offices in Nusantara in 2024. .
Since the beginning of 2020, REI has been promoting this new investment project to several strategic stakeholders around the world.
In the Middle East, REI had met in person with the chairmen of Dubai’s real estate giants, such as Mohammad Alabbar of Emaar Properties Group, Hussain Sajwani of Damac Properties Group and Mirwais Azizi of Azizi Developments Group.
REI also met with representatives of Dubai Property Holdings, Managing Director of Diamond Developers Salah Hasan Habib, Ritossa Family Office Dubai and representatives of Sheikh Tahnoon bin Saeed bin Tahnoon Al Nahyan Group.
“In Abu Dhabi, REI is lobbying the senior management of Masdar Group, ADQ Group, Mubadala Group and senior officials of Emirates Fiabci led by Mahmoud Al Burai,” Rusmin said.
Stakeholders REI interviewed in Asia included Enterprises International Singapore (IES), Hong Kong Trade and Development Council (HKTDC), Japan Conference on Overseas Development of Eco-Cities (J-Code), National Agency for Administrative City Construction (NAACC). He also held talks with Iskandar Regional Development Authority (Irda), Astaka Holdings, Jana DCS Group, AWS Group, KVG Group Malaysia.
In Europe, REI also discussed the new capital project with the Bulgarian Chamber of Commerce, the Bulgarian Industrial Association, the Swiss Association 2000 Watt City Society, the Spanish Fundación Metrópoli and the German Immobilien Makler AG.
REI campaigned for the Nusantara megaproject in Central Asia with the Tashkent Trade and Investment Department, Kazakhstan Networking Partners Group, Aristan Group and Mallow Islands Group.
REI works with Silicon Valley investment and real estate expert Lawrence Souza and Georgetown University global investment expert William Endsley in the United States.
He also discussed investment opportunities with real estate companies such as Cascadia Development Partners, Eco-Industrial House, Yareton Investment Funds, Chinese American Real Estate Association, Cora Global.
“As well as finance companies like Hannover Bank, We Lend Group, Express Capital Financing, Chase Bank and Empire Bank,” Rusmin said.