Indonesian company Sinar Mas is set to launch a hotel in the country's new capital

The new capital of Indonesia, which is being built on the island of Borneo, will have a hotel opened by Sinar Mas Land, a significant real estate developer in the nation.

The CEO of the Indonesian conglomerate Sinar Mas Group, which is owned by the Widjaja family, Michael Widjaja, recently stated in an interview that the company has invested in the opening of a hotel in Nusantara.

In August 2024, the government intends to begin transferring some of its most important duties from Jakarta, the current capital, to that location.

According to Widjaja, Nusantara has a lot of potential. Five or six business groups in Indonesia will build the hotel. Thus, he explained, they intend to use this five-star hotel as a springboard for the development of IKN, abbreviating the city's official name in Indonesian.

He also stated, without providing any more information, that the new property's groundbreaking is anticipated to take place in the first half of the following year.

President Joko Widodo is the driving force behind the capital relocation, which is anticipated to cost 466 trillion rupiah ($30 billion) to build. Widodo views the move as a way to relieve pressure on Jakarta. Numerous issues plague the metropolis on the island of Java, such as congestion, pollution, and high traffic. According to Widodo, the action is also encouraging the growth of a distant area within the large island nation.