PropertyGuru Property Report No.171 (April - May 2022)

Page 152

Dispatch

Capital pains Great fanfare greeted the naming of Indonesia’s new capital, Nusantara, but real estate analysts don’t expect any significant shift in emphasis away from Jakarta in the near future By Steve Finch

W

hen Myanmar moved its capital city to Naypyidaw on November 6, 2005, civil servants in Yangon received just two days’ warning. The exact date and time were selected, in secret, by soothsayers employed by the military government. The relocation of the Brazilian capital in 1960 was 133 years in the making. The name Brasilia was first selected in 1827. Both undertakings—like most capital relocations—received widespread criticism

152

NUSANTARA, THE FUTURE CAPITAL OF INDONESIA, IS ENVISIONED AS AN ECO-FRIENDLY CITY CARVED OUT OF INDONESIA’S PORTION OF BORNEO

years before they were completed past deadline and over budget. Nusantara, the future capital of Indonesia in East Kalimantan province, is beset by similar headaches. Billed as an eco-friendly answer to sinking Jakarta, the new administrative hub in Borneo promises green construction and a host of liveability perks. Yet, critics warn building works will clear thousands of square kilometres of forest.


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