This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - Bank Tanah dorong pertumbuhan ekonomi baru di IKN
30 May 2024
By Edo Rusyanto
Jakarta – The Land Bank Agency is boosting economic development in Nusantara Capital City, located in North Penajam Paser Regency, East Kalimantan Province, by granting management rights (HPL) for 4,162 hectares of land.
“Use of land above the HPL of the Land Bank Agency is an effort to create a just economy and establish a new economic growth magnet,” Land Bank Agency Head Parman Nataatmadja stated in a press statement, quoted by Antara on Wednesday (29/5/2024).
The 4,162 hectares of land previously held under a right of cultivation (HGU) by PT Triteknik Kalimantan Abadi (TKA) was acquired by the state after the permit expired in 2019. The land was then transferred to the Land Bank Agency with an HPL status.
The land is situated in Gersik Ward, Jenebora, Pantai Langi, and Riko in Penajam Subdistrict. Portions of it are also located in Maridan Ward, Sepaku Subdistrict, in North Penajam Paser Regency.
He stated that the Land Bank Agency could grant rights to utilise the land through a cooperation scheme above the HPL to third parties, private companies, or individuals.
“Cooperation above the HPL can be provided in the form of an HGU status, an HGB (right to build), or a right of utilisation above the HPL of the Land Bank Agency,” he added.
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