Indonesia to break ground for US$2.7bil housing project in new capital in Q2

An under-construction dam to provide water for the future Indonesian capital of Nusantara. - AFP

JAKARTA (Reuters): Indonesia expects to begin construction in the second quarter on apartments worth US$2.7 billion for thousands of civil servants due to move to its new capital city on Borneo island, an official said late on Tuesday (Jan 17).

The country announced in 2019 a plan to move its capital city from Jakarta to a forested area in Indonesian Borneo, a project estimated to cost US$32 billion. The new capital will be named Nusantara.