80-160 year building use rights in IKN to attract investors: Minister

JAKARTA, Oct 12, 2022 - ( JCN Newswire ) - The Ministry of Agrarian and Spatial Planning/National Land Agency (ATR/BPN) is offering building use rights (HGB) of up to 80 and extendable to 160 years to attract investors to the new capital (IKN) Nusantara.

"The efforts will benefit all parties, both to the welfare of those who live in the city or the business actors themselves," ATR Minister and BPN head, Hadi Tjahjanto, said to Antara here on Monday evening.

The 80-year HGB permit is meant as an incentive for investors to invest in IKN Nusantara, he added. The 80-year HGB will be divided into three stages: the first phase will span 30 years, the second phase 30 years, and the third phase 20 years.

In the first phase, the ministry will ask the investor to submit a report assessment. "The permit will continue up to 80 years," he said. The permit can be extended if it is profitable to the community. "If it is still used properly and beneficial to the community, we can still extend it for another 80 years, up to 160 years," the minister informed.

He further said that his ministry has completed four regional spatial planning plans (RDTR) for IKN Nusantara, which will be submitted to the IKN Authority for immediate approval. Furthermore, RDTRs are being prepared for five regions and are targeted to be completed by the end of 2022.

The ministry will provide facilities related to land, spatial planning, and business licensing in the IKN Nusantara area, which will then be submitted to the IKN Authority, he stated.

"We will facilitate it, and we will hand it over to the head of the IKN Authority, including RDTR, spatial planning, and land issues. We will help the process," he added.

Written by: Rini Utami, Aditya Ramadhan, Resinta S, Editor: Suharto (c) ANTARA 2022