Jakarta. The International Real Estate Federation, or Fiabci, has supported Indonesia's new capital, Nusantara, development by promoting the project to eager investors in North America, a federation's top executive said in a statement on Monday.
The $35-billion project presented an ideal opportunity for property investors in North America, often consisting of Asian diaspora, eager to invest in their home region, Rusmin Lawin, the president of Fiabci Asia Pacific, said in the statement.
"Given the long history of migration from the Asian region to the United States and Canada and will continue to be a favorite investment place for Asian investors and vice versa," Rusmin said.
"A diaspora who has succeeded [there] is usually also keen to invest in property in their home country, so this is a kind of cross-border investment that has been going on for quite a long time," he added
Rusmin began his 12-day visit on Sep 14 by attending the Fiabci International Trade Mission in New York, then continued to Toronto to meet with Canadian Fiabci members. He then traveled to Tacoma City, Seattle, to meet with the city's deputy mayors and real estate businesses person and to Brentwood Innovation Center, California, to receive a warm welcome from Brentford mayor Joel R. Byant and his staff.
Rusmin also disseminated information about investment opportunities in Indonesia's new capital, Nusantara (IKN), stakeholders, investors, and diplomatic officials at the Indonesian Consulate General in Toronto.
"In Toronto, we had the opportunity to meet with an expert on ecology and forestry from the University of Toronto, James Patrick, and a biodiversity expert from the ROM Museum Toronto, Charles Darlin,g to explore innovative ideas in the management and development of Nusantara's forest area," he said.
The capital is expected to dedicate 75 percent of its 256,000-hectare area to protected forests.
"I did have a special task from the Head of the Nusantara Capital Authority, Bambang Susantono, and the authority's deputy head, Dhoniy Rahajoe, to explore these innovative ideas. I have reported the results to them as a member of the IKN Kadin Indonesia Working Group," Rusmin said.