20240131 Cover Indonesia election curtain raiser img main

An aerial view of the ongoing construction of Nusantara, Indonesia's new capital on Borneo island, seen in December 2023. The large building in the foreground will be a grand presidential palace. (Photo by Dimas Ardian)

Indonesia's new capital hinges on election as Jokowi set to exit

With most funding from private sector, Nusantara struggles to convince investors it is here to stay

NANA SHIBATA, ISMI DAMAYANTI and ERWIDA MAULIA, Nikkei staff writers

January 31, 2024 06:00 JST

JAKARTA/NUSANTARA, Indonesia -- A great chrome and glass building in the shape of a winged bird rises half-built from the jungles of Borneo.

Two years ago, this was a sprawling eucalyptus plantation, but in seven months the structure will be Indonesia's presidential palace, perched on a hill overlooking the new capital, Nusantara. Evoking the Garuda, a legendary eagle of Indonesian folktales, work crews are scurrying to finish the palace in time to host the nation's annual independence celebration in August.