The construction of this resort is the result of a partnership investment between local entrepreneurs and Russian investor Magnum Estate.
"Today, we start the construction of Magnum Resort Nusantara, an exclusive luxury residence built with an investment of approximately Rp300 billion (US$19 million) on 1.3 hectares of land," Widodo noted in his remarks during the inauguration at IKN Nusantara, East Kalimantan.
According to the president, the Magnum Resort offers a new choice of quality property and flexibility of choice for IKN residents in future.
The head of state highlighted that it currently took 1.5-2 hours to travel from Balikpapan to IKN.
The president affirmed that a new toll road, soon to be completed, will reduce travel time to 40-50 minutes.
Related news: President Widodo breaks ground for private hotel in Nusantara
Moreover, he remarked that the construction of Nusantara Airport is targeted for completion on December 31, 2024.
"Once the toll road is completed, the travel time from Nusantara Airport to IKN Nusantara will only be 15 minutes. Our Russian investor understands this promising prospect to invest at IKN," the president noted.
He also sought testimonials regarding IKN from Russian investors, who believe that IKN has the best location.
"We hope this investment proves that investment opportunities at IKN are open to anyone. IKN is designed to become a global city, an international city, with all supporting facilities. We hope more investors are keen to have a groundbreaking here," he remarked.
Apart from the Magnum Resort Nusantara, the president also broke ground for the construction of the Australian Independent School (AIS) Nusantara school at IKN on Wednesday.
Related news: Jokowi praises timely development, new projects in Nusantara
Translator: Rangga Pandu/Mohammad Solih, Resinta S
Editor: Yuni Arisandy Sinaga
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