The cooperation was formalized through the signing of a land allocation agreement by OIKN Deputy for Funding and Investment Sudiro Roi Santoso and Ayedh Dejem Group Chairman Sheikh Ayedh Dejem in Dubai on Friday, according to an OIKN statement issued Sunday.
"There is significant growth in the Indonesian economy. And God willing, the economy in Nusantara will grow rapidly, creating demand for large-scale projects," Dejem said during the signing ceremony.
Under the agreement, Ayedh Dejem Group will utilize 9.7 hectares of land in the Core Government Area (KIPP) 1A, located next to Plaza Bhinneka Tunggal Ika. The development will include office buildings, commercial spaces, a shopping mall, and a mosque.
Dejem said the company's commitment was based on confidence in the economic strength of both Indonesia and the UAE.
"Our core business is real estate development. Considering Indonesia's large population and scale, as well as Dubai's position among the world's 20 largest economies, we expect strong growth in Nusantara's real estate sector," he said.
Sudiro welcomed the signing, describing it as a strategic milestone.
"Praised be to God, today, January 23, OIKN and Ayedh Dejem have successfully signed a land allocation agreement covering 9.7 hectares," he said.
He said the estimated investment value is around Rp4 trillion (approximately US$238.4 million). The project will begin with detailed design planning, followed by licensing and contractor bidding, a process expected to take up to one and a half years.
Physical construction is scheduled to begin in mid-2027 and continue in stages over the following five years.
Sudiro said the investment reflects a long process and strong commitment from both sides. Ayedh Dejem Group previously conducted a site visit to Nusantara and signed a non-disclosure agreement on May 8, 2025.
Several OIKN officials also attended the signing, including Deputy for Social, Cultural and Community Empowerment Alimuddin, as well as representatives from the investment, financing, and human resources directorates.
The partnership, OIKN said, reinforces Nusantara's vision as a "World City for All," developed through collaboration between the government and global private partners.
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Translator: Katriana
Editor: Anton Santoso
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