A landmark moment for Indonesia’s new capital.
Dentons HPRP is advising PT Intiland Development Tbk (IDX: DILD) on a landmark IDR 2.81 trillion Public Private Partnership (KPBU) project to develop 109 landed houses for state civil apparatus (ASN) within Planning Area 1B of the Central Government Core Area (KIPP) of the Nusantara Capital (IKN).
The project marks three Indonesian firsts: the first KPBU project in the IKN, the first KPBU for landed housing (rumah tapak), and the first KPBU for state buildings (Bangunan Gedung Negara), establishing an important precedent both for the new capital and for PPP projects in Indonesia in general.
Initiated by Intiland as project initiator on an unsolicited basis, the project has now reached a key milestone, with Intiland having been designated the winning bidder and the Letter of Award having been issued. Intiland can now move on to the formation of the implementing business entity (BUP) and the signing of the KPBU IKN Agreement.
Dentons HPRP has been advising Intiland end-to-end across every Indonesian legal aspect of the project, from the feasibility study, the review of procurement documents, and tender assistance, preparing the KPBU Agreement and the negotiations with the Nusantara Capital Authority (Otorita IKN), PT Penjaminan Infrastruktur Indonesia (Persero) (PII), and the Ministry of Finance, including the co-guarantee arrangements.
The matter is led by Partners Maurice Maulana Situmorang and Winda Tania, with support from Senior Associate Imam Ibnu and Associate M. Afif Siduppa.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.
