Pramono readies creative financing for ex-BPSDM office land

Jakarta Governor Pramono Anung has stated that he will prepare a creative financing scheme for the development of the former Human Resources Development Agency (BPSDM) office land.

Consequently, all investment requirements will be covered by private partners, ensuring that the Jakarta Regional Budget (APBD) is not burdened. “We will not use APBD funds to develop this area. We will open up cooperation with the private sector to build and manage it,” Pramono said in Jakarta on Thursday.

He noted that the asset owned by the Jakarta Provincial Government is highly strategic, situated within Jakarta’s golden triangle between Jalan HR Rasuna Said and Jalan Casablanca, surrounded by business centres, offices, embassies, shopping malls, and residential areas.

The project’s investment value is estimated to reach IDR 1.53 trillion, with a cooperation period of 30 years, extendable according to regulations. Construction is projected to take three years and is targeted to commence in early 2027.

“As soon as this plan became known, seven interested parties have already expressed their interest in developing this area,” Pramono revealed.

He emphasised that the partner selection process will be conducted openly, transparently, and professionally. From the outset, the Jakarta Provincial Government will request assistance from the Corruption Eradication Commission (KPK) and the Attorney General’s Office to ensure the asset utilisation process complies with all regulations.

Furthermore, he mentioned that the former BPSDM land will be developed into the Jakarta International Cultural Hub, an integrated area combining cultural, entertainment, meeting, incentive, convention, and exhibition (MICE), hotel, serviced apartment, office, and public space functions.