Who is the Ideal Figure to Lead the Former Hotel Sultan After State Takeover?
The government’s execution of the Hotel Sultan area has raised new questions about who is most suitable to manage and develop the strategic land in the Gelora Bung Karno (GBK) complex going forward. Property consultants believe the replacement manager cannot be chosen carelessly given the site’s immense value and potential.
"The person must be someone with property experience. It cannot be an entrepreneur from just any field. Even if they are a major conglomerate, their background must be in property, with property expertise and financial capability," said Leads Property CEO Hendra Hartono on Thursday (18/6/2026).
He assessed that funding capacity is also a key consideration. The appointed developer must be able to move quickly without relying too heavily on seeking new investors, which could potentially delay project realisation. "So it is not just about being taken on by a property player, but one whose finances are also unquestionable. It must definitely be a property entrepreneur, a property player," he stated.
Beyond experience and capital strength, Hendra sees the ability to develop integrated areas as an equally important requirement. The former Hotel Sultan location is considered to have characteristics suitable for development into a modern area with diverse functions in one zone. "Secondly, they must have the capability to build a Transit-Oriented Development (TOD) area, or a mixed-use development covering various sectors. It cannot just be housing, or just a hotel, or just offices or a mall. They must have capabilities across various sectors," he said.
The speed of development is also a concern. Hendra noted that the project would struggle to meet its targets if the developer still needs to seek additional funding from various parties after being appointed. "If they say they still need bank loans, or need to bring in more investors, foreign investors partnering here and there, it won’t be fast enough. The project will just take longer," he said.
Therefore, he believes the government must consider a combination of experience, technical capability, and financial strength in determining the new manager for the area. "So I think these are the right criteria if the government wants to take over and then move to make it a TOD area, and if possible, complete it within three to five years," Hendra concluded.
Meanwhile, Deputy Minister of State Secretary Bambang Eko Suhariyanto visited the site to directly witness the execution of the Hotel Sultan eviction. On that occasion, Bambang explained the reasons for the eviction. The first was the decision of the Central Jakarta District Court ordering the execution of the eviction of Blok 15 in the GBK area, the former Hotel Sultan. "Everyone will witness the execution. This land of the former Hotel Sultan is a state asset that was acquired by the government around 1959 for the 4th Asian Games," Bambang stated. He further explained President Prabowo Subianto’s directive to reclaim government or state assets that have been controlled by other parties. "We must return all these assets under state control," he asserted.