Where do Indonesia's law firms stand on their future relocation to the unfinished new capital?
Indonesia's new capital, known as Nusantara (Ibu Kota Nusantara, or IKN for short), is scheduled to begin construction in 2022 and be completed in 2045 at an expected cost of about US$35 billion.
Frantic construction was underway to house initial ministerial and court buildings, housing and infrastructure support in order to meet an Aug. 17 deadline for the current president to officially open the capital from the Presidential Palace on Independence Day.
Joko Widodo (centre) and Prabowo Subianto (right) attending the Independence Day celebrations.
President Joko Widodo was working from the presidential office in the city before the announcement and was residing at the Garuda Presidential Palace, according to reports.
It was reported that Transport Minister Budi Karya Sumadi will become the first minister to work from the Minister's Residence in Nusantara on July 11.
However, the Independence Day celebrations stopped short of officially announcing Nusantara as the country's new capital, and there is no clear indication of when an official announcement might be made.
Joko Widodo and Prabowo Subianto, who will take office as president in October, attended a national Independence Day ceremony in the unfinished capital along with cabinet ministers, military leaders and guests, but logistical glitches cut the number of attendees to about 1,300 from a reported 8,000.
The megaproject has seen little of the expected foreign interest, although some early housing projects have attracted interest from China, a major concern given the government wants foreign investment to cover most of the city's construction costs.
Asia Business Law Journal asked law firms whether they had ever discussed relocating to the new city and what their expectations are for the new capital.
