Tycoons’ Showcase in Sepaku

Under Aguan, a group of conglomerates pooled funds to develop the new capital city in a bid to attract foreign investors.

Erwan Hermawan

December 9, 2024

tempo

THREE months after its inauguration by President Joko Widodo, Swissôtel Nusantara in the Nusantara Capital City (IKN) in Sepaku, North Penajam Paser Regency, East Kalimantan, appeared desolate on Wednesday, December 4, 2024. The five-star hotel’s lobby was empty, and the restaurant behind it had no guests. There was only one car in the parking lot.

The commotion, however, was at another corner of the Nusantara Hotel. Workers wearing

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