JAKARTA. PT Pantai Indah Kapuk Dua Tbk (PANI) announced its latest investment in the National Capital City (IKN) through the investment of minority shares in PT Kusuma Putra Alam (KPA).

For the record, KPA is a company founded in 2019 with an investment of IDR 450 billion. KPA runs real estate, hotel and tourism businesses for IKN in North Penajam Paser, East Kalimantan.

The amount of investment that has been deposited by PANI to KPA is IDR 50 billion. With this investment, PANI owns 11.12% of KPA's total paid-up capital.

"By making this investment, PANI sees an investment opportunity that can increase PANI's valuation in the future and IKN is a new destination for investment in the property sector," explained PANI Management, through an official statement.

PANI management admitted that this investment was made at the right time. Currently, KPA is building the first phase of the Nusantara Hotel, which has 100 rooms. This hotel is targeted to start operating in the next 7 months. (KR/LM)