JAKARTA – Joining the hype in IKN, PT Indonesian Paradise Property Tbk (INPP) is getting ready to start its latest project in Balikpapan, which is revealed to be a hotel. As is known, since 2022, INPP has been discussing the opportunity to develop a CBD in Balikpapan.

Met at Annual Public Expose 2024 of INPP today (6/6), Anthony P. Susilo, President Director of INPP, gives a nod to the idea of a Tri-State in Kalimantan, which will consist of Balikpapan as business and commercial centre, Samarinda as residential centre, and IKN as government area, initially mentioned by Ridwan Kamil, former Mayor of Bandung.

“Only with this mindset then could we see IKN program as a more extensive, complete, and realistic development,” Susilo added.

Susilo believes that the development and progress of IKN will positively affect surrounding areas. “The demand from the market is there, and the impact of levelled development in said areas brings more prospect for our own development,” he added.

Particularly, Susilo highlights this positive effect on INPP’s landbank in Balikpapan. “For Balikpapan, we might start with hotels, as mentioned by “market intel,” there will be positive effect driven by IKN program for hotels in Balikpapan,” he mentioned.

According to Susilo, a construction of one hotel may take up approximately IDR 200 billion. As of now, INPP has managed 14 hotels under 8 brands, ranging from 2-star until 5-star hotels, bringing up to 2,445 rooms in total.

“Average occupancy rate of our hotels are always maintained at 70%,” said Surina, Director of Finance of INPP, when met at the same occasion.

With this announcement of new project, INPP will add this Balikpapan hotel into the list of development projects handled in 2025, aside from 23 Semarang project that is estimated to be completed in Q1 2026 and Tower 2 of Antasari Place. (ZH)