Jakarta invites Singapore investors to co-develop transit-oriented zones along MRT corridor
MRT Jakarta is seeking Singaporean investors to partner on several transit-oriented development sites, while land ownership stays with the government.
During a TOD Investment Forum in Singapore, MRT Jakarta opened a portfolio of transit-oriented development sites to foreign investors, focusing on Singaporean capital and know-how. The sites include Kali Besar Heritage, Ultimate Development Blok M, Blok M Interchange, XGL Mixed-Use, and the Lebak Bulus Interchange Bus Terminal and Park-and-Ride. Officials emphasized that land will remain government-owned under Governor Regulations No. 15/2020 and No. 65/2021, with investors participating through joint-venture or joint-operation arrangements.
The initiative follows Governor Pramono Anung’s discussion with Singapore Prime Minister Lawrence Wong and aims to fund urban growth without tapping the regional budget. MRT Jakarta’s property head, Muchadam Iqbal Bimo Arifianto, said partnership terms such as duration are still being negotiated, and no specific investment target has been set yet. The strategy seeks to accelerate development, improve public spaces and boost mass-transit use while maintaining transparent governance.
Why it matters
Foreign capital and expertise could accelerate Jakarta's urban infrastructure without relinquishing public land control.
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