Written by Stanislav Sadovnikov, Founder, Magnum Estate ·
Published 19 January 2026
The Magnum Estate IKN project has been announced: the company plans to implement a large multifunctional development in Nusantara, the new capital of Indonesia. Construction is set to begin in 2025.
Igor Maximov, co-founder of the company, told Kompas.com: “We are creating a complex that will fully meet the needs of this unique place.” The project includes retail spaces and service apartments at the level of five-star hotels.
The new facility will be located on a 1.3-hectare site. A letter of intent was signed on August 8, 2024. The amount of investment has not yet been disclosed.
This project is positioned as an important step in the development of the new capital of Indonesia and is intended to strengthen Magnum Estate’s position as a leading developer of premium real estate in the country.
Related reading: see our Bali real estate market outlook for 2026 and explore current developments on the Magnum Estate projects page.
About the author
Stanislav Sadovnikov is the founder of Magnum Estate (PT Magnum Estate International), an award-winning full-cycle Bali real estate developer with 8 projects and 575 units since 2019 (Berawa, Sanur, Umalas, Sky Stars, Sky Royal). He writes about Bali pricing, yields, ownership rules and regulation for international buyers.
