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Selasa, Oktober 11, 2022

Government Set to Introduce 80-year HGB Incentives for Investors in IKN Nusantara by October 2022

Land and Property

The Ministry of Agrarian Affairs and Spatial Planning/National Land Office’s Head of Public Relations Bureau, Yulia Jaya Nirmawati ("Head"), has issued a statement affirming that the government is set to complete the drafting of a new regulation on Right-to-Build (Hak Guna Bangunan - "HGB") incentives by October 2022, which will allow investors in the forthcoming state capital city of Indonesia (Ibu Kota Negara – "IKN"), Nusantara, to secure 80-year HGB land titles.
The abovementioned HGB incentives were previously addressed under Law No. 3 of 2022 on the State Capital City ("Law 3/2022"), which mandates the establishment of a new Regulation of the Government that will further elaborate upon provisions that address the granting of said HGB incentives. The granting of said incentives must also be undertaken in line with Law 3/2022, which authorizes the authority of IKN Nusantara (“Authority”) to grant land rights, including HGB, along with any relevant extensions, as required.
The above HGB period will be granted gradually during one cycle in line with the following phases: 1) Initial granting: 30-year period; 2) Extension: 20-year period; and 3) Renewal: 30-year period. However, the Head has stated that the forthcoming regulation may allow for the granting of a further HGB cycle amounting to another additional 80-year period, provided that the respective land may still be utilized.
In relation to the above matters, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency, Hadi Tjahjanto ("Minister"), has affirmed that the granting of the above-described 80-year HBG period, which may also be re-extended up to a 160-year period, has been introduced in an effort to attract investors to establish businesses and ultimately settle down in IKN Nusantara.

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The Ministry of Agrarian Affairs and Spatial Planning/National Land Office’s Head of Public Relations Bureau, Yulia Jaya Nirmawati ("Head"), has issued a statement affirming that the government is set to complete the drafting of a new regulation on Right-to-Build (Hak Guna Bangunan - "HGB") incentives by October 2022, which will allow investors in the forthcoming state capital city of Indonesia (Ibu Kota Negara – "IKN"), Nusantara, to secure 80-year HGB land titles.
The abovementioned HGB incentives were previously addressed under Law No. 3 of 2022 on the State Capital City ("Law 3/2022"), which mandates the establishment of a new Regulation of the Government that will further elaborate upon provisions that address the granting of said HGB incentives. The granting of said incentives must also be undertaken in line with Law 3/2022, which authorizes the authority of IKN Nusantara (“Authority”) to grant land rights, including HGB, along with any relevant extensions, as required.
The above HGB period will be granted gradually during one cycle in line with the following phases: 1) Initial granting: 30-year period; 2) Extension: 20-year period; and 3) Renewal: 30-year period. However, the Head has stated that the forthcoming regulation may allow for the granting of a further HGB cycle amounting to another additional 80-year period, provided that the respective land may still be utilized.
In relation to the above matters, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency, Hadi Tjahjanto ("Minister"), has affirmed that the granting of the above-described 80-year HBG period, which may also be re-extended up to a 160-year period, has been introduced in an effort to attract investors to establish businesses and ultimately settle down in IKN Nusantara.

......

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Precedent Hukumonline
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PROFESSIONAL

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per bulan

Semua Fitur Paket Standard
Terjemahan Peraturan
Peraturan Konsolidasi
Premium Stories
Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

per bulan

Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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