ASIATODAY.ID, JAKARTA – The Pantai Indah Kapuk (PIK) 2 Tropical Coastland development project by Agung Sedayu Group, owned by Sugianto Kusuma (Aguan), has been officially removed from Indonesia’s National Strategic Project (PSN) list. The decision was made by President Prabowo Subianto, revoking its previous designation under former President Joko Widodo (Jokowi).
The removal is stipulated in the Coordinating Minister for Economic Affairs Regulation (Permenko) No. 16 of 2025, which amends Permenko No. 7 of 2021 on the list of National Strategic Projects. The new regulation took effect on September 24, 2025.
According to the updated regulation, PIK 2 Tropical Coastland is no longer included in the PSN list. Previously, it was listed under the tourism sector at number 226, as stated in Permenko No. 12 of 2024 during Jokowi’s administration.
“Deleted,” reads the note beside the PSN list entry number 226, as cited from the new regulation on Monday, October 13, 2025.
Impact of the PSN Status Removal
With the revocation of its PSN status, the PIK 2 project will no longer receive privileges such as fast-track licensing, fiscal incentives, or infrastructure support typically granted to national strategic projects. Nevertheless, the development can still proceed under regular business regulations.
A Green Tourism Project Worth Rp65 Trillion
According to project records, PIK 2 Tropical Coastland aims to develop an environmentally friendly tourism zone with an investment value of approximately Rp65 trillion (USD 4.1 billion). The green development covers 1,755 hectares, featuring an eco-based design to support sustainable urban tourism.
Previously, PIK 2 was designated as part of 14 national projects — including Bumi Serpong Damai (BSD) by Sinar Mas Land — following an Internal Cabinet Meeting at the Presidential Palace led by President Jokowi on March 18, 2024.
The PIK 2 Tropical Coastland project is located along the north coastal corridor (Pantura) of Tangerang Regency, Banten, and serves as a continuation of the successful development of PIK 1 and the reclaimed Golf Island and Ebony Island, covering a total area of about 1,600 hectares.
With this removal, President Prabowo Subianto’s administration appears to be reviewing and recalibrating Indonesia’s National Strategic Project portfolio, particularly those commercial projects deemed less aligned with public interest or insufficiently impactful to the national economy. (AT Network)
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