The city, PIK 2, is worth about $16 billion and is intended to drive tourism to the area. Bloomberg reported the developers are in touch with partners in China and Singapore to build a port at PIK 2. Indonesian business tycoons are moving ahead with an ambitious real estate project: building a new city in North Jakarta to boost tourism. The publicly traded parent company behind the project — PT Pantai Indah Kapuk Dua — has a $16 billion market capitalization. AdvertisementRepresentatives for Kusuma at PT Pantai Indah Kapuk Dua and Agung Sedayu Group did not respond to requests for comment from Business Insider.

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Persons: Agung, Sugianto Kusuma —, Salim, Anthoni Salim, Agung Sedayu, Kusuma, It's, Joko Widodo Organizations: Bloomberg, Salim Group, PT, Hatta, Forbes, Nusantara, Kusuma, Agung Sedayu, Business Locations: North Jakarta, The, China, Singapore, Agung Sedayu, Kapuk, Soekarno, Indonesia, Jakarta, East Kalimantan, Borneo, Kapuk Dua, Agung