Indonesia blindsided by ruling against Nusantara’s 190-year land right law

Indonesia’s plan to build a new capital in East Kalimantan is facing renewed scrutiny after the Constitutional Court scrapped a regulation granting investors land rights of up to 190 years – a move welcomed by indigenous groups but seen by developers as a potential deterrent to investment. The decision underscores the mounting challenges facing the 466 trillion rupiah (US$28 billion) Nusantara project, which has attracted lukewarm investor interest since former president Joko Widodo launched it...