July 15, 2025

The Hidden Giant Rising in North Jakarta

Market Commentary

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Yesterday, we conducted a site visit to the PIK2 area, and as always, this growing township never fails to bring new surprises. One of our first stops was Si Mian Fo, and quite unexpectedly, we found that the location sits right next to a striking place of worship. Amid the modern and urban setting, the presence of a cultural and spiritual site added a layer of authenticity, suggesting that PIK2 is not just a property development but a dynamic new city in the making, rich in diversity and character.

But the highlight of the visit came when we arrived at a major development called NICE, which stands for Nusantara International Commercial Estate. From the moment we saw the site, the scale was immediately impressive. NICE is not just an exhibition hall. It is a 400,000 square meter multipurpose complex that can host up to 40,000 people. It is designed to become a central hub for business, logistics, and entertainment in PIK2. And this is not just a vision. Construction is actively progressing. Building C, which is expected to be used for medium-scale exhibitions, is already being roofed and is targeted for completion in September 2025. Building B has also reached the roofing stage, showing similar progress. This is no longer a plan on paper. It is happening, and it is moving quickly.

In terms of advantages, NICE offers a level of access and scale that few, if any, existing convention centers in Jakarta can match. Located just around seven minutes from Soekarno-Hatta International Airport, it is surrounded by major toll roads that connect directly to the city center. The PIK2 toll road, which will serve as the primary access point, has already been completed and is now awaiting operational clearance. Once open, it is expected to cut travel time from Jakarta to PIK2 down to just 10 to 15 minutes. That level of accessibility is a game changer, because a great venue today is not just about the size of the hall, but about how easy it is for people to get there quickly and comfortably, without being stuck in traffic.

The surrounding environment of NICE is also being developed as a complete urban ecosystem. Hotels, restaurants, retail spaces, sports facilities, and public parks are all part of the plan, creating a walkable and integrated destination. This makes NICE more than just a venue for events. It is a new district where business, leisure, and community can coexist and support one another.

What makes it even more compelling is that NICE is not being built to wait. It is being built to host events immediately. Several large-scale events have already been planned for the near future, including concerts, exhibitions, sports competitions, and business meetings. These events are expected to draw both national and international audiences. This means NICE is not a concept in development. It is an operational venue that is coming online soon and is prepared to meet a growing need that Jakarta’s existing infrastructure can no longer fulfill.

From what we observed during the site visit, it is clear that NICE is not a branding exercise. It is a serious, well-executed project with real momentum. With strong developer backing, improving infrastructure, and rising demand for large, flexible event space, NICE has the potential to become the new epicenter of exhibitions and business gatherings in the Greater Jakarta area. And PANI, the company behind this development, is no longer just a new name in property. It is evolving into a key player in shaping Indonesia’s next urban landscape.

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July 16, 2025

July 15, 2025

July 15, 2025