Billionaires Plan Major New City for 2060 [Video]

Indonesian billionaires are embarking on an ambitious $16 billion project to transform a formerly impoverished area of North Jakarta into a sprawling urban and tourist hub by 2060.

Known as PIK 2, the project aims to include a range of attractions such as a theme park, a Formula 1 racetrack, and a safari park while integrating a port to bolster international tourism.

Developed through a collaboration between the Agung Sedayu Group, headed by Sugianto Kusuma, and the Salim Group, led by Anthoni Salim. The two companies had also previously managed the PIK 1 area project, another real-estate endeavor.

The Agung Sedya Group describes the project as an, “integrated city with more significant potential and more comprehensive range of benefits and facilities to improve quality of life,” on its website.