For decades, Sugianto Kusuma — known universally as Aguan — has built Indonesia's most ambitious coastal city from reclaimed swampland. His PIK 2 project, a 2,650-hectare "New Jakarta" positioned 7 minutes from Soekarno-Hatta International Airport, was the crown jewel. Then President Prabowo revoked its Strategic National Project status. Forbes Indonesia looks at what happens when the country's most powerful developer loses his government shield — and why the project may survive anyway.

From Jakarta's financial heartland to its most coveted residential corridors, Indonesia's ultra-luxury property market is setting new benchmarks. Here are the three most expensive residential developments commanding attention — and capital — in 2026.

Two Sudirman Private Residences, Jakarta's tallest residential development, has announced a landmark partnership with Andaz — Hyatt's globally acclaimed lifestyle hotel brand — marking a new era of ultra-luxury urban living in Indonesia's premier business district.