Citadel Group Expands Into Indonesia, Commits To Nusantara Development

KUALA LUMPUR, Jan 27 (Bernama) -- Citadel Group has announced its expansion into Indonesia with the establishment of PT Citadel Group Indonesia in Jakarta.

Citadel Group managing director Fred Chan said the move marks a significant milestone in its growth as the company aims to strengthen its position as a global leader while retaining its strong ASEAN identity.

As part of its strategic growth, Citadel Group has signed a Letter of Intent to state its commitment to spearheading transformative land development and digitalisation initiatives in Indonesia's ambitious Nusantara Capital City (IKN) project. The company plans to develop a residential area as part of its contribution to the landmark project.

The Nusantara Capital Authority (OIKN) has confirmed Citadel’s involvement, making it the second foreign investor in this historic venture.

“Our involvement in Nusantara represents more than just an investment, it is a pledge to foster innovation and strengthen regional ties. At Citadel, we are driven by a mission to create impactful opportunities that elevate communities and shape a brighter future for ASEAN,” said Chan in a statement.

Citadel Group, a leading name in digital finance, offers Islamic-compliant wealth products and services with licensed expertise.

Its key subsidiary, Citadel Technologies, has also made significant progress, earning two prestigious certifications—ISO 9001:2015 for Quality Management Systems and ISO 27001:2022 for Information Security Management.

Chan said these certifications reflect the company's dedication to upholding the highest standards of quality and security in its digital transformation and wealth management services.

Meanwhile in Malaysia, Citadel Technologies continues to drive innovation through partnerships, including a notable collaboration with the Selangor Football Club in digital finance and the upcoming launch of an Islamic travel app.

As Citadel Group prepares to mark its sixth year, its achievements set the stage for an even more transformative future. With its initial public offering scheduled for 2025, Citadel is positioning itself at the forefront of ASEAN’s economic evolution.

By leveraging strategic partnerships and sustainable growth initiatives, Citadel aims to redefine wealth management and digital transformation across the region.

-- BERNAMA