Horizon Jakarta · Feasibility
Project Scenario & Stress Test
10-year projection for the whole Jakarta project — tower, data centre, software platform — with editable inputs and named stress scenarios. All blue numbers are live; the chart and KPIs recompute as you adjust them.
Total capex
$230M
Stabilised revenue
$85.9M
Stabilised EBITDA
$67.4M
EBITDA yield · hurdle 7.0%
29.3%
Payback
2036
Clears hurdle·Scenario: Base·Launch year: 2031
Named scenarios
10-year projection · 2027 – 2037
USD millions
Launch 2031 · stabilised 2035+
Year-by-year (USD M)
| Year | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | 2034 | 2035 | 2036 | 2037 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex | 57.5 | 57.5 | 50.0 | 50.0 | 15.0 | — | — | — | — | — | — |
| Revenue | — | — | — | — | 17.0 | 31.9 | 50.5 | 68.9 | 85.9 | 95.3 | 104.6 |
| Opex | — | — | — | -7.2 | -11.9 | -15.6 | -16.9 | -17.9 | -18.5 | -18.5 | -18.5 |
| EBITDA | — | — | — | -7.2 | 5.1 | 16.3 | 33.6 | 51.1 | 67.4 | 76.8 | 86.1 |
| Net cash | -57.5 | -57.5 | -50.0 | -57.2 | -9.9 | 16.3 | 33.6 | 51.1 | 67.4 | 76.8 | 86.1 |
| Cumulative | -57.5 | -115.0 | -165.0 | -222.2 | -232.1 | -215.8 | -182.2 | -131.1 | -63.6 | 13.1 | 99.2 |
Tower capex
98k sqm NLA · 316m · 67 storeys · Kuningan CBD repurpose
Conversion$140.0M
Phased2027 – 2030
Data centre capex
In-tower 0.5 MW Tier III financial-ops node
Build$15.0M
Phased2027 – 2028
Software capex
Jasmine + Singapore VCC + acquired AM licence
Core + VCC + licence$30.0M
Bank connectivity$10.0M
Market connectivity$12.0M
Tokenisation + custody$13.0M
Compliance + OJK$10.0M
Total$75.0M
Stabilised revenue
Year 2035 · 100.0% ramp
Office rent$27.5M
DC colocation$1.2M
AM management fee$44.3M
Processing / flow$6.0M
Custody$2.0M
SaaS / licensing$5.0M
Total$85.9M
Stabilised opex
Owner costs (excl. power pass-through)
Tower opex$5.0M
DC opex$1.5M
DR opex$0.0M
Platform & personnel$12.0M
Total$18.5M
Returns
vs blended hurdle
Stabilised EBITDA$67.4M
EBITDA yield29.3%
Hurdle7.0%
Payback2036
Clears hurdleYes