Jakarta is the capital and largest city of Indonesia. It also has a greater population than any other city in Southeast Asia. Jakarta (also DKI Jakarta), is the capital and largest city of Indonesia. It also has a greater population than any other city in Southeast Asia. It was formerly known as Sunda Kelapa (397-1527), Jayakarta (1527-1619), Batavia (1619-1942), and Djakarta (1942-1972). Located on the northwest coast of Java, it has an area of 661.52 square kilometres (255.41 sq mi) and a population of 8,489,910[1]. Jakarta is the country's economic, culture and political center. Jakarta currently is the twelfth largest city in the world. Its metropolitan area, Jabodetabek, contains more than 23 million people, and is part of an even larger Jakarta-Bandung megalopolis. Jakarta is served by the Soekarno-Hatta International Airport and Tanjung Priok harbour. Since 2004, Jakarta, while under the governance of Sutiyoso, has built a new bus system known as "TransJakarta" or "Busway", and is now planning to expand the number of routes. The city had hoped to establish its newest transportation system, the Jakarta Monorail, in 2007, but the project was abandoned by the developer, PT Jakarta Monorail, in March 2008. Jakarta is the location of the Jakarta Stock Exchange, the Bank of Indonesia, and the National Monument, or Tugu Monas.