Optimalisasi Nilai Properti Pada Lahan PT. XYZ Dengan Model Highest And Best Use (HBU)

Nurdin, Raykhan Rizqullah (2025) Optimalisasi Nilai Properti Pada Lahan PT. XYZ Dengan Model Highest And Best Use (HBU). Masters thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Indonesia yang sedang berusaha berkembang dalam kancah persaingan dunia serta sedang menjadi pusat perhatian aktivitas ekonomi saat ini. Sektor yang menjadi perhatian dalam perkembangan ekonomi di Indonesia adalah sektor properti. Dengan adanya pertumbuhan dalam sektor properti ini menciptakan persaingan yang ketat di antara para pelaku bisnis properti untuk mencari lahan yang strategis dan mengoptimalkan nilai investasi mereka dalam mengembangkan lahan yang telah diperoleh. Penelitian ini bertujuan untuk mengidentifikasi alternatif pemanfaatan lahan seluas 1,4 hektar milik PT XYZ di kawasan Cakung Timur, Jakarta, dengan menggunakan pendekatan Highest and Best Use (HBU). Analisis dilakukan dengan mempertimbangkan empat aspek utama: legalitas, kelayakan fisik, finansial, dan produktivitas maksimum. Tiga alternatif pengembangan lahan dianalisis, yakni: komersial, hunian tapak, dan hunian bertingkat rendah. Hasil penelitian menunjukkan bahwa seluruh alternatif secara hukum memenuhi ketentuan zonasi dan tata bangunan. Dari sisi finansial, pengembangan kawasan komersial dan perumahan tapak sama-sama layak karena memberikan NPV positif dan IRR di atas WACC. Setelah dilakukan penilaian berbobot terhadap seluruh kriteria HBU, kawasan komersial memperoleh skor tertinggi, sehingga ditetapkan sebagai alternatif penggunaan lahan terbaik. Temuan ini memberikan rekomendasi strategis bagi PT XYZ untuk mengembangkan kawasan komersial yang tidak hanya berorientasi pada profitabilitas, tetapi juga sesuai dengan kebutuhan pasar urban.
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Indonesia, as an emerging country striving to compete on the global stage, is currently attracting significant economic attention. One of the key sectors driving economic development in the country is the property sector. The growth of this sector has intensified competition among property developers to secure strategic land and optimize the investment value of acquired land. This study aims to identify alternative land use options for a 1.4-hectare site owned by PT XYZ in East Cakung, Jakarta, using the Highest and Best Use (HBU) approach. The analysis considers four main aspects: legal permissibility, physical feasibility, financial feasibility, and maximum productivity. Three development alternatives were evaluated: commercial, landed housing, and low-rise residential. The findings indicate that all alternatives comply with zoning and building regulations. From a financial perspective, both commercial and landed housing developments are feasible, offering positive NPV and IRR values above the WACC. Based on a weighted assessment of all HBU criteria, the commercial development alternative received the highest score and is therefore identified as the optimal land use. These findings provide strategic recommendations for PT XYZ to pursue a commercial development that is not only profitable but also aligned with urban market demands.

Item Type:	Thesis (Masters)
Uncontrolled Keywords:	Highest and Best Use, pengembangan properti, analisis kelayakan, kawasan komersial, optimalisasi lahan, Highest and Best Use, property development, feasibility analysis, commercial area, land optimization
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD1387 Valuation H Social Sciences > HD Industries. Land use. Labor > HD30.24 Feasibility studies. Feasibility appraisals H Social Sciences > HD Industries. Land use. Labor > HD30.28 Planning. Business planning. Strategic planning. H Social Sciences > HG Finance > HG4529 Investment analysis T Technology > T Technology (General) > T56.8 Project Management
Divisions:	Interdisciplinary School of Management and Technology (SIMT) > 61101-Master of Technology Management (MMT)
Depositing User:	Raykhan Rizqullah Nurdin
Date Deposited:	15 Jul 2025 01:32
Last Modified:	15 Jul 2025 01:32
URI:	http://repository.its.ac.id/id/eprint/119753

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