Darmawan, Alifan Radhitya (2025) Analisis Sensitivitas Investasi Pengembangan Perumahan Madukoro Regency. Other thesis, Institut Teknologi Sepuluh Nopember.
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Abstract
Kota Semarang sebagai ibu kota provinsi menghadapi tantangan dalam memenuhi permintaan tempat tinggal yang terus meningkat. Melihat peluang tersebut, PT. Putra Wahid Land mengembangkan proyek perumahan Madukoro Regency di atas lahan seluas 26.660 m² dengan total 115 unit rumah. Lokasi strategis di tengah Kota Semarang memberikan nilai tambah pada perumahan, namun harga jual yang relatif tinggi berpotensi menjadi hambatan dalam pencapaian target penjualan, penelitian ini bertujuan menganalisis finansial serta analisis sensitivitas proyek Madukoro Regency menggunakan metode evaluasi investasi seperti Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), serta analisis sensitivitas. Hasil analisis menunjukkan bahwa proyek aman secara finansial dengan nilai NPV positif,IRR diatas dari nilai MARR 7,37%, serta payback period terjadi sebelum tahun ke 5. Analisis sensitivitas dilakukan terhadap variabel perubahan biaya investasi, biaya lahan, biaya konstruksi, dan penurunan pendapatan untuk mengetahui batas aman proyek terhadap variabel.Berdasarkan hasil analisis sensitivitas, investasi perumahan aman secara finansial bila kenaikan biaya investasi tidak lebih dari 10,82%, kenaikan biaya lahan tidak lebih dari 13,51%, kenaikan biaya konstruksi tidak lebih dari 61,02%, serta penurunan pendapatan tidak lebih dari 9,40%. Dari semua variable sensitivitas, variable yang paling sensitive adalah penurunan pendapatan.
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Semarang City, as the provincial capital, faces challenges in meeting the growing demand for housing. Recognizing this opportunity, PT. Putra Wahid Land is developing the Madukoro Regency housing project on a 26,660 m² plot consisting of 115 housing units. Its strategic location in the heart of Semarang adds value to the project; however, the relatively high selling price may hinder the achievement of sales targets. This study aims to analyze the financial feasibility and perform a sensitivity analysis of the Madukoro Regency project using investment evaluation methods such as Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and sensitivity analysis. The results show that the project is financially feasible, with a positive NPV, an IRR exceeding the Minimum Attractive Rate of Return (MARR) of 7.37%, and a payback period occurring before the fifth year. The sensitivity analysis was conducted on variables such as changes in investment cost, land cost, construction cost, and revenue reduction to determine the project's tolerance thresholds. Based on the analysis, the investment remains financially viable if the investment cost increases by no more than 10.82%, the land cost by no more than 13.51%, the construction cost by no more than 61.02%, and revenue decreases by no more than 9.40%. Among all variables, the most sensitive factor is the reduction in revenue.
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