Manalu, Fahrurrozi (2026) Strategi Optimalisasi Lahan Kosong Badan Usaha Milik Negara (BUMN) Di Jalan Karya Wisata Medan Menggunakan Pendekatan Highest And Best Use (HBU) Dan Value Based Decision (VBD). Masters thesis, Institut Teknologi Sepuluh Nopember.
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Abstract
Lahan kosong milik Badan Usaha Milik Negara (BUMN) sektor minyak dan gas yang berlokasi di Jalan Karya Wisata, Kelurahan Pangkalan Masyhur, Kecamatan Medan Johor, Kota Medan, memiliki luas 21.617 m² dengan Nilai Jual Objek Pajak (NJOP) tahun 2025 sebesar Rp74.064.375.000. Aset ini memiliki nilai strategis, tetapi belum dimanfaatkan secara produktif. Penelitian ini bertujuan menentukan alternatif pemanfaatan lahan yang paling optimal melalui integrasi Highest and Best Use (HBU) dan Value-Based Decision (VBD). Alternatif disusun melalui long-list sebelas kemungkinan penggunaan dan disaring berdasarkan kesesuaian legal, fisik, pasar, kebutuhan investasi, dan kesesuaian strategis sehingga diperoleh empat alternatif untuk dianalisis lebih lanjut, yaitu rumah hunian, perkantoran dan retail/komersial, sarana olahraga, serta kawasan mixed-use. Dalam kerangka VBD, Analytical Hierarchy Process (AHP) digunakan sebagai alat pembobotan fungsi dan biaya serta untuk mengagregasi penilaian empat responden internal pengelola aset melalui geometric mean, sedangkan Satisficing Option digunakan untuk membandingkan utilitas fungsi dan biaya. Analisis dilengkapi dengan kajian legal, fisik, pasar, finansial, Life Cycle Cost (LCC), produktivitas lahan, indikator produktivitas aset BUMN, analisis sensitivitas, dan identifikasi risiko pengembangan. Hasil penelitian menunjukkan bahwa seluruh alternatif secara umum memenuhi aspek legal dan fisik, meskipun alternatif berintensitas tinggi memerlukan pengendalian terhadap parkir, sirkulasi, drainase, kebisingan, dan kenyamanan lingkungan. Dari aspek finansial, alternatif perkantoran dan komersial menghasilkan NPV tertinggi sebesar Rp8,50 miliar, IRR 13,92%, dan Payback Period 8,94 tahun. Alternatif mixed-use menghasilkan NPV Rp8,24 miliar, IRR tertinggi 14,12%, dan Payback Period tercepat 8,85 tahun. Dari aspek produktivitas lahan, perkantoran dan komersial menghasilkan nilai lahan tertinggi Rp3.819.566/m², sedikit lebih tinggi dibandingkan mixed-use Rp3.807.560/m². Namun, pada kondisi operasi stabil tahun ke-4, mixed-use menghasilkan projected ROA, asset turnover, dan net asset yield tertinggi di antara alternatif yang dianalisis. Sintesis AHP menempatkan mixed-use sebagai alternatif terbaik dengan nilai 0,3178, sedangkan Satisficing Option menunjukkan hanya mixed-use yang memenuhi kriteria penerimaan dengan nilai V sebesar 7,8446. Risiko utama implementasi meliputi kenaikan biaya konstruksi, rendahnya okupansi, perubahan perizinan/tata ruang, over-supply, serta dampak lalu lintas dan lingkungan. Dengan pengembangan bertahap, validasi pasar, dan pengendalian risiko, kawasan mixed-use direkomendasikan sebagai strategi optimalisasi lahan yang paling seimbang bagi BUMN.
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Vacant land owned by a State-Owned Enterprise (SOE) in the oil and gas sektor, located on Jalan Karya Wisata, Medan, covers 21,617 m² and has a 2025 property-tax assessed value of IDR 74,064,375,000. This study determines the most appropriate land-use alternative by integrating Highest and Best Use (HBU) and Value-Based Decision (VBD). Eleven potential uses were initially identified and screened against legal, physical, market, investment, and strategic criteria, resulting in four alternatives: residential housing, office and retail/commercial development, sports facilities, and a mixed-use area. Within the VBD framework, the Analytical Hierarchy Process (AHP) serves as a weighting and preference-aggregation tool using the geometric mean of four internal asset-management respondents, while the Satisficing Option compares normalized functional utility and cost utility. The analysis also covers market, financial feasibility, Life Cycle Cost (LCC), land and corporate-asset productivity, sensitivity, and development risks. The office and commercial alternative produce the highest NPV of IDR 8.50 billion, while the mixed-use alternative records an NPV of IDR 8.24 billion, the highest IRR of 14.12%, and the shortest payback period of 8.85 years. Office and commercial use also produce the highest land value at IDR 3,819,566/m², slightly above mixed-use at IDR 3,807,560/m². Nevertheless, at the stable operating condition in year four, mixed-use provides the highest projected ROA, asset turnover, and net asset yield among the alternatives. The AHP synthesis ranks mixed-use first with a score of 0.3178, and the Satisficing Option confirms that only mixed-use meets the acceptance threshold, with V = 7.8446. The principal implementation risks are construction-cost escalation, occupancy shortfall, regulatory or zoning changes, property oversupply, and traffic/environmental impacts. Subject to phased implementation, market validation, and risk control, mixed-use is recommended as the most balanced SOE land-optimization strategy.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Optimalisasi lahan, BUMN, Highest and Best Use, Value-Based Decision, AHP, Mixed-Use, Land optimization, SOE |
| Subjects: | Q Science 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: | Fahrurrozi Manalu |
| Date Deposited: | 30 Jul 2026 02:16 |
| Last Modified: | 30 Jul 2026 02:16 |
| URI: | http://repository.its.ac.id/id/eprint/141042 |
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