Analisis Investasi Pada Proyek Pembangunan Properti Residensial Perumahan: Queen Park Residence

Amrullah, Alifsyah Faris (2025) Analisis Investasi Pada Proyek Pembangunan Properti Residensial Perumahan: Queen Park Residence. Other thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Kenaikan harga properti di pusat kota pasca pandemi mendorong pergeseran minat masyarakat dan investor ke kawasan suburban seperti Kabupaten Sidoarjo. Penelitian ini bertujuan untuk menganalisis penerimaan investasi proyek perumahan Queen Park Residence yang berlokasi di Kecamatan Krian, Sidoarjo, dengan pendekatan studi kelayakan yang mencakup kesesuaian tata ruang, aspek finansial, serta analisis sensitivitas. Analisis finansial dilakukan menggunakan metode Net Present Value (NPV), Internal Rate of Return (IRR), dan Payback Period (PP) guna menilai penerimaan proyek secara ekonomi. Untuk mengetahui batas-batas penerimaan dan ketahanan investasi terhadap ketidakpastian, dilakukan pula analisis sensitivitas terhadap variabel biaya lahan, biaya konstruksi, dan perubahan luas unit bangunan. Selain itu, analisis kesesuaian tata ruang juga dilakukan untuk menganalisis desain tapak perumahan dan bangunan dengan membandingkan pada peraturan bangunan yang berlaku. Hasil perhitungan menunjukkan bahwa proyek perumahan ini diproyeksikan memenuhi kriteria capital budgeting dengan nilai NPV positif sebesar Rp2.056.440.337, IRR yang lebih tinggi sebesar 11,56% dari Minimum Attractive Rate of Return (MARR) sebesar 7,05%, dan periode pengembalian modal yang masih dalam batas wajar yaitu 5 tahun 8 bulan. Analisis sensitivitas menunjukkan bahwa proyek tetap layak selama kenaikan biaya lahan tidak melebihi 4,78%. Lalu, biaya konstruksi tidak lebih dari 2,86% serta pada luas bangunan bangunan tidak melebihi 7,19%. Berdasarkan analisis sensitivitas, perubahan biaya konstruksi menjadi variabel yang paling sensitif karena memiliki batas titik kritis perubahan yang paling kecil dibandingkan dengan tiga variabel lainnya, yaitu dengan penurunan sebesar 2,86% dapat mengubah keputusan investasi. Lalu, analisis kesesuaian tata ruang menunjukkan bahwa proyek Perumahan Queen Park Residence telah memenuhi ketentuan zonasi dan parameter bangunan sesuai peraturan yang berlaku.
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The increase in property prices in city centers after the pandemic has driven a shift in public and investor interest toward suburban areas, such as Sidoarjo Regency. This study aims to analyze the investment acceptability of the Queen Park Residence housing project, located in Krian District, Sidoarjo, using a feasibility study approach that includes spatial conformity, financial analysis, and sensitivity analysis. The financial analysis is conducted using the Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP) methods to assess the project’s economic acceptability. To determine the acceptance thresholds and the investment’s resilience to uncertainty, a sensitivity analysis is carried out on key variables, including land costs, construction costs, and changes in building area. Additionally, a spatial conformity analysis is conducted to evaluate the site layout and building design by comparing them with the applicable building regulations. The calculation results indicate that the housing project meets capital budgeting criteria, with a positive NPV of IDR 2,056,440,337, an IRR of 11.56%, which exceeds the Minimum Attractive Rate of Return (MARR) of 7.05%, and a payback period of 5 years and 8 months, which is within a reasonable timeframe. The sensitivity analysis shows that the project remains financially feasible as long as land cost increases do not exceed 4.78%, construction cost increases do not exceed 2.86%, and reductions in building area do not exceed 7.19%. Among these variables, construction cost is identified as the most critical factor, as it has the narrowest tolerance limit; a decrease of just 2.86% could impact the investment decision. Furthermore, the spatial conformity analysis confirms that the Queen Park Residence project complies with zoning regulations and building parameters as stipulated by the prevailing local regulations.

Item Type:	Thesis (Other)
Uncontrolled Keywords:	Analisis Investasi, Analisis Sensitivitas, Kesesuaian Tata Ruang, Pemukiman yang Berkelanjutan, Investment Analysis, Sensitivity Analysis, Spatial Suitability, Sustainable Housing
Subjects:	H Social Sciences > HG Finance > HG4529 Investment analysis H Social Sciences > HG Finance > HG4910 Investments T Technology > TA Engineering (General). Civil engineering (General)
Divisions:	Faculty of Civil, Planning, and Geo Engineering (CIVPLAN) > Civil Engineering > 22201-(S1) Undergraduate Thesis
Depositing User:	Alifsyah Faris Amrullah
Date Deposited:	29 Jul 2025 03:35
Last Modified:	29 Jul 2025 03:38
URI:	http://repository.its.ac.id/id/eprint/122525

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