Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development

Christiono Utomo; Sulfiah Dwi Astarini; Rosnia Robi

doi:10.1007/978-981-97-0751-5_8

Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development

Christiono Utomo
, Sulfiah Dwi Astarini^*
, Rosnia Robi

^*Corresponding author for this work

Institut Teknologi Sepuluh Nopember

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Economic development in the industrial and trade sectors and opening access to the Surabaya–Gempol–Pasuruan Toll Road directly to the Pasuruan PIER Industrial area opens opportunities for regional development. Along with this, commercial and residential properties are also developed. The need for land is increasing and is in demand by investors, including a 4000 m² land area approximately 4 km from the PIER area. The land is in the development plan as a housing support facility located behind it and generates optimal financially profitable value. Based on this, it is necessary to conduct studies to optimize land use and utilization that can provide the highest land value using the Highest and Best Use (HBU) method. HBU and multi-criteria models can be used as stakeholder decisions. Four HBU criteria are used in this study: legally permissible, physically possible, financially feasible, and producing maximum productivity. From the financial aspect, the development of alternative shophouses has a maximum land value and Internal Rate of Return (IRR) of 13%.

Original language	English
Title of host publication	Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023
Editors	Elham Maghsoudi Nia, Mokhtar Awang
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	81-88
Number of pages	8
ISBN (Print)	9789819707508
DOIs	https://doi.org/10.1007/978-981-97-0751-5_8
Publication status	Published - 2024
Event	7th International Conference on Architecture and Civil Engineering, ICACE 2023 - Putrajaya, Malaysia Duration: 15 Nov 2023 → 15 Nov 2023

Publication series

Name	Lecture Notes in Civil Engineering
Volume	466
ISSN (Print)	2366-2557
ISSN (Electronic)	2366-2565

Conference

Conference	7th International Conference on Architecture and Civil Engineering, ICACE 2023
Country/Territory	Malaysia
City	Putrajaya
Period	15/11/23 → 15/11/23

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth
SDG 15 Life on Land

Keywords

Highest and Best Use
Land
Productivity
Sustainable

Access to Document

10.1007/978-981-97-0751-5_8

Cite this

Utomo, C., Astarini, S. D., & Robi, R. (2024). Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development. In E. M. Nia, & M. Awang (Eds.), Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023 (pp. 81-88). (Lecture Notes in Civil Engineering; Vol. 466). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-981-97-0751-5_8

Utomo, Christiono ; Astarini, Sulfiah Dwi ; Robi, Rosnia. / Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development. Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023. editor / Elham Maghsoudi Nia ; Mokhtar Awang. Springer Science and Business Media Deutschland GmbH, 2024. pp. 81-88 (Lecture Notes in Civil Engineering).

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abstract = "Economic development in the industrial and trade sectors and opening access to the Surabaya–Gempol–Pasuruan Toll Road directly to the Pasuruan PIER Industrial area opens opportunities for regional development. Along with this, commercial and residential properties are also developed. The need for land is increasing and is in demand by investors, including a 4000 m2 land area approximately 4 km from the PIER area. The land is in the development plan as a housing support facility located behind it and generates optimal financially profitable value. Based on this, it is necessary to conduct studies to optimize land use and utilization that can provide the highest land value using the Highest and Best Use (HBU) method. HBU and multi-criteria models can be used as stakeholder decisions. Four HBU criteria are used in this study: legally permissible, physically possible, financially feasible, and producing maximum productivity. From the financial aspect, the development of alternative shophouses has a maximum land value and Internal Rate of Return (IRR) of 13\%.",

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Utomo, C, Astarini, SD & Robi, R 2024, Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development. in EM Nia & M Awang (eds), Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023. Lecture Notes in Civil Engineering, vol. 466, Springer Science and Business Media Deutschland GmbH, pp. 81-88, 7th International Conference on Architecture and Civil Engineering, ICACE 2023, Putrajaya, Malaysia, 15/11/23. https://doi.org/10.1007/978-981-97-0751-5_8

Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development. / Utomo, Christiono; Astarini, Sulfiah Dwi; Robi, Rosnia.
Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023. ed. / Elham Maghsoudi Nia; Mokhtar Awang. Springer Science and Business Media Deutschland GmbH, 2024. p. 81-88 (Lecture Notes in Civil Engineering; Vol. 466).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Utomo, Christiono

AU - Astarini, Sulfiah Dwi

AU - Robi, Rosnia

N1 - Publisher Copyright: © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.

PY - 2024

Y1 - 2024

N2 - Economic development in the industrial and trade sectors and opening access to the Surabaya–Gempol–Pasuruan Toll Road directly to the Pasuruan PIER Industrial area opens opportunities for regional development. Along with this, commercial and residential properties are also developed. The need for land is increasing and is in demand by investors, including a 4000 m2 land area approximately 4 km from the PIER area. The land is in the development plan as a housing support facility located behind it and generates optimal financially profitable value. Based on this, it is necessary to conduct studies to optimize land use and utilization that can provide the highest land value using the Highest and Best Use (HBU) method. HBU and multi-criteria models can be used as stakeholder decisions. Four HBU criteria are used in this study: legally permissible, physically possible, financially feasible, and producing maximum productivity. From the financial aspect, the development of alternative shophouses has a maximum land value and Internal Rate of Return (IRR) of 13%.

AB - Economic development in the industrial and trade sectors and opening access to the Surabaya–Gempol–Pasuruan Toll Road directly to the Pasuruan PIER Industrial area opens opportunities for regional development. Along with this, commercial and residential properties are also developed. The need for land is increasing and is in demand by investors, including a 4000 m2 land area approximately 4 km from the PIER area. The land is in the development plan as a housing support facility located behind it and generates optimal financially profitable value. Based on this, it is necessary to conduct studies to optimize land use and utilization that can provide the highest land value using the Highest and Best Use (HBU) method. HBU and multi-criteria models can be used as stakeholder decisions. Four HBU criteria are used in this study: legally permissible, physically possible, financially feasible, and producing maximum productivity. From the financial aspect, the development of alternative shophouses has a maximum land value and Internal Rate of Return (IRR) of 13%.

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KW - Productivity

KW - Sustainable

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PB - Springer Science and Business Media Deutschland GmbH

T2 - 7th International Conference on Architecture and Civil Engineering, ICACE 2023

Y2 - 15 November 2023 through 15 November 2023

ER -

Utomo C, Astarini SD, Robi R. Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development. In Nia EM, Awang M, editors, Advances in Civil Engineering Materials - Selected Articles from the 7th International Conference on Architecture and Civil Engineering ICACE 2023. Springer Science and Business Media Deutschland GmbH. 2024. p. 81-88. (Lecture Notes in Civil Engineering). doi: 10.1007/978-981-97-0751-5_8

Measuring Land Productivity for Stakeholder Decision to Get the Best Use in Property Development

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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