Revitalization of property asset on the Dumilah Waterpark through the infill development of new activities

E. B. Santoso*, V. K. Siswanto, U. Sulistyandari

*Corresponding author for this work

Research output: Contribution to journalConference articlepeer-review

Abstract

Property assets owned by the city government should provide high benefits as a source of regional income. The asset is aging so that its productivity will decrease. The government is trying to revitalize assets to make them more productive. The purpose of this study is to determine the best utilization that can provide the highest benefit. The method used to assess the development of these assets is through the high best use approach. Several alternatives to the use of assets compared with the analysis of financial feasibility include the calculation of IRR, NPV, PP, ROI. The utilization of property assets that is more profitable for landowners, based on the results of the FGDs that have been carried out there is an opportunity to build a supporting facility for the development of Dumilah Water Park as a Hotel and Convention Hall. Both of these facilities have considerable economic appeal to support the function of the city of Madiun as a center for trade and services on a regional scale. Based on the calculation of financial feasibility at Dumilah Water Park with an initial investment amount of Rp. 60,354,000,000.00 then the Net Present Value is obtained of Rp. 6,258,119. Likewise, the Internal Rate of Return was obtained at 11.41%, greater than the 10% interest rate. Meanwhile, the Payback Period of this investment is 8 years with an ROI of 10%.

Original languageEnglish
Article number012005
JournalIOP Conference Series: Earth and Environmental Science
Volume778
Issue number1
DOIs
Publication statusPublished - 29 May 2021
Externally publishedYes
EventCITIES 2020 International Conference: Bridging the Past and the Future of Urban Landscape in the Asia Pacific - Surabaya, Virtual, Indonesia
Duration: 15 Oct 202016 Oct 2020

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