Asset Optimization Through Utilizing of Vacant Land (Case Study: PT JKL Jakarta)

The study aims to analyzed the optimization of vacant land assets owned by PT JKL, strategically located on Jalan Kayu Putih Raya in East Jakarta. The area is characterized by high mobility, making it essential to assess the land use for optimal efficiency. This assessment will identify the most suitable land use according to the highest and best use principle, which maximizes both building potential and profitability from permissible uses. The analysis resulted in a mixed-use building concept that integrates the functions of a hospital with service apartments. This combination is estimated to generate the highest and best increase in land value, at IDR 74.89 million per square meter, and a 222.79% increase in productivity after development. Over an investment period of more than ten years, the project is expected to generate a net present value of IDR 240.72 billion, an internal rate of return of 17.72%, and a payback period of 9 years and 11 days.