Tag Archive for: Property Development

This study examines the optimization strategy of property development plan changes for Bumi Cipta 3 Jakarta, a project by PT Cipta Bangun Property, one of the largest property companies in Indonesia. The analysis uses the Analytic Hierarchy Process (AHP), a multi-criteria decision-making (MCDM) method. The project is motivated by significant post-pandemic shifts in office space demand within Jakarta’s Central Business District. The study identifies four alternative development options: continuing with the office tower plan, or pivoting to an apartment, data center, or hospital. By interviewing key decision-makers and using the AHP method, the research evaluates financial and non-financial criteria, such as market attractiveness and site analysis. The findings suggest that the hospital alternative offers the highest potential in both financial returns and market alignment, followed by the data center and apartment projects. Strategic recommendations are provided to prioritize the hospital project while keeping the other alternatives in consideration for phased development, thus ensuring flexibility in response to future market conditions.