Analisis Perbandingan Biaya investasi pada proyek pembangunan perumahan menggunakan perbankan dan permodalan mandiri

Studi kasus perumahan Green Scandinavian Ciliang

Abstract

This research focuses on a comparative analysis of investment costs in the Green Scandinavian Ciliang housing development project, based on the developer's lack of capital. The purpose of this study is to identify and compare the investment costs using two financing methods: banking and self-financing.

The research was conducted in two main stages. The first stage involved collecting data, specifically the company's cashflow data. The second stage involved analyzing this cashflow data using Engineering Economics calculations, which include Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). The analysis aims to assess the investment feasibility of these two funding sources.

The results of the study indicate that using bank financing results in an NPV of -Rp.1,321,549,397.76 with a discount rate of 11%, yielding a value <0. The IRR is -0.65%, which is lower than the desired rate of return (IRR > 11%-20%). The resulting Payback Period is 3.3 years, longer than the 3-year investment period. On the other hand, self-financing results in an NPV of Rp.9,167,813,781.67 with a discount rate of 5%, yielding a value >0. The IRR is 62.99% (IRR > 5%-15%) with a Payback Period of 1.61 years, which is faster than the 3-year investment period.