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Land development daan mogot
This document summarizes a proposed mixed-use land development project located at Jl. Daan Mogot Km 12.8, West Jakarta. The 17.2-hectare site is zoned for residential and commercial use with a maximum height of 16 floors. It is well-located near transportation infrastructure like the Bojong Indah train station and future LRT and MRT lines. A financial analysis estimates total investment costs of $738.64 million, to be financed through a 70% owner equity and 30% bank loan structure. The proposed development includes 301,000 square meters of apartments, 180,600 square meters of offices, and 120,400 square meters of commercial space.
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Land development daan mogot
- 1. EXECUTIVE SUMMARY MIXED USELAND DEVELOPMENT JL.DAAN MOGOT KM 12,8 JAKARTA BARAT January 2017
- 2. Land Location Jl.Daan Mogot Km 12,8 Kel. Rawa Buaya Kec. Cengkareng , Jakarta Barat
- 3. LAND LOCATION Administratively, landlocation located in Rawa Buaya district. Cengkareng, West Jakarta, precisely located at Jl. Daan Mogot (south side) and Jl. Kembangan Baru (west side), so this land has a beneficial interest related to its accessibility as it can be accessed through Jl. Daan Mogot (main access) and Jl. Kembangan Baru (secondary access) as shown in Figure 1. This land location can also be accessed via the Outer Ring Toll road which is only about 2 km from the land location. In the presence of toll roads is relatively close to the land location, then the achievement of the location and otherwise to a new sub urban development (new town) and to CBD (Central Business District) at northern region (Pantai Indah Kapuk, reclamation area coast) including the objective to Soekarno Hatta Airport and southern regions (Bumi Serpong Damai), CBD Jakarta will be easier.
- 4. Land Location MoreDetails Jl. Daan Mogot Km 12,8 Kel. Rawa Buaya Kec. Cengkareng , Jakarta Barat Gambar 1
- 5. LAND INTENSITY &LEGALITY In accordance with DKI Jakarta Provincial Regulation No. 1 Year 2014 on Detailed Spatial Plan (RDTR) and Zoning Regulations (PZ) is a mixed use land use (Residential & Commercial) with the intensity of land as the following Table Legality Land: Clear & Clean. Land Intensity Regulation Development Area 17,2 Ha Building Floor Area Ratio (FAR) 3,5 Building Coverage Ratio 45% Building Height 16 Floors Green Area Ratio 30% Basement Footprint Ratio 55% Land Use : Mixed Use (Residential & Commercial)
- 6. LAND LOCATION ONTHE MASS TRANSPORT NETWORK Jakarta as a metropolitan city where the daily movement about 25.4 million trips including trips Bodetabek (Bogor, Depok, Tangerang and Bekasi). From the total trips (25.4 million trips), only about 19% of trips using public transport, including Transjakarta buses, large buses, medium and small and trains, while most of the trip (over 80%) use private transport modes. In the next few years, the intensity of the density of development in Jakarta will continue to grow. It can be seen from the number of integrated area development plan that has a high skyscraper and the main land-use mix. Obviously this will have an impact on increasing the number of trips that occurred in the city and the higher the level of congestion. In seeking a solution to the congestion problem above, the Jakarta Provincial Government and the Central Government has been doing development based mass transport modes road and rail (Busway, LRT, MRT). With the integration of modes of mass transportation is later coupled with traffic restrictions (traffic restraint), the government's target in 2030 is 60% of public transport users and 40% of private transport. Thus the land that is supported by good mass transportation which is a STARTEGIC and PROFITABLE land to be developed.
- 7. LAND LOCATION ONTHE MASS TRANSPORT NETWORK The location of land offered is very strategically and advantageous because it is supported by a good mass transportation as follows: Relatively close to Bojong Indah stations (station distance by land only about 650 meters) which is the node switching between modes of mass transit (Commuter Line Jakarta-Tangerang and Soekarno Hatta Airport Train). Crossed Busway Corridor 3 Kalideres - Harmoni (existing busway) Close to the LRT (Ligh Rail Transit) station of Jakarta government LRT future plan (Corridor 5 from Pesing to Kelapa Gading) Close to the MRT plan of East - West (Tangerang - Cikarang) Mass transit network plan as shown in the following picture Additional benefits of this land is close to the planned of six (6) segments elevated toll road (Semanan - Sunter) which is connected to the toll road network that already includes future plans LAND PRICE With the potential of land and profits derived from land development as stated previously, the price of land and the payment system is as follows: Land Price: USD 654 / sqm The payment system is set later on aggreement between the buyer and the owner
- 8. D E b l c m i g d f h o k e j n A B P Z Y X 1 a 2 F C A G MONOREL Green Line MONORELBlue Line MRT Lebak Bulus – Dukuh Atas BKT Cakung – Cawang BKS Cawang – Karet BKB Karet Cengkareng Jalur Bandara Lebak Bulus – Harmoni Pinang Ranti – Grogol – Pluit Cililitan - Tanjung Priok Blok M – Kota Pulo Gadung - Harmoni Kalideres - Harmoni Pulogadung – Dukuh Atas Kampung Melayu - Ancol Ragunan - Kuningan Kp. Rambutan – Kp. Melayu MRT Dukuh Atas – Kp. Bandan Pulogebang – Kampung Melayu Pluit – Tanjung Priok Pondok Kelapa – Blok M UI – Pasar Minggu - Manggarai Ciledug - Blok M a b c d e f g h i j k l m n o A B 1 2 X Y Z P Railway Jalur Serpong Railway Jalur Bogor Railway Jalur Bekasi Railway Jalur Tanjung Priok Railway Jalur Tengah Railway Jalur Lingkar Railway Jalur Tangerang A B C D E F G Pengembangan Rel Kereta JABOTABEK Pembangunan Double Tracking Pembangunan Lintasan Tidak Sebidang B Mass Transportation System Development Jakarta Year 2004 - 2020 Land Location on Mass Transit Network
- 9. Mass Public Transportationin Cengkareng Districts Land Location Jl. Daan Mogot Km 12,8 +650 m Bojong IndahTrain Station Airport Train
- 10. Land Location Jl. DaanMogot Km 12,8 COMMUTER LINE
- 11. Ligh Rail Transit(LRT) Plan Land Location Jl. Daan Mogot Km 12,8
- 12. CONCEPT OF RAILWAYJABODETABEK MASTERPLAN 2020 (2)
- 13. Lokasi Lahan Jl. DaanMogot Km 12,8 AIRPORT RAILWAY PLAN
- 14. Mass Public TransportDevelopment Plan (MRT) Land Location on MRT Plan
- 15. Airport Tangerang ke Merak Serpong ke Bogor keBekasi/ Cikampek ke Bekasi Pulo Gebang Kampung Melayu Cawang Pasar Minggu Ulujami Tomang Pluit Kemayoran Sunter Taman Mini Eksisting Lingkar Luar (Penyelesaian) Akses Tanjung Priok (Rencana) 6 Ruas Jalan Tol (Rencana) Depok - Antasari Toll Road Network Systems Development Year 2004 - 2020 1 2 6 5 4 3 Rawa Buaya
- 16. TRANSIT ORIENTED DEVELOPMENT(TOD) With a land area that is large enough (17.2 ha) and is supported mass transit, with Bojong Indah stations that were located relatively close to land, then the land has the potential to be developed into a regional TOD, TOD is one of the government's policy to reduce congestion. Supported by mass transit to this area it is possible to optimize or increase the existing of the Floor Area Ratio (FAR) from 3,5 to 6 TOD Transit Oriented Development
- 17. Brief Overview of FINANCIALFEASIBILITY
- 18. Proposed Development Proposed LandUse Composition Minimum Parking Requirement Lots Apartment 301.000 3.655 1 : 2 1.828 Office 180.600 1 : 100 1.806 Commercial Area 120.400 1 : 60 2.007 Total 602.000 5.640 Land Use SGFA (m2) Room (Unit) Minimum Parking Requirement Parking Ratio % sqm unit Apartement 50% 301.000 85% 255.850 3.655 Office 30% 180.600 85% 153.510 Commercial Area 20% 120.400 70% 84.280 Total 602.000 493.640 3.655 Leasable Area Land Use % SGFA (sqm) Development Area Luas Daeran Perencanaan Building Coverage Ratio Koefisien Dasar Bangunan (KDB) Building Floor Area Ratio (Plot Area) Koefisien Luas Bangunan (KLB) Building Coverage Area Luas Lantai Dasar FAR Area (SGFA) Luas Lantai Dasar Minimum Parking Area Luas Parkir Minimum FAR Maximum/ 80% for MEP (GFA) Luas Area Maximum/ 80% MEP Maximum GFA (100% of GFA) Luas Lantai Total Building Height Ketinggian Bangunan Green Area Ratio Koefisien Dasar Hijau (KDH) Basement Footprint Ratio Koefisien Tapak Basement (KTB) Minimum Parking Numbers Jumlah Parkir Minimum PROPOSED DESIGN Based on Permit Requirement 172.000 sqm 45% 3,5 77.400 sqm 602.000 sqm 169.205 sqm 752.500 sqm 921.705 sqm 5.640 cars 16 floors 30% 51.600,00 sqm 55% 94.600,00 sqm
- 19. Assumptions 1. The Landprice : USD 654 /sqm 2. Construction Cost : 3. The licensing cost, planning, construction management (CM) : 8% x construction cost 4. Marketing costs : 3% x sales revenue 5. Routine maintenance cost : (2.5%/year x construction cost), and periodic maintenance cost or replacement for every 5 years : (5% x the cost of construction) 6. Sources of financing : 7. Lending rate : 11.5% per year, and loan time : 10 Years 8. Income (revenue) obtained from the selling price of unit apartment/ office/ commercial area and service charge (SC). The selling price of the apartment / office/ commercial area and SC per sqm attached. The increase in SC by 5% per year. 9. Income tax (VAT) : 25% 10. Time for building management : 25 Years No. Land Use Area (sqm) Const. Cost (USD/sqm) 1 Apartment 301.000 687 2 Office 180.600 654 3 Commercial Area 120.400 670 4 Parking (Basement/Podium) 141.004 458 5 MEP 150.500 458 6 Public & Social Facilities 30.100 196 No. Description Owner's Equity Bank Loans 1 Purchaseof Land 70% 30% 2 Constructioncost of building, licensing, planning, constructionmanagement (CM) andmarketing 30% 70%
- 20. Investment Cost Estimation& Financing Schedule 1 2 3 4 5 6 7 8 9 1 Purchase of land sqm 172.000 654 112,49 112,49 2 Building construction (GFA) 2.1 Apartment sqm 301.000 687 206,70 41,34 45,47 47,54 49,61 22,74 2.2 Office sqm 180.600 654 118,11 23,62 25,98 27,17 28,35 12,99 2.3 Commercial Area sqm 120.400 670 80,71 16,14 17,76 18,56 19,37 8,88 2.4 Parking (Basement/Podium) sqm 141.004 458 64,55 12,91 14,20 14,85 15,49 7,10 2.5 MEP sqm 150.500 458 68,90 13,78 15,16 15,85 16,54 7,58 2.6 Public & Social Facilities sqm 30.100 196 5,91 1,18 1,30 1,36 1,42 0,65 TOTAL (2) 923.604 544,88 108,98 119,87 125,32 130,77 59,94 3 Licensing, Planning, Construction Management (CM) 3.1 Licensing lumpsum 1 13,62 13,62 5,45 8,17 3.2 Planning lumpsum 1 13,62 13,62 2,72 10,90 3.3 Construction Management (CM) lumpsum 1 16,35 16,35 3,27 3,60 3,76 3,92 1,80 TOTAL (3) 43,59 8,17 19,07 3,27 3,60 3,76 3,92 1,80 4 Marketing lumpsum 1 37,69 37,69 0,00 4,01 4,25 5,11 6,25 6,17 5,09 4,20 2,60 TOTAL OF INVESTMENT COST 738,64 120,66 23,08 116,50 128,58 135,33 140,87 66,83 4,20 2,60 Land Aquisition & Design/ Planning Description Quantity Unit Price (USD) Total Cost (Million USD) UnitNo. Construction Marketing/ Shelling Year
- 21. Operating Cost Estimation& Schedule Uses 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Operating Cost (millionUSD) 13,09 13,74 14,43 15,15 15,91 16,71 17,54 18,42 19,34 20,31 21,32 22,39 23,51 24,68 25,92 27,21 28,57 Instalment Bank & bank interest (millionUSD) 16,81 5,65 0,53 0,20 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 Routine & periodic maintenance (millionUSD) 13,62 27,24 13,62 13,62 13,62 13,62 27,24 13,62 13,62 13,62 13,62 27,24 13,62 13,62 13,62 13,62 27,24 TOTAL OPERATING COST 43,52 46,64 28,58 28,97 29,53 30,33 44,78 32,04 32,96 33,93 34,94 49,63 37,13 38,30 39,54 40,83 55,82 Year Description COST ESTIMATION (MillionUSD) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Operating Cost (millionUSD) 30% 0,00 0,00 0,00 0,00 3,83 5,55 7,03 8,33 9,30 9,77 10,26 10,77 11,31 11,87 12,47 Instalment Bank & bank interest (millionUSD) 0,00 7,35 10,02 24,73 40,31 55,99 71,58 76,67 73,19 69,47 65,40 57,38 52,03 40,28 28,40 Routine & periodic maintenance (millionUSD) 0,00 0,00 2,72 5,72 8,85 12,12 27,24 13,62 13,62 13,62 13,62 27,24 13,62 13,62 13,62 TOTAL OPERATING COST 100% 0,00 7,35 12,74 30,45 52,99 73,66 105,85 98,62 96,11 92,86 89,27 95,39 76,96 65,78 54,48 Year PLand Aquisition & Design/ Planning Description Construction
- 22. Revenue Estimation 1 23 4 5 6 7 8 9 10 11 12 13 14 15 1 Sale Progress 10% 11% 13% 16% 19% 14% 11% 6% 2 Leaseble Area (m2) 2.1 Apartment 255.850 25.585 28.144 33.772 40.527 48.632 36.474 27.355 15.361 2.2 Office 153.510 15.351 16.886 20.263 24.316 29.179 21.884 16.413 9.217 2.3 Commercial Area 90.300 9.030 9.933 11.920 14.304 17.164 12.873 9.655 5.422 3 Cumulative Leaseble Area (m2) 3.1 Apartment 128.027 176.659 213.133 240.489 255.850 255.850 255.850 255.850 255.850 255.850 255.850 3.2 Office 76.816 105.996 127.880 144.293 153.510 153.510 153.510 153.510 153.510 153.510 153.510 3.3 Commercial Area 45.186 62.350 75.224 84.878 90.300 90.300 90.300 90.300 90.300 90.300 90.300 4 The selling price per sqm (USD) 4.1 Apartment 10% 1.385 1.385 1.524 1.676 1.843 2.028 2.231 2.454 4.2 Office 10% 2.692 2.692 2.961 3.257 3.583 3.941 4.335 4.769 4.3 Commercial Area 10% 2.308 2.308 2.539 2.793 3.072 3.379 3.717 4.089 5 Service Charge (SC) USD/sqm/month 5.1 Apartment 5% 3,435 3,607 3,787 3,976 4,175 4,384 4,603 4,833 5,075 5,329 5,595 5.2 Office 5% 5,496 5,771 6,059 6,362 6,680 7,014 7,365 7,733 8,120 8,526 8,952 5.3 Commercial Area 5% 4,466 4,689 4,923 5,169 5,428 5,699 5,984 6,283 6,598 6,927 7,274 6 Building Sales Revenue (Million USD) 4.1 Apartment 35,44 38,98 51,45 67,92 89,65 73,96 61,02 37,69 4.2 Office 41,32 45,46 60,00 79,20 104,55 86,25 71,16 43,96 4.3 Commercial Area 20,84 22,93 30,26 39,95 52,73 43,50 35,89 22,17 Total Building Sales Revenue (Million USD) 97,60 107,36 141,72 187,07 246,93 203,72 168,07 103,81 7 SC Revenue (Million USD) 5.1 Apartment 5,28 7,65 9,69 11,48 12,82 13,46 14,13 14,84 15,58 16,36 17,18 5.2 Office 5,07 7,34 9,30 11,02 12,31 12,92 13,57 14,25 14,96 15,71 16,49 5.3 Commercial Area 2,42 3,51 4,44 5,27 5,88 6,18 6,48 6,81 7,15 7,51 7,88 TOTAL Revenue SC 12,76 18,49 23,43 27,76 31,01 32,56 34,18 35,89 37,69 39,57 41,55 TOTAL Revenue (Building Sales + SC) 97,60 107,36 141,72 199,83 265,42 227,14 195,82 134,82 32,56 34,18 35,89 37,69 39,57 41,55 No. Description Land Aquisition & Design/ Planning Year Construction
- 23. Financial Feasibility Revenue Estimation 1617 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 1 Sale Progress 2 Leaseble Area (m2) 2.1 Apartment 255.850 2.2 Office 153.510 2.3 Commercial Area 90.300 3 Cumulative Leaseble Area (m2) 3.1 Apartment 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 255.850 3.2 Office 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 153.510 3.3 Commercial Area 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 90.300 4 The selling price per sqm (USD) 4.1 Apartment 10% 4.2 Office 10% 4.3 Commercial Area 10% 5 Service Charge (SC) USD/sqm/month 5.1 Apartment 5% 5,875 6,169 6,477 6,801 7,141 7,498 7,873 8,267 8,680 9,114 9,570 10,048 10,551 11,078 11,632 12,214 12,824 5.2 Office 5% 9,400 9,870 10,364 10,882 11,426 11,997 12,597 13,227 13,888 14,583 15,312 16,077 16,881 17,725 18,611 19,542 20,519 5.3 Commercial Area 5% 7,638 8,019 8,420 8,841 9,283 9,748 10,235 10,747 11,284 11,848 12,441 13,063 13,716 14,402 15,122 15,878 16,672 6 Building Sales Revenue (Million USD) 4.1 Apartment 4.2 Office 4.3 Commercial Area Total Building Sales Revenue (Million USD) 7 SC Revenue (Million USD) 5.1 Apartment 18,04 18,94 19,89 20,88 21,92 23,02 24,17 25,38 26,65 27,98 29,38 30,85 32,39 34,01 35,71 37,50 39,37 5.2 Office 17,32 18,18 19,09 20,05 21,05 22,10 23,21 24,37 25,58 26,86 28,21 29,62 31,10 32,65 34,28 36,00 37,80 5.3 Commercial Area 8,28 8,69 9,12 9,58 10,06 10,56 11,09 11,65 12,23 12,84 13,48 14,15 14,86 15,61 16,39 17,21 18,07 TOTAL Revenue SC 43,63 45,81 48,10 50,51 53,03 55,68 58,47 61,39 64,46 67,68 71,07 74,62 78,35 82,27 86,38 90,70 95,24 TOTAL Revenue (Building Sales + SC) 43,63 45,81 48,10 50,51 53,03 55,68 58,47 61,39 64,46 67,68 71,07 74,62 78,35 82,27 86,38 90,70 95,24 No. Year Description NPV (Million USD) 160 IRR 66,10% B/C Ratio 1,79
- 24. Conclusions & Recommendation 1.From the results of the study can be summarized as follows: Land location is very strategic area, good accessibility because it is located on Jl. Daan Mogot (main access) and Jl. Kembangan Baru (secondary access) Land Status : Clear & Clean, the legality of land Complete The added value of the land is the mixed use (residential and commercial). Floor area ratio (FAR) value are quite large and Building Coverage Ratio are quite adequate. Land location is supported by mass public transportation that allows visitors to and leaving the project site Bojong Indah station which is the node displacement of mass transport modes is relatively close to land, it is still possible to accomplish just by walking. The land could be developed as a TOD area and supported by mass transit, it is possible to optimize or increase the existing of the Floor Area Ratio (FAR) from 3,5 to 6 Financial feasibility is feasible 2. Suggestions to buyer is as follows: Purchase of land for mixed use (apartments, offices and commercial area) with supporting facilities eligible for consideration Future demand for apartment and commercial area (office space, hotel, retail, shopping mall etc.) is still quite high