Collier- Editan.docx

Colliers

DAFTAR ISI

IN' E-PNA11:_.:N=11

01. SITE ANALYSIS (Pages 03 - 21)

  

General Description Micro and Macro Accessibility Technical Framework

  

National West Java Province Bandung City and Sumedang District

   

Apartemen Bandung, Cimahi, dan Jatinangor Apartemen Strata-title Bentuk Pesaing Lain Analisis Potensi Pasar

 

Analysis of Jatinangor Hotel 's competitors and comparison Jatinangor Hotel of Market Potential.

    

Analysis of Retail Market in Bandung Analysis of Leasing Retail Market Analysis of Strata-Title Retail Market Analysis of Retail Competitors Analysis of Retail Market Potentials



Commercial Analysis of Apartment Supports

  

Technical Framework Development Concept of Alternative 1 and 2 Concept Simulation.

)

02. ECONOMIC MACRO (Pages 22 - 44) 03. APARTMENT ANALYSIS (Pages 45 - 92)

04. HOTEL ANALYSIS (Pages 93 - 121) )

05. RETAIL ANALYSIS

(Pages 122 - 164)

06. COMMERCIAL ANALYSIS (Pages 165 - 180) 07. CONCEPT RECOMMENDATION (Pages 181 - 210)

01. ANALISIS

Property General Description

Colliers I N T E R N A T IO N A L

Administratively,

The Site Map of Macro Properties

the

property

is

located

in

Hegamanah village, Jatinangor Sub-district. Jatinagor Sub-district is part of Sumadeng District, West Java province. It is situated 26 kilometers from Bandung. It is also one of the areas that connect Bandung and its surrounding areas with Pantura ( South Coast) line that connects cities along the south coast of Java. Timor-Lefie Clvisemas 1.1and

The boundaries of Jatinagor sub-district are: 

On the north Suksari and Tanjungsari Sub-districts.



On the east Tanjungsari and Cimanggung Sub-districts.

"..P. !.7

BANDUNG.

Source: Google and Colliers International Indonesia - Advisory



On the south



Rancaekek Sub-district Bandung District



On the West Cileunyi Sub-district Bandung District.

Topographically Jatinangor Sub -district is a hilly area , 725 - 800 m above the sea level.

Property General Description

Colliers INTERNATIONAL

The property is part of educational area of

The Site Map of Micro Properties

Jatinagor. Unover;ata.. Podpdiaran ITB

Unhreritss Padjadja ran

The boundaries of the property are: 

On the north Jatinagor Street.



On the east BHS

swimming

pool

and

a

residential area 

On the south Rice fields



On the West A residential area

4rOlwaris

Source: Google and Colliers International Indonesia - Advisory

5

Property General Description The total area for Skyland developmennt is ±4.5 Ha (fully owned land). However, there is still some potential for land addition. The detail of the total area as follows:

Description Fully owned land

Width of the land ±45,000 m2

Not yet owned, included in the purchasing program

±16,000 m2

Not yet owned, there is a possibility to be purchased

±6,000 m2

The total of potential area

±67,000 m2

*The width of the landis based on google maps area calculator The total area of the property, if it is fully acquired, is ± 67,000 m2. The property has an irregular shape, some part is very narrow. fully owned by PT. Adhika/Mr. Ronny Not yet owned, included in the purchasing program Not yet owned, there is a possibility to be purchased

Source: Google and Colliers International Indonesia - Advisory

Property General Description

Colliers INT

N,A.L.

Property General Description

Colliers NT E RNAT I

or,

L

111111=■1■1

January 2016

Entrance Access

Southern View

Eastern View

A residence east of the property

Source: Colliers International Indonesia - Advisory

Northen View

A condotel inside the property

Western View

main Access

Colliers

The Development around the Property

In the western area, the development is

dominated

by

residential

development, while on the northern part, it is dominated by educational facilities,

especially

public

universities or universities run by the government.

At

the

meantime,

commercial

development in Jatinangor is still limited.

Residences Shopping Centers Apartments Hotels Education and Health Facilities Source: Colliers International Indonesia - Advisory

The list of the Development around the Property Names of the development

Types

Distance (km)

Route

Colliers 

Residence Perum Brimob Jabar

Residence

1.8 south

2

Ikopin Jatinangor

Residence

2.0 southwest

JI. Raya Jatinangor — A Sayang JI. Raya Jatinangor —JI. Sayang

3 4

Janati Park

Residence

1.9 west

JI. Raya Jatinangor

Bumi Rancaekek

Residence

3.3 southwest

5

Rancaekek Permai

Residence

3.6 southwest

6

Bumi Rancaekek Kencana

Residence

4.5 southwest

JI. Raya Jatinangor — JI. Raya Cipancing JI. Raya Jatinangor — JI. Raya Cipancing JI. Raya Jatinangor— JI. Raya

7

Bukit Mekar Indah

1

Cipancing Residence

3.8 west 4.7 west 5.5 west

JI. Raya Jatinangor —JI. Raya Cileunyi — JI. Cimekar

8

Bumi Panyawangan

Residence Residence

9 10

Permata Biru

Residence

5.5 west

JI. Raya Jatinangor — JI. Raya Cileunyi

D'Orange

Residence

6.5 west

JI. Raya Jatinangor —J1 Raya Cileunyi

11

Mekar Biru

Residence

7.0 west

JI. Raya Jatinangor —JI. Raya Cileunyi

12

Bumi Harapan

Residence

7.3 west

Residence Residence

1.8 south 2.0 southwest

JI. Raya Jatinangor — JI. Raya Cileunyi — JI. Soekarno Hatta

13

Bumi Panyileukan

Residence Shoppi Shopping Center ng Jatinangor Town Center Shopping Center Source: Center Colliers International Indonesia — Advisory

JI. Raya Jatinangor —JI. Raya Cileunyi

1.9 west

JI. Raya Jatinangor —JI. Raya Cileunyi — Soekarno Hatta JI.

0.9 west

JI. Raya Jatinangor

444011011

List of Developments around the Property No

Development Name

Notes

Colliers

INTERNATIONAL

Distance km)

Route

Hotel 1 2

:.4, Bandung Girl Gahana Golf and Resort Hotel Khatulistiwa

3 star

2,5 northwest

JI. Raya Jatinangor

Melati

1,9 west

JI. Raya Jatinangor

Apartments 2

Pinewood Apartment Easton Park Apartment

Apartement Apartement

0,9 west 1,5 west

3

Apartemen Taman Melati

Apartement

0,7 north

Fasilities Institut Pemerintahan as 1 Dalam Negeri (IPDN) Institut Koperasi Indonesia 2 (IKOPIN) Institut Teknologi Bandung 3

JI. Raya Jatinangor Jl. Raya Jatinangor JI. Raya Jatinangor — JI. Cikuda Nanggerang

University

1.7 west

JI. Raya Jatinangor

University

1.4 west

JI. Raya Jatinangor

University

1,1 northwest

JI. Raya Jatinangor

Universitas Padjajaran (UNPAD)

University

0.5 north

JI. Raya Jatinangor

Terminal Cileuny

Bus Terminal

2.9 west

Golf Course

1.7 northwest

5 6 Giri Gahana Golf ............. iBandung (ITB)

Source: Colliers International Indonesia — Advisory

JI. Raya Jatinangor — JI. Raya Bandung Cirebon JI. Raya Jatinangor

Some Important Developments around the Property

Colliers INTERNATIONAL

Perumahan Janati Park

D'Orange

Jatinangor Town Square

Bandung Giri Gahana

Hotel Khatulistiwa

Apartemen Taman Melati

Pinewood Apartemen

Easton Park

Sourcer: Google.corri and Colliers International Indonesia —Advisory 12

Macro Accessibility

Colliers INTERNATIONAL

Ke Arah (Purwakarta, Cikampek, Jakarta)

am grail Cimenyan

Ke Arah (Sumedang Cirebon)

JelanTol Pasteur

Universitas Padjadiaran

Trans Studio Bandung Ctleunyt a Sys JLSoskarno41atta

C hampelas Margnti■

Ji ptt JuanTol Padaleunyl

Rancaekek

Ke Arah (Nagreg Taslkmalaya Garut)

C:calengk a Katapang

Cc)

Boiongsoang

P ameungpeuk

Baleendah

Sol ok an Jeruk

Soreang

Source: Google and Colliers International Indonesia —Advisory

13

Macro Accessibility

Colliers NTERN AT; 0 N L

The property is located on Jalan Raya Jatinagor, the access from the surrounding areas can be described as follows:  Bandung City There are 2 alternative routes form Bandung city to the property (via toll roads and non toll roads) a. Via Padaleunyi toll road (distance: 26 km) with 45 - 60 minute drive. b. Via Jalan Sukarno Hatta (distance 22 km) with 60 - 80 minute drive 

Sumedang The property can be accessed via Jalan Bandung - Palimanan (distance: 31 km) with 80 - 100 minute drive



Tasikmalaya The property can be accessed via Jalan Nasional III (distance: 92 km) with 160 - 200 minute drive.



Garut The property can be accessed via Jalan Raya Bandung-Garut Bypass, then through jalan Nasional III (distance: 55 km) with 110 -140 minute drive.



Cirebon The property can be accessed via Cipali toll road to Jalan Raya Cirebon - Bandung (distance: 120 km) with 180 - 240 minute drive. In the future, when Bandung - Cirebon toll roads are operated, the traveling time will be shorter.



Husein Sastranegara Airport The property can be accessed via Padaleunyi Toll Road (distance: 36 km) with 50 - 70 minute drive.

. 14

Colliers

Micro Accessibility

INTERN 4TIONAL

The map and the picture show the accesibility to the property through Jalan Raya Jatinangor.

.The street connects the property to some universities, such as Institut Pemerintahan Dalam Negeri (IPDN), Institut zKoperasi Indonesia (IKOPIN), Institut Teknologi Bandung (ITB) and the nearest is Univerista PAdjajaran (Unpad).

Jalan Raya Jatinangor is also one of the streets that connect Bandung and the surrounding areas to Pantura which connect them to cities in Java. For that reason, The use of the street will be highly increased duringholiday seasons (such as: Eid al- Fitr, Christmas and New Year).

Sumber: Colliers International Indonesia —Advisory

15

Visibility

Colliers INTERNATIONAL

The above picture shows The property visibility from Jalan Raya Jatinangor, 25 m in width.

Source: Colliers International Indonesia — Advisory

A1011111.1116

Technical Framework

Colliers

Skyland had processed the license to develop the 4.5 Ha site with license number 503.IP/013-BPMPP/2011, but in 2012 a new rule about the provincial plan of layout and strategic areas of Jatinangor (Perda Kab, Sumedang number 12 year 2012) was out. It limits the height of a building into 12 floors. The it has been revised into Perbup Sumedang number 92 year 2015 that is used as the basis of the plan.

The consultant estimated the technical framework based on 2 alternatives presented below: 1. The area owned by PT. Adhiloka 2. The total plan area (including the one that has not been purchased by PT. Adhiloka)

Technical Framework

Colliers INTERNATIONAL

Alternative 1 - The area owned by PT. Adhiloka Based on the rules of

Zone

Width (m2)

KDB (%)

Building first floor

KLB*

( n i l

--------------------------------------------------------------------------•-------------------------------------------------------------------------------------------4

License number 503.1P/013BPMPP/2011 Perda Kab. Sumedang Nomor 12 Tahun 2 0 1 2 , Perbup Sumedang Nomor 92 Tahun 2015

45.000

mixed 45.000

mixed

27.000 60% -------------- r------------------

-

Building height limits (floor)

.. 270.000 180.000 ----------------

23 12

22.500 6

50% 27.000

45.000

Building width (m2)

_ ----------4

mixed 60% *Based on the condition of the existing buildings, it can be assumed that the height limit of a building is 23 floors

Depending on theland condition*

Alternative 2 - The total plan area (including the one that has not been purchased by PT. Adhiloka)

Based on the rules of

Zone

width(m2)

KDB (%)

Building first floor (m2)

KLEr

40.200 License number 503.1P/013BPMPP/2011 Perda Kab. Sumedang Nomor 12 Tahun 2 0 1 2 Perbup Sumedang Nomor 92 Tahun 2015

60%

402.000

67.000 50%

268.000

67.000 Campuran

60%

12

6 40.200

)

23

33.500

Campuran

4

Based on the condition of the existing buildings, it can be assumed that the height limit of a building is 23 floors source: Colliers International Indonesia — Advisory

Buidingnheight limits (floor)

-

67.000 Campuran

Building width (m2)

Depending on the land condition*

Technical Framework

Colliers ERN,,1:011AL

KKOP (Kawasan Keselamatan Operasional Penerbangan/ Flight Operation safety Zone)

..„----

.-------

-----

irfO4s. ------,,,

.el'01:

ie

—

..,

/

/

14, \

\ \

MOJA --.'--'-'---'..

Zone KKOP

source: Colliers International Indonesia — Advisory

Because the property is located 21.7 km from Husein Sastranegara Airport, it is situated within the approach and take-off path. Therefore, the building height limit is more than 150 meters maximum. However, since the government has set the height limit, the KKOP regulation becomes irrelevant. .

-r;Inner

horizontal surface Conic surface Outer horizontal surface Approach and takeoff surface

Radius (m)

Max height limit (m)

< 4.000

45

4.000 — 6.000

45 — 150

6.000 — 15.000

150

>15.000

>150

Colliers

SWOT

INTE,N4TIC•NAL

Strengths 



 

The property is located in Jatinangor that has developed into an important educational area with public universities or higher level education institutes with national scale and students from all over Indonesia. The property is located 500 meter from University of Padjajaran, one of the famous public universities in Indonesia. Jatinangor is an important point on the route that connect big cities in Java. The property has a good accessibility, in micro scale in Jatinangor and in macro scale with the surrounding cities.

sourcer: Colliers International Indonesia — Advisory

Weaknesses   



The property has an irregular shape that limits the development plan as commercial buildings. The shape of the land is not symmetrical, therefore, it might need land acquisition to make it more efficient. The building height is limited to 12 floors based on Perda Kab. Sumedang Number 12 Year 2012, but it is being revised. The property has narrow entrance visibility, thus it reduces the visibility from Jalan Raya Jatinangor.

Colliers

SWOT

iN TE"Yric, ION' L

Opportunities 

 

Threads

Jatinangor Sub-District is aimed to be Strategic Area of • The development plan of other property projects in Jatinangor Provincial Education of Jatinangor and it will invite a lot of will become potential competitors for the development of students from around Indonesia. This situation will create a commercial buildings in the property site. demand in various accommodation and commercial facilities in Jatinangor. The plan of making Jatinangor becomes part of Bandung Metropolitan area makes infrastructure development in Jatinangor aggressive. The plan of property development as integrated commercial buildings will give more value to the property than to other development in Jatinangor

Source: Colliers International Indonesia — Advisory

Colliers

Indikator Ekonomi

'NTE

'1

2010

2011

2012

2013

2014

2015

GDRP (IDR trillion) Applied price

6.864,1

7.831,7

8.615,7

9.524,7

10.542,6

11.540,8

 Constant price 2000

6.864,1

7.287,6

7.727,0

8.158,2

8.568,1

8.976,9

28,7

32,6

35,1

38.2

41,8

45,2

6,17

6.03

5,58

5,02

4,79

3,79

4,3

8,38

8,36

3,35

0,421

8.776

9.369

12.087

12.438

13.194

13.5152

6,0

5,75

6,48

7,75

Economic Indicators

GDRP per capita based on applied price (million) GDRP per capita based on applied price (million) based on constant on applied price (million) Economic growth (%YOY) price based on constant

2016

price

Inflation (%) Exchange rate

6,96

Interest - Bank Indonesia (%)

6,5

9.084

7,5

7,002

Balance of Trade (million US$)  Eksport

157.732,60

203.616,7

190.043,60

182.570,00

176.292 70

150.252,50

10.500.23

 Import

135.606,10

177.299,3

191.670,60

186.630,00

178.178,80

142.739,60

10.449,63

- Surplus (Deficit)

22.126,50

26.317,4

-1.626,00

-4.060,00

-1.886,10

7.512,9

New Investment (has been achieved)  Foreign (US$ Million) 16.213,80

19.474,5

24.563,70

28.617,00

28.529,7

29.275,9

92.182,00

128.150,00

156.120,2

179.465,90



76.000,8 60.626,30 Domestic (IDR Billion) Note: 1 2 January - February 2016 February 2016 Source: Statistik Indonesia 2013, Bank Indonesia 2014, BKPM2014

3

January 2016

GDP

Colliers 1'4



GDP of applied price increased from Rp

7

6,864.1 trillion in 2010 to Rp 10,542.6 trillion

12,000

6

in2014.

 • • 1111 • IN MI

10, 000 CC CC 8,000 0 6,000 4,000

5 4 3 2

1

N E N E

2,000 0 CNI

Harga Berlaku

C■1

CNI

Harga konstant

0

CN1

Cs1

CNI

Pertumbuhan Ekonomi

Credit Ratio to GDP

Pertumbuhan Ekonomi (%)

14,000 f,



in 2011 and 2012, Indonesia's economic

growth was 6%. The growth slowed down in 2013 and 2014, with 5.78% and 5.02%.



In 2015, GDP of Indonesia based on the

constant price reached Rp. 11,540.8 trillion. The economic growth even reached the lowest level in the last four years, i.e. 4.79%.



On

the

other

hand,

the

economic

performance of Indonesia was stronger shown 100% 90%

with the low credit ratio to GDP. In 2012 credit

80%

ratio reached 23%, the lowest point since 2000.

70%

The economic slowdown made the credit ratio

60% 50%

increased a little to 27% in 2015.

40% 30% 20% 10% 0%

Source: Ministry of Treachery of Republic of Indonesia

25

Demographic Analysis

Colliers •J E

rd

1•11•1!Ill

Indonesia is the fourth most populous country in the world, with the total population of 255.4 million in 55-8°4'59

2015, consisted of 128.3 million males and 127.9 million females. The population is increased 1.46% every year, from 237.6 million in 2010. A large number of population followed by the high growth of GDP per capita shows that people purchasing power is high.

Indonesian population is dominated by young productive people, with 88.85% of population is under 55 years old. Dependency number in 2010 was 51.3, that means in 100 young productive people productive ones.

15,000,000 10,000,000 5,000,000

0

Permpuan Source: Central Buerau of Statistics (Biro Pusat Statistik)

5,000,000 10,000,000 15,000,000 •Laki-li

there are 51 non

Economic Performance

Colliers NTE,r

:CIA

GROSS DOMESTIC REGIONAL PRODUCT OF WEST JAVA [

2012

1

2010

2011

GDRP (Rp. Billion) Applied price

906.716

1.021.629

Constant price 2000

906.716

965.622

Applied price

20.970.000

23.300.000

25.300.000

27.770.000

30.140.000

-

Constant Price 2000

20.970.000

22.022.675

23.061.875

24.120.000

24.960.000

-

-

6,50%

6,50%

6,34%

5,09%

5,03%

Economic Indicator

2013

1.128.216 1.028.410

_

2014

2015

1.258.914

1.387.276

1.525.150

1.093.586

1.148.949

1.207.000

GDRP per capita (Rp)

Economic growth Source: BPS Provinsi Jawa Barat



From 2012, West Java economic growth had slowed down and reached the lowest point in 2015, with 5.03%.



GDRP per capita of West java increased from Rp. 20.97 million in2010 to Rp. 30.14 million in 2014.

AL

e

Economic Performance

•

{Alters

Sector Contribution to West Java GDRP 2015 Jasa Perusahaan 0.42% Jasa Keuangan 2.49%

Real Estate 1.17%_

Administrasi Pemerintahan, Pertahanan _Jasa Pendidikan Jaminan 2.74% dan Sosial Wajib 2.10%

Informasi dan Komunikasi 3.53% Penyediaan Akomodasi dan Makan Minum 2.51% Transportasi dan Pergudangan 4.78%

Jasa Lainnya 0.20%

/ Perdangangan Eesar dan Eceran 16.06% Konstruksi 8.28%

Peng Pengadaan Air 0.08% Source: BPS Provinsi Jawa Barat

dan Gas 0.49%

Jasa Kesehatan dan kegiatan Sosial 0.75%

 Processing Industry is the main support of West Java Economy (44.24%), due to the operation of industrial area, especially in Karawang – Bekasi area.

Pertanian, Kehutanan dan Perikanan 7.85%

 Wholesaling & Retailing and Construction also

Pertambangan dan Penggalian 2.32%

give a big contribution to West Java GDRP, i.e. 16.06% and 8.28%.

Economic Performance

Colliers 

Inflation

11■ 111=111MOOP

The highest inflation in West

Java happened in 2005 and 2008,

20%

18.51% and 10.61%. It happened

18%

because of the increase of fuel price.

16%



14% 12%

could be stabilized in one digit level.

A

10% 8% 6%

Inflation in 2015 was 2/72%.



■

4% 2%

0 0 N —

0

( 9 0 ° )

Cs1

Source : BPS Provinsi Jawa Barat

0 C

(N CN

N

CN1

N

Jan - Feb 16

(N

0

From January to February

2016 the inflation was 0.42%.

0% 0 8

From 2009, the inflation

Demographic Review

Colliers NTE,=NA-HulJAL

Kabupaten/Kotamadya No (Districts)

2 3 4

5 6 7

8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

Area width (km2)

.....................Bogor Suk abum i C i a n j u r

2.997,13 4.160,75 3.594,65

male ... 2.452.562 1.193.342 1.123.091

B a n d u n g G a r u t Tasikmalaya

1.756,65 3.094,4 2.702,85

... 1.620.274 1.217.768 834.996

C i a m i s K u n i n g a n C i r e b o n Majalengka Sumedang lndramayu S u b a n g Purwakarta Karawang .............. B e k a s i Bandung Barat Kota Bogor Kota Suk abum i Kota Bandung Kota Cirebon Kota Bekasi Kota Depok Kota Cimahi Kota Tasikmalaya Kota Banjar

758.889 2.740,76 1.189,6 520.632 1.059.463 1.071,05 1.343,93 582.892 547,797 1.560,49 2.092,1 856.640 739.925 2.164,48 989,89 436.082 1.096.892 1.914,16 1.269,51 ...... 1.347.223 770.702 1.335,60 111,73 484.791 4n 152.080 , 48,96 167,31 ..... 1.246.122, 148.600 40,16 1.183.620 213,58 199,44 880.816 274.124 41,20 321.460 184,38 87.031 130,86

37.173,97 21.907.040 West Java Source : Jawa Barat dalam Angka, SP 2010

n

Population female 2.319.370 1.148.067 1.048.190 1.558.269 1.186.353 840.679

3.178.543 .. 2.404.121 1.675.675

1.809,43

1.532.504 773.615 1.035.589 514.957 1.007.733 .. 2.067.196 583.581 ....... 1.166.473 1.093.602 545.805 1.663.737 807.097 725.232 1.465.157 852.521 416.439 2.127.791 1,030.899 2.630.401 1.283.178 ..... 1.510.284 739.582 950.334 465.543 298.681 146.601 .. 2.453.517 1.207.935 296.389 147.789 2.334.871 1.151.251........ 1.738.570 857.754 541.177 267.053 635.464 314.004 175.157 88.126

559,15 870,54 1.930,06 867,96 718

n

21.146.692

43.053.732



Dencity (Jiwa/Km2)

Total .. 4.771.932 .. 2.341.409 2.171.281

Census, the population of West

1.592,17 562,744 604,03

Java is 43,053,732 people with the density of 1,158.17 people per km2.

776,92

619,97



with population density 781 people/km2. It is one of the areas with population density under

676,91 861,23 1.111,61 1.130,79 8.505,63 6.100,51 14.314 7.380,20 10.932,07, 8.717,26 13.135,36 3.446,49 1.338,51 1.158,17

Sumedang District, where

the property is located, is an area

795,25

2.071,98

Based on 2010 Population

1,000 in West Java.

.

Economic Performance

Colliers NTEr-!N NI

NnL

GROSS DOMESTIC REGIONAL PRODUCT (GDRP) OF BANDUNG , P D R B

Ekonomi Indikator ( R p

2010

2011

2012

2013

2 0 1 4

M i l i a r )

Harga Berlaku

102.154,91

115.203,94

131.989,53

151.772,41

172.629,38

Harga Konstan 2010

102.154,91

110.234,43

119.632,25

128.988,56

138.911,06

PDRB per Capita (Rp) Harga Berlaku

42.350.000

47.430.000

53.990.000

Harga Konstan

42.350.000

45.384.029

48.935.284

52.463.183

56.222.850

-

7,91%

8,53%

7,82%

7,69%

2012

2013

2014

20.260,54

... ........................... 22.344,05

Pertumbuhan Ekonomi (YoY)

............................................................!........................................................... 6 1 . 7 3 0 .0 0 0 69.870.000

Source : Bandung dalam Angka 2015

GROSS DOMESTIC REGIONAL PRODUCT (GDRP) OF SUMEDANG DISTRICT _

Economic Indicator

GDRP (Rp. Billion) Applied price Constant price 2010 GDRP per capita (Rp) Applied price Constant Price Economic growth (YoY)

2010

2011

14.686,78

16.392,58

. ............................. 18.140,27

14.686,78

15.390,93

16.400,80

1 3 . 3 3 2 .4 9 6 13.332.496

1 4 .7 66 .990 13.864.667

-

4,79%

16.266.827 14.670.839 6,56%

17.194,50

18.003,09

1 8 .0 07 .369 15.282.308

19.747.900 15.900.000

4,84%

4,70%

Source : Kabupaten Sumedang dalam Angka 2015

 In general, Bandung has higher GDRP and GDRP per capita than Sumedang. In 2015 Bandung’s GDRP per capita was Rp. 69.8 million. It was 3.5 times higher than Sumedang’s (Rp. 19.7 milllion).  Sumedang District also has lower economic growth than Bandung

3

Economic Performance

Colliers

Sector Contribution to 2014 GDRP of Bandung and Sumedang BANDUNG Administrasi Pemerintahan, Pertahanan 3.0% Jasa Perusahaan 0.8%

Jasa Kesehatan dan Kegiatan Sosial 1.0% a Pendidikan 3.2%. Jasa Lainny

I

Pertambangan an Penggalian Air 0.0% 'Indusin d a n 'Pengolah an 21.5%

Jasa Keuangan 5.8% Informasi dan Komunikasi 9.1%

Perdangangan Besar dan Eceran 27.8:4

Keuangan, Persewaan dan Jasa Perusahaan 2.99%

Jasa Perusahaan 0.0 1'.

Listrik, Gas

Administrasi Pemerintahan, Pertahanan 6.8 121.

Jasa Kesehatan dan Kegiatan Sosial 1.02%

Jasa Pendidikan

Pengadaan Real Estate 1.59%

\5.56%

Jasa lainnya 1.61% Pertambangan dan Penggalian 0.11%

Jasa Keuangan 0.1% engadaan 4.07% r

0.2%

Informasi dan Komunikasi 2.77% Penyedia Akomodasi dan Makan Minum 4.38% Keuangan, Persewaan dan Jasa Perusahaan 2.99%

Sourcer : Bandung dalam Angka, 2015



Pertanian, Kehutanan dan Perikan an 0.1%

1_3.4%

Real Estate 1.2%

Penyedia Akomodasi dan Makan Minum 4.6%

KABUPATEN SUMEDANG

Perdangangan Besar dan Ecaran 17.08%

-

Industn Pe ngolahan

Konstruksi • 18 88% ' 9' 30%

Pengadaan Air 0.03%

—Pengadaan Listrik, Gas 0.30%

Sumber : Kabupaten Sumedang dalam Angka, 2015

Wholesaling and Retailing (27.8%) gave the biggest contribution to Bandung. While for Sumedang, the biggest contribution was

from farming sector (21.7%).  Processing Industry gave the second highest contribution Bandung and Sumedang, with 21.5% and 18.8%.  34

Economic Performance

Colliers T E

CrJ

Inflation in Bandung 12%

10% 8% 6% 4%

0% 0 0

00 0 0

rn 0 0 C

0 CS C■ 1

1

0

CN

C

0 C

Cr) iS

U) 0

CN

0 C

Jan - Feb 16

2%

Source : Bandung dalam Angka, 2015



From 2007, inflation stayed in one digit except in2008, 10,23%



2005 inflation was 3.93% , much lower than 2014 (7,76%).



In January — February 2016 the inlfasion was 0,38%, lower thanEast Java's 0,42%. 

35

Demographic Review

Colliers tNT

BANDUNG No 1

2 3 4 5 6 7 8 9 10 11 12

13 14

15 16 17 18 19

20 21 22 23 24 25 26 27 28 29 30

KECAMATAN (districts)

Bandung Kulon Babakan Ciparay Bojongloa Kaler Bojonglua Kidul Astana anyar Regal Lengkong Bandung Kidul Buah Batu Rancasari Gedebage Cibiru Panyileukan Ujung Berung Cinambo Arcamanik Antapani Mandalajati Kiaracondong Batununggal Sumur Bandung Andir Cicendo Bandung Wetan Cibeunying Kidul Cibeunying Kaler Coblong Sukajadi Sukasari Cicadap TOTAL

Width (Km2)

Male

- Population

Density (people/km2))

female 69.739

Total 140.780

70.657

145.411

19.518

43.809

57.773 40.877

119.025 84.686

38.282 13.528

2,89 4,30 5,90 6,06 7,93 7,33 9,58 6,32 5,10 6,40 3,68 5,87 3,79 6,67 6,12 5 , 0 3

34.180 40.333 34.939 29.251 47.288 38.165 18.321 36.295 20.122 38.641 12.777 34.795 37.020 31.986 65.623 61.058

33.862 40.201 35.432 28.031 46.730 36.849 18.336 34.896 19.665 37.380 12.165 33.724 36.588 30.863 64.837 58.483

68.042 80.534 70.371 58.282 94.018 76.014 36.657 71.191 39.787 76.021 24.942 68.519 73.608 62.849 130.460 119.541

23.544 18.729 11.927 9.617 11.856 10.370 3.826 10.264 ... 7.801

3,40

18.246

17.914

36.160

3,71 6,86

49.059 49.686

47.376 48.923

96.435 98.609

15.521

30.767 106.571 70.111

10.635 ... 25.993 ... 14.374 . 9.076 20.299 15.580

130.023 107.133 80.971 57.999 2.453.517

17.690 24.915 12.914 9.492 14.314

6 , 426) (Km

71.041

7,45 3,03 6,26

74.754 61.252

3,39

.

15.246

5,25 4,50

54.031 35.970

52.540 34.141

7,35 4,30 6,27 6,11 167.31

68.324 53.828 40.478 29.604

61.699 53.305 40.493 28.395

1.246.122

1.207.935

Source: Bandung Dalam Angka, 2011

.

21.793 ...

11 878 .

.. 6.778 11.673 19.422 9.423

21.317 ... 23.766

100,000.00 50,001. 0.00 50,000.00 100,000.00  Perempuan • Laki-Laki  Based on the 2010 population census,

the population of Bandung is reached 2.453.517 people with the density 14.314 people/km2. 

The total number of productive

population is 71%.



36

Demographic Review

Colliers

KABUPATEN SUMEDANG width

Population

KECAMATAN female male (Km') Total j (districts) 12 Jah 1 nangor 53.788 53.907 107.695 26.2 40.100 8 0 .3 72 40.272 Liman ggyn2 ........I 40,76 37.656 7 6 .2 75 38.619 3 Tanjungsari 35,62 4 15.310 3 1 .1 05 15.795 Sukasari 47,12 5 Pamulihan 5 4 .3 06 27.458 26.848 57,85 6 R a n c a k a l o n g 52,28 18.733 18.759 3 7 .4 92 37.410 36.471 7 3 .8 8 1 7 Sumedang Selatan 117.41 44.475 43.686 8 8 .1 6 1 8 Sumedang Utara 28,25 9 11.880 11.518 23.398 G a n e a s 21,36 10 3 5 .9 1 0 S i t u r a j a 53,98 17.803 18.107 11 1 3 . 0 1 8 1 3 . 1 6 7 2 6 .1 85 C i s i t u 53,31 12 D a r m a r a j a 18.314 18.714 3 7 .0 28 54,95 13 C i b u g e l ...48,8 .. 10.427 10.360 2 0 .7 87 76,42 14 21.799 21.160 42.959 W a d ° 4 1 .1 98 20.490 20.708 61,49 15 J a t i n u n g g a l 16 23.701 11.491 12.210 J a t i g e d e ....I . . , .... li 12.005 2 3 .5 62 17 11.557 97 T o m o 66,26 18 pi unVpy.a ...... 2 9 .0 33 14.353 14.680 80,56 106 16 19 28.855 14.201 14.654 PPrinean9 ............ ... .. .j ... 17.962 3 5 .8 4 8 20 17.286 33,52 P a s e h 2 8 . 0 0 9 5 6 .4 65 21 28.456 41,62 Cimalaka 22 9.514 9.514 1 9 .0 28 C i s a r u a 18,92 16.696 3 3 .4 36 23 T a n j u n g k e r t a 40,14 16.740 24 Tanjungmedar 65,14 24.152 11.934 12.218 25 .............. Buandua ...... 3 1 .9 21 16.273 15.648 131 37 I._ S u r i a r 50,74 10.849 5.452 26 5.397 TOTAL 1.093.602 1.560.49 547.197 545.805 No

S: Kabupaten Sumedang Dalam Angka, 2011

Density

( j i w a l k m 2 ) 7 ®

4.110 1 1.972 MINI111■111 2.141 660 939 717 629 3.121 1.095 665 491 674 426 562 670 2 1 2 50,000.00 30,000.00 10,000.00 10,000.00 30,000.0050,000.00 356  Perempuan •Lak-iLaki 360 272  Based on the population census, the total number of 1.069 Sumedang ‘s Sumedang ‘s population is 1,093,602 people 2 1.357 with the density 718 people/km . 1.006 833  Jatinangor sub-district, where the property is 371 has the highest density 4,110 people/km2. 243 214  Productive aged population is dominated 718 in Sumedang district,

66%.

7

Infrastructure

Colliers NTEPN 4TIONAL

Husein Sastranegara International Airport This international airport is located on Jalan Pajajaran, Bandung. It is 5 km north of northwest of city centre. PT Angkasa Pura II is renovating the airport. The development and expansion of Husein Sastranegara Airport cover: 

The expansion of passenger terminal from 5,000 m2 to 17,000 m2. By having the expansion, the terminal capacity becomes 3.4 million people per year.



The expansion of Commercial areas to 3,000 m2.

The ground-breaking was on September 29, 2014 and it was estimated to finish in March 2016.

Source: Google

Infrastructure

Colliers

Kertajati International Airport Kertajati International Airport is built in Majalengka district, West Java with 1.800 hectare in width. It is as an alternative for people who live in West Java and Central Java. The construction of Kertajati International Airport is divided into 3 stages: 1. Infrastructure 2. The construction of passenger terminals 3. Operational supporting buildings. As planned, this airport will have two runways sized 3,500x60 meter and 3,000x60 meter. By having two runways, it is expected that the passenger capacity will be 20 million people per year. This airport is expected to operate at the end of 2017.

Sumber: Google

..4100111

Infrastructure

Jakarta – Bandung Express Train Jakarta – Bandung Express Train will connect Jakarta to Bandung with 142.3 km in length. It will be the first express train in Indonesia that operates 18 hours a day. The ground breaking was on January 21, 2016.However, it has not postponed due to permit issues. This express train is estimated to operate in 2019 with a route that is through 4 stations, i.e. Halim station, Karawang station, Walini station and Tegal luar station.

---■ •■ ■ •--

---00"11111111131"

Stasiun tialim,

Mii==m1 Kereta Cepat Jakarta - B andung

 Paninng.: 142.3 km  Operas! Total Investasi : 2019 : USS5.5 billion

Stasiun ■Karaywang 44\......inisitimoolirmilimi46

Stasiun Walini BANDUNGSri

II  Contractor : PT. Fast Trains Indonesia China (KCIC)

Source::Goode

Sjasipit TmalLnal INSPOS/PADRYO

Infrastructure

Colliers

BANDUNG RAYA LRT It is 154.46 km in length and planned to have 8

The Plan of the Routes of Metropolitan Bandung Raya LRT

routes: 4+.1Y1" 1 Lei. Pgricr9- Gedebage -

1. Route 1: Leuwi Panjang – Gedebage –

)911^.510,10! MY 2 ktt.tr:I. PC1,109-C#Nkti -

Jatinangor

P9.4610T9.9:.Wohn,

2. Route 2: Leuwi panjang – Cimahi –

1,*.r.3-4.9.t*O.?,9119.MAc0,Y1 )9,4!400.0c91.1WYFtf121-

Padalarang – Walini

.*:•!APPPO-^9

100 5 c.§$,Yrilese - c?!:117.0..9g — TostOluar2Act9laya

3. Route 3: Leuwi Panjang – Soreang

loie! 6'ki9t120!..1.9..4?-Oskr49!9±,

4. Route 4: Babakan Siliwangi – Leuwi

-1014.17-D090-P6_340.0 4! 8: 49b9k9r1

Panjang

- MP-41r

5. Route 5: Cibeureum _ Gedebage – Tegalluar – Majalaya 6. Route 6: Martadinata – Banjaran 7. Route 7: Dago – Pasirluyu 8. Jalur 8: Babakan Siliwangi – Lembang – Maribaya The construction started in March 2016 and is estimated to operate in 2019. This LRT is planned to be integrated with Jakarta – Bandung Express Train

Source: galamedianews.com

Infrastructure

Colliers NT E fr N 4T ION AL

BANDUNG INTRA URBAN TOLL ROAD (BIUTR) PETA LOKASI PROJEK "BANDUNG INTRA URBAN TOLL ROAD"

Cams.Clans113.8km Oa% • ah:WW 14.4 Wm) OralhoW - U1ngerwe kr*:

Odes P.3.56 Or, Pao4stRA

SNOAPC412%

15rellin1 Cap", (52 /40.ATIVAMID

coal; wffi.8

 0016

\

N

i

t

80 .41,1088

,

0'

etescons Mamtno VA • =IN=

1111188118,

lienwidompon Bler 711.1r

I■enalwesffror LAWN

CMaka,

4.1. gums pr air riOnIrl; e- D 1.fir law Cowan

Sumber: www.bandung.co

The project of construction of toll road inside Bandung or Bandung UIntra Urban Toll Road (BIUTR) will start at Km 149 of Padalarang – Cileunyi Toll Road. This project will intersect Bandung and its length will be 27.3 km. BIUTR project is divided into some routes: 1. Route I a. Route I-1 Pasteur access –Pasupati – Gasibu Underpass (5.5 km) b. Route I-2 Soekarno Hatta access – Gede Bage (4 km) 2. Route II a. Route II-1 Gasibu Underpass access – Cicaheum – Ujungberung (8.8 km) b. Jalur II-2 Ujungberung access – Soekarno Hatta (2.7 km) c. Jalur II – 3 Ujungberung access – Cibiru – Cileunyi (6.3 km) The project is still under discussion between West Java Provincial administration and Bandung City administration regarding the areas owned by 14 ministries, 9 areas have been acquired. . 42

Infrastructure

Colliers N TE RN Al IC , r-/A l.

CISUMDAWU TOLL ROAD Cisumdawu toll road connects Cileunti – Sumedang – dawuan with 61.6 km in length. This toll road is part of Tran Java toll road. Cisumdawu toll road is built in six sections: 1. Cileunyi – Rancakalong (12.02 km), the land acquisition is estimated to befinished in 2018. 2. Rancakalong – Sumedang (17.05 km), still under development and will operate at the end of 2017. 3. Sumedang – Cimalaka (3.7 km) 4. Cimalaka – Legok (8.2 km) 5. Legok – Ujung Jaya (16.42 km) 6. Ujung Jaya – Dawuan (4.23 km)

CILEUNYI –SUMEDANG – DAWUAN TOLL ROAD kr& In sinviu i:etbtn 1(kflaisti

JaLin Tol Cieutrii Sumechrq-Dsomen 61,675 km

1140 'f smelling

JAWA BARAT )

Cu"'Oei

0C,lb earourl

d.,•r■ h-wrsrh.hos.7hal44,11d1r,

Sourcer: Gooqle

:161rvetri111,47Pr*.r

M I

Infrastructure

Colliers I NT E R N AT IO N AL

1■111•0!,^-,i

CIAKAR TERMINAL Ciakar Terminal is the only bus terminal in Sumedang district, located on Jalan Prabu gajah Agung/Jalan By Pass. It was built in 1990s and it serves routes to 4 big cities in West java and Jakarta, i.e. Bandung, Depok, Cirebon, and Jakarta.

Afir

6

isammor

WM'

AdACA

Sum ber: www.wewengkonsumedang.com

1 41 .!!

j7

Bandung Apartment market

Colliers IN T E R

MAP OF INDONESIA S .1.7#r "

ailiti MALAYSIA

PACIFIC OCEAN

S®

MAP OF BANDUNG CITY

S

R

...14 C',) •. , , ,,,.. • ""'

0

0

1

.

&+04.1...... ,S,

4......., ...,.-.A.vro4,,,i.p......

1=

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L.



,

GRE • TER SUNDA ISLANDS

'

Jew Sp

G7

W2-•H,

4,4 ,.

-

le .Plitratm

The apartment market is included:

Sourcer: Colliers International Indonesia - google.com dan Advisory

Jatinangor



Cimahi

w Ovir F

.E.2:1TIMOR



4 '

"--•4....Al



Bandung City

1

A

a=as 0

1



4

.

Am ax. Sea

Supply Growth

Colliers

THE ACCUMULATIVE SUPPLY OF STRATA-TITLE APARTMENTS z

3 5

.0



-- 300%

strated in 2003, with Majesty

30 250%

200%

1

20

11 1

15

"

10

Cr) 0 0

0

0

0 0

C■ I N C \ I C

150%

1 111111

100%

50%

— 0%

l•-.. CO (33 0 .- CN1 Cr) V 0 CO



During the period of 2003 - 2013, the supply grew significantly, 38.79% per year.



The growth has slowed down since 2013, 27.81% per year reaching 15,168 units (20 projects on 1Q 2016.



It is predicted that until 2019, the supply of strata-tile apartments will grow 9.56% per year, reaching 30,622

0 0 0 CD ---------------------------------------------------------------- 13......., EL, 11 11_, 0 0 0 0 0 0 0 0 0 0 CD r.- co (3) \ I CV CV CV CV CV CV CV CN CN1 CNI 0 (C7■) I C Cv S \ 5I 5C \ I CV .--

moi Pasokan Eksisting Pasokan Tahunan *the supply based on the year of operation (YOY) Source: Colliers International Indonesia – Advisory

-50%

Apartment (274 units). Pertumbuhan per Tahun

25

Jumlah Unit

Bandung apartment market was

units (38 projects)

Pertumbuhan

48

Apartment supply Based on the Number

Colliers omilmorri

of Projects and Units 1Q 2016 Based on the Number of Projects

Based on the Number of Units

1Q 2016 Most of the apartments are located in Northen Bandung. 2019 (P) Due to the rule of Bandung City government that prohibits a new development of apartments in Northern

2019(P) Berdasarkan Jumlah Proyek Jatinangor Cimahi 11% 3%

Bandung, the development of new

Berdasarkan Jumlah Unit

apartments is concentrated in Southern

ndung a B Pusat

and Central Bandung.

18%

The apartment growth in Jatinangor is Bandung Libra 39%

triggered by the potentially high

Bsa= 24%

Bandung Timur 5%

Sumber: Colliers International Indonesia - Advisory

investment in providing renting rooms to .

fulfill students’ demand.

Classification of Apartments based on selling price per meter2

Colliers 1111!MEIMEMMI

1C) 2016 Based on the number of Units

Based on the number of Projects > 20 juts! m2 24%

5.10 juta/

1Q 2016  Based on the number of projects, apartments with the price of 15 – 20

m2

21%

million/m2 have the biggest proportion, 34%. 

Based on the number of units, the apartments are dominated by the ones with selling price ≤ Rp. 10 million/m2 and Rp. 11 – 15 million/m2. Generally, this apartment class is built with

2019(P)

massive scale concept. Based on the number of Projects

Based on the number of Units

Projection 2019 (P)



Based on the number of units, the

apartments are dominated by the ones with the selling price ≤ 10 million/m2. It is shown that most ongoing projects are projects with massive scale.

 jukkan bahwa sebagian besar proyek 50 dalam tahap pembangunan

Apartment Distribution Based on the Selling Price per meter2 APARTMENT DISTRIBUTION, 1Q 2016 5,000 4,000 3,000 2,000 1,000 0 R‘'

G

<,4 c

e

,

Ct,

iN.et \rer '0%

4b

r e P

c

P

t k

N0T ) -

•■)

cA

NiE

\-\\ e

&cc\

hoc

ec\

5,000 __ 4,500 __ 4,000 3,500 __ 3,000 __ c 2,500 2,000 – 0 1,500 II 1,000 500 — — N. co e gr

\

e\-v

‘ (

e

 5 10 juta/ m2 11-15 juta/ m2 15-20 juta/ m2> 20 juta/ m2 Source: Colliers International Indonesia - Advisory

I C: r

APARTMENT DISTRIBUTION, 2019 (P)

6.000

41..

Colliers

e t•



co

.(4

6,.' cA
,6c

. e 'A

/\\ 413

\) •c•cb

e

acs e

0 xt& ' \ C)

dos

q

c‘ e

sz,

'R,'?

10 jutaY'in2 • 11-15 juta/ m2 • 15-20 juta/ m2> 20 juta/ m2

1Q 2016

 

Southern Bandung, Eastern Bandung and Jatinangor are dominated by apartments with selling price ≤ Rp. 10 million/m2. Central Bandung is dominated by apartments with selling price 15 – 20 million/m2, Northern Bandung is dominated by apartment with selling price 11 – 15 million/m2 and the only apartment in Cimahi has selling price 11 – 15 million/m2.

2019(P)



It is projected that apartments with selling price 11 – 15 million/m2 and >20 million/m2 will dominate Central Bandung. The prices of the apartments in Southern Bandung that will develop rapidly are ≤ 10 million/m2 and 11 – 15 million/m2.  Northern Bandung will develop equally in every market, except for apartments with price ≤ 10 million/m2.  Jatinangor starts marketing apartments with the price 15 – 20 million/m2.  Jatinangor mulai memasarkan apartemen dengan harga jual Rp15-20 juta/meter2

Colliers

Kinerja Pasar Apartemen

1111=1111111111■11

* THE SUPPLY AND SELLING RATE OF APARTMENT MARKET IN BANDUNG



Apartments in Northern Bandung have the highest rate of supply and selling, reaching

12,000

9,910 units with the selling rate 90%.

_ 100%

A

•

A 10,000

 A

The second highest sales is in Southern Bandung (6,710 units) and in central Bandung

80%

(4,487 units), with the selling rate 76% and 60% To 6,000

A-

0

40% 4,000

Tingkat Penjualan

8,000

89%. 

Eastern Bandung, Cimagi and Jatinangor are limited, each area has 2,258, 584 and 3,878 units of supply and selling rate 51%, 98%, and

20%

2,000

Meanwhile, the apartment supply and sales in

82%.

0

0% Bandung Bandung Bandung Bandung Cimahi Jatinangor Pusat Selatan Timur Utara



Until 1Q 2016 there is only one apartment operated in Cimahi since 2011.

 Pasokan • Penjualan • Tingkat Penjualan

The supply and Cumulative Selling Rate is based on the year of launching (YOL), included existing supply and future supply. *

Source: Colliers International Indonesia – Research and Advisory 52

Selling price – Strata-Title Apartments AVERAGE

PRICE

OF

APARTMENTS

IN

BANDUNG



AND

SURROUNDINGS, 1Q 2016

The highest average selling price

is given by the apartments in central Bandung, reaching Rp. 20.5 million/m2. As the central of the city and commercial area, the land price in this area is high and the land is also limited, thus the apartments in this area are higher class apartments.



The second highest selling price

is given by apartments in Northern Bandung, Rp. 18.45 million/m2. As tourism preference

area, for

this

area

becomes

accommodation

in

Bandung.



As strategic area of education and

integrated research, the selling prices for  Harga Jual/ m 2 A Tingkat Penjualan **PPN

4 apartments in Jatinangor reach Rp. 13.4 million/m2.

10% is not included in the price

Source: Colliers International Indonesia – Research and Advisory

 .

The Criteria of Competitor Apartments

Colliers IN' E

IkN Al IC:f.J..AL

Here are the criteria used in deciding the competitor apartments. 1. Location a. It is situated in Jatinangor Because of the limitation of competitors, the Consultant analyzed apartments in Bandung that have the following criteria: b. The apartment is located in Northern Bandung and 1 – 2 km from the famous education centre like ITB, UNPAD, and UNPAR. c. It is devoted to and/or cooperate with an educational institution as complementary facilities.

2. Marketing Scheme The apartment project with strata-title marketing scheme.

3. Operational Stages a. The apartment project that has been operated since 2010. b. The apartment project that is still under marketing stage and construction in 1Q 2016.

Based on the criteria above, there are four competitor apartments and six comparable apartments.

...4101110

Colliers

Location of the Competitors

INTERNATIONAL

IIIIIIIFMI=1III

Apartments

LEGEND: No.

note University

1 2 Gi4hara Coil ,ein rkk ,

3 Universitas Padjadjaran

4

Kilmpu:; 11 0 li oargor

Competitors

!moot'', 1,,,,rrc'rintah Neu IPDN

Universitas Padjajaran (UNPAD) Institut Teknologi Bandung (ITB) Jatinangor Institut Pemerintahan Dalam Negeri (IPDN) Institut Koperasi Indonesia (IKOPIN)

4E+1 PROPERTI

gasi"

Ihu:°menu,

1

Pinewood Residence

2

Easton Park Residence

3

Apartemen Taman Melati

4

Skyland Tower A

,

Lala5a

J. Source: Colliers International Indonesia - google.com and Advisory

Alle5116111

Colliers

Location of Comparable Apartments

I NTERNATI ONA L

-.,01.,■ ■ ■ •1.•■ •■ 14

LEGEND:

BANDUNG UTARA

No.

Notes Universities

1 64

2

. s ........... %

.

4

C

-

3 4

Institut Teknologi Bandung (ITB) Universitas Padjadjaran (UNPAD) Bandung Universitas Katolik Parahyangan (UNPAR) Universitas Telkom Comparable Apartments

BANDUNG SELATAN

.•-

1

Apartemen Jarrdin Cihampelas

2

Dago Suites Apartemen

3

Galen Ciumbuleuit 2

4

Gaferi Ciumbuleuit 3

6

Bandung Technoplex Living @ .................................... Telkom .............................................. Hegarmanah Residence

•••••IS  or.,

4 -

1 .• e:Nom U vI I y

............

Source: Colliers International Indonesia - google.com and Advisory

,0

GENERAL CHARACTERISTIC OF COMPETITORS

Colliers N T E RN AT I O NA L

GENERAL CHARACTERISTIC OF COMPETITORS

No

APARTMENT NAME

MARKETING OPERATING YEAR YEAR

ADDRESS

DEVELOPERS

NUMBER OF NUMBER OF TOWERS UNITS

SIZE

Eksisting

Pinewood Apartment

2010

2012

JI. Raya Jatinangor no.150

PT. Mahkota Intl Citra

2 Easton Park Residence Tahap Konstruksi

2012

2015

JI. Raya Jatinangor

Kalmarland

3 Taman Melati Jatinangor

2013

2016

JI. Cileles - Cikuda Hegarmanah

PT Adhi Persada Properti

4 Skyland Tower A

2013

2016

JI. Raya J

Skyland

1

1

980

39,28 — 41,25

1.400

20,00 — 54,00

758

21,30 — 42,90

740

29,18 — 58,36

GENERAL CHARACTERISTIC OF COMPARABLE APARTMENTS 0 APARTMENT NAME

MARKETING OPERATING YEAR YEAR

Eksisting ....... partment Jarrdin .. iham pelas

2009

2014

2

Dago Suites Apartment

2010

2014

3

aleri Ciumbuleuit 2

2013

2016

 .......

Tahap Konstruksi 4 Galeri Ciumbuleuit 3 Bandung Technoplex 6 Hegarmanah Residence

2013 2017 2014 ................... 2018 2018 2015

ADDRESS

JI. Cipaganti No.90

DEVELOPERS

PT. Kagum Karya Husada

JI. Sangkuriang, Istana Group Dago JI. Raya Ciumbuleuit PT Bandung Inti Graha No. 42 A JI. Raya Ciumbuleuit JI. Trs. Buah Batu JI. Hegarmanah No 6

Istana Group PT Multikarya Land Istana Group

Source; Colliers International Indonesia - Advisory All competitor apartments only consist of one tower, with 700 to 1,400 units per tower. The comparable apartments consist of 1 – 4 towers, with 190 to 900 units per tower.

NUMBER OF TOWERS

NUMBER OF UNITS

SIZE

4

2. 4 44

18,50 — 40,00

1

658

35 ,00 — 132,00

1

960

27,18 — 64,28

2 2

599 1.900 380

33,24 — 84,27 24,10 — 51.26 78,00 — 131,00

f

Pictures of Competitor Apartments

Colliers NTEkN 4T

COMPETITOR APARTMENTS

I I I,

VII k

1ihmt4N

1 II fitio 11:t a 1 • olgitoM i...frkes

111014st;:m:g 0 . 1. . fiZobolL“ - :: Noi1i14t"Ir: r*: r: liii

1.1

i•splvoifil-... .

RI illkii:N4iiiii.!. --. town .

I .11

.P

Pinewood Residence

Easton Park Residence

Source: Colliers International Indonesia — google.com and Advisory

m %_ Rill =NM

Apartemen Taman Melati

Skyland Tower A

I'C

Colliers

Pictures of Comparable Apartments

N T EP N AT I O N A L

COMPARABLE APARTMENTS

Apartemen Jarrdin Cihampelas

Dago Suites Apartemen

Galeri Ciumbuleuit 2

Galeri Ciumbuleuit 3

Bandung Technoplex Living @ Telkom

Hegarmanah Residence

Sumber: Colliers International Indonesia — google.com dan Advisory

Konfigurasi Unit Operational

No.

Apartment Name

C A 1

o m p p a Apartment r Pinewood

2

Easton Park Residence

3 Taman Melati Jatinangor 4 Skyland Tower A Comparable Apartments Apartment Jarrdin 5 Cihampelas 6 Dago Suites Apartment 7 Galeri Ciumbuleuit 2 8 Galeri Ciumbuleuit 3 9 Bandung Technoplex 10 Hegarmanah Residence

year

number of Towers

e t t2012 m 1 1 2015

Number of units

i e

STUDIO size

1-bedroom # Unit

size

(m2)

2-bedroom size # Unit (m2)

# Unit

(m2)

t o r t s 71 9 8 0n 23,49-27,44 1.400 20,00 - 36,3 1.2

2016 2016

1 1

758 740

21,30-24,7 29,18

2014

4

2,444

18,5

2014 2016 2017 2018 2018

1 1 1 2 2

658 960 599 1.900 380

68 54 1.493

-

-

3-bedroom Size (m2)

# Unit

270

-

-

132

39,28-41,25 54

22

-

-

-

-

42,9 38,64 - 50,54

69 160

58,36

24

527

33

248

40

39

35 — 52 41 — 67 221 62 - 77 322 528 35,42 — 36,57 168 40,68 — 64,28 27,18 — 32,05 48,10 — 84,27 33,24 — 35,92 456 ................................ _ .... ... 24,10 - 26,31 1.100 48,99 — 51,26 78

90 82 - 132 264 143 800 140 113 -131

4C 17 2 24

Source: Colliers International Indonesia and Advisory

Competitor Apartements  Generally they provide more than 700 units up to 1,400 units in 1 tower. 

The dominant type provided is studio (20 – 30 m2) and 2-bedroom (38 – 54 m2).

Comparable Apartments 

Basedon the number of units, they are divided into 3 groups, i.e. ≤ 500 units: 1 Project (Hegarmanah); 500 – 1,000 units: 3 projects; and >1,000 units: 2 projects (Jardin and Bandung Technolplex each has 4 towers and 2 towers).



The dominant types of units provided are studio (24 – 35 m2) and 2-bedroom (40 – 80 m2). Some of the apartments provide 1-bedroom type (35 – 67 m2).



Hegarmanah apartment, for middle and upper class, only provides 2-bedroom and 3-bedroom types.

61

Colliers

Configuration of Apartment Units Competitor Apartments

Comparable Apartments

Studio Type (82%) dominates competitor apartments in Jatinangor. It corresponds with the target of the market segment, i.e. university students.

Like competitor apartments, studio type dominates the comparable apartment, with 55%.

2-bedroom type is on the second position with 14%.

2-bedroom type gets 24% and 1-bedroom gets 15%.

Sum ber: Colliers International Indonesia —Advisory

INTERNATIONAL

111■11■1101

T O T A L

In total, The units of competitor apartments and comparable apartments are dominated by studio and 2-bedroom types. Since the market is students and investors, studio type has the largest market.

Colliers

Apartment Unit Classification

N TE AN .4T ION AL

CLASSIFICATION TABLE OF APARTMENT UNIT WIDTH Size (m2) Criteria

Class

S m a l l Medium Large

Studio

1-bedroom

<30 30 — 35 >35

30 — 35 35 — 45 45 — 60

2- bedroom 50 — 65 65 — 85 >85 ______

3-berdroom <85 85 — 120 > 1 2 0

>3-bedroom 150 - 250 250 - 350 >350 ______

CLASSIFICATION OF APARTMENT UNIT WIDTH No

Apartment Name

Studio

1-bedroom

2-bedroom

3-bedroom

Classification

Pinewood Apartment Easton Park Residence Taman MelatiJatinangor Skyland Tower A Classification Comparable Apartments 5 ApartemenJardinCihampelas 6 Dago Suites Apartment 7 GaleriCiumbuleuit 2 8 GaleriCiumbuleuit 3 9 Bandung Technoplex

small small small small small

medium medium

small small small small small

small small

small small small small

small large medium medium small

small large medium -

small medium small medium small

small medium -

small large medium medium small

10

Hegamrmanah Residence

-

-

medium

large

large

Classification

medium

medium

small

large

Competitor Apartments 1 2 3 4

Source: Colliers International Indonesia – Advisory

Colliers

Classification of Apartment Units

NTEP 4416 NPR

CLASSIFICATION PERCENTAGE OF APARTMENT UNIT SIZE Competitor Apartments

All competitor apartments provide small sized units

Source: Colliers International Indonesia – Advisory

Comparable Apartments

Based on the number of units, 63% of comparable apartments provide small sized units.

T OT A L

In general, competitor and comparable apartments provide small sized units.

Classification of Apartment Units

Colliers NT E N AT I C N A L

CLASSIFICATION PERCENTAGE OF APARTMENT UNIT SIZES BASED ON THE TYPES AND NUMBER OF UNITS

Studio

1-Bedroom

2-Bedroom

3-Bedroom

Sedang 5%

83% of competitor and comparable apartments provide small sized studio units.

The majority of competitor and comparable apartments provide small sized 1-bedroom units (46%). There are 28% large sized 1-bedroom units.

Source: Colliers International Indonesia – Advisory

Most of competitor and comparable apartments provide small sized 2bedroom units.

There are 50% of the total number of 3-bedroom units with large size. Source: Colliers International Indonesia – Advisory

Segmentation of Apartment Market

Colliers INTERNATIONAL

IMIL11/11=1■ 1111111111■ 011

Based on the market segmentation, strata-title apartments in Bandung are categorized into four classes based on the following criteria:  Location : 30%  Unit Size : 25%  Apartment Facilities : 20%  Developer's Reputation : 15% 2  Selling price per unit and per meter : 10%

SEGMENTATION BASED ON THE PRICE *Selling price/meter2 ≤ Rp. 10 million Rp. 11 - 15 million Rp. 16 - 20 million > 20 million

Market Segmentation Middle - Lower Middle Middle - Upper Upper class *not included PPN 10%

SEGMENTATION BASED ON THE UNIT SIZE CRITERIA CLASSIFICA TION

Small Medium Large

Studio < 30 30 - 35 >35

1-bedroom 30 - 35 35 - 45 45 - 60

Source: Colliers International Indonesia – Advisory

Size (meter2) 2-bedroom 3-bedroom 50 - 65 <85 65 - 85 85 - 120 >65 >120

>3-bedroom 150 - 250 250 - 350 >350

Colliers

Segmentation of Apartment Market

INTERNATIONAL

PERCENTAGE OF APARTMENT MARKET SEGMENTATION

Competitor Apartments

Comparable Apartments

T O T A L

Menengah Atas 25°/

Menengah 75%

Menengah Alas 40

Menengah Atas 50%

Competitor Apartments consist of middle class apartments (75%) and middle - upper class apartments (25%).

Source: Colliers International Indonesia – Advisory

A different trend is shown on comparable apartments. 50% of the apartments are devoted to middle upper class and 17% are devoted to upper class. Apartments for middle class only give 33% contribution.

In general, 50% of the projects are for middle class apartments, 40 % for middle - upper class apartments and 10% for upper class apartments.

The Performance of Competitor and Comparable Apartments Apartemen The Jarrdin 100%

Pinewood Apartment

Dago

90% _

1 Suites GalIleri Ciumbeleuit 3

70%

Sales Rate

60%

Bandung Technoplex

50%

Apartemen Taman Melati Jatinangor

40%

Skyland Tower A

30%

Hegarmanah Residence

20% 10% ________________ 0% — Rp0

Rp5

Rp10 Rp15 Rp20 Selling Price per meter2

Competitor Apartments ■ Comparable Apartments Pembanding Source: Colliers International Indonesia – Advisory

- r•o

-

Based on the price, the apartments can be classified into:

Gained Ciumbeleuit 2

Easton Park 80% _ Residence

Colliers

Rp25 Rp30 Millions

 Apartments with selling price Rp 20 million/m2 There are only 2 comparable apartments in this category. Dago Suites, with the price of Rp. 25.39 million/m2, reached 98% selling rate. Hegarmanah, witha little higher price Rp. 26.73 million/m2, reached 50% selling rate.

Fasilitas Apartemen Pesaing dan Pembanding

Colliers INTERNATIONAL

 ■■••111111PIN '

others

Nama Proyek

V

2

4

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

V

Integrated with the Shopping Center

V

V

V

V

V

V V

V

V

V

V

V

V

V

V

V

Entrance Access Card, Rooftop View Rooftop View, Parking Building, Library

V

V

V

V

V

V

Children Playground, Phone Connection

V

Health Centre

V

V

Home theatre, health clinic, karaoke rooms, jacuzziool and lagoon, indoor sport area, library.

V

Notes; 1. 2. 3.

Swimming pool fitness Centre and other sport facilities Internet

Function Rooms Shuttle Bus

Retail Stores Meeting Rooms

Colliers

Profile of Apartment Buyers

NTEPN4TIONAL

MOTIVATION IN BUYING COMPETITOR APARTMENTS

Competitor Apartments

Comparable Apartments

Overall

Competitor Apartments partemen PesaingApartemen PembandingOverall eseluruhan

Investment is the main motivation in buying competitor and comparable apartments. Around 70% of the buyers are investors. Investors buys the competitor apartments to rent them to students who study in universities in Jatinangor, i.e. ITB and UNPAD. Investors buy the comparable apartments to rent them to students who study in nearby universities and to tourists who visit Bandung (because the apartments are usually located in Northern Bandung).

Source: Colliers International Indonesia – Advisory

Colliers INTERNATIONAL

Profile of Apartment Buyers ORIGIN OF COMPETITOR APARTMENT BUYERS Competitor Apartments Lainny a

Comparable Apartments

Overall

Lainnya 15%

Most of the buyers of competitor and comparable apartments come from Jabodetabek (48%) and Bandung (37%).

, , d 1

Source: Colliers International Indonesia – Advisory

#110 71

Colliers

Profile of Apartment Buyers

INTEr,N,OluNAL

PAYMENT METHOD OF COMPETITOR APARTMENT BUYERS Competitor Apartments

Comparable Apartments

Overall

Cash Keras 17%

Cash Keras

4 1

.

1 8 %

Cash Keras 18%

Cicilan In-house 52% Cicilan

Inhouse 57%

Based on the diagrams above, it can be concluded some buyers used in -house installment or softcash as their method of payment. Based on the survey, some competitors have more than 10x DP installment plan.

Source: Colliers International Indonesia – Advisory

Colliers

Kesimpulan Harga Jual/ meter2

Konfigurasi

Lokasi Proyek I

Tipe Unit Studio

Jatinangor 1-Kamar Tidur (Competitor Appartment) 2-Kamar Tidur 3-Kamar Tidur

Ukuran Unit

Komposisi

20,00 - 36,3

82%

39

3%

38,64 - 54 58,39

Rentang Harga

1% 55%

1-Kamar Tidur

24 — 67

15%

Tidur

33 — 78

3-Kamar Tidur

40 - 131

Rata-rata

Tingkat Penjualan Rentang

Jumlah Fasilitas

Rata-rata

I

Rp 13% Rp. 8.38 – Rp

18,5 — 35,92

Studio

Bandung (Comparable Appartments )

INTERNATIONAL

13.400.956 66% -99%

82%

7

18.535.594 50% - 99%

84%

6

18.62 million

Rp. 11.42 – Rp. 26.73 million Rp 24% 6%

Source: Colliers International Indonesia – Advisory

In general, if compared to comparable apartments, the competitor apartments have the following criteria: 

providing relatively bigger units (for the same type of units)



Offering lower selling price per meter2



Reaching lower sales rate



Providing relatively the same number of facilities.

Colliers I NT E R NAT I O NA L

1 1 1 1MINIMPE•

Student Boarding UniversitasPadjajaran and ITB Jatinangor provide boarding houses for their students.

House Boarding Houses of Universitas Padjajaran and Institut Teknologi Bandung Boarding Number of Number of House room Towers/Building units s UNPAD 9 617 ITB

4

368

Capacity

number of occupied Units occupancy rate

1.156

1,058

92%1

920

524

57%

Fee (per year) Rp 5 – 7 million per person2 Rp. 20 – 23 million per person3 Rp. 3 – 5.4 million per person

1. First year condition 2. Fee for certain students 3. Fee for Bale Padjajaran tower devoted to medical students and public.

UNPAD boarding house has a capacity of 1,156 unit with occupancy rate 92% in the first year. It is because 4 of the buildings are devoted to certain students, like students on scholarship, medical and pharmacy freshmen. ITB boarding house has a capacity of 920 units with occupancy rate 57%. The occupancy rate is lower than Unpad boarding house’s because some of the rooms are still under renovation. Both of the universities provide internet connection, study rooms, public kitchen, laundry, playroom and photocopy room.

Source: Offical website of UNPAD, ITB and Colliers International Indonesia – Advisory

Colliers

Exclusive Boarding Houses around the Property Map of Exclusive Boarding Houses around the Property

INTERNATIONAL

oni■ p■ N■ Im.mr■ •

List of exclusive boarding houses No

Name

Numbe Occupanc r of Size (m2) Fee per month y rate Units 277 90% 12 - 30 Rp. 1.8 – 2.5 million 27 96% 12 Rp. 1,6 million

1 2

Awani Residence Kos – kosan 1

3 4

Alzaena 24 Panorama Residence 44

100% 80%

9 - 14 12 - 24

Rp. 1 – 1.5 million Rp. 1.5 – 2.5 million

5 6 7

GriyaMurti de Java Mansion Kos – kosan 2

88% 100% 70%

18 12 15 - 20

Rp. 1.2 million Rp. 1.4 million Rp. 1.7 – 2 million

40 31 50

There are around 7 exclusive boarding houses around the property, the closest one is Awani Residence. Generally there are around 25 – 50 units with occupancy rate of 90% and the minimum fee for each unit is Rp. 1 million/month. Most of the occupants are students of medical, social and politics and cultural science of UNPAD. The minimal length of rent is 1 year. Source: Colliers International Indonesia – Advisory

7.

Low Rise Apartments and Boarding House Complex

Colliers I N T E P N AT 1O N A L

Projects of Low Rise Apartments and Boarding House Complex No

Marketing Year

Operati onal Year

Adede Park &Apartment

2015

2016

Komplek Kost Wangsarajasa Beverly Park

2015 2015

2016 2017

Project Name Low Rise Apartment

1 1 2

Address

1.11. Cikuda Nanggerang

Developer Artha Debang Development Group

I. GKPN T Wangsarajasa I. Cikuda Nanggerang Pratiwi Land

land size (ha)

Numbe r of towers 2

3.89 0.6

Number of room units 70C

160 25

1,92C 276

In January 2016 there were one low rise apartment and two boarding house complexes. The apartment offers room units , with end- user and investors as the target market. The boarding house complexes offer towers with some room units and investors as the target market. Pictures of a Low Rise Apartment and Boarding House Complexes Adede Park & Apartment r,tr-11 111" 11V- ab v,

Source: Colliers International Indonesia – Advisory

Wangsarajasa

Beverly Park

Low Rise Apartments and Boarding House Complex

Colliers INTERNATIONAL

•••=11111111I111•••1111

Configuration No

Project Name Low Rise Apartment

Number of Number of towers room units

Building Height

Project Name

Number of towers

9

700

4

-

-

21

160 25

1.920 276

3 3

320 163 – 352

120 108 – 179

12 12

1

Number of room units

Boarding House Complex 1 2

Adede Park & Apartment project developed 9 towers with 700 rooms, 21 meter2 in width each. Wangsarajaproject provides 160 towers with 1,920 rooms in total. Beverly park only provides 25 towers with 276 rooms. The size of the rooms is 21 meter2. Performance of Low Rise Apartments and Boarding House Complex Project Name Low Rise Apartment 1 Adede Park & Apartement Boarding House Complex 1 Wangsarajasa 2 Bevery Park

Units on sale

Units sold

Sales rate

Marketing Month

units sold per month

160

50

31 %

12

4

160 25

124 18

78 % 72 %

12 5

10 4

Adede Park &Apartement could sell 4 units per month (50out of 160 units on sale) during the 12 month marketing (prelaunching). Wangsarajasa could sll 10 units per month, while Beverly Park sold 4 units per month.

Source: Colliers International Indonesia – Advisory

Economic indicator of Bandung and Jakarta

Colliers NTE'kN 6,TIONAL

IIIIMMIII•0111•111

GDRP OF BANDUNG AND JAKARTA PDRB

2010

2011

2012

2013

2014

27

30,8

33,3

36,5

41,8

6,1%

6,5%

6,3%

5,7%

5,0%

GDRP per capita based on applied price (IDR million)

125,53

138,86

155,17

174,82

Economic growth (%)

13,86

11,86

12,97

13,86

Kota Bandung GDRP per capita based on applied price (IDR million) Economic growth (%) DKI Jakarta 125,53

13,86

Source: Bandung City BPS, DKI Jakarta BPS, Bandung DalamAngka 2014, and DKI Jakarta DalamAngka 2015

 Based on the 2014 applied price, GDRP per capita of Bandung reached Rp. 41 million, GDRP per

capita of DKI Jakarta was three times bigger, i.e. Rp. 125.53 million.

.4401111811110°

Assumption of Market Potential Calculation

Colliers NTERN411C,NIAL

Assumption of apartment selling price 

Middle class starts from Rp. 363 million per unit (not included PPN)

Calculation

Price

Apartment Price

Rp. 363 million

Apartment price + PPN 10%

Rp. 399.4 million

Assumption of payment method 

KPA, with 70% of the price will be funded by Bank.



Interest 10%



10 year installment plan



Based on the calculation result, the estimated apartment installment starts from 3.69 million per month.

DP (30%)

Rp 119,82 million

Installment (70%)

Rp 279,58 million

KPA interest

10% per year

Assumption of market target 

The installment is 30% of income



The minimal monthly income is Rp. 12.32 million.



Regular expenses per month is 40% of income, i.e. Rp. 4.93 million/month

Installment per Rp 3,69 million/month month for 10 years

Assumption of Market Potential Calculation

Colliers I NT ERN 4TI ONAL

IMIIMIMENNO

SOCIO ECONOMIC STATUS (SES) IN BANDUNG AND DKI JAKARTA Classificatio n

Regular Domestic Expenses

Bandung

Jakarta

HH Expenditure -A1

Above 6 million/month

3.94

12.09

HH Expenditure -A2

5 - 6 million/month

4.86

5 - 6 million/month 4 - 5 million/month 2.5 - 4 million/month 1.75 - 2.5 million/month

4.86 10.9 40.08 1 25.69

6.67 12.91 6.67

1.25 - 1.75 million/month

11.82

5.79

0.9 - 0.25 million/month

1.67

0.9

Below 0.9 million/month

0.58

0.13

HH Expenditure -B HH Expenditure -C1 HH Expenditure -C2 HH Expenditure -D HH Expenditure -E

38.06 23.47

Source: Nielsen Consumber Media View Wave 2014

Based on the above classification, the number of families that has regular expenses more than Rp. 4.93million/month: - 8.8% family in Bandung and its surrounding areas. - 18.76% family in DKI Jakarta and its surrounding areas. This group is potential market target for the proposed apartments. d i i i i d e l

Assumption of Market Potential Calculation

Colliers INTEPNATIONAL

NUMBER OF FAMILIES IN BANDUNG AND DKI JAKARTA

Source: Kota Bandung DalamAngka (2014), DKI jakartaDalamAngka (2015) and Colliers International Indonesia -Advisory

Based on the data above: 

Since 2014, It is projected that there will be 1,701 - 1,914 family growth in Bandung and DKI Jakarta that can be a potential market target (for the developed apartment on the property site).

83

Colliers

Potential of Jatinangor Students Market

INTERNATIONAL

Bedasarkan hasil survey, target pasar apartemen di Jatinangor, untuk end-user, adalah mahasiswa, terutama yang bersekolah di Universitas Padjajaran (UNPAD) dan Institut Teknologi Bandung (ITB) Jatinangor. Estimasi Mahasiswa Baru Universitas Padjajaran dan Institut Teknologi Bandung Number of new students JNPAD1 ITB JATINANGOR Total

2011

2012

11.2041 40 11.244

2013

9.93 4 9.983

10.36 171 10.53

2014

2015

2016(P)

2017(P)

2018(P)

2019(P)

9.152

7.672

8.808

9.523

9.523

9.523

287

362

326

316

3201

321

9.439

8.034

9.134

9.839

9.843

9.8441

note: 1

The years of 2017 -2019 are the estimated number of maximum capacity of UNPAD freshmen based on the average number of freshmen from 2011 to 2016.

Based on the data above, there was a decrease in the number of UNPAD freshmen in 2015 due to the decrease of accepted student quota. However, the quota was increased in 2016, while ITB experienced an increase of freshmen in2014 and 2015. In overall, from 2016 to 2019 the estimation of freshmen is increasing around 9,1334 - 9,844 students.

Source: Website Resmi Universitas Padjajaran , ITB dan Colliers International Indonesia - Advisory

Colliers INTERNATIONAL

Calculation of Market Potential

rii■ immommmi.111

Next, the consultant did some calculation to find out the number of freshmen that are potential to apartment market. Assumption Calculation Table of Competitor Apartment sales rate Note Number of competitor Apartments (existing + under construction)

3,878

units

Number of sold apartments1 2016

3,266

units

Sales Rate of Sold Apartment

537

units/year

Number of Competitor Remaining Apartments

612

units

Assumption of Apartment Sales Rate in 2016 2

204

Units/year

Assumption of sales period of the remaining apartments

3

years

Calculating assumption applied as follows: 1.

Period of sales of all sold apartments starting from 2010 to 2016 or for 6.08 years.

2.

Until 2016, there were 4 apartment projects with 82% sales rate and with the average sales per month of 17 units/month, so in one year it was 201 unit/year.

Source: Colliers International Indonesia — Advisory

Calculation of Market Potential

Colliers I N1 ERN

Assumptions of Calculation that are used as follows: 1.

Based on SES calculation, family potential which is able to buy an apartment has expenses > Rp.4.9 million/month and assumption of apartment installment is Rp. 3.69 million.

2.

Based on SUSENAS 2014, percentage of individual expenses for education is 5% and for house installment 11%of total expenses.

3.

Potential of student marketis estimated from the number of expenses for education fee.

4.

Based on the calculation, undergraduate students of UNPAD who are potential for apartment market are the ones with educational fee Rp. 10 million/semester. The total family expenses of the student is Rp. 33 million/month and the expense for house installment is Rp. 3,67 million/month (close to the first assumption). Market potential of students who study for bachelor degree or a diploma come from departments of pharmacy, dentistry, medical, geology and midwifery.

5.

While, all undergraduate students of ITB has educational fee rp. 10 million/semester, so it can be assumed that all undergraduate students of ITB are potential for apartment market.

6.

It is assumed that graduate and post graduate students (S2, S3, Specialist, Profession) have educational fee> Rp 10 million/semester. Therefore, they are also included to the potential of apartment market

Sum ber: Colliers International Indonesia — Advisory

Calculation of Market Potential

Colliers rNTERNAlIONAL

Table of Potential of Apartment Market based on Student Number Description Number of UNPAD freshmen (2016) Market potential of UNPAD student (24%) Number of ITB students in Jatinangor (2016) Market potential of ITB students in Jatinangor (100%) Total Market Potential of students (2016) Assumption of apartment sales rate Assumption of the absorbed market potential 2016

8,808 2,072 316 316 2,388 204

students students students students students students 8.54%

Note: 1The percentage is derived from the data of freshmen capacity in 2016 mentioned in assumptions 4, 5 and 6

By having apartment sales rate in 17 units per month or 204 units per year, the apartment market of 2016 that can be absorbed was 8.54%.

Sumber: Colliers International Indonesia — Advisory

Sales Rate of Competitor Apartment Units

1 2

Colliers I NTE RNATIONA L

Pinewood reached sales rate of 98% in 2 year time (2012) Dago Suitesreached sales rate of 91% in 2 year time (2012)

Based on the analysis result, the sales rate of competitor apartment units can reach 10 -30 units per month in 1 - 4 year time. In average, competitor apartments can sell 17 units per month in 4 year time. In overall, competitor apartment can sell 22 - 26 units in 3 - 4 year time. Source: Colliers International Indonesia - Advisory

Source: Colliers International Indonesia - Advisory

. 4

4,1113 8

Colliers

Scoring Criteria of Competitor Apartments Score

Location

Developer

Design

5

Bandung Arterial Road

4

Main Road of crowded residential areas/universities Near commercial areas in Bandung Main Road of crowded residential areas/universities Near commercial areas in Jatinangor Secondary Road of crowded residential areas/universities Near commercial areas in Bandung Secondary Road of crowded residential areas/universities Near commercial areas in Jatinangor

Reputable national scaled Developer Reputable Developer in Bandung and its surrounding areas Developer with expereince of building a well known building New developer/ with a little experience in building apartments New developer

Very interesting interesting

3

2

1

Source: Colliers International Indonesia - Advisory

INTERNATIONAL

Number of Units/Tower <500

Class

Facilities

Functional Concept

Upper

≥9

500 -800

Middle Upper

7-9

Integrated with >= 4mixed-use functions Integrated with >= 3mixed-use functions

mediocre

800 - 1000

Middle

4-6

Integrated with >= 2mixed-use functions

Not too interesting

1000 - 1500

Middle Lower

1-3

Integrated with supporting retailers/stores

Not interesting

>1500

Lower

No facilities

No mixed - use function

Analysis of Apartment Scoring Apartment Name

Location

Developer

Design

Colliers

Number of Unit/tower

Class 15%

Weight

20%

15%

15%

20%

inewood Apartment

3

1

1

3

Easton Park Residence

3

2

2

2

Taman Melati Jatinangor

1

3

3

Skyland Tower A

3

1

Apartment Jarrdin Cihampelas

2

Dago Suites Apartment

Facilities 10%

Function Concept

Point

5%

100%

Price/m2

3

3

2,4

Rp8.383.038

3

3

2

2,45

Rp10.362.055

4

3

3

2

2,75

Rp16.234.197

4

4

4

5

3

3,4

Rp18.624.534

2

2

4

3

3

2

2,65

Rp13.309.021

2

3

4

4

4

3

2

3,25

Rp25.392.802

Galeri Ciumbuleuit 2

4

3

2

3

4

3

3

3,2

Rp15.859.448

Galeri Ciumbuleuit 3

4

3

4

4

4

3

3

3,7

Rp18.497.028

Bandung Technoplex

2

1

3

3

3

3

3

2,5

Rp11.420.247

Hegarmanah R e s i d e n c e

4

3

5

5

5

4

3

4,3

Rp26.735.016

Rencana Proyek

3

3

4

4

3

4

4

2,9

Rp15.128.838

Source: Colliers International Indonesia - Advisory

A l 1 9 0

Analysis of Apartment Scoring

Colliers

By plotting the price/m2 and scoring every project, R2 of 0.75 is achieved, it means the estimated factors influence the decision of selling price per square meter. With the score of 2.9, the proposed project can sell with the price of Rp. 15,128,838 per square meter .

Source: Colliers International Indonesia - Advisory

91

Recommendation Apartment SELLING PRICE - MIDDLE -UPPER CLASS APARTMENTS  Rp. 17,209,204/m2 (not included PPN) TOTAL UNIT  2 apartement towers @ 700 apartement towers

RECOMMENDATION OF TYPES AND CONFIGURATION OF APARTMENT UNITS Unit type

Size (SGA)

Selling Price/unit

Proportion

Number of units/tower

Total Unit

Studio

24

Rp413.021.755

70%

490

980

1-bedroom

35

Rp602.323.393

15%

105

210

2-bedroom

45

Rp774.415.791

15%

105

210

100%

700

1.400

The total of Apartment Development * PPN 10% is not included in the selling Price Source: Colliers International Indonesia - Advisory

.4 4 1 0 1 1 1 0 21 1 1

Colliers

Criteria of Competitor and Comparable Hotels Considering the location of the property, which is in Jatinangor, the consultant chose some criteria of competitor as 1NTE

follows:



Location The competitors are located in Jatinangor area



Classification Considering that the property will be developed into mixed use area, therefore, the hotels being analyzed are 3 - 5 starred hotels.



Operational Stage Operating hotels, and hotels under construction are also considered.



Operator Hotels operated by hotel operators (local or international) or operated by the owner himself (owneroperator).

Moreover, because of the limited number of hotels in Jatinangor, the consultant also did comparison analysis with the hotels outside competition area, but they have similar characteristics with the property, here are the criteria:



Since the property is located around educational area, the comparable hotels should be located on JalanJuanda and JalanDipatiUkur, near universities in Bandung.



The hotel should be a budget hotel, a 3 starred or 4 starred hotel.

List of Operated Competitor and Comparing Hotels

Source: Colliers International Indonesia – Advisory

In January 2016, there were only two 3 starred hotels as competitors, 119 rooms. Moreover, there were ten comparable hotel situated in Bandung, consisted of three budget hotels, four 3starred hotels, and three 4 starred hotels. The available rooms in budget and 3 starred hotels are usually less than 100 (except 101 Hotel with 140 rooms). The number of rooms in 4 starred hotels is 100 – 200 rooms

List of Comparable Hotels Operating Soon No

Hotel Name

Operating Year

Operator

Number of Rooms

Colliers NTE,,r4,,,:„NAL

Location

4 star 1. Fourpoints Hotel

2016

Sheraton by Starwood

162

Jl. Ir. h. Juanda no. 46

Source: Colliers International Indonesia – Advisory Based on the survey in January 2016, there is no other new hotel operating in Jatinagor. While, there is one under construction hotel in Bandung. This hotel, fourpoints Hotel by Sheraton, will operate in 2016 with 162 rooms.

97

Lokasi Hotel Pesaing dan Pembanding

Colliers INTERNATIONAL

1■NIMINIM

source: Colliers International Indonesia — Advisory

 The property is located in Jatinangor with the distance less than 18.3 km from Bandung.So far there are only two hotels situated in Jatinangor and they are 3 starred hotels.PuriKhatulistiwa hotel is a hotel with business concept and Bandung GiriGahana applies resort concept.  For hotels in Bandung, comparable hotels are the ones near universities in Bandung, i.e. ITB and UNPAD. These hotels are spread out across JalanJuanda and DipatiUkur. 98



Supply of Competitor and Comparable Hotels

Colliers E 4 ■ - .1%! ICr■

DESCRIPTION OF HOTEL PROJECTS PER JANUARY 2016

Bintang-4 2

1

1

7

%

1

1

Budget



Bintang-4 47% et

Budg 16% Illio

dominated the hotels in thearea of competitor and comparable hotels.

1

27%



Bintang3 Bi 55%

Bintang-3 37%

JUMLAH PROYEK

comparable hotel , the area will

increasing of number of rooms

Budget

17%

Bintang-3 50%

extra4 starred hotel in

hotels. However, the significant

JUMLAH KAMAR Budget

In 2019, Since there is only one

still be dominated by 3 starred

PROYEKSI HOTEL HINGGA TAHUN 2019

Bintang-4 tatiti 33%

In January 2016, 3 starred hotels

will cause the hotel rooms will be dominated by 4 starred hotels.

Bintang-4 3 54%

Bintang32%

Source: Colliers International Indonesia - Advisory

11 /9

9

Pictures of Competitor and Comparable Hotels

Colliers NTE

4

NA 1 lu NA L.

iw"I'Nf=1/■

COMPETITORS

Source: Colliers International Indonesia - Advisory

100

Pictures of Competitor and Comparing Hotels

COMPARABLE HOTELS

Source: Colliers International Indonesia — Advisory

Colliers '!'"O'11111M

Pictures of Competitor and Comparable Hotels

Colliers

INTE

\L

COMPARABLE HOTELS

source : Colliers International Indonesia — Advisory

„,e

Room Configuration of Competitor and Comparable Hotels

Source: Colliers International Indonesia — Advisory

Colliers !NTF PNAl lc:NAL

11■ 11111MImmol

 Budget Hotels: Tune hotel provides standard sized budget rooms, 17 m 2. Neo hotel and M Premiere provide bigger rooms with 22 m2in size. Usually there is no suites.  3 starred hotels: The standard room size is 24 - 25 m2. However, competitor hotels provide rooms with bigger size, 30 32 m2, so does The Palais. Suites are provided with 1.4 to 3.7 times bigger than the smallest rooms. Competitors provide rooms with various sizes.  4 starred hotels: provide standard room sized 26 - 33 m2. Types of rooms available are the most varied. Suites are 2 times bigger than the smallest rooms. While rooms with the highest class are three to five times bigger than the smallest rooms.



Colliers

Hotel Facilities

I NTE, Nr.TI ON,A L

Notes: 1 Swimming Pool 2 Gym Center 3 Sauna

4 5 6

Tennis Court Garden Jogging Track

7 8 9

Shops Cafe/Restaurant/Lounge Pub, Bar, Club, Karaoke

10 11 12

Salon/Spa Laundry Shuttle service

13 14 15

Drugstore Smoking Area Kids Club

16 Kids Playground 17 Bussiness Center 18 Banquet Facilities

Source : Colliers International Indonesia —Advisory

The above table shows that Hotel Jayakarta, as 4 starred hotel, provides most facilities if compared with other hotels. For Competitor hotelsin Jatinangor, Hotel Bandung Girigahana has more facilities than PuriKhatulistiwa.

Colliers

CONFIGURATION OF MEETING ROOMS

No

Number Number of Meeting rooms of Configuratio size #room Rooms (sqm) n

Hotel Name

Compatitors - 3 star 1 Puri Khatulistiwa 2

Bandung Giri Gahana Goff and Resort

INTERNATIONAL

Ballroom size #room (sqm)

4

4

96 - 336

3

800

1

2

3

75

3

-

-

Notes

Ballroom is only one room and cannot be divided No ballroom, 2 small meeting rooms, can be combined to be a bigger meeting room

Comparable Hotel Budget Hotel 1

Hotel Neo Dipatiukur

2

3

37

2

-

2

Tune Hotel

3

4

78 - 92

3

-

3 M Premier 3 Star :irttang

1

1

Patra Jasa Hotel

4

10

95 -155

4

2

The Palais

3

3

24 - 65

3

3 1

3 1

33 - 116 120

3 1

12

20

40 – 173

8

17

6

10

101 Hotel Scarlet Daso Hotel

Jayakarta Hotel

1 Jayakarta Hotel 2 Holiday Inn 3

The Luxton Hotel

7

2 meeting rooms that can be combined Ballroom is the combination of 3 meeting rooms

1

3 4 4 Star

2 meeting rooms that can be combined

-

-

Meeting room can be divided into smaller rooms

-

No ballroom. since it's a3 starred hotel, the meeting room is limited and not too big

-

-

No ballroom No ballroom

10

324 – 370

2

2 ballrooms, can be divided into 3 smaller rooms 4

10 - 56,3

6

234 - 555

2

56 - 171

5

12 270

1

2 ballrooms, can be divided into 3 - 4 smaller rooms, size 57 - 203,5 m2 Ballroom can be divided into 2 smaller meeting rooms

The 3 starred hotels usually only have less than 5 meeting rooms,. Only PuriKhatulistiwa, located near IPDN, has a ballroom, while the other 3 20 starred hotels do not. 105 40 - 173

Performance of Competitor and Comparable Hotel, January 2016

Colliers

INT E

IMENN=OMIIIe

Source : Colliers International Indonesia — Advisory

106

Performance of Competitor and Comparable Hotel, January 2016

Colliers

Based on ARR, competitor and comparable hotels can be classified as follows:  Hotels with ARR Rp 300,000 - Rp. 400,000 The three budget hotels, one competitor hotel and one 3 starred comparable hotel are in this category. Two budget hotels operated by operators (Neo and Tune) were able to reach the highest occupancy rate, 70 - 80%. Two 3 starred hotels, with ARR competing with the two budget hotels, only reached 45% - 50%.  Hotels with ARR Rp 400,000 - Rp. 550,000 One competitor hotel, one 3 starred and 4 starred comparablehotel are in this category. With very different ARR, these three hotels reached similar occupancy rate, 60% - 65%.  Hotels with ARR Rp550,000 - Rp. 600,000 All hotels in this category are comparable hotels; two 3 starred hotels and two 4 starred hotels. They have a slightly different ARR, but They reached various occupancy rate, from 50% ( TheLuxton) to 75% (Holiday Inn).

107

Occupancy Rate

Colliers N-F

f l im e n■ It si

 From 2013, the occupancy rate was likely to decrease. In 2015, the occupancy rate was around 60% - 70%.  Overall, competitor hotels reached lower occupancy rate than comparable hotels

Class

Occ Jan 16

2013- jan'16

3 starred competitors -

56,5%

62,5%

Budget

56,3%

59,0%

57,3%

64,1%

61.7%

_ 69,6%

I

3 starred comparable 5 star

 Even though the overall occupancy rate decreased, hotels operated international operator were able to reached the highest rate, 70% - 80%. Hotels not run by operator had the worst performance, the occupancy rate significantly decreased from 70% in 2013 to 55% in2015

Source: Colliers International Indonesia — Advisory

08

Colliers

Average Room Rate (ARR)

E



1

f1 Al_

in general, the ARR was also likely to decrease from 2013; except 3 starred comparable hotels that showed a different trend. Class

ARR Jan 2016 2013 - Jan '16

3 starred competitors

Rp 402.500

Rp 428.750

Budget

Rp 346.667

Rp 352.500

3 starred comparable

Rp 492.500

Rp 497.646

5 star

Rp 554.333

Rp 583.333

 From ARR side, since most of the local operators operated 3 starred hotels, ARR shown has higher price than the ones operated by international operators.  In 2015, hotels with international operators ran with budget class until ARR was corrected to Rp. 465,000. In January 2016, the average ARR was Rp. 481,000. Source : Colliers International Indonesia — Advisory

Performance of Meeting Rooms Meeting Package (per Hotel Name COMPETITORS 3 Star Puri Khatulistiwa Bandung Giri Gahana Golf and Resort COMPARABLE Budjet Hotel Neo Dipatiukur Tune Hotel M Premiere 3 Star Patra Jasa Hotel The Palais 101 Hotel 'Scarlet Da.° Hotel 4 Star Jayakarta Hotel Holiday Inn The Luxton Hotel

No of Room

Colliers INTERNATIONAL

erson) Full Board (exc room)

Wedding Package (per person)

number of events/wee k

Half Day

Full Day

4

Rp206,612

Rp247,934

Rp330,579

Rp 195.000 - Rp 400.000

3-4

2

Rp173,554

Rp206,612

Rp289,256

-

2-3

3 3 1

Rp138,843 Rp152.893 Rp173,554

Rp188,430 Rp190,083 Rp256,198

Rp271,074 Rp268,595 Rp330,579

-

1-2 1-2 1 -2

Rp161,818 Rp239,669 Rp190.083 Rp140.496 Rp206,612 Rp289,256 Rp136,364 Rp165,289

Rp380,165 Rp247,934 Rp330,579 Rp.256,198

Rp 140,000 – Rp 180,000

7–8 1-2 2-3 2-3

Rp578,512 Rp454,545 Rp371,901

Rp 160,000 –Rp 215,000 Rp 140.000 - Rp 185.000 Rp 145.000 - Rp 200.000

10 - 12 8 - 10 8 - 10

_

4 3 3 1 12 8 6

Rp37,901 Rp285,124 Rp206,612

Rp454,545 Rp309,917 Rp239,669

Source: Colliers International Indonesia - Advisory

MICE events are still dominated the use of meeting rooms in competitor and comparable hotels. Hotel that has connection to an institution such as Hotel PatraJasa tends to have a more intense use of the meeting rooms than other hotels with the same class. While, for 4 star hotels, Jayakarta Hotel has the most rooms and events compared to other hotels. 10

Guest Profile of Competitor and Comparable Hotels

Colliers

Source : Colliers International Indonesia —Advisory

82% of guusts staying in comparable and competitor hotels are domestic tourists.As a city with tourism spots and as MICE destination, normally the budget hotels are dominated by FIT, while 4 starred hotels are dominated by guests from MICE group.

Colliers

Summary Kelas 3 starred competitors BudgetBudget Budget 3 starred comparable 4 star

INTERN 4TIONAL

AOR Jan 2016 56.50% 56.30% 57.30% 61.70%

Av. AOR (2013 — Jan 2016) 62.50% 59.00% 64.10% 69.60%

ARR Jan 2016 Rp 402.500 Rp 346.667 Rp 492.500 Rp 554.333

Av. ARR (2013 — Jan 2016) Rp 428.750 Rp 352.500 Rp 497.646 Rp 583.333

Source : Colliers International Indonesia —Advisory

The occupancy rate average of competitor and comparable hotels in January 2016 was around 56% - 62%. For ARR, In January 2016, most of competitor and comparable hotels experienced a decrease compared to ARR average from 2013 - January 2016.

General Description of Hotel Market in Competitor and Comparable Area

Colliers 7

,

1 " E ■

 Hotel rooms in competitor and comparable areas grows 8.1 % per year since 2005.  Jatinangor only has2 competitor hotels with total number of the rooms is 119 rooms.  Until 2018, it is predicted that total number of rooms in competitor and comparable area is 1.284 rooms.  The average of occupancy rate decreased from 2015. In January 2016, since it was the first month, the occupancy rate and ARR tended to slightly decrease in2015.

114

Demand of Starred Hotels in Sumedang

Colliers lf'JTF

,

L

District PROJECTION OF HOTELS

GROWTH OF GUESTS

IN STARRED

 In 2010 - 2014 the number of guests staying in a starred hotel grew 6.4% per year. In the end of 2015, there were 48,165 guests, dominated by domestic guests (90%).  Until 2018, the number of guests

11 1 1 1 1 1111

staying in a hotel will grow 5.9% for foreign guests and 6.3% for domestic guests

Source: Colliers International Indonesia - Advisory

115

Characteristics of Starred Hotel Guests in West java

Colliers •r

o

INIMINEN2.0

AVERAGE OF LENGTH OF STAY IN STARRED HOTELS IN WEST JAVA

Source: West Java BPS

The average length of foreign guests tended to be longer than that of domestic guests. Foreign guests stayed for around 2 - 3 days, while domestic guests stayed for 1.6 day.

Projection of Room demand in Sumedang District

Colliers NTE,N411010 L

By referring to the result of market potential analysis listed below: 

The number of foreign and domestic guests staying in competitor hotels is projected to grow 4.32% and 2.51 per year.



The average of length of stay is around 2.8 days for foreigners and 1.6 day for domestic guests.



DOF in Sumedang District is around 1.8

The above graph shows that room utilization increase because of thelimited room supply. The utilization rate slightly decreased after 2013 until it reached 59%. It is expected to increase until 2018 to 65% because of the limited competitor hotels.

Colliers

The scoring of Hotel Average Room rate Score

Location

5

Located on the main street of business , commercial centers or recreation centers in Bandung Located on the main street of business , commercial centers or recreation centers around Bandung Located on the local of street, business , commercial centers or recreation centers in Bandung Located on the local of street, business , commercial centers or recreation centers around Bandung Far from business , commercial centers or recreation centers in Bandung

4

3

2

1

Number of Service rooms management

Design

Building Age Class

>150

excellent

Very good

<5

5

126 - 150

good

good

5 - 10

4

76 - 125

Mediocre

Mediocre

11 -15

3

50 - 75

bad

Not too good

<50

terrible

Bad

INTERNAlIC:WL

 1111111111IMMEIMMI

Operator International operator

National operator good performance

Independent - good performance

>15 with a lot of National operator - bad budget renovation performance

>15

2

Independent - bad performance

facilities

>12

10 - 12

7-9

4 -6

0-3

- 118

Assumption of Hotel Development in the Property

Colliers 1■11111111

Because of the limited supply and assumption that hotel market performance will be better, and by considering the characteristics of Propert's location, the consultant suggested the development of a 3 starred hotel on the Property's location byfollowing the next assumptions:  The hotel, seen from the size and facilities, will be classified into 3 starred hotel with the concept of business and commercial center.  The hotel will have 100 - 150 rooms  The hotel will provide complete facilities, consisting of health facilities (swimming pools and children pools, fitness center, spa and sauna), stores, cafe/restaurants, lounge, pub/bar, laundry service, business centre, meeting facilities.  The hotel will be operated by national scaled operators.  The hotel will have good service management and interesting design.

119

The Result of hotel Scoring Analysis

Source: Colliers International Indonesia

-

Colliers INTE RNA TIO NA L

Advisory

120

Hotel Position in the Property

Colliers N ,

E , : ; :

Berdasarkan analisis tersebut, dengan skor mencapai 3,4 apabila dioperasikan oleh nasional operator. Hotel yang akan dibangun akan menerapkan ARR Rp 454.972.

Source: Colliers International Indonesia — Advisory

The Supply of Bandung Retail Market

Colliers !

I 111111 II I I I III Source: Colliers International Indonesia - Advisory

 In 2016, the total supply in Bandung was 493,674 m2.  the highest growth in retail room in Bandung occurred in the period of 2000 - 2008, with 17.81% per year. Since 2018, the growth has slowed down, 3.21% per year. Until 2019,there is only one shopping center that will operate in Bandung, i.e. The Icon Lippo Malls, with 9,000 m2 rental space. Therefore, it is predicted that the supply will only grow 2.18% per year. 124

Map of Shopping Centre Zoning in Bandung /0 7- alr'l

1 1

BASEMAP BANDUNG (168,3 Ha)

BANDUNGRARAT

Bandung Pusat 10 proyek Sewa : 64.293 m2 Strata : 80.683 m2

lWTAC

Bandung Timur 1 proyek Sewa : 54.900 m2 Strata

Bandung Selatan 6 proyek Sawa 135.955 Strata 54.304 m2

•

25 .41-30.W1

Source: Colliers International Indonesia - Advisory

Lewd (Boundary)

pit CiPtyrovince Clank' =j1 Sunastrict I 13LuArea Aden is Railway Highway

Colliers N T E I-N4 T IL NAL

Characteristics of Bandung Retail Market

Colliers

* All the data is based on The scale of retail space, not on the number of projects

In January 2016  Based on the marketing Scheme , 72.66% of the retail space in Bandung was leasing retail space.  Based on market segments, retail space for middle class dominated the retail market in Bandung with 47.23% supply followed by retail space for upper class (21.55%) and then for middle - upper class (20.04%). While, retail space for middle -lower class has the small proportion of the total retail supply in Bandung(11.17%)  Based on the location, 38.54%retail space is located in Southern Bandung, 29.37% in Central Bandung, 20.97% in Northern Bandung and 11.12% in Eastern Bandung.

126

The Characteristics of Future Retail in Bandung

* All

Colliers

the data is based on The scale of retail space, not on the number of projects

In 2019  Based on the marketing Scheme , most of the retail centers in Bandung will be dominated by shopping

centre applied leasing scheme, 73%.  Based on market segments, in 2019 retail space for middle class will still dominate the retail market in Bandung (46.39%) followed by retail space for middle - upper class and upper class that have similar number of supply, i.e. 21.475 and 21.17%, while Retail for middle -lower class has the supply of 10.97%.  Based on the location, Northern and Central Bandung will still dominate the number of retail space, 37.85% and 30.63%, followed by Northern Bandung (20.6%) and Eastern Bandung (10.92%). 127



Colliers

Pasokan Ruang Ritel Sewa di Bandung 400,000

co

300,000

80.0%

1

250,000 200,000 150,000

ce 100,000 50,000

(50,000)

100.0%

a 0

a 0

0

~ 0

a

T s—- 0— 0a —

0

0

0

7

0

Pasokan Awal

8vi

0 0 cri

 Cyr _ Or

•1_111L

_______ C•J

Pasokan Tahunan

0 CV

_11_1 I El

N

CS 0 tie

L1

=V

rco 'cr.; 0.1 0.1

60.0% 40.0% 20.0%

Pertumbuhan

on



IVO 111111111 I I 111111111111 I 11111111111.III•11 I II

350,000

"E

1 ■ 1 1 ■ 1 1

lt 3,11%

3,98%

18,46%

N'E

 0.0% -

L.

20.0% C.4

Pertumbuhan

Sumber : Colliers International Indonesia — Advisory

 Pada Januari 2016, Bandung memiliki pasokan ruang ritel sewa 342.687 m2.  Pertumbuhan ruang ritel sewa di Bandung bertumbuh signifikan dari tahun 2000 — 2008, dengan 18,46% per tahun  Selama 2008 — 2016, pertumbuhan melambat karena tidak ada pusat belanja baru dan ada penghentian operasi beberapa pusat belanja (Premier Dago dan Planet Dago). Tingkat pertumbuhan tercatat 3,98% per tahun.  Pada tahun 2019, diproyeksikan hanya akan ada dua pusat belanja baru. Pasokan hanya akan bertumbuh 3,11% per tahun, menjadi 375.687 m2.

129

Distribusi Lokasi Pusat Belanja Sewa Berdasarkan Ruang Ritel

Colliers

Berdasarkan Jumlah Proyek

Selatan 26.67%

Timur 6.67%

•

Utara 40.00%

Sumber: Colliers International Indonesia — Riset dan Advisory

 Mayoritas ruang rite! di Bandung terletak di Bandung Selatan (39,79%), diikuti Bandung Utara (25,32%), dan Bandung Pusat (18,82%). Hanya terdapat satu pusat belanja di Bandung Timur, yaitu Trans Studio Mall (TSM)  Akan tetapi, sebagian besar pusat belanja berada di Bandung Utara (40%), Jumlah pusat belanja di Bandung Pusat dan Selatan memiliki rasio yang sama, yaitu 26.67%.

130

Colliers

Kinerja Tingkat Hunian Ruang Ritel Sewa Berdasarkan Lokasi

I NT E PN , % 1H u NA L

Berdasarkan Segmen Pasar

100% 100 BO% --

woo

%

60% -

80%

40%

60%

20% _

40%

0% _

20% 2014 --- Rata-rata Timur

2015 Pusat

1Q2016 Utara

Selatan

2014 0% .1041M MM.

2015

1Q2016

Rata-rata

Menengah

Menengah-Atas

Atas

Sumber: Colliers International Indonesia — Riset dan Advisory

Dengan pasokan yang terbatas, ruang ritel sewa di Bandung Timur memiliki tingkat hunian tertinggi, yaitu 99% Kinerja yang baik juga ditunjukkan oleh ruang ritel di Bandung Utara (86%) dan Bandung Pusat (84.8%). Sementara itu, tingkat hunian ritel di Bandung Selatan hanya 65%. Dengan bauran pasar yang beragam dan cakupan pasar yang luas, pusat belanja kelas menengahatas dan atas mencapai tingkat hunian yang paling tinggi pada 97% dan 99%. Sementara itu pusat belanja kelas menengah memiliki tingkat hunian lebih rendah 65,6%. 131

Colliers

Kinerja Tarif Sewa Ruang Ritel Berdasarkan Lokasi

Berdasarkan Segmen Pasar

Rp700,000

Rp700,000

Rp600, 000

Rp600,000

Rp500,000

Rp500,000

Rp400,000

i,„

------------------------------------ a a

Rp400,000

•-•

Rp300,000

Rp300,000

Rp200,000

Rp200,000 4

Rp100,000

Rp100,000

Rp0

Rp0 2014

2015

Rata-rata

Pusat

Timur

Selatan

1Q2016 Utara

2014

2015

1Q2016

Rata-rata

Menengah

Menengah-Atas

Atas

Sumber: Colliers International Indonesia - Riset dan Advisory

 Berdasarkan wilayah, tarif sewa tertinggi diterapkan oleh pusat belanja di Bandung Timur (dengan hanya 1 pusat belanja) dengan Rp.675.000/m2/bulan, diikuti di Bandung Pusat (Rp. 409.375/m2/bulan) dan Bandung Utara (Rp.405.000/m2/bulan). Sementara itu ruang ritel di Bandung Selatan menerapkan tarif sewa terendah sebesar Rp.243.000/m2/bulan.  Sementara berdasarkan kelas, tarif sewa untuk pusat belanja di Bandung adalah Rp 209.000/m2/bulan (kelas menengah), Rp 475.000/m2/bulan (kelas menengah-atas) dan Rp 641.000/m2/bulan kelas atas.  Rata- rata peningkatan tarif sewa untuk pusat belanja di Bandung adalah antara 0 — 5% per tahun 132

Tarif Sewa, Biaya Pemeliharaan dan Tingkat Hunian pada Januari 2016 100%

800,000 _____

__ 90%

700,000 _____

__ 80% 70% 60%

600,000 500,000

50%

400,000

40%

300,000

30%

200,000

H-- 20%

100,000

10%

100%

800,000

90%

700,000

80% 600,000

70%

500,000

60%

400,000

50%

300,000

40% 30%

200.000

20%

100,000

10% 0%

0% Pusat Utara Timur Selatan Tarif Sewa

Biaya Perawatan

Tingkat Hunian

Tingkat Hunian

900,000 _____

Tarif Sewa dan Biaya Perawatan

Berdasarkan Segmen Pasar

Tingkat Hunian

Tarif sewa dan Biaya Perawatan

Berdasarkan Lokasi

Colliers

Menengah Menengah -Atas Atas Tarif Sewa

Biaya Perawatan

Tingkat Hunian

Sumber: Colliers International Indonesia — Riset dan Advisory

 Bandung Timur, dengan hanya satu pusat belanja, leluasa menerapkan tarif sewa tertinggi, dan mencapai tingkat hunian tertinggi.  Sebaliknya bandung Selatan, dengan pasar kelas menengah, hanya menerapkan tarif sewa terendah; dan mencapai tingkat hunian terendah.  Pusat belanja kelas menengah-atas dan atas mencapai tingkat hunian tertinggi, walau dengan tarif sewa yang berbeda.  Service charge yang diterapkan pusat belanja di Bandung berkisar antara Rp 70.000 sampai Rp 140.000 per m2 per bulan.

Pasokan Ruang Ritel Strata-Title di Bandung

Colliers

Ni,

1■ MIMIEW

---------It 21 66°19_

IIIII INN II I :HEINE Lill: ; 1111 11 1111 I II 1 N l I t i 11 II 1 11 1 II 11 II 4 IIIIIIIIIIII 1 I 11 I a II

140.0%

140,000

120.0%

Ruang Ritel (m2)

120,000

100.0% g

100,000

60,000 40,000

t o% 160.0%

160,000

80,000

ET:N,V110f.1,L.

80.0% •

I

60.0% § 40.0% it

„ III

20,000

r

20.0% 0.0% -

r

0()0 0 0 0 0 0ie 0 0 0b•I■1\ f

t i

l e

l e

l e

4

3

co (

1 7

A

l e

Pasokan Awal

20.0%

t

l e

l e

■P• ■■ l e

l e

l e

l e

rm. Pasokan Tahunan

l e

l e

l e

C )

O N N N l e l e

93

cb

l e

Pertumbuhan

Sumber : Colliers International Indonesia — Advisory

 Pada Januari 2016, Bandung memiliki pasokan ruang ritel strata-title sebanyak 150.987m2.  Pertumbuhan ruang ritel strata-title di Bandung bertumbuh tinggi selama periode 2000 — 2008, sebesar 21,56% per tahun.  Sejak tahun 2008, hampir tidak ada lagi ruang ritel strata-title masuk pasar di Bandung. Hanya ada tambahan pasokan di tahun 2011 (dari Metro Dallas). Secara umum, selama periode ini, pasokan tumbuh 0,20% per tahun.  Sampai tahun 2019, tidak ada lagi tambahan pasokan ruang ritel strata-title. 135

5.4 Pasar Ritel Jatinangor

Kriteria Pusat Belanja Pesaing

Colliers IN TE - +• N A 1 1 , 1 , , r/

Kriteria Pusat Belanja Pesaing 

Lokasi Pusat belanja yang berlokasi di Jatinangor

Kriteria Pusat Belanja Pembandinq Karena hanya terdapat satu pusat belanja di Jatinangor, maka dipilih pusat belanja pembanding, yang memiliki karakteristik sebagai berikut: 

Lokasi Pusat belanja yang terletak di Bandung, Jakarta atau Tangerang



Konsep Pusat belanja dengan konsep lifestyle, memiliki bauran pasar yang didominasi oleh gerai makanan dengan kombinasi speciality shop dan memiliki outdoor area untuk gerai makanan



Segmen Pasar dan skema pemasaran Pusat belanja kelas menengah sampai kelas atas, yang dipasarkan dengan skema sewa



Tahun Operasi Pusat belanja yang sudah beroperasi dan yang masih dalam tahap konstruksi.

Daftar Pusat Belanja Pesaing dan Pembanding 0

Nama Ritel

YOP

Developer

Colliers NTE P NATI,.NAL

III•1I■ 1111

Luas Area Luas Lahan Sewa (m2) (m2)

Atamat

Pusat Belanja Pesaing 1 [Jatinangor Town Square

2006

IPT. Bandung Inti Graha Gru_pT

19.200

30.000

{ Jalan Raya Jatinagor No. 150

pusat Bela* Pembanding ---2

6 7

Cihampelas Walk 1Paris Van Java

2004

-- PT. Karya Abadi Samarga

24.000

35.000

JI. Cihampelas No. 160

PT. Bintang Bangun Mandiri

---------- Braga City Walk

2006 2006

Agung Podomoro Group

26.500 15.413

38.000 7.800

JI. Sukajadi No. 131-139 JI. Braga No. 99-101

Cihampelas Walk 2

2009

PT. Karya Abadi Samarga

8.000

35.000

Cilandak Town Square L a P i a z z a The Breeze

2002

PT Graha Megaria Raya

25.637

38.992

JI. Cihampelas No. 160 JI. T.B. Simatupang Kay. 17

2004

PT. Summarecon A_gung, Tbk PT. Sinar Mas Land, Tbk

11.000

20.000

JI. Boulevard Kelapa Gading

24.300

25.000

JI. Grand Boulevard BSD

2013

Sum ber: Colliers International Indonesia —Advisory

Berdasarkan kriteria sebelumnya, maka terpilih satu pusat belanja pesaing (Jatinangor Town Square) di Jatinangor, dan tujuh pusat belanja pembanding (terdiri dari empat pusat belanja di Bandung, dua pusat belanja di Jakarta dan satu pusat belanja di Tangerang) Rata- rata luas area sewa pusat belanja adalah kurang dari 30.000 m2, dengan luas lahan lebih besar daripada luas area sewa. Secara umum ritel dengan konsep life style, dengan bauran pasar didominasi oleh gerai makanan, mulai marak beroperasi sejak tahun 2002, dengan suksesnya Cilandak Town Square di Jakarta.

138

Gambar Pusat Belanja Pesaing dan Pembanding Jatinangor Town Square

Cihampelas Walk Ext

Cihampelas Walk

Paris Van Java

Cilandak Town Square

La Piazza

Sumber: google.com dan Colliers International Indonesia -Advisory

Colliers iNTEkNAl

Braga City Walk

Colliers

Lokasi Pusat Belanja Pesaing dan Pembanding (Bandung)

I NT E R NAT I O NA L

Pusat Belan'a Pesain • 1 Jatinan or Town S s uare Pusat Belarfa Pembandinc 1 Cihampelas Walk 2 Paris Van Java 3 Braga City Walk 4 Cihampelas Walk Extension

Sumber: Wikimapia dan Colliers International Indonesia — Advisory

Rata- rata lokasi pusat belanja pembanding yang berada di Bandung memiliki jarak 20 — 23 km (jarak udara) kesebelah barat atau berjarak 39 — 42 km (jalan) dari Properti.

Lokasi Pusat Belanja Pembanding di Jakarta dan Tangerang

Colliers '•1 E

Pusat Belanja Pembanding

Cilandak Town Square La Piazza The Breeze

Witt

Jakarta

) ta...

Tangerang .

-or.41t

N4

aa.. i J a k a r t a

Central

...moor •aweld AP.

10'

. lui.ep,,Nmg +

Jakarta

. 4 4. r

S011 ..V' 'range ang

A ,

I

South far WI .. \ : 0 ,,

41"

-.4...or

Aikido

4

.4•11.

Sumber: Wikimapia dan Colliers International Indonesia —Advisory

Sementara untuk pusat belanja pembanding yang ada di Jakarta, masing- masing berlokasi di Jakarta Selatan, Jakarta Utara dan Tangerang Selatan.

Colliers

Karakteristik Pusat Belanja

INTERN4TIONAL

1

1■ I■ 1I■ 1

Kategori Pusat Belanja Berdasarkan Konsep

Tipe

Konsep

Neighbourhood Center

Kenyamanan

Pusat Perbelanjaan Komunitas

Merchandise umum; Kenyamanan

Luas Area Termasuk Luas Anchor (m2)

Jenis Anchor Jumlah

2.787 — 13.935

Swalayan >

9.290 — 32.516 1a

Pusat Perbelanjaan Wilayah

Merchandise urnurn; Fashion (umumnya berupa mall)

Memiliki konsep yang sama dengan regional center, tetapi Pusat Perbelanjaan Super lebih lengkap dan bervariasi Wilayah Pusat Perbelanjaan Khusus (Fashion) Power Center Pusat Perbelanjaan Bertema/Festival

37.161 — 74.322

Tipe

2a

2 a74.322 a3

Berorientasi fashion dan mewah

7.432-23.266

Didominasi oleh anchor

23.266-55.742

N/A

Rekreasi; Berorientasi pada W isatawan; Pusat belanja dan Jasa

7.432-23.266

z3

Menjual barang-barang pabrik

4.645-37.161

N/A

Department Store diskon, Swalayan, Apotik, Toko Peralatan Rumah, Toko Pakaian Khusus/Diskon Department Store Lengkap, Department Store Junior, Kelompok Penyewa, Department Store Diskon, Toko Pakaian D Department Store Junior, Kelompok Pusat belanja, Toko Pakaian Fashion

Sumber: Colliers International Pusat Perbelanjaan Outlet Indonesia —Advisory N/A

Perlengkapan Rumah, Department Store Diskon, Warehouse Club Restoran dan Hiburan Outlet barang-barang pabrik

Rasio Anchor (%)

Luas Cakupan Area (Km)

30-50

4,8

40-60

4,8 — 9,7

50-70

8-24,1

50-70

8-40,2

N/A

8-24,1

75-90

8-16,1

N/A

N/A

N/A 40,2-120 ...........................................................i.................................................

Aga142

Karakteristik Pusat Belanja berdasarkan Konsep Januari 2016 Pusat Belanja Pesaing

Pusat Belanja Komunitas 100%

Colliers ,

N

E

IMMIIMEMINP!

Pusat Belanja Pembanding

Pusat Belanja Bei tema 43%

Pusat Belanja Komunitas 5 7%

Sumber: Colliers International Indonesia — Advisory

 

Berdasarkan konsep, pusat belanja pesaing merupakan pusat belanja komunitas, yang melayani hanya masyarakat sekitar. Sementara pusat belanja pembanding terdiri dari 57% pusat belanja komunitas dan 43% pusat belanja bertema (lifestyle concept)

Karakteristik Pusat Belanja

Colliers iNTE,N.41,utJAL



Pusat Belanja Sewa Kelas Menengah-Bawah Pusat belanja sewa kelas menengah-bawah merupakan pusat belanja yang terdiri dari departemen store dan supermarket lokal kelas menengah-bawah (Ramayana, Robinson). Restoran/kafe yang terdapat pada pusat belanja kelas menengah-bawah adalah restoran/kafe lokal yang tidak memiliki jaringan.



Pusat Belanja Sewa Kelas Menengah Pusat belanja sewa kelas menengah merupakan pusat belanja yang terdiri dari departemen store kelas menengah (Matahari, Star, Centro) dan supermarket/hipermarket kelas menengah (Giant, Carrefour, Hypermart dan Lottemart). Restoran/kafe yang terdapat pada pusat belanja kelas menengah adalah restoran/kafe yang memiliki jaringan Indonesia atau internasional.



Pusat Belanja Sewa Kelas Menengah-Atas Pusat belanja kelas menengah-atas merupakan pusat belanja yang terdiri dari departemen store kelas menengah-atas (Metro, Sogo, Debenhams, Seibu) dan supermarket internasional/lokal kelas menengah-atas (Foodmart, Foodhall, Ranch Market, Kemchicks). Restoran/kafe yang terdapat pada pusat belanja kelas menengah-atas adalah restoran/kafe yang memiliki jaringan Indonesia atau internasional.

 Pusat Belanja Kelas Atas Pusat belanja kelas premium memiliki bauran pasar atau penyewa yang hampir sama dengan pusat belanja kelas menengah-atas, namun pada pusat belanja ini terdapat penyewa dengan merek internasional kelas premium. Selain itu pusat belanja premium terletak pada area pusat bisnis (CBD). Restoran/kafe yang terdapat pada pusat belanja kelas premium adalah restoran/kafe yang memiliki jaringan Indonesia atau internasional.

Sum ber: Colliers International Indonesia — Advisory

14.

i

Karakteristik Pusat Belanja Berdasarkan Segmen Pasar Pusat Belanja Pesaing

Menengah

100°0

Pusat Belanja Pembanding

tvlenengah Atas 57%

Menengah 43(i,.

Sumber: Colliers International Indonesia — Riset dan Advisory

 Satu-satunya pusat belanja di Jatinangor merupakan pusat belanja kelas menengah, dengan penyewa utama Superindo (supermarket) dan Pojok Busana (department store) dan gerai makanan nasional (Bakso Malang Karapitan, d'Cost Warung)  Pusat belanja pembanding didominasi oleh pusat belanja kelas menengah-atas (57 persen) dan kelas menengah (43 persen)

145

Karakteristik Pusat Belanja Berdasarkan Luas Area Sewa Pusat Belanja Pesaing

Colliers

Pusat Belanja Pembanding

Kecil 43% Sedang 57% Kecil 100% 1

Kecil:

<20,000 m

Sedang:

20,000 — 40,000 m

111!. Besar:

.

>40,000 m

Sumber: Colliers International Indonesia — Riset dan Advisory

 Satu-satunya pusat belanja di Jatinangor adalah pusat belanja berukuran kecil.  Sedangkan sebagian besar (57%) pusat belanja pembanding adalah pusat belanja berukuran sedang. Dan 43% merupakan pusat belanja berukuran kecil.

Kinerja Pusat Belanja Pesaing dan Pembanding berdasarkan Tarif Sewa dan Tingkat Hunian, 2016 Jatinangor Town Square

The Breeze

Colliers "J'e

11!IINIMM11■ 0

Cilandak Town Square

100% -90% __ Paris Van Java 80% __ 70%

.z•

Cihampelas Walk

La Piazza 60% 50% 40% 30%

Braga City Walk

20% 10% 0% Rp0

Rp100,000

Rp200,000

Rp300,000 meter2

Rp400,000

Per per bulan Pusat Belanja Pembanding •Pusat Belanja Pesaing Sumber: Colliers International Indonesia - Riset dan Advisory

Rp500,000

14,

Rp600,000

Kinerja Pusat Belanja Pesaing berdasarkan Tarif Sewa dan Tingkat Hunian, Januari 2016

Colliers ,

N T E 1 7 N 4 11 tiN A L

armns■ mliws

Berdasarkan tarif sewa, pusat belanja dapat dikelompokkan menjadi tiga, yaitu:  Kelompok pusat belanja dengan tarif sewa maksimal Rp 200.000 per meter2 per bulan. Hanya terdapat 1 pusat belanja dalam kelas ini, yaitu La Piazza dengan harga sewa Rp 150.000 per meter 2 per bulan dengan tingkat hunian 80%  Kelompok pusat belanja dengan tarif sewa antara Rp 200.000 dan Rp 400.000 per meter2 per bulan. Terdapat 3 pusat belanja dalam kelompok ini, Jatinangor Town Square yang merupakan pusat belanja pesaing juga terdapat dalam kelas ini dengan tarif sewa Rp 250.000 per meter2 per bulan dan mencapai tingkat hunian 88%. Sementara 2 pusat belanja yang lain adalah pusat belanja pembanding: Braga City Walk dengan tarif sewa Rp 225.000 per meter2 per bulan dan tingkat hunian 50% (dikarenakan sedang dalam proses re-branding oleh pengembang), dan The Breeze dengan tarif sewa Rp 375.000 per meter 2 per bulan dan tingkat hunian 90%.  Kelompok pusat belanja dengan tarif sewa Iebih dari Rp 400.000 per meter2 per bulan. Pusat belanja yang termasuk dalam kategori ini adalah pusat belanja dengan kelas menengah-atas yang berada di Bandung dan Jakarta. Terdapat tiga pusat belanja yang termasuk dalam kategori ini yaitu Cihampelas Walk, Paris Van Java (PVJ) dan Cilandak Town Square (Citos). Cihampelas Walk menerapkan tarif sewa Rp. 550.000/meter2/bulan dan mencapai tingkat hunian 98%, sementara Paris Van Java dan Cilandak Town Square memiliki tarif sewa yang sama yaitu Rp. 450.000/meter2/bulan dengan tingkat hunian 99% untuk PVJ dan 100% untuk CITOS.

A l0e 4 E

Colliers

Biaya Perawatan, 2016

NTE

J'Cr

IM=MMil■•

Rp140,000 Rp120,000 c Rp 100,000  Rp80,000 a)

0. Rp60,000 cu Rp40,000 Rp20,000 Rp0 Jatinangor Town Cihampelas Square Walk

Paris Van Java Braga City Walk Cilandak Town Square

 usat Belanja Pesaing

■ Pusat Belanja Pembanding

La Piazza

The Breeze

P

Sumber: Colliers International Indonesia — Riset dan Advisory

 Pusat belanja pesaing menerapkan biaya perawatan Rp 50.000/meter2/bulan.  Pusat belanja pembanding menerapkan biaya perawatan antara Rp. 40.000 — Rp. 118.000/meter2 /bulan.  Biaya perawatan tertinggi diterapkan oleh Paris Van Java yaitu sebesar Rp. 118.000/meter2/bulan.

149

Colliers

Kinerja Jumlah Pengunjung, Januari 2016

NTF

_IJN

35,000 l

e 30,000  -■ 25,000 2

C

°- 20,000 to 2E 15,000 .

,

vi 10,000 I

2• 5,000

1

0 Jatinangor Town Cihampelas Walk Paris Van Java Braga City Walk Cilandak Town Square Square Pusat Belanja Pesaing

La Piazza

The Breeze

• Pusat Belanja Pembanding

Sumber: Colliers International Indonesia — Riset dan Advisory

 Jatinangor Town Square dikunjungi rata-rata 8.700 pengunjung perhari, dengan tingkat kunjungan tertinggi pada akhir pekan dengan 13.000 pengunjung.  Pusat belanja pembanding di Bandung yang memiliki tingkat kunjungan tertinggi adalah Cihampelas Walk dengan rata- rata tingkat kunjungan 17.500 pengunjung dan mencapai 24.000 pengunjung pada akhir pekan.  Pusat belanja pembanding di Jakarta dengan tingkat kunjungan tertinggi adalah Cilandak Town Square dengan 22.800 per hari dan menjadi 30.000 pengunjung pada akhir pekan.

150

Bauran Pasar 100%

■

_____________=11

90% 80% 70% 60%

mJasa-jasa  Anak  Musik, Toko Buku dan Hobi Toko Obat  ❑ ptik  Elektronik dan HP

50% 40%

 Hiburan

30% 20%

Salon dan Kecantikan  Perhiasan dan Jam Alat-

10%

alat Rumah Tangga

0% Jatinangor Cihampelas Town Square Walk 1

Paris Van Java

Busana dan Asesoris (Busana, Sepatu dan Tas) Anak (Taman bermain anak dan toko mainan anak)

Braga City Cilandak Walk Town Square

La Piazza The Breeze

 Food and Beverage  Busana dan Asesoris

Food and Beverage (Restaurant, Café, Food court) Jasa-jasa (Bank, Money Changer, Travel, Laundry)

 Rata- rata pusat belanja memiliki penyewa berupa Food and Beverage serta busana dan asesoris.  Pusat belanja pesaing memiliki proporsi penyewa terbesar untuk busana dan asesoris (45%) diikuti oleh F&B (20%).  Untuk pusat belanja pembanding di Bandung, Paris Van Java memiliki proporsi terbesar untuk busana dan asesoris, sementara Cihampelas Walk dan Braga City Walk didominasi oleh penyewa F&B  Untuk pusat belanja pembanding di Jakarta, rata-rata didominasi oleh penyewa F&B sehingga ketiga pusat belanja ini sering dijadikan meeting point. Sumber : Colliers International Indonesia - Advisory

Colliers

Bauran Pasar k--Tenant

Pusat Belanja Pesainq ,. Cihampels Jatinangor Town Walk Square

Hypermarket/ Supermarket v Department Store v v Toko Buku v Restoran ........................................... . v ,: i,o'd Court v Salon dan Toko Kecantikan ........... v Elektronik .......................................... v M o b i l e P h o n e v . . Optik _ .......................................... v Taman Bermain v Anak .................. v Bioskop Hiburan v (Karaoke ) Pusat ......__ v Kebugaran Toko v Obat v F .a.s. h i o n a n d A c c e s s o r i e s v Sepatu ..._ .................................. Perhiasan dan Jam v Home ... Furniture Toko Mainan Anak Sumber Colliers International Indonesia - Advisory

o 

, NT ERN AT ION AL

Pusat Belanja Pembanding Paris Van Java v

v

....... ...

v v v v v v v

_ .._._

v

v -

v

v

Braga City Walk -

Cilandak Town Square

La Piazza

v

v v -

v v

v v

. . _ v

-

v

v

The Breeze v v ...................... -

v ......___

v

-

v

v v v v v v -

-

v

-

v v v v v

v -

-

, v v v

v . . . . . . . . . v v v v ............... .._ -

v v v v v v v v v v v ............................................................___ v v Secara umum, pusat belanja pesaing dan pembanding memiliki restoran serta fashion dan asesoris. Untuk pusat belanja pesaing, memiliki bauran v pasar yang cukup komprehensif (hampir semua jenis

disediakan)

-

Bauran Pasar

Colliers NT E

Fashion dan Aksesoris Nama Pusat Perbelanjaan

Internasional

Makanan dan Minuman

Nasional Lokal

Internasional

usat Belanja Pesa ng

Nasional

Lokal

Hypermarket-Supermarket

Intemasional Nasional Lokal

.i

a t in an g o r Town quare

T ' r■

Department Store

Intemasional

Nasional

Lokal

Pojok Busana

Superindo

usat Belanja Pembanding ihampelas Walk

Welcome

4

aris Van Java

4

4

Hypermart

4

4

Foodmart

Yogya Sogo

raga City Walk ilandak Town quare

if

Matahari

Piazza e Breeze

Ranch Market

Sumber: Colliers International Indonesia —Advisory

Semua hypermarket-supermarket dan department store pusat belanja pesaing dan pembanding merupakan brand nasional (kecuali di Cihampelas Walk dengan department store lokal).

153

Colliers

Potensi Pasar

Karena ritel ini akan dibangun sebagai bagian dari pembangunan komersial terpadu, Konsultan berpendapat bahwa target pasar pusat belanja, jika dibangun di atas lahan Properti, adalah:  

Penguhuni apartemen yang direncanakan akan dibangun di Properti Dad luar Properti, yaitu penduduk yang berada dalam kecamatan dan kecamatan yang bersinggungan dengan lokasi Properti.

Dari Dalam Properti Komponen kondotel Eksisting Tipe Unit Studio 2 Kamar Tidur 3 Kamar Tidur Total Rata-rata tingkat hunian apartemen (50%) Total cakupan pasar dari apartemen (70% dari total penghuni) Apartemen Strata Tower 2 dan 3 Tipe Unit Studio 1 Kamar Tidur 2 Kamar Tidur Total Rata-rata tingkat hunian apartemen (50%) Total cakupan pasar dari apartemen (70% dari total penghuni) Total Potensi Penounjunct.

1 _____________ Konsep Colliers Jumlah Unit 540 160 180 880

Asumsi Jumlah Orang .......... per Unit 1 2 4

Total 540 320 720 1580

7 90 553 Jumlah Unit 968 220 220 1408

Asumsi Jumlah Orang per Unit 1 1 2

Total 968 220 440 1188

594 416 969

Sum ber: Colliers International Indonesia — Riset dan Advisory

155

1

Colliers

Potensi Pasar

NTP•Ne■TILNAL

Dari Luar Properti: 1. 2.

Kecamatan Jatinangor Kecamatan-kecataman yang Iangsung berbatasan dengan Kecamatan Jatinangor adalah:  Kecamatan Tanjung Sari  Kecamatan Sukasari  Kecamatan Cilengkrang  Kecamatan Cileunyi Kecamatan

2012

2013

2015P

2016P

2017P

2018P

2019P

2020P

111,886 117,072

119,343

121,614

123,884

126,155

128,426

2014

113,849

111,147

bersinggungan o r an g) a.Kec am atan T anjun g S ar i

80,702

78,803

79,355

82,941

84,065

84,513

85,412

86,579

88,383

D. Kecamatan Sukasari

32,082

32,373

32,930

32,499

32,586

32,673

32,761

32,848

32,935

:. Kecamatan Cilengkrang

49,302

50,765

52,563

54,274

55,985

57,696

59,407

61,118

62,829

i. Kecamatan Cileunyi

171,929

175,193

176,499

178,479

180,45

182,438 184,418 186,397

188,3773

Total

334,015

337,134

341,348

348,193

8

357,321

361,997

366,942

72,523

Total Catchment Area (people)

447,864

448,281 I 453,234

353,094 478,935 472,437

485,881

493,097

500,949

Penduduk Kecamatan Jatinangor (orang) r enduduk Kecamat an yang

465,266

Sumber: Badan Pusat Statistik dan Colliers International Indonesia - Riset dan Advisory

156

Colliers

Potensi Pasar Kelompok Pengeluaran HH Expenditure HH Expenditure - A2 HH Expenditure – B HH Expenditure HH Expenditure HH Expenditure HH Expenditure - C4 HH Expenditure – D HH Expenditure - E

- Al

- Cl - C2 - C3

INTERNATIONAL

OUTER BANDUNGPopulation Jumlah Pengeluaran Vert% . (in '0001 1,975 100 Above 6 Mio/month ... 0.1 .... 2 3.5 .. 4-6 Mio/month 70 23.5 .. 2.5-4 Mio/month 4 6 4 2-2.5 Mio/month 20.3 3 77 f 400 19 I . 7 5 2 . 0 1.5-1.75 Mio/month 181 9.2 1.25-1.5 Mio/month 296 15.0 — ---------- . 0.9-1.25 Mio/month 162 8.2 Below 0.9 Mio/month 23 1.2

Sebagian besar, 62,8% rumah tangga di sekitar Properti merupakan rumah tangga dalam kelompok pendapatan C2 - B (dengan rentang pengeluaran rumah tangga antara Rp 1,75 juta hingga Rp 4 juta per bulan). Maka, dapat dikatakan, mayoritas rumah tangga di wilayah Properti adalah rumah tangga kelas menengah.

Sumber: Nielsen Consumer Media View Wave IV 2015 - Colliers International Indonesia – Riset dan Advisory

Berdasarkan analisis Konsultan, penduduk yang berpotensi untuk berbelanja di pusat belanja modern adalah penduduk dengan pengeluaran Iebih dari Rp 2 juta setiap bulannya dengan proporsi 47,4%. Maka terdapat 233.728 orang yang menjadi potensi pasar dari pusat belanja yang akan dikembangkan. Potensi Pasar Jumlah penduduk cakupan terdekat Jumlah penduduk cakupan -nenengah terjauh Total

2012 53.964

2013 52.684

212.4851214.833

2019P 2 0 2 0 P

2015P

2016P 2 0 1 7 P

55.492

56.569 57.645

58.721

59.798

60.874

165.044

167.367 169.370

171.586

173.930

176.576

2018P

2014P 158.323 212.288

159.802 ------------- 53.034

161.799 220.536

223.935 227.015 230.308

233.728 237.450

Sum ber: Badan Pusat Statistik dan Colliers International Indonesia - Riset dan Advisory

157

Potensi Pasar

"JTE

Colliers 4

11■1110IIMINI

Potensi Jumlah Kunjungan ke Pusat Belanja

Frekuensi Kunjungan Lebih dari 1 kali per minggu* 1 kali per minggu 1 k a l i p e r b u l a n 2 k a l i p e r b u l a n Tidak pernah mengunjungi mall Total

40% dari total populasi 20% dari total populasi 20% dari total populasi 18% dari total populasi 2% dari total populasi 100% dari total populasi

Sumber: Colliers International Indonesia — Riset dan Advisory

Al101111°158

Colliers

Potensi Pasar

N-I-El+N

L ON'•

Potensi Jumlah Kunjungan ke Pusat Belanja rotensi 'unman Kumunaan aan lurniaapenauauK caKupan teraeKat per man Frekuensi Kunjungan 2012 2013 2014P 2015P 2016P % Lebih dari 1 kali per minggu* 40.0% 172.686 168.588 169.709 177.575 181.019 42.147 44.39 45.255 Satu kali per minggu 20.0% 43.172 42.427 10.793 10.537 10.607 11.098 11.314 Satu kali per bulan 20.0% Dua kali per bulan 18.0% 19.427 18.966 19.092 19.977 20.365 98.0% 246.078 240.238 241.83E1 253.045 257.953 Total Hampir tidak pernah mengunjungi mall 2.0% *Asumsi 2 kali per minggu

2017P 184.464 46.11a 11.529 20.752 262.861

2018P 187.908 46.977 11.744 21.140 267.769

2019P 2020P 191.352 194.796 47.838 48.699 11.96C1 12.175 21.527 21.915 272.677 277.585

Potensi iumlah kuniiungan dari iumlah penduduk cake an menenoah teriauh per bulan 2014P 2015P 2016P 2017P % 2012 2013 Frekuensi Kunjungan Lebih dari 1 kali per minggu* 40.0% 506.63, 511.36" 517.75e 528.14C 535.572 541.984 Satu kali per minggu 20.0% 126.65:- 127.841 129.435 132.03E 133.893 135.496 Satu kali per bulan 20.0% 31.66 31.961 32.36C 33.M. 33.472 33.874 Dua kali per bulan 18.0% 56.99= 57.52 • 58.24e 59.41E 60.252 60.973 98.0% 721.95 ' 728.69' 737.802 752.59E 763.192772.328 Total Ham pir tidak pernah mengunjungi mall 2.0% *Asumsi 2 kali per minggu

2018P 549.077 137.26c 34.317 61.771 782.434

2019P 556.577 139.144 34.78E 62.61E 793.12

2020P 565.044 141.261 35.315 63.567 805.187

nsi iumlah kuniunaan dari caku an penduduk per bulan 2012 1 2013 % 2014P 2015P 2016P 2017P 2018P 2019P 2020P Frekuensi Kunjungan Lebih dari 1 kali per minggu* 40.0% 679.320 679.953 687.465 705.715 716.593 726.448 736.985 747.929 759.840 Satu kali per minggu 20.0% 169.830 169.988 171.86e 176.429 179.148 181.612 184.246 186.982 189.960 Satu kali per bulan 20.0% 42.458 42.497 42.967 44.107 44.787 45.402 46.062 46.746 47.490 Dua kali per bulan 18.0% 76.424 77.340 79.393 80.617 81.7251 76.495 82.9111 84.142 85.482 98.0% 968.031 968.932 979.637 1.005.644 1.021.145 1.035.188 1.050.202 1.065.799 1.082.772 Total Ham pir tidak pernah mengunjungi mall 2.0% *Asumsi 2 kali per minggu

Sumber: Colliers International Indonesia - Riset dan Advisory

159

Colliers

Potensi Pasar

NITET•IN ATIONP

Potensi Jumlah Kunjungan ke Pusat Belanja Pusat Belanja Pesaing Jatinangor Town Square

Hari Kerja

Akhir Pekan

Total Pengunjung

8.000

13.000

300.000

Total Pengunjung Pusat Belanja Pesaing (Pengunjung/bulan) Total Potensi Pengunjung dari Kecamatan Jatinangor dan sekitarnya (Pengunjunglbulan)

300.000 t050.203

Total Potensi Pengunjung dari Pusat Belanja yang Diusulkan (Pengunjunglbulan)

750.203

Pembagian Potensi Jumlah Pengunjung dengan Pusat Belanja dalam tahap Konstruksi (Pengunjunglbulan)

750.203

Total Potensi Pengunjung di Pusat Belanja yang Diusulkan (Pengunjunglhari)

24.200

Sumber: Colliers International Indonesia - Riset dan Advisory

160

Colliers

Potensi Pasar

,NTE

Dari perhitungan potensi pasar sebelumnya dapat terlihat bahwa terdapat potensi sebesar kurang Iebih 24.200 kunjungan (dari luar properti) sementara dari dalam Properti terdapat potensi pengunjung sebesar 969 kunjungan, namun jika dilihat dari kondisi pasar dan berdasarkan performa pengunjung dari pusat belanja yang telah beroperasi di Jatinangor dengan maksimal kunjungan adalah 13.000 orang per hari, maka diproyeksikan jumlah pengunjung untuk pusat belanja yang akan dikembangkan diatas Properti adalah sebanyak 15.000 kunjungan per hari, sehingga didapatkan luasan NLA yang dibutuhkan antara 9.643 m 2 sampai dengan 28.929 m2

Potensi NLA Pusat Belanja yang direncanakan Asumsi A Jumlah Pengunjung

Asumsi B 15.000

15.00C

Rp50.000

Rp150 00C

Total Pengeluaran di Mall (Rp/bulan)

Rp22.500.000.000

Rp67.500.000.00C

Alokasi pengeluaran untuk sewa (%)

15%

15%

Rp3.375.000.000

Rp10.125.000.000

Rp350.000

Rp350.000

9.643

28.925

12.857

38.571

Total Pengeluaran (Rp/ orang)

Alokasi pengeluaran untuk sewa (Rp/bulan) Rata- rata harga sewa dari mall pesaing dan pembanding (Rp/m2/bulan) Net Leasable Area (NLA) yang dibutuhkan (m2) Gross Floor Area (GFA) yang dibutuhkan (m2) Sum ber: Colliers International Indonesia — Riset dan Advisory

Kriteria Skoring untuk Pengembangan Pusat Belanja Score

Area

Lokasi

5

Jakarta

Terletak di jalan utama daerah primer

4

3

2

1

Terletak di jalan Bandung utama yang dekat dengan daerah primer Terletak di Tangerang jalan sekunder Selatan dari daerah primer Terletak di jalan Jatinangor sekunder yang dekat dengan daerah primer

-

Terletak di jalan lokal

Net Leasable aasar uran BP Area >40.000

Jumlah Pengunjun q per Hari

Area Parkir

Desain Bangunan

>17

>25,000

Parkir gedung dan basement

Sangat menarik

15-17

20,001 25,000

30.00040.000

20.00030.000

12-14

15,001 20,000

9-11

8,001 15,000

<10.000 ................................... .

Sum ber : Colliers International Indonesia — Advisory

surface parking Parkir gedung dan

surface parking >50

surface parking <50 lots

q1111•111111E1111•1

Umur

< 5 tahun 5-10 tahun 11-16 tahun

Kurang Menarik

dengan

Konsep Fungsi lain (hotel, kantor ....... apartemen) Dengan gedung kantor Dengan 2 fungsi lain

perbaikan Tidak Menarik

lots a,000

NT EPt gAl IO NAL

Menarik

surface parking

10.00020.000

Basement dan

Colliers

Sangat Tidak Menarik

Dengan 1 fungsi lain

besar >16 tahun dengan Tidak memiliki perbaikan konsep fungsi kecil lain Dengan 3 fungsi

> 16 tahun

162

Skoring untuk Pengembangan Pusat Belanja Net Bauran Pusat Belanja Pesaing dan Area Lokasi Leasable Pasar Area Pembanding 15% 10% 25% 15% Pusat Belanja Pesaing 2 3 Jatinan . or Town Seuare 2 5 Pusat Bela nja Pembanding

Jumlah

Area Parkir

Desain

5%

2

Pengunjung

per Hari 15%

Colliers NTENN4fIUNAL

1■11■11111

.. Skor Kumulatif Harga Sewa 100%

10%

m.n U ur Bangunan 5%

Konsep Fungsi 10%

4

3

2

1

3,00

250,.000

Cihampelas Walk

4

3

3

5

4

5

5

3

1

3,95

550.000

Paris Van Java

4

3

3

5

3

5

5

4

1

3,85

450.000

Braga City Walk

4

3

3

2

1

3

4

3

3

3,05

225.000

Cilandak Town Square

5

4

3

3

4

4

5

3

1

3,95

450.000

La Piazza

5

3

2

1

1

3

4

3

3

2,85

150.000

3

2

2

2

5

5

1

3,05

375.000

3

2

3

3

4

5

3

3,25

314,582

3 3 The Breeze Pusat Belanja yang 2 3 direncanakan Sumber : Colliers International Indonesia — Advisory

163

Colliers

Proyeksi Tarif Sewa

IN T E;>r: A.1 1c_,

L

1111■1111111111•1111

Dalam menentukan analisa posisioning, Konsultan akan menerapkan beberapa asumsi dari gedung ritel yang direncanakan, sebagai berikut:  Gedung ritel yang dibangun memiliki luas sewa adalah 15.000 meter2  Gedung ritel yang dibangun akan memiliki bauran pasar antara 9 dan 11 bauran.  Gedung ritel yang dibangun akan memiliki pengunjung 15.000 orang per hari.  Gedung ritel yang dibangun akan memiliki desain yang menarik. Dengan menggunakan asumsi diatas, gedung ritel yang akan dibangun memiliki jumlah skor sebesar 3.25; harga sewa yang paling sesuai adalah Rp 315.000 per meter 2 per bulan. Diperkirakan tarif transaksi adalah 15 persen lebih rendah dibandingkan tarif penawaran, sehingga tarif transaksi sekitar Rp 267.000 per meter 2 per bulan atau dibulatkan menjadi Rp 270.000 per meter2 per bulan.

•

600,000

_____ y =

500,000 400,000

260972x - 533577 R2 = 0.8165  •

•

300,000 200,000

• 100,000

0.50

1.00

 yang direncanakan Sumber : Colliers International Indonesia — Advisory

1.50

2.00

2.50

3.00

3.50

4.00

Pusat Belanja Pesaing dan Pembanding

4.50 Pusat Belanja

164

Analisis flomersia Apartemen

Batasan Analisis Dengan mempertimbangkan:  Terbatasnya pasokan ruko di Jatinangor  Konsep pengembangan di atas lahan Properti sebagai pembangunan komersial terpadu, yang didominasi oleh hunian vertikal (apartemen) Maka, analisis ini akan difokuskan pada ruko atau kios atau toko yang dibangun sebagai bagian dari penunjang fasilitas apartemen dengan kriteria: Lokasi a. Ruko / Kios / Toko yang dikembangkan sebagai bagian dari pengembangan apartemen pesaing b. Ruko / Kios / Toko yang dikembangkan sebagai bagian dari apartemen yang berjarak 'I — 2 km dari pusat pendidikan ternama seperti ITB, UNPAD, dan UNPAR di Kota Bandung Skema Pemasaran Ruko / Kios / Toko dalam tahap pemasaran, di jual dan atau di sewa. Dengan menerapkan kriteria diatas, maka konsultan menemukan 6 ruko/toko yang masih dipasarkan

Daftar Komersil No

1

Nama Proyek

Colliers INTERNATIONAL

Nama pengembang

Tahun Operasi

Tipe Komersial

Skema Pemasaran

Jumlah unit

Tahap Pemasaran 1

everly Dago

Istana Group

2013

Kios

Jual

5

2

he Jarrdin Cihampelas

Kagum Karya Husada

2014

Kios

Jual

36

3

ston Park Residence

Kalmarland

2015

4

aman Melati Jatinangor

Adhi Persada Properti

2016

Kios

Jual

12

5

arahyangan Residence

Agung Podomoro

2016

Kios

Sewa

13

Istana Group

2017

Kios

Sewa

34

Ryland

2016

Kios

20

Multikarya Land

2018

Kios

Jual . _. .. Sewa

6

aleri Ciumbuleuit 3

...... Ruko ........ Kios

Jual Sewa

.................. 2 15

Tahap Perencanaan 1

Skyland Tower A

2

Bandung Technoplex

30

Sumber: Colliers International Indonesia — Advisory 

Terdapat enam proyek pesaing yang sudah dipasarkan, dan dua proyek masih dalam tahap perencanaan atau belum dipasarkan.



Hampir seluruh proyek berbentuk kios yang dikembangkan sebagai fasilitas penunjang apartemen. Hanya Easton Park yang memasarkan kios dan ruko.



Kios dipasarkan dengan skema jual atau sewa, sedangkan ruko dipasarkan dengan skema jual.

168

Jumlah Unit Komersial

Colliers IN F. ttr,,...4,1. rc.rr

 Satu-satunya ruko yang ditawarkan hanya dibangun dengan unit terbatas, kurang dari lima unit  Sedangkan tipe kios, yang sudah dipasarkan. disediakan dengan kelompok unit sebagai berikut: Jumlah unit < 10 unit : 1 proyek (Beverly Dago) Jumlah unit 10 — 20 unit : 3 proyek (Easton Park Residence, Taman Melati Jatinangor, dan Parayangan Residence) Jumlah unit > 20 unit : 2 proyek (The Jardin Cihampelas dan Galeri Ciumbeleuit 3)  Dua kios, dalam tahap perencanaan, disediakan dengan unit lebih dari 20. Sumber: Colliers International Indonesia — Advisory

Colliers

Konfigurasi Unit No

1 1 2 3

Nama Proyek

INTERNATIONAL

Tinggi Bangunan

Jumlah unit

Ruko Easton Park Residence Kios Jual Beverly Dago The Jarrdin Cihampelas Taman Melati Jatinangor

4

2

5 36 12

1 1 1

Kios Sewa

Dimensi Luas Luas Tanah Luas Bangunan Bangunan (meter x (meter)) (meter) meter) 2 5 0

360

12 x 15

.................... .. -

18,8 - 33,9 16 - 20 11,82 - 94

4 x 4 s/d 4 x 5 3 x 4 s/d 8 x 12

................. ... . -

15 - 35

3 x 4 s/d 5 x 7

-

1

Easton Park Residence

15

1

2

Parahyangan Residence ....

13

1

-

28,8 - 106,69

-

3

Galeri Ciumbuleuit 3

34

1

-

mulai dari 40 m2

-

Sumber: Colliers International Indonesia — Advisory



Ruko di Easton park dibangun sebagai ruko 2 lantai, dengan luas tanah 250 m 2 dan luas bangunan 360 m 2 .



Kios jual dibangun dengan luas 12 — 18 m 2 , sementara kios sewa dibangun dengan luas 15 — 40 m 2

 Pada umumnya lebar muka kios adalah 3 — 5 meter, dengan panjang kios beragam mulai dari 4 meter sampai 5 meter

Colliers N-E

Kinerja Unit Komersil

r %!,

RUKO Ruko

100%

90%

Tingkat penjualan ruko Easton Park mencapai 50% (sisa 1 unit dari 2 unit) dengan harga jual tanah sebesar Rp15,68 juta/m2 (estimasi harga 2 bangunan ruko Rp 3 juta/m )

80% _ Ruko Easton Park Residence

Tingkat Penjualan

70% — 60% ___ 50% — 40% 30% _ 20% – 10% — 0% Rp-

Rp5

ROD

 Ruko Easton Park Sumber: Colliers International Indonesia – Advisory

Rp15

Rp20 Juta

Colliers

Kinerja Unit Komersil

11111•111•111111

KIOS JUAL Kios Jual Kinerja tertinggi di capai oleh Beverly Dago, yang telah mencapai tingkat penjualan 80%, dengan harga jual Rp 25 juta per meter

100%

Beverly

90%

■

80%

Da o

Tingkat Penjualan

70%

The Jarrdin Cihampelas mencapai 50% tingkat penjualan dari 36 unit dengan harga jual Rp 26,4 Juta per meter.

60% 50%

The Jarrdin Cihampelas

40%

Sementara, Taman Melati Jatinangor mencapai tingkat penjualan sebesar 33% dengan harga jual mencapai Rp 30 juta per meter

2_

30%

Taman Melati Jatinangor

20% 10% 0% Rp-

Rp10

Rp20 Harga Jual / Meter

Rp30

Rp40 Juta

 Kios Jual

Sum ber: Colliers International Indonesia — Advisory

172

Colliers

Kinerja Unit Komersil

~PJTE

4

_

MINEMEMINIMP

KIOS SEWA 100%

Parahyangan Residence mencapai tingkat hunian 92% dengan tarif sewa Rp 200.000/m2/bulan, meskipun unit masih belum diluncurkan.

Parahyangan Residence

90% 80% 70%

Untuk unit yang telah beroperasi, kios Easton Park Residence memiliki tingkat hunian 47% dengan tarif sewa mencapai Rp208.000/m2/bulan.

Tingkat Sewa

60% 50%

Easton Park Residence

40%

Sedangkan, Galeri Ciumbeuleuit 3 baru saja melakukan pra-pemasaran di bulan Februari 2016 dengan estimasi tarif sewa Rp 150.000/m2/bulan.

30% 20% 10%

Galeri Ciumbeuleuit 3

0% Rp-

Rp100

Rp200

Rp300

Rp400

Rp500 Ribu

Harga Sewa per meter2 per bulan Sumber: Colliers International Indonesia — Advisory

Colliers

Bauran Pasar Komersil Keuangan, Persewaan dan Jasa Perusahaan

ird?EPTg

IC,NAL

Transportasi dan _Komunikasi 3%

Perdagangandan Restoran 68`Yo

Sumber: Colliers International Indonesia — Advisory

Bauran pasar komersil didominasi oleh:   

Sektor Perdagangan dan Restoran (68%) seperti minimarket, drugstore, restoran, dan café Jasa-jasa (26%), seperti laundry, salon dan Keuangan & jasa perusahaan (3%) serta Transportasi dan Komunikasi (3%), misalnya agen properti dan perjalanan.

.00

Rasio Unit Apartemen dengan Komersial No

1 2 3

Nama Komersil

Jumlah unit apartment

Jumlah unit komersil

Ruko !Easton Park Residence Kios Jual everly Dago e Jarrdin Cihampelas aman Melati Jatinangor Rata-rata Kios Sewa Easton Park Residence Parahyangan Residence Gated Ciumbuleuit 3 Rata-Rata

4 5 36 12

INTERNATIONAL

Rasio Unit Apartemen : Unit Komersil

1

14001

350 ...........

1

390J 2 75

78 68 63 70

1400 1496 599

93 115 18 75

1 5 1 3 3 4

Colliers

Sum ber: Colliers International Indonesia — Advisory Berdasarkan hasil survey lapangan ditemukan kondisi seperti berikut: 1. 2.

Belum terdapat komplek ruko di daerah Jatinangor dan berdasarkan apartemen kompetitor tidak terdapat apartemen yang didukung oleh komplek ruko Komersial penunjang apartemen adalah kios

Dengan kondisi tersebut, maka jenis komersil yang akan dipilih adalah kios dengan rasio unit apartemen : unit komersil adalah 1:70 untuk kios jual dan 1:75 untuk kios sewa

175

Perbandingan Rasio Unit Apartemen dengan Komersil

Colliers I NT E R NAT I O NA L

WININI■ 1■ 11 9

PERHITUNGAN KEBUTUHAN UNIT KOMERSIL Keterangan

Rata-rata Rasio Unit Apartemen : Unit Ruko

Jumlah unit Proyek

_......... ........

Jumlah (Unit) 700


70

10

Ki os Sewa

75

9

tKisaran Kebutuhan Unit Ruko

9 - 10 uniil

Sumber: Colliers International Indonesia — Advisory

Dengan menggunakan rasio diatas maka dapat diestimasikan bahwa kebutuhan unit komersil di proyek yang akan dibangun: untuk 700 unit apartemen adalah adalah 9 — 10 unit.

176

Kriteria Skoring Perhitungan Kios Jual

Colliers 11111=11111111•11111M1

TABEL KRITERIA SKORING KIOS JUAL Jumlah Unit Apartemen 25%

Poin

Pengembang

Usia Apartemen

Bobot

20%

25%

Developer reputabel pada skala nasional Developer dengan pengalaman membangun gedung yang cukup dikenal di Jatinangor atau daerah Iainnya Developer baru atau sedikit pengalaman

Dalam tahap perencanaan

>1.000 unit

< 10 unit

> 30 m2

1 - 3 tahun

500 - 1000

10 - 15 unit

15 - 30 m2

> 3 tahun

<500 unit

>15

< 15 m2

5

3

1

Jumlah Unit Kios 15%

Luas Kios Terkecil 1 5 %

Sumber: Colliers International Indonesia — Advisory

Berikut merupakan asumsi yang digunakan konsultan dalam menentukan harga bagi kios jual pendukung apartemen: 1.

Pengembang merupakan pengembang baru atau sedikit pengalaman

2.

Usia Apartemen adalah < 1 tahun atau 0 tahun / Dalam tahap perencanaan

3.

Jumlah unit apartemen yang didukung direncanakan 500-1.000 unit (700 unit)

4.

Jumlah unit kios yang direkomendasikan adalah 10-15 unit

5.

Luas unit kios terkecil adalah 15 meter persegi.

177

Colliers

Hasil Analisis Skoring Kios Jual

iNTEPNAUOMAL

TABEL ANALISIS SKORING KIOS JUAL Jumlah Unit Jumlah Unit Apartemen Kios 30% 10%

Luas Kios Terkecil 15%

100%

5

3

2,8

Rp 25.000.000

5

1

3

2,8

Rp 26.441.407

5

3

3

1

3,2

Rp 30.088.283

5

3

3

3

3,1

Rp 28.996.388

Nama apartemen

Pengembang

Bobot

15%

Usia Apartemen 30%

Beverly Dago

3

3

1

The Jarrdin Cihampelas

1

3

Taman Melati Jatinangor

3

Proposed Project

1

Poin

Harga jual

Sumber: Colliers International Indonesia — Advisory

DIAGRAM POSITIONING KIOS JUAL Berdasarkan analisis tersebut, dengan skor mencapai 3,1 kios yang akan dibangun memiliki harga jual sebesar Rp28.996.388,- per meter2.

Rp45 Rp40

y = 10,918,948.53x - 4.852,352.50 R2 = 0.92

Harga Jual per Meter

Rp35 Rp30 Rp25 Rp20 Rp15 Rp 10 Rp5 Rp-

0

1

2

 Kompetitor •Properti

3

4

5 178

Colliers

Kriteria Skoring Perhitungan Kios Sewa TABEL KRITERIA SKORING KIOS SEWA Poin

Pengembang

Tingkat Sewa Kios

Bobot

15%

25%

Jumlah Unit Apartemen 20%

>80%

5

3

1

Developer reputabel pada skala nasional Developer dengan pengalaman membangun gedung yang cukup dikenal di Jatinangor atau daerah lainnya Developer baru atau sedikit pengalaman

Jumlah Unit Kios

Luas Kios Terkecil

20%

20%

>1.000 unit

< 10 unit

< 15 m2

50 — 80%

500 - 1000

10 - 15 unit

15 - 30 m2

< 50%

<500 unit

>15

> 30 m2

Sumber: Colliers International Indonesia — Advisory

Berikut merupakan asumsi yang digunakan konsultan dalam menentukan harga bagi kios jual pendukung apartemen: 1.

Pengembang merupakan pengembang baru atau sedikit pengalaman

2.

Asumsi tingkat sewa kios antara 50 — 80%

3.

Jumlah unit apartemen yang didukung direncanakan 500-1.000 unit (700 unit)

4.

Jumlah unit kios yang direkomendasikan adalah 10-15 unit

5.

Luas unit kios terkecil adalah 20 - 30 meter persegi.

179

Colliers

Hasil Analisis Skoring Kios Sewa TABEL ANALISIS SKORING KIOS SEWA Nama apartemen

Pengembang

Bobot

15%

Tingkat Sewa Jumlah Unit Jumlah Unit Kios Apartemen Kios 25% 20% 20%

Luas Kios Terkecil 20%

100%

Poin

Harga jual

Easton Park Residence

1

3

5

3

3

3,1

Rp 208.000

Parahyangan Residence

5

5

5

3

3

4,2

Rp 200.000

Galeri Ciumbuleuit 3

3

1

3

1

1

1,7

Rp 150.000

Proyek

1

5

3

3

3

3,2

Rp 190.1911

Sumber: Colliers International Indonesia — Advisory

DIAGRAM POSITIONING KIOS SEWA Berdasarkan analisis tersebut, dengan skor mencapai 3,21 kios sewa yang akan dibangun akan menerapkan tarif sewa Rp190.191/m2/bulan

Harga Sewa per Meter per Bulan

Rp250,000 Rp200,000

y= 20,955.41x + 123,133.76 R2=0.70

Rp150,000 Rp100,000 Rp50,000

Rp ___ 0

1

2

3

4

5

 Kompetitor • Properti

180

Batasan Teknis Sebelumnya Skyland telah melakukan proses perijinan untuk pengembangan kawasan dengan luas 4,5 Ha dengan Perijinan Nomor 503.IP/013-BPMPP/2011, namun pada tahun 2012 terdapat Perda Kab. Sumedang Nomor 12 tahun 2012 tentang Rencana Tata Bangunan dan Lingkungan Kawasan Strategis Provinsi Pendidikan Jatinangor yang mengatur batasan ketinggian bangunan menjadi 12 Iantai, namun selanjutnya telah dilakukan revisi dan menjadi Perbup Sumedang nomor 92 tahun 2015 (yang kemudian digunakan sebagai basis perencanaan) Konsultan menghitung batasan teknis berdasarkan 2 alternatif yaitu 1. 2.

Atas lahan yang telah menjadi milik PT. Adhiloka Atas keseluruhan lahan perencanaan (termasuk yang masih belum dimiliki oleh PT. Adhiloka)

Alternatif 1 - Atas lahan yang telah menjadi milik PT. Adhiloka

Berdasarkan Peraturan

Zona

Luas Tanah (m2)

KDB (%)

Lantai Dasar Bangunan (ma)

KLB*

Luas Lantai Batasan Bangunan ketinggian (m2) Bangunan (Iantai)

;Ierdasarkan Perijinan Nomor 27.000 45.000 60% 23 Campuran 03.1P/013-BPMPP/2011 Berdasarkan Perda Kab. Campuran 45,000 50% 22.500 6 270.000 12 Sumedang Nomor 12 Tahun 2 0 1 2 disesuaikan erdasarkan Perbup 60% 27.000 4 180.000 45,000 Campuran dengan kondisi umedang Nomor 92 Tahun lahan* 015 *berdasarkan kondisi eksisting bangunan saat ini maka dapat diasumsikan batasan ketinggian bangunan adalah 23 Iantai.

A

Batasan Teknis Alternatif 2 - Atas keseluruhan lahan perencanaan (termasuk yang masih belum dimiliki PT. Adhiloka

Berdasarkan Peraturan

Berdasarkan Perijinan Nomor 503.1P/013-BPMPP/2011 Berdasarkan Perda Kab. Sumedang Nomor 12 Tahun 2012 Berdasarkan Perbup Sumedang Nomor 92 Tahun 2015

KDB (%)

Lantai Dasar Bangunan (m2)

KLB*

67,000

60%

40,200

-

-

23

Campuran

67,000

50%

33,500

6

402,000

12

Campuran

67,000

60%

40,200

4

268,000

Zona

Luas Tanah (m2)

Campuran

Luas Lantai Batasan ketinggian Bangunan Bangunan (lantai) (m2)

disesuaikan dengan kondisi lahan*

*berdasarkan kondisi eksisting bangunan saat ini maka dapat diasumsikan batasan ketinggian bangunan adalah 23 lantai.

Atas permintaan klien, konsep yang akan diajukan berjumlah 2, konsep alternatif 1 menggunakan lahan yang saat ini sudah sepenuhnya dimiliki klien dan alternatif 2 menggunakan lahan yang dimiliki ditambah dengan luas lahan yang konsultan sarankan. Aturan yang digunakan dalam rekomendasi konsep ini adalah peraturan atas keseluruhan lahan perencanaan berdasar Perbup Sumedang No. 92 Tahun 2015.

,0

Batasan Teknis KKOP (Kawasan Keselamatan Operasional Penerbangan)

-

_---

.

,.

----I f

40

40" _

-:::_4640017 fr__ ,. .

1

. Mu / / \ \

'

\ \

I,

Karena Properti terletak 21,7 kilometer dari Bandara Husein Sastranegara, maka Properti terletak dalam zona Permukaan Pendekatan dan Lepas Landas maka batas ketinggian bangunan maksimal adalah Iebih dari 150 meter. Akan tetapi, karena Pemerintah telah menetapkan batasan ketinggian, maka ketentuan KKOP ini menjadi tidak relevan.

\

--"--

Batas Tinggi Maks (m)

Zona KKOP

Radius (m)

Permukaan Horizontal Dalam Permukaan Kerucut

< 4.000

45

4.000— 6.000

45—150

6.000— 15.000

150

i Permukaan Horizontal Luar Permukaan Pendekatan dan Lepas Landas

>15.000

>150

Rekomendasi Pengembangan- Alternatif 1 LAHAN YANG DIMILIKI KLIEN Lahan yang dimiliki klien adalah yang ditandai dengan warna biru. Berdasarkan studi pengukuranlahan menggunakan software Sketchup, berikut adalah data eksisting lahan: Komponen Luas lahan yang dimiliki

Sumber: Klien dan Colliers International Indonesia - Advisory

Luas (m2) 45.000

Luas lantai dasar condotel

3.200

Luas area condotel

8.600.

Colliers f l%

1Rekomendasi Pengembangan- Alternatif 1

Colliers UMMIIMIMO

KOMPONEN YANG AKAN DI KEMBANGKAN DI DALAM PROPERTI Komponen A p a r t e m e n Retail Center Ruko

Segmen pasar Menengah ....... Lifestyle -

Jumlah Th. Operasi 1.408 U n i t 2020, 2022 .......... 4 . 9 7 5 meter2 NLA 2 0 1 8 2019 6 Unit

Sumber: Colliers International Indonesia - Advisory

Pada Alternatif 1, berdasarkan pasar, kompetisi, analisis pasar, dan potensi pengembangan Properti, apartemen yang diusulkan berjumlah 1.408 unit terdiri dari 2 tower. Sedangkan untuk Retail Center memiliki luas 4.975 m2 NLA. Ruko yang diusulkan berjumlah 6 unit.

Rekomendasi Pengembangan- Alternatif 1

Colliers INTERNATIONAL

LIFESTYLE RETAIL CENTER KONFIGURASI Lantai

Fungsi FnB Specialty Supermarket FnB FnB

2

3

Gym Student lounge Total area (m2)

Tinggi (m)

NLA (m2)

GFA (m2)

5 5

5 4,975

6,468

Sumber: Colliers International Indonesia - Advisory

Berdasarkan studi bentuk lahan yang dilakukan Konsultan, luasan Retail Center yang diusulkan dipengaruhi oleh faktor lokasi, yaitu Retail Center sebaiknya terletak di depan karena memerlukan visibilitas yang besar. Faktor kedua adalah bentuk lahan yang menyempit, sehingga membatasi luasan yang dapat digunakan sebagai Retail Center karena akses ke dalam lahan harus tetap berlanjut. Presentase fungsi retail center dijelaskan dalam tabel berikut: Fungsi Supermarket Specialty F n B

Gvm

% 20% 25% 50% 5%

Sumber: Colliers International Indonesia - Advisory 187

Rekomendasi Pengembangan- Alternatif 1

Colliers INTERNATIONAL

LIFESTYLE RETAIL CENTER PARKIR_ Fungsi Lifestyle center

Luas

Rasio

4,975 m2 NLA

Jumlah lot parkir (m2)

1:100

Luas area parkir (m2) 50

1,50C

Sumber: Colliers International Indonesia - Advisory

Rasio parkir yang diusulkan adalah 1:100 meter 2 NLA sehingga jumlah unit parkir untuk retail center yang diusulkan untuk disediakan di dalam properti adalah sebanyak 50 unit parkir yang letaknya dijelaska n dalam tabel berikut: Letak Parkir L a n t a i Lantai 2 Surface Total

Rasio

3 30

Jumlah lot parkir (m2)

Luas area parkir (m2) 31

930.00

9

270

10 50

300 1,500

188

Colliers

Rekomendasi Pengembangan- Alternatif 1

INTERNATIONAL

APARTEMEN KELAS MENENGAH KONFIGURASI (1 TOWER) kuran unit

Komponen U n i S t u d i o 1-Kamar Tidur

NLA (m2) t

21.6 31.5

SGA (m2) 24

35 45

GFA (m2)

Jumlah unit

26.67 38.89

50 2-Kamar Tidur 40.5 ...................................... Subtotal unit (1 tower) Fasilitas indoor 212.51 277.78 2501 Lobby .................... 161 18. 20. Kios 4x4 ................ 2 25.56 231 Kios 4x5 ................ 251 31.9 28.751 Kios 5x5 ................. 166.6 127.51 1501 G y m 166.6 C a f é 127.51................. 1501 2551 333.33 Ruang bersama 3001 42.5 501 55.5 Ruang manajemen ............................ Subtotal fasilitas indoor ........ Fasilitas outdoor Koiam renang ......... 200 Subtotal fasilitas outdoor Total_area kacuali fasilitas outdoor loll__ . Sum ber: Colliers International Indonesia - Advisory

484 110

Total a r e a Total SGA (m2)

Total 0/0

GFA (m2)

11, 616 3,850

12,908.28 4,277.90 5,500.00 22,686.18

110

4,950

704

20, 416

16

250 73.6 92 57.5 150 300 300 50 1,273

94.13%

277.78 81.76 102.24 63.88 5.87% 166.67 333.34 333.33 55.56

1, 414. 56 200 200

9 8 ,6 1 2

.7 0 ,1 4 2

100%

Konsultan merekomendasikan untuk membangun apartemen dua tower, masing-masing 704 unit, yang dibangun dalam dua tahap. Konfigurasi unit terdiri dari studio, 1-kamar tidur, dan 2- kamar tidur. Setiap tower dilengk dengan fasilitas café, kios, dan pusat kebugaran.

189

Rekomendasi Pengembangan- Alternatif 1

Colliers

APARTEMEN KELAS MENENGAH PARKIR (1 TOWER) Komponen

Tipe unit Studio 1Kamar Tidur Kamar Tidur

Rasio

St

andardn ot (m2)

Jumlah unit Unit parkir GFA Parkir (m )

48 242 7,260 30 Apartemen 24 55 1,650 1 parkir : 1 unit 3,300 11 110 2 0 407 (m ) Total area parkir 12,210 11 Sumber: Colliers International Indonesia - Advisory 0 Jumlah unit parkir yang diusulkan untuk disediakan untuk setiap tower adalah 407 unit 70 parkir. Rasio parkir untuk apartemen adalah: 1:2 unit untuk tipe studio dan tipe 1-KT, sedangkan untuk 2-KT adalah 1:1 unit. Secara 4 keseluruhan untuk dua tower apartemen yang memiliki konfigurasi identik, jumlah parkir yang tersedia adalah 814 lot parkir. 1 parkir: 2 unit

190

Colliers

Rekomendasi Pengembangan- Alternatif 1

INTE RNAT:O NAL

APARTEMEN KELAS MENENGAH DETAIL PENGEMBANGAN (1 TOWER) Lantai

Unit tudio

23

1 KT

KT tudio

22

21

20

1KT

16

15

35 38.89

40.5 31.5

KT

40.5

tudio

21.6

45 50 24 26.67 35 38.89

31.5

50 45 24 26.67 35 38.89

40.5 21.6

45 50 24 26.67

1KT

31.5

KT

40.5

35 38.89 50 45

&to 1KT

21.6 31.5

24 26.67 35 38.89

KT

40.5

45 50 24 26.67 35 38.89 45 50

1KT

 tudio

17

31.5 21.6

tudio

18

50 45 24 26.67

ludo 1 KT

GFA Tinggi , (m2) (rm 26.67 38.89 3

40.5 21.6

KT

KT ~ 19

SGA NLA (m2) (m2) 21.6 24 31.5 35

KT

21.6 31.5 40.5

tudio

21.6

KT

31.5

KT tudio

40.5

1 KT

1KT

KT

21.6

31.5 40.5

3

Jumlah

NLA

SGA GFA

22 5

475.2 157.5

528 586.74 175 194.45

5 22

202.5 4752

225 250 528 586.74

5

157.5

175194.45'

5

202.5

225

250

22

4752 157.5

528 586.74 175 194.45

3

5 5

202.5

225

3

22 5

475.2 157.5

528 586.74 175 194.45

5 22

202.5 475.2

225 250 528 586.74

5

5

157.5 202.5

175 194.45 225 250

22

475.2

528 586.74 175 194.45

3

3

3

5

157.5

5 22

202.5 475.2 157.5 202.5 475.2

5

5 22

24 26.67 35 38.89 50 45

3

24 26.67 35 38.89 45 50

3

5 5 22

157.5 202.5 475.2

5 5

157.5 202.5

Sum ber: Colliers International Indonesia - Advisory

225

Lantai

Studio 14

13

12

250

11

10

528586.74 175 194.45 225 250 528 586.74 175 194.45 225 250

31.5

35

38.89

40.5

Studio

21.6

45 24

50 26.67

1KT

35 45

Studio

21.6

24

38.89 50 26.67

3

2KT

31.5 40.5

1KT

31.5

35

3

2KT 1KT

40.5 21.6 31.5

45 24 35

38.89 50 26.67 38.89

3

2KT

40.5

45

Studio

21.6 31.5

24

3

1KT

1KT

175

194.45

202.5

22

475.2

225 528

250 586.74

5

157.5 202.5 475.2

175

5 22

225 528

194.45 250 586.74

5

157.5

5

202.5

22

5

4752 157.5

175 225 528 175

194.45 25C 586.74 194.45

50

5

202.5

225

26.67 38.89

22 5

475.2 157.5

528 175

25Q 586.74

5

202.5 475.2

250 586.74

50 26.67 38.89

Studio

45 24 35 45 24

50 26.67 38.89 50 26.67

1KT

31.5

35 45

38.89 50

1KT

2KT

.............. 2KT

40.5

3

50 26.67 38.89

2KT Studio

6

157.5

45 24 35

1KT

22

NLA SGA (m2) GFA (m2I MP( 475.2 528 586.74

5

35

Studio

7

40.5 21.6 31.5

35 45 24

Jumlah 5

40.5 21.6 31.5 40.5 21.6 31.5 40.5 21.6

2KT 8

Tinggi (m)A 26.67

rot

2KT

Studio

9

NLA SGA .("12) (P12) 21.6 24

1KT

Studio

250

528,586.74 175 194.45 225 250

Unit

5

157.5

5

202.5 475.2 157.5 202.5

225 528 175 225

250 586.74 194.45 250

475.2 157.5

528 175

586.74 194.45

202.5 475.2

225 528

250 586.

157.5 202.5

175

22

3

22

3

5

5 22

3

5 5 22

3

194.45

225 528 175

5 5

194.45

Rekomendasi Pengembangan- Alternatif 1

C olieT rsIONAL NTEPN A

APARTEMEN KELAS MENENGAH (1 TOWER Lantai

Unit Studio

5

1 K T 2 K T Studio

4

3

2

11(1'

31.5

50

5 22

2 K T

40.5

Studio

21.6

24

26.67

1 K T

31.5

35

38.89

2 K T

40.5

45

Studio

24

1 K T

21.6 31.5

2 K T

40.5

Lobby

35

212.5

45 250

16

18.4

5

38.89

35 45

Kios 4x4

1

NLA (ra) SGA (m2) GFA(m2) Tinggi Jumlah NLA (m2) SGA (m2) GFA (m2) 22 528 586.74 475.2 21.6 24 26.67 38.89 3 5 194.45 175 31.5 35 157.5 50 225 250 40.5 45 5 202.5 528 586.74 22 24 21.6 26.67 475.2 3

3

5

50

5

26.67 38.89

3

22 5

50

157.5 202.5

175 225

475.2 157.5

528 175,

202.5 475.2 157.5

225 528 175

202.5

225 250

277.78

73.6 92

81.76 102.24

57.5 15l 300

63.88 166.67 333.34

277.78

5 1

212.5

20.44

4

64

194.45 2511 586.74 194.45 250 586.74 194.45 250

Kios 4x5

20

23

25.56

4

Kios 5x5

25

28.75

31.94

2

G y m

127.5

150

166.67

Café

127.5

150

166.67

2

80 50 127.5 255

42.5

50

55.56

1

42.5

50

55.56

255

300

333.33

1

255

300

333.33

200-

1-

Ruang

manajem en.............................

Ruang

bersama

Kolam

-

.... renang ............. Tinggi bangunan

5

1

200

-

71

Subtotal luas kamar Subtotal fasilitas indoor Subtotal fasilitas outdoor

Total luas bangunan (kecuali fasilitas outdoor) Sumber: Colliers International Indonesia - Advisory

20,416.013„. 22,686.18

70418 ................... 37440 161,086.50

119,460.90

1,273.10 p1.689_10

1,414.56

200.00 24,100.74

192

Colliers

Rekomendasi Pengembangan- Alternatif 1

NTENNATIONAL

RUKO KONFIGURASI UNIT Luas Tipe 5x15

Luas tanah (m ) bangunan (m2) 5 7 5 7 2

Sumber: Colliers International Indonesia -

Jumlah

lantai 2

A/unit

GF

150

Tinggi (m)

Jumlah unit

7

6

GFA

(m2) 900

Advisory

PARKIR Tipe

Rasio

Jumlah unit ruko

Jumlah lot parkir

Ruko

2 parkir: 1 unit

6

12

Sumber: Colliers International Indonesia -

Luas area parkir 360

Advisory

Jalan yang lebar dan menjadi penghubung antara area komersial dan area residensial menciptakan potensi pengembangan Ruko dalam Properti. Dengan pertimbangan bentuk lahan, untuk alternatif 1 Konsultan merekomendasikan untuk membangun ruko sejumlah 6 unit. Unit ruko memiliki luas lahan dan luas bangunan 5x15 dengan jumlah lantai 2. Untuk parkir, rasio yang diusulkan adalah 1:2 unit, sehingga total lot parkir yang disediakan untuk ruko adalah 12 unit.

Rekomendasi Pengembangan-Alternatif 1

Colliers I N T E R N AT I O N A L

ASILITAS PARKIR LOT PARKIR Letak L a n t a i 9 Lantai 8 La n t a i 7 L a n t a i 6 L a n t a i 5 L a n t a i 4 L a n t a i 3 L a n t a i 2 L a n t a i 1 Permukaan Total Letak L a n t a i 9 L a n t a i 8 L a n t a i 7 L a n t a i 6 La nta i 5 Lantai 4 ..antai 3 L a n t a i 2 L a n t a i 1 Permukaan Total

Retail

Apartemen 1

Apartemen 2

Ruko 29 29 ........... 36 ............ 36 36 ............ 36 36 36 ........... 54 54 ........... 54 54 ........................................ 54 54 ........... 31 9 54 54 .......... 54 54 ............ 12 ............ ................................. 10 ..................................... , 12 50 407 407 Retail Apartemen 1 Apartemen 2 Ruko 870 1,080 1,080

870 .......... 1,080 ...... 1,080 ...... 1,080 ....... 1,620 ....... 1,620 ...... 1,620 ......

1,080....... 1,620 1,620 930 1,620 270 .......... _ 1,620 1,620 300 .......................... 12,210 11500

1,620

_

.... ...._...._ 1,620 ...... 360 ..........

12,210

360

Total unit 58 72 72 72 108 108 139 117 108 22 876 Total luas (m2) 1,740 2,160 2,160 2,160 3,240 3,240 4,170 3,510 3,240 660 26,28A

Sumber: Colliers International Indonesia - Advisory

194

Rekomendasi Pengembangan- Alternatif 2 LAHAN YANG DIMILIKI KLIEN Lahan yang dimiliki klien adalah yang ditandai dengan warna biru. Berdasarkan studi bentuk dan pengukuran lahan menggunakan software Sketchup, berikut adalah data lahan: Komponen Luas lahan yang dim iliki

Luas m 2 45.000,0

Luas lanta dasar condotel bas area condotelLuas tanah yang diusulkan ditambah Luas akses kedua

3.200,0 8.60 8.244, 60

Lahan yang diusulkan untuk ditambahkan menjadi bagian dari Properti adalah seluas 8.244,88 m2. Hal ini dilakukan dengan catatan Properti juga mendapatkan akses kedua yang ditandai dengan warna merah muda. Penambahan akses dilakukan untuk memisahkan akses untuk residensial dan komersial. Luas total lahan menjadi 53.844,88 m2. Sumber: Klien dan Colliers International Indonesia -Advisory

Colliers NTE r ,N.MIONA

Rekomendasi Pengembangan- Alternatif 2

Colliers N E N 4T:ON

KOMPONEN YANG AKAN DI KEMBANGKAN DI DALAM PROPERTI Komponen A p a r t e m e n Retail Center Ruko

Segmen pasar Menengah Lifestyle

Jumlah 1.408 U n i t 15.000 meter2 NLA 10 Unit

Th. Operasi 2020, 2022.... 2 0 1 9 2019

Sumber: Colliers International Indonesia - Advisory

Dibandingkan Alternatif 1, perbedaan konsep di Alternatif 2 adalah:  

Ritel yang akan dibangun lebih besar, dengan NLA 15.000 meter 2 Ruko yang akan dibangun lebih banyak, 10 unit

196

Rekomendasi Pengembangan- Alternatif 2

Colliers NT ER NAT IO NAL

IMMIM=111■ 1

LIFESTYLE RETAIL CENTER KONFIGURASI Lantai

Fungsi F n B Specialty S u p e r m a r k e t F n B Specialty F n B G y m

1 2

NLA (m z)

GFA (m 3.000 2.000 3.000 1.000 1.000 2.750 750

3.900 2.600 3.900 1.300 1.300 3.575 975

750

975

3 Student

lounge

Sum ber: Colliers International Indonesia - Advisory

Dengan luasan lebih besar dan bentuk lebih teratur, maka ritel ini dapat dikembangkan dengan ukuran lebih besar, yaitu 15.000 meter2 Rasio konfigurasi untuk rite) ini adalah sebagai berikut: Fungsi Supermarket Specialty............. F n B Gym

% 20% 25% 50% 5%

Sumber: Colliers International Indonesia - Advisory

I 0 I II 197

Rekomendasi Pengembangan- Alternatif 2

Colliers I NT E R NAT I O NA L

IMINE111111MP

LIFESTYLE RETAIL CENTER PARKIR_ Fungsi

Luas

Rasio

Jumlah lot parkir (m2)

15,000 m2 NLA 1:100

Lifestyle retail center

Luas area parkir (m2)

150

4,500

Sumber: Colliers International Indonesia - Advisory

Rasio parkir yang diusulkan adalah 1:100 meter2 NLA sehingga jumlah unit parkir untuk retail center yang diusulkan untuk disediakan di dalam properti adalah sebanyak 150 unit parkir yang letaknya dijelaskan dalam tabel berikut:

Rasio

Letak Parkir Lantai 5 L

a

n

t

a

i

4

L

a

n

t

a

i

3

L

a

n

t

a

i

2

Lantai 1 Total

30 m2

Jumlah lot parkir ._ (m2) 30 9 0 0

Luas area parkir (m2)

30

900

30

900

30

900

30

900

150

4.500

a4400111198

Colliers

Rekomendasi Pengembangan- Alternatif 2

NTEPNATIONAL

APARTEMEN KELAS MENENGAH KONFIGURASI (1 TOWER) Ukuran Komponen

NLA (m2)

Total area

unit

SGA (m2)

GFA (m2)

n i t 21.6 24 S t u d i o 35 31.5 1-Kamar Tidur 40.5 45 2-Kamar Tidur ....................................... Subtotal unit (1 tower) Fasilitas indoor Lobby ...................... 212.5 250 18 161 K i o s 4 x 4 2 231 K i o s 4 x 5 2 K i o s 5 x 5 28.751 127.51 G y m 1501 127.51 15 C a f é 3001 25 Ruang bersama Ruang manajemen 42.5 501 ............................................ Subtotal fasilitas indoor Fasilitas outdoor Kolam renang .......... Subtotal fasilitas outdoor Total area kecuali fasilitas outdoor (m2)

26.67 38.89 50

Jumlah unit

484 11 11 70

11,616 3,850 4,950 20, 416

16

250 73.6 92 57.5 150 300 300 50 1,273

277.7 20.4 25.56 31.9 166.6 166.6 333.33 55.5

200

Total SGA (m2)

Total GFA (m2) 12,908.28 4,277.90 5,500.00 22,686.18

94.13%

277.78 81.76 102.24 63'88 5.87% 166.67 333.34 333.33 55.56 1, 414. 56

1 1

200 200 21,689

_

24,100.74

100%

Sumber: Colliers International Indonesia - Advisory

Konsultan merekomendasikan untuk membangun apartemen dua tower identik, masing-masing 704 unit, yang dibangun dalam dua tahap. Konfigurasi unit terdiri dari studio, 1-kamar tidur, dan 2- kamar tidur. Setiap to dilengkapi dengan fasilitas café, kios, dan pusat kebugaran. 199

Rekomendasi Pengembangan- Alternatif 2

Colliers 'NTERN4110NAL

APARTEMEN KELAS MENENGAH PARKIR (1 TOWER) Komponen

Tipe unit

Rasio

Apartemen

Studio 1-Kamar Tidur ................ 2-Kamar Tidur

1 parkir: 2 unit

-1

1111lPr

1 parkir : 1 unit

_Total area parkir (m 2)

Standard/Iot(m2) Jumlah unit Unit parkir GFA Parkir (m ) 484 110

30 .

._._

110 704

242 55, 110 407

7,260 1.650 3,300 12210

Sumber: Colliers International Indonesia - Advisory

Jumlah unit parkir yang diusulkan untuk disediakan untuk setiap tower adalah 407 unit parkir. Rasio parkir untuk apartemen adalah: 1:2 unit untuk tipe studio dan tipe 1-KT, sedangkan untuk 2-KT adalah 1:1 unit. Secara keseluruhan untuk dua tower apartemen yang memiliki konfigurasi identik, jumlah parkir yang tersedia adalah 814 lot parkir.

Rekomendasi Pengembangan- Alternatif 2 APARTEMEN KELAS MENENGAH DETAIL PENGEMBANGAN (1 TOWER) Lantai 23

22

21

20

19

18

17

16

15

Unit Studio IKT

GFA Tinggi SGA NLA Jumlah (m2) (m) (m2) (m21 21.6 24 26.67 22 3 35 38.89 5 31.5

NLA

SGA GFA

475.2 157.5

528586.74 175 194.45

5

202.5

225

250

22

475.2

528 586.74

5

157.5

175 194.44 225

50 , ..........

Lantai

Unit Studio

14

NLA

SGA

GFA

21.6

24

26.67

31.5 40.5 . ..... ..... 21.6

35

38.89

45

50

24

26.67

1KT

31.5

35

38.89

1KT 2KT

2KT

40.5

45

[studio

21.6

24

26.67

1KT

31,5

35

38.89

2KT

40.5

45

50

5

202.5

250

21(1

40.5

45

Studio

21.6

24

26.67

22

475.2

528586.74

Studio

21.6

24

1KT

31.5

35

38.89

5

157.5

175 194.45

1KT

31.5

35

38.89

1

202.5

225

2KT

40.5

45

Studio

21.6

24

1KT

31.5

35

38.89'

2la ....... Studio

40.5

45

21.6

1KT 2KT

3

3

2KT

40.5

45

50

5

Studio

21.6

24 26.67

22

11( 1

31.5

35

38.89

2KT

40.5

45

50

Studio

21.6

24

26.67

1KT

31.5

35

38.89

2KT

40.5

45

50

Studio 1 KT

21.6

24 26.67

31.5

35

2KT

40.5

45

Studio 1KT

21,6

24 26.67

31.5

35

38.89

2KT

40.5

45

50

Studio

21.6

24

26.67

11CT

31.5

35

38.89

38.89

21(1

40.5

45

50

Studio

21.6

24

26.67

1KT

31.5

35

38.89

2KT

40.5

45

50

3

250

47521 157.5

5

202.5

225

475.2

528 586.74

175 194.45-

5

157.5

175 194.45

5

202.5

225

475.2

528 586.74

5

157.5

175 194.45

50 .......

5

202.5

225

3

4752

528 586.74

157.5

175 194.45

5

202.5

225

22

475.2

528 586.74

5 157.5 5 202.5 ................ ................ 22 4752

175 194.45

Sum ber Colliers International Indonesia - Advisory

5 5

157.5 202.5

9

250

5

3

10

250

22

22

11

250

3

3

12

528 586.74

5 22

3

Studio 13

225

8

250

528 586.74 175 194.45 225 250

6

3

Jumlah

NLA

SGA (m2)

FA (m2

22

475.

52

586.7

5

157.

17

194.4

5

202.

22

25

22

475

52

586.7

5

157.5

175

194.4"

50

5

202.

225

26.67

22

475.

528

586.7

5

157.5

17

184.4"

50

5

202.5

22

26.67

22

475.

528

586.7

5

157.5

175

194.4

50

5

202.5

22

24

26.67

22

475...

528

586.7

31.5

35

38.89

5

157.

175

194.4'

40.5

45

50

5

202.5

22

Studio

21.6

24

26.67

22

586.7

11(1

31.5

35

38.89

194.4

2KT

40.5

45

50

Stuck

21.6

24

26.67

1KT

31.5

35

38.89

2KT

40.5

45

50

Studio

21.6

24

26.67

31.5

35

38.89

2KT

40.5

45

50

Studio

21.6

24

26.67

1KT

31.5

35

38.89

2KT

40.5

45

50

7 7 1KT

250

Tinggi

3

3

3

3

3

3

3

475.

52

5

157."

175

5

202.

22

25

25

25

25'

22

475

528

586.7

5

157.

175

194.4

5

202.

225

25

22

475.

52:.

5 5

157.

22 3

25

202. 475.

175 -

5

157.5

5

202.

225

194.4 25 586.

17"

Rekomendasi Pengembangan- Alternatif 2

Colliers NTEPNATIONAL

APARTEMEN KELAS MENENGAH (1 TOWER Lantai

NLA(m2) 21.6SGA (m2) 24 31.5

Studio 5

1 KT Studio 1KT 2

3

Studio

175

586.74

2

24

26.67

2

35

38.89

45

50

5

24

26.67

2

35 45

38.89 50

250

40.5 21.8 31.5 212.5 16 25

K i o s 5 x 5 ...........127.5 ......... G ym

127.5

Café

42.5

Ruang

3

1,086.50

NLA (m2)

225

194.45

528

250

175(

586.74

225

475.2

194.45

528

157.5

250

175

202.5

586.74

5

225

277.7

5

475.2

250

18.4

8

1

157.5

194.45 250

73.6

277.7

23

20.44

4

92

25.56

4

475.2

8

28.75

57.5

31.94

2

157.5

8119

150

150

10224

150

166.67

1

300

63.88

50

166.67

2

50

166.67

300

manajeen ................... 255 rn -

bersama Kolam ...... renang ..................

250

5

50

2KT

Fluang

528

45

Kios 4x4 1

194.45

5 16

35

40.5

Kios 4x5

586.74

225

38.89

1KT Lobby

175

2 718,374.40

21.6

31.5

2KT

2

28.67

21.6

i

3

38.89

24

Studio

SGA (m2) ..................... 528 GFA (m2)

5

40.5

40.5

- -

26.67

45

31.5

1,273.10 .... ,.

GFA(m2) Tinggi Jurnlah225

50

K T

1 KT 2

35

1

2KT 4

20............

Tinggi

Unit

bangunan

3

3

5

4752 157.5

5

202.5

2

202.5

202.5 212.5

55.56

1

64 .. ............ 300 80

333.33

1

50 ..

200-

71

1-

Total

Subtotal Subtotal

42.5 20,416.00

fasilitas fasilitasoutdoor) outdoor (kecuali

255

" ..........

Sumber: Colliers International Indonesia - Advisory luas

333.33 200

luas

fasilitasindoor

55.56

255

kamar Subtotal

127.5

333.34

22,686.18

1

19.460,90

21.689.10

1,414.56 200.00 24,100.74

202

Colliers

Rekomendasi Pengembangan- Alternatif 2

I NT E R NAT I O NA L

11111■1•■•=11.0111111==

RUKO KONFIGURASI UNIT Tipe

Luas tanah (m2)

5x15

75

Luas b angunan (m2)

75

Jumlah lantai

GFA/unit

Tinggi (m)

Jumlah unit

GFA (m2)

2

150

7

10

1500

Sumber: Colliers International Indonesia - Advisory

PARKIR Tipe

Rasio

Jumlah unit ruko

Jumlah lot parkir

Ruko

2 parkir: 1 unit

10

20

Sum ber: Colliers International Indonesia - Advisory

Luas area parkir (m2) 600

Rekomendasi Pengembangan-Alternatif 2

Colliers INTE RNA TIO NA L

ASILITAS PARKIR LOT PARKIR Letak Retail Apartemen 1 L a n t a i 9 29 Lantai 8 ...................... 36 L a n t a i 7 36 L a n t a i 6 36 L a n t a i 5 30 54 L a n t a i 4 30 54 Lantai 3 30 54 a n t a i 2 30 54 30 L a n t a i 1 54 Perm uka an 407 150 Total . Letak Apartemen 1 _ _ Retail L a n t a i 9 870 L a n t a i 8 1,080 a n t a i 7 1,080 L a n t a i 6 1,080 L a n t a i 5 900 1,620 L a n t a i 4 900 1,620 Lantai 3 900 1,620 L a n t a i 2 1,620 900 900 L a n t a i 1 1,620 Permukaan 4,500 12,210 Total

Apartemen 2

Ruko 29 ................... 36 ................... 36 ................... 36 ................... 54 ................... 54 ................... 54 ................... 54 ................... 54 .................

Total unit

58 72 72 72 138 138 138 138 138 20........................... 20 20 407 984 Apartemen 2 Ruko Total luas (m2) 870.................. 1740 1,080............... 2,160 1,080 ........ 2,160 1,080............... 2,160 1,620 _ ..................... 4,140 1,620............... 4,140 1,620............... 4,140 1,620............... 4,140 1,620............... 4,140 600 ......................... 600 600 12,210 29,520

Sumber: Colliers International Indonesia - Advisory

20 4

Colliers

Rekomendasi Konsep

!NTERNtaIONAL

IMMIIIMMIP■ ■ •■ ■c

TIMELINE PENGEMBANGAN

Alternatif 1

Alternatif 2

Komponen Retail Center Ruko Apartemen 1 Apartemen 2 Retail Center Ruko Apartemen 1 Apartemen 2

2016

2017 1 2018 l 2019

2020

2021

2022

Tahap persiapan Tahap konstruksi Tahap operasional Sum ber: Colliers International Indonesia - Advisory

Pada alternatif 1, ritel akan beroperasi pada tahun 2018 sedangkan pada alternatif 2, ritel akan beroperasi pada tahun 2019 karena ukuran retail yang lebih luas sehingga membutuhkan waktu yang lebih lama dalam konstruksi. Ruko dan apartemen pada kedua alternatif memiliki timeline yang sama yaitu masig-masing mulai beroperasi pada tahun 2019 dan 2020.

Colliers

Rekomendasi Konsep BATASAN TEKNIS Luas tanah (m2)

KDB KLB KDB KLB

1111. ........... db..

.06....................

45,000.00

r

ommik:

53,844.88

Batasan

Peraturan luas maksimal bangunan (m2)

Alternatif 1 60% 4 Alternatif 2 60% 4

Konsep (m2)

27,000.00 180000

11,962 55.569

32,306.931 215 379.52

17,419i 69,201

% Digunakan

44% 31%

5342;00

Sumber: Colliers International Indonesia - Advisory

Berdasarkan tabel diatas, pengembangan yang diusulkan memiliki efisiensi lantai dasar sebesar 44% untuk alternatif 1, sedangkan untuk alternatif 2 sebesar 54%.Perbedaan pengembangan alternatif 1 dan alternatif 2 adalah luasan retail center dan jumlah ruko. Luas retail center alternatif 2 dua kali lipat dari retail center alternatif 1 dan jumlah ruko alternatif 2 lebih banyak 4 unit dibanding alternatif 1. Namun dengan catatan luas tanah alternatif 2 ditambah sebesar 8.844,88 m2.

Colliers

Simulasi Konsep- Alternatif 1 SITE PLAN

Retail Center Parkir retail Fasilitas apartemen Building Core Unit 2 KT Unit Studio Unit 1 KT Kolam renang Gedung parkir apartemen Ruko

Sumber: Colliers International Indonesia - Advisory

207

Simulasi Konsep- Alternatif 1

Colliers NTERNATIONAL

PERSPEKTIF DARI AKSES MASUK

Sumber: Colliers International Indonesia -Advisory

208

Colliers

Simulasi Konsep- Alternatif 2

INTE - 4411 ..

SITE PLAN =Retail Center Parkir retail IlFasilitas apartemen Building Core Unit 2 KT Unit Studio Unit 1 KT Kolam renang Gedung parkir apartemen Ruko

Sumber: Colliers International Indonesia - Advisory

■111=7M11/111111,7

Simulasi Konsep- Alternatif 2

Colliers INTERN 4T10 NAL

PERSPEKTIF DARI AKSES MASUK

Sumber: Colliers International Indonesia -Advisory

,/

Colliers International I Jakarta Advisory Services World Trade Centre 1, 10th Floor Jalan Jendral Sudirman Kay. 29 — 31 Jakarta 12920 I Indonesia TEL +62 21 3043 6888

00

Disclaimer: This presentation and the calculations shown herein have been prepared by The Colliers International as a guide only. Any interested party seeking to rely on the contents should undertake its own inquiries as to the accuracy of the information. Colliers International does n ot guarantee, warrant the accuracy or represent the information contained in this document and excludes unequivocally all inferred and implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising there from including any loss of profits, business or anticipated savings.