AN EFFORT FOR TRANSFORMING BUSINESS MODEL OF REAL ESTATE INVESTMENT COMPANY TO BE A PROPERTY TECHNOLOGY FIRM IN FACING FUTURE DIGITAL INDUSTRY

• Main Author: Qisthi Nerissa, Puti
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/41476
• Institution: Institut Teknologi Bandung

The rise of the new digital industrial technology called by Industry 4.0 has transformed how enterprises are enabling faster, more flexible, and even more efficient process. Digital transformation, as we called, is driven by the four types of technology, which are: Mobile Internet, Cloud Technology, Internet of Things (IoT), and Big Data and Advanced Analytics. This phenomenon has disrupted the incumbents and reshape market faster than perhaps any force in history. Real estate industry is one of the industry that cannot escape from this disruption. The new emergence of integration of property and technology, called as Proptech, has changed the way real estate industry in how they conducting the business. With the development of Proptech, there is a need in transforming traditional business process to faster process without reducing its prudence. Lesson learned from InvesProperti, a real estate investment start-up, that among of all property technology that exists which type is the more suitable in Indonesia. In order to find the suitable business model, qualitative analysis, using Roadmap to the digital transformation of business model with its various phases and activities, is conducted. Description of real estate, property technology, Millennials, and digital ecosystem is done to get a complete picture of real estate industry, customer insight, and digital technology. PEST Framework is used to analyze the external factor of the firm. Internal analysis is done by outlining the existing business model and analysis on value-chain. Through the phase in the Roadmap to the digital transformation, it is gained several combination options for the future business model. That combinations are evaluated according to the several criteria. Results of the analysis that there are two types of suitable business model that can be implemented in Indonesia. The first business model is a peer-to-peer lending for down payment and upfront rent payment for home buyers and renters. The second business model is a real estate marketplace and rental management, including selling, buying, renting, and lettings management targeting Millennials customers