NEW BUSINESS STRATEGY FOR CITRAINDAH CITY TO STAY AS THE MARKET LEADER IN THE REAL ESTATE INDUSTRY

• Main Author: Daniel Z. Hutabarat, Obriel
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/70613
• Institution: Institut Teknologi Bandung

CitraIndah City is a subsidiary of the Ciputra Group. This company has a project in Jonggol which has been started since 1997. This research aims to understand the condition of CitraIndah City, specifically for projects in Jonggol, and determine business solutions for existing problems or problems. Various forms of analysis were carried out such as internal and external analysis. Property companies are quite interesting to study because of the high competition in the real estate and property business in Indonesia. In addition, the data obtained shows an increase in terms of public interest and sales value. This is because in Indonesia there is an economic recovery and there is government support by reducing regulations related to taxes. External analysis was carried out using the PESTLE method and Porter's Five Forces Model while the internal analysis was carried out using the value chain model and VRIO and will be using SWOT analysis. In determining business solutions for CitraIndah City, TOWS analysis will be conducted. Obtaining research data was carried out by interviewing CitraIndah City internal parties with 7 people. Through CitraIndah City's internal sources, it can be identified various operational plans owned by CitraIndah and assets owned by CitraIndah. Internal sources also stated several ways for CitraIndah to carry out its operations, such as collaborating with suppliers, collaborating with third parties to carry out construction, planning owned, and capital that CitraIndah is ready to use. In addition, questionnaires were also distributed to residents and non-residents of the CitraIndah City housing complex. From the questionnaire distribution activities, 189 data that met the requirements and could be used for research purposes. In addition to the questionnaire, interviews were also conducted with a total of 30 people, of which 16 were residents of CitraIndah City housing and 14 people from outside CitraIndah City. From the analysis process, it is known that currently the CitraIndah City project is running smoothly but is facing several problems. Some of the problems that must be faced are such as the land acquisition process that has not been fully completed, many clusters that have not been worked on, the number of units that have been sold that are still unoccupied so that the housing area looks empty, the construction of public facilities and infrastructure projects that have been delayed due to COVID-19. In addition, from PESTLE's analysis CitraIndah must be ready to face several changes, especially from a political and economic perspective after the pandemic. Such as changes in state leadership that will continue with applicable laws, changes regarding credit requirements, projections regarding inflation submitted by the ministry of finance, and up to changes in preferences that occur in the current generation. But not everything in the PESTLE analysis is detrimental to CitraIndah. There are also things that benefit CitraIndah such as economic recovery, tax relief, and changes regarding land regulations and increased property prices. This research also describes various challenges that must be resolved by CitraIndah City and also presents business solutions based on current conditions and challenges faced using various selected forms of analysis. Such as by utilizing the big name of the parent company from CitraIndah, accelerating the implementation of plans that have been made, and completing projects that were delayed during the pandemic. In this study, besides providing solutions, it also provides designs such as an implementation plan planned for three years. The implementation plan contains an arrangement of activities that can be followed by CitraIndah City to try to apply the solutions provided in this research through TOWS. The solutions provided revolve around seeking capital to accelerate existing projects in anticipation of changes that may occur from competitors and planning for evaluation of future development plans.