REINVESTMENT AND COMMERCIAL GENTRIFICATION PATTERNS IN KAWASAN MALIOBORO, YOGYAKARTA CITY

• Main Author: Aulia, Nurul
• Format: Theses
• Language: Indonesia
• Subjects: Perencanaan wilayah
• Online Access: https://digilib.itb.ac.id/gdl/view/86957
• Institution: Institut Teknologi Bandung

Reinvestment, defined as the act of reinvesting in real property to enhance it’s economic value in response to significant rent gaps in the area, is a key process shaping urban transformation. This phenomenon is an initial stage of commercial gentrification. Kawasan Malioboro, located in Yogyakarta City, serves as a notable example of such transformation, where residentials property have been converted into commercial buildings. This process involves various actors, including government, investors, and local communities, who contributed to increasing property values. This study aims to examine the process of the reinvestment and its impact on land-use changes and land price dynamics. Specifically, the research objectives are 1) to identify the driving factors and processes of reinvestment; 2) to analyze changes in land use associated with reinvestment; and 3) to describe land price patterns and their relationship to reinvestment activity. A mixed-methods approach was adopted, combining quantitative analysis and qualitative analysis with observations and purposive sampling interviews. The findings indicate that reinvestment in Kawasan Malioboro is driven by government interventions, such as revitalization programs and deregulation, which simplify licensing procedures and facilitate investment inflows. Local communities, as one of reinvestment actors show characteristics of mobility, adaptation and reinvestment. The intensity of reinvestment has significanly influenced land-use changes, with an increasing shift toward commercial activities, as well as fluctuations in land prices. In addition, the existence of historic and heritage assets in Kawasan Maliboro has an impact on land prices.