Ekonomi Bisnis
Vol. 31 No. 2 (2026)

ENHANCING REAL ESTATE FEASIBILITY STUDIES WITH MULTI-CRITERIA AND RISK ANALYSIS TOOLS

Jason Lim (Pradita University)
Firman Sarifudin (Tarumanagara University)
Elia Oey (Binus University)



Article Info

Publish Date
10 Sep 2026

Abstract

Conducting a reliable feasibility study is crucial yet challenging before starting any real estate project. This study presents a detailed case of a comprehensive feasibility assessment for a medium-scale real estate development in the Greater Jakarta area. It integrates multiple analytical tools, including the Performance Prism framework to identify key performance indicators, and the Analytic Hierarchy Process (AHP) alongside Pareto analysis to prioritize them. Financial viability was assessed through engineering economic calculations supported by Monte Carlo simulation. The base case simulation indicated a strong financial outlook, with a positive Net Present Value (NPV) and a healthy Internal Rate of Return (IRR). To test the project’s resilience, five additional scenarios were analyzed for sensitivity, exploring how variations in key assumptions might affect financial outcomes. This combined approach provides a thorough evaluation by incorporating both quantitative data and qualitative insights, ensuring a balanced and robust feasibility study for the real estate project.

Copyrights © 2026






Journal Info

Abbrev

ekbis

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

Jurnal Ilmiah Ekonomi Bisnis is a journal through a peer-review process. Jurnal Ilmiah Ekonomi Bisnis is intended for academics and researchers to publish their articles which is an original text that has not been published in another journal. The focus and scope are in the fields of management, ...