Daftar Isi:
  • The increasing number of residents in the city of Malang resulted in the need for shelter also increased. To fulfill this request, the developer of PT. Revona Karya Bersama built a residential area, namely the Emerald UIN Malang housing. The housing requires a large amount of capital in a long period of time so an investment analysis and project feasibility study is needed to determine whether the project is feasible or not to run. Financial criteria used are Net Present Value (NPV), Benefit Cost and Ratio (BCR), Internal Rate of Return (IRR), and Payback Period (PP). After that the sensitivity analysis method is done to measure the level of sensitivity to changes in the input parameter values. From the analysis of calculations using investment criteria under normal project conditions the results of investment project analysis are obtained under normal conditions NPV = Rp 5,646,888,355.60, BCR = 1.17, IRR = 12.13%, and PP in the 3rd year of the month -8. Based on the results of the analysis it can be concluded that the financial condition of the project in normal conditions is feasible to run. Then a risk analysis is performed on optimistic and pessimistic conditions. The optimistic condition increased the project benefits by 5% and the term of bank lending was shortened to 5 years. In an optimistic condition the project is feasible to run. For variable pessimistic conditions that change, namely, the 1st pessimist increases construction costs by 8.16% annually, the 2nd pessimist raises loan interest to 20% per year, and the 3rd pessimist decreases the project benefit by 15%. In the three pessimistic conditions the project is not feasible, For the project sensitivity analysis it can be seen that the financial condition of the project is sensitive to a 15% reduction in project benefits and an increase in construction costs by 10%.