ESTABLISHING THE HIGHEST AND BEST USE (HBU) PROPERTY UTILISATION IN INDONESIA: A CASE STUDY OF WISMA CIMACAN, JAWA BARAT

Some of the purposes of the Highest and Best Use (HBU) Analysis for Property Utilisation are to obtain an assessment of suitable and significant building construction in order to increase asset utilisation thereby maximizing the functions and social aspects of the building s value. The Provincial Government of the Special Capital Region Jakarta (DKI Jakarta) has several assets both in the form of vacant land and buildings that have not yet been optimally utilised. Updates for vacant land and stalled buildings have not been implemented optimally so that the HBU Analysis for Property Utilization is required. Wisma Aset Cimacan, is one of the assets of the Provincial Government of DKI Jakarta which is located on Jalan Jeprah, Palasari Village, Cipanas District, Cianjur Regency, West Java Province. This study examined the ways in which the property can be best utilised. Results of the study were expected to be an input for the Provincial Government to consider in developing and utilizing the Wisma Aset Cimacan. Primary data were gathered from field survey and analysis of existing conditions followed by market analysis, and the drafting of space utilisation scenarios. The results revealed that the HBU concept provides the most optimal utilisation options from the perspectives of functional maximisatioan and socio-economic aspects of the building value. The follow up analysis of the results saw the development of two scenarios for the property s HBU, namely, an optimistic scenario and a moderate scenario of the property s space utilisation

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