COMBINING FUZZY ANP AND FUZZY ARAS METHODS FOR DETERMINING THE BEST LAND INVESTMENT LOCATION

Determining a location for land investment cannot solely rely on intuition, as land investment is one of the economic sectors that frequently changes. Therefore, selecting a land location requires accurate analysis. The purpose of this research is to find the best land investment location using a combination of MCDM (Multi-Criteria Decision Making) methods. The scope of this research focuses on selecting land in Malang City, with the alternatives being all sub-districts in the city. As an initial step, this research employs the Delphi Technique to identify, shortlist, and evaluate the criteria considered by experts in land investment assessment. Six land investment experts participated in this study. The MCDM method used in this research involves two approaches. The weighting of criteria is conducted using the Analytic Network Process (ANP) method, chosen for its ability to account for interrelationships between criteria and alternatives. Following this, the ranking stage utilizes the Additive Ratio Assessment (ARAS) method, which provides utility function values to determine the efficiency of alternatives. To reduce panelist subjectivity, this research uses trapezoidal fuzzy numbers, which are generally better than triangular fuzzy numbers often used in other studies. The assessment results of criteria and sub-criteria indicate that the panelist weightings achieved good hierarchical consistency. From the ANP method combined with the Delphi technique, the Road Access sub-criterion was identified as having the highest weight, followed by the Land Profitability Index sub-criterion, and subsequently by seven other sub-criteria considered in this investment problem. The final outcome of this research, which combines the ANP and ARAS methods with fuzzy usage, shows that the relative efficiency of viable alternatives is directly proportional to the relative impact of the main criteria values and weights considered in the investment. The Arjowinangun sub-district also emerged as the best alternative for land investment.