Evaluation of Build–Lease Business Model Performance in High-Rise Building Projects Using Business Model Canvas and Construction Cash Conversion Cycle

Authors

  • Hanryanto Hanryanto Institut Teknologi Sepuluh Nopember, Indonesia
  • Imam Baihaqi Institut Teknologi Sepuluh Nopember, Indonesia
  • Andi Janshar Institut Teknologi Sepuluh Nopember, Indonesia
  • Daral Suraedi Universitas Indonesia, Indonesia

DOI:

https://doi.org/10.58344/locus.v5i4.5739

Keywords:

Build–Lease scheme, Business Model Canvas, Construction Cash Conversion Cycle, high-rise building, construction business model

Abstract

The Build–Lease scheme has emerged as an alternative financing and delivery model for large-scale construction projects requiring substantial upfront investment and long-term financial sustainability. However, integrated evaluations linking strategic business model analysis with financial efficiency remain limited. This study evaluates the performance of a Build–Lease business model in a high-rise building project by integrating the Business Model Canvas (BMC) and Construction Cash Conversion Cycle (CCC). A mixed-method approach is applied, combining bibliometric analysis, a case study of the BSI Tower project in Indonesia, and expert judgment validation. Bibliometric analysis using the Scopus database and VOSviewer identifies global research trends and gaps related to Build–Lease schemes, business model innovation, and working capital efficiency. The case study applies the Business Model Canvas (BMC) framework to examine strategic value creation and revenue mechanisms, while the Construction Cash Conversion Cycle (CCC) assesses working capital efficiency using financial data from project simulations and SAP CO/MM reports during the first year of operation. The results show that long-term lease arrangements generate stable and predictable revenue streams, supporting the transformation of construction firms into long-term asset developers. The Construction Cash Conversion Cycle (CCC)analysis reveals a highly efficient cycle of 6.6 days, indicating strong liquidity and effective working capital management. Integrating the Business Model Canvas (BMC) and Construction Cash Conversion Cycle (CCC) demonstrates that strategic decisions significantly influence cash flow performance. This study proposes an integrated BMC–CCC framework linking business design with financial efficiency and offering practical insights for contractors, investors, and policymakers.

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Published

2026-04-15

Issue

Vol. 5 No. 4 (2026): JURNAL LOCUS: Penelitian dan Pengabdian

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Articles

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Copyright (c) 2026 Hanryanto Hanryanto, Imam Baihaqi, Andi Janshar, Daral Suraedi

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