Amalan dalam membuat keputusan pelaburan harta tanah

Abstract

Real estate investment is seen as an important instrument in improving the economy. However, it becomes an issue when the investment is carried out in accordance with the conventional concept. This has resulted in injustice in the distribution of profits since the investment activities opposes the Islamic principles. Kelantan is among the states in Malaysia that practices Islamic administration. Therefore, it has become a great challenge for the state government to boost the state's economy through real estate investment activities. Hence, three objectives are presented in this study, which are reviewing the process of real estate investment, identifying the main criteria considered by Perbadanan Menteri Besar Kelantan (PMBK) before making real estate investment decision and clarifying existing PMBK practices in real estate investment. The study only focused on PMBK and its subsidiaries, as PMBK is the state corporation body to improve the economy of Kelantan. To accomplish this study, two methods of data collection were used. Firstly by primary data such as field observations, questionnaires and interviews. Secondly, through secondary data collection, which is through thesis, journal articles and organization profile. The analytical methods used for this study are descriptive statistical analysis, multidimensional scaling analysis and content analysis. Results from this study shows that PMBK do not make full use of concept of investment criteria in making real estate investment decision. Meanwhile, all the investment activities carried out were based on the “syariah” principles in line with the concept of ubudiyyah, mas'uliyyah and itqan. This requires improvements in making real estate investment decision based on “syariah” principles. Through this study, a new guide produced in making real estate investment decisions that were based on the “syariah” principles.