The Effect of Perceived Functional, Social, and Economic Value on Green Building Leasing Intention with Green Trust as a Mediating Variable Among Companies in South Jakarta

The development of green buildings has become increasingly relevant along with growing corporate attention to sustainability and Environmental, Social, and Governance (ESG). However, increasing green building supply does not automatically result in higher corporate intention to lease green buildings. This study examines the effects of Functional Value, Social Value, and Economic Value on Green Trust and Green Building Leasing Intention, as well as the mediating role of Green Trust. The study employed a quantitative explanatory approach using a survey of 150 respondents representing tenant companies or individuals involved in office leasing decisions in South Jakarta. Data were collected using a five-point Likert-scale questionnaire and analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with SmartPLS. The results show that Functional Value, Social Value, and Economic Value have positive and significant effects on Green Trust and Green Building Leasing Intention. Green Trust also has a positive and significant effect on Green Building Leasing Intention. The specific indirect effects of Functional Value, Social Value, and Economic Value through Green Trust are significant. Based on the VAF criterion used in the thesis, Green Trust provides partial mediation for Functional Value, while the VAF values for Social Value and Economic Value are below 20%. Functional Value has the strongest direct effect in the model. The findings indicate that corporate leasing decisions regarding green buildings are shaped by functional, social, and economic value perceptions as well as trust in the credibility of green building benefits