Searching for niche market for engineering consultants

2016 ◽  
Vol 23 (5) ◽  
pp. 622-637 ◽  
Author(s):  
Zhikun Ding ◽  
Jian Zuo ◽  
Jiayuan Wang ◽  
George Zillante
Keyword(s):  
Principal Component ◽  
Real Estate Market ◽  
Supervision System ◽  
Niche Market ◽  
Content Type ◽  
The Real Estate ◽  
Performance Benchmarking ◽  
Consulting Firms ◽  
Knowledge Intensive ◽  
Key Indicators

Purpose A growing number of foreign consulting firms have been engaged in the Chinese construction market where the supervision system, as a kind of engineering consultant service has been widely implemented. However, the performance of supervision system varies significantly across regions. Therefore, foreign consulting firms are in desperate need of related performance benchmarking statistics to determine the niche market. A major issue is lack of a quantitative method to objectively evaluate regional supervision systems’ performance. The paper aims to discuss these issues. Design/methodology/approach A new regional construction supervision system benchmarking model was developed via the principal component analysis method. This model is based on key performance indicators drawn from annual official statistics. This list of key indicators was refined by means of a focus group with selected experts. Consequently the performances of all 31 regional supervision systems were calculated and ranked. Findings Results indicate a general gap between coastal and inland regions. The various development trends of top 10 regions are analyzed and the underlying reasons are explored. Furthermore, the regions deserving more attention or currently lacking in development are identified. The supervision industry in China is shifting from a labor-intensive industry to a knowledge-intensive industry. Originality/value The proposed model provides a single quantitative parameter to conveniently benchmark the performance of various regions. The findings are vital for the benchmarking and clarification of future endeavor of the regional supervision systems and for foreign enterprises that are planning to enter the real-estate market in China.

scholarly journals Innovative management of rural buildings

2019 ◽  
Vol 9 (1) ◽  
pp. 43-61 ◽  
Author(s):  
Marzia Morena ◽  
Gian Battista Bischetti ◽  
Maria Luisa Del Gatto ◽  
Anna Gornati
Keyword(s):  
Real Estate Market ◽  
Point Of View ◽  
Analysis Tool ◽  
Full Potential ◽  
Analysis Model ◽  
Property Development ◽  
Grazing Land ◽  
Content Type ◽  
The Real Estate ◽  
Rural Buildings

Purpose This study forms part of a larger project funded by Cariplo Foundation. The purpose of this paper is to focus on the scope to exploit the full potential and upgrade the functions of abandoned or under-utilized typical highland Alpine pasture systems (made by a complex of grazing fields, buildings for temporal animal and human recovery and dairy production, identified as Malga system or Alpeggio), by adopting the property investor’s point of view. Design/methodology/approach This study has adapted the traditional property development processes to rural buildings, thus generating an analysis model that proves able to define a new destination of use whenever the project considers the reuse of existing facilities. Findings The proposed model analyzes the technological, functional and territory features of the building to be upgraded, to assess the technical feasibility of the changeover project and identify the highest and best use of Malga-systems. The model has been applied to all the Malga-systems in the Orobie Bergamasche Park; it performed a comprehensive assessment of the development potential of the Malga-systems in the same Park. Research limitations/implications The design of the model took into consideration the specificities of the Orobie Bergamasche Park; nevertheless, the method can be taken as an example to be applied to any grazing land in the Alps. Originality/value This research provides the real estate market with a new analysis tool that is specific for the rural buildings, and suitable to streamline the procedures designed to upgrade these properties and to infuse new life into the territories that are experiencing a period of hardship and/or decay.

Personal knowledge management and enactment of personal knowledge infrastructures as shadow IT

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Hossein Jarrahi ◽  
Rebecca Reynolds ◽  
Ali Eshraghi
Keyword(s):  
Knowledge Management ◽  
Knowledge Workers ◽  
Organizational Level ◽  
Personal Knowledge ◽  
Content Type ◽  
Organizational Contexts ◽  
Personal Knowledge Management ◽  
Consulting Firms ◽  
Individual Knowledge ◽  
Knowledge Intensive

Purpose Personal knowledge management (KM) lends new emphasis to ways through which individual knowledge workers engage with knowledge in organizational contexts. This paper aims to go beyond an organizational approach to KM to examine key personal KM and knowledge building (KB) practices among adult professionals. Design/methodology/approach This paper presents a summary of the findings from interviews with 58 consultants from 17 managing consulting firms. Participants were selected based on their knowledge-intensive roles and their willingness to share information about their knowledge practices. Data analysis was inductive and revealed multiple personal KM activities common among research participants, and the way these are supported by informal ties and various technologies. Findings This work highlights ways in which “shadow information technology” undergirds personal knowledge infrastructures and supports KM and KB practices in the context of management consulting firms. The results uncover how personal knowledge infrastructures emerge from personal KM and KB practices, and the role of informal social networks as well as social media in supporting personal KM and KB. Research limitations/implications This study contributes an overall conceptual model of factors that help knowledge workers build a personal knowledge infrastructure. By affording an understanding of socially embedded personal KM activities, this work helps organizations create a balance between KM strategies at the organizational level and personal knowledge goals of individual workers. Originality/value Much of the previous research on KM adopts organizational approaches to KM, accentuating how organizations can effectively capture, organize and distribute organizational knowledge (primarily through KM systems).

Godrej properties: valuation using the capital cash flow technique

2020 ◽  
Vol 10 (3) ◽  
pp. 1-23
Author(s):  
Rajni Kant Rajhans
Keyword(s):  
Real Estate ◽  
Cash Flow ◽  
Structural Changes ◽  
Real Estate Market ◽  
Firm Valuation ◽  
Free Cash Flow ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

Learning outcomes The case is focused to meet the following learning objectives: the readers will be able to recall basic cash flow estimation concepts; and the readers will be able to explain various features of capital cash flow (CCF). The participants will be able to implement the CCF model in real estate firm valuation. The participants will be able to compare CCF and free cash flow to the firm (FCFF) models. The participants will be able to evaluate the benefits of CCF over FCFF. The readers will be able to construct the CCF valuation model for firm valuation. Case overview/synopsis On 19th April 2019, Mr Kai, an analyst tracking real estate firms was excited to present to his team a new robust technique of firm valuation suitable for real estate companies, namely, the CCF technique and was also keen to deliberate on its application. Though the investment scope using this technique could be located in Godrej properties (GP), a reputed brand and the largest listed real estate developer by sales in 2018, yet, he was concerned about the assumptions of growth of real estate industry in India, in general, and the GP in particular. Importantly, this was because the real estate market in India was undergoing many structural changes. For instance, the buyers’ preferences were changing and unsold inventory in the industry was at its peak. Under these market conditions, an announcement was made by GP about a target return on equity of 20% in 2018–2023 expecting a dominant place in the real estate market in India, which also carried the threat of jeopardizing the reputation of GP, if under any circumstance the target was not accomplished. Complexity academic level Masters program. Supplementary materials Teaching notes are available for educators only. Subject code CSS: 11 Strategy.

scholarly journals Impacts of digitization on real estate sector jobs

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel Piazolo ◽  
Utku Cem Dogan
Keyword(s):  
Real Estate ◽  
Weighted Average ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Employment Agency ◽  
Real Estate Sector ◽  
Substitution Probability

PurposePrevious research on automation and job disruption is only marginally related to the real estate industry and its characteristics. This study investigates the effects of digitization on jobs in German real estate sector, in order to assess the proportion of jobs threatened to be replaced by automation. Since Germany is the largest EU economy insights for the German real estate market allow a first approximation for Europe.Design/methodology/approachAn extensive database of the German Federal Employment Agency containing job definitions and occupation titles is matched with real estate criteria to create a subset with the relevant real estate occupations. This data is combined with a database of the German Institute of Employment Research reflecting to what extent tasks within jobs can be automated by current technical capabilities.FindingsFor the 286 identified occupations within the real estate sector a weighted average of 47 percent substitution probability through current technological capabilities is derived for tasks within the examined occupations.Practical implicationsThis contribution indicates the extent of the structural change the real estate sector has to face due to digitization: One out of two real estate jobs will have to be re-created.Originality/valueThis research quantifies the magnitude of the job killer aspect of digitization in the real estate sector.

UAE real estate market will likely recover in 2019

2018 ◽  
Keyword(s):  
Real Estate ◽  
United Arab Emirates ◽  
International Investment ◽  
Real Estate Market ◽  
Content Type ◽  
The Real Estate ◽  
Regional Conflict ◽  
Real Estate Sector ◽  
Real Estate Projects ◽  
Regulatory Measures

Significance After three difficult years, the United Arab Emirates (UAE) real estate market appears to be finding a floor, with several property consultancies and management firms cautiously optimistic over the prospects of a turnaround. New regulatory measures and a delay in some planned real-estate projects aim to support prices. Impacts The importance of the real-estate sector to Emirati non-oil GDP will rise further, magnifying its impact on growth. Dependence on international investment and public-sector spending will expose the sector to volatility in case of regional conflict. The UAE will increasingly look towards Asian countries as property buyers, especially India, China and Pakistan.

How do institutional pension managers consider real estate

2017 ◽  
Vol 35 (1) ◽  
pp. 26-43 ◽  
Author(s):  
Jon R.G.M. Lekander
Keyword(s):  
Real Estate ◽  
Asset Allocation ◽  
Pension Funds ◽  
Real Estate Market ◽  
Organizational Capabilities ◽  
Future Research ◽  
Allocation Decision ◽  
Content Type ◽  
The Real Estate ◽  
Allocation Process

Purpose The asset allocation decision for a pension portfolio needs to consider several, sometimes conflicting, aspects. Most pension managers use models and processes that are developed for the traditional asset classes for analyzing this problem. The purpose of this paper is to investigate how real estate is included in this process, for what purpose and how the real estate portfolio is constructed. Design/methodology/approach Seven individuals responsible for the asset allocation process were interviewed, and their responses were analyzed with regards to organizational options and their real estate strategy. Findings It was found that real estate is held for three different purposes, risk diversification, inflation hedging/liability matching and return enhancement and that the allocation has increased over time. The allocation strategy has evolved at least in part in conjuncture with the organizational structure set in place to overcome real estate market frictions. Research limitations/implications The interviews were geographically limited to pension funds domiciled in Sweden and Finland. Practical implications It is concluded that the organizational capabilities of the pension fund of handling real estate is an important consideration for the ensuing real estate portfolio. Originality/value The originality of this paper lies in that it is based on interviews with individuals who are responsible for the asset allocation decision at large pension funds. The findings of the paper identify areas of interest for future research.

scholarly journals Convergence in the UK direct real estate market

2017 ◽  
Vol 35 (4) ◽  
pp. 382-396
Author(s):  
Stephen Lee
Keyword(s):  
Real Estate ◽  
Global Financial Crisis ◽  
Common Factor ◽  
Principal Component ◽  
Spillover Effects ◽  
Real Estate Market ◽  
Sample Period ◽  
Market Segments ◽  
Content Type ◽  
The Uk

Purpose The purpose of this paper is to empirically examine the issue of convergence in the monthly returns, rental growth and yields for ten market segments in the UK direct real estate market, using monthly data over the period from January 1987 to December 2014. Design/methodology/approach The methodology used to determine convergence is principal component analysis as it provides an assessment of the extent to which the variance of the market segments can be represented by a single common factor, explaining their long-run behaviour, and the degree of independence between the market segments. Findings The results suggest that there is strong evidence of convergence over the entire sample period in relation to monthly returns and yields but less evidence of convergence in rental growth, which confirms the findings in previous studies in international markets. Practical implications The evidence also suggests that convergence has increased over the sample period and that convergence is period specific and was particularly strong during and after the period of the Global Financial Crisis, which implies that the UK direct real estate market is largely integrated and as a consequence the extent of diversification potential in the market is still severely limited. Social implications The convergence in returns has crucial implications for investors as it leaves investors exposed to the same structural shocks and so magnifies the importance of volatility spillover effects, limits their ability to create well-diversified portfolios and make it more difficult for fund managers to outperform the market. Originality/value This is the first paper to examine the convergence in the UK direct real estate market.

Investor attention for retail and institutional investors: a test on the real estate market

2013 ◽  
Vol 31 (4) ◽  
pp. 314-328
Author(s):  
Gianluca Mattarocci ◽  
Georgios Siligardos
Keyword(s):  
Real Estate ◽  
Institutional Investors ◽  
Real Estate Market ◽  
Investor Attention ◽  
Causality Test ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

PurposeThe paper aims to investigate the relationship between different investor attention proxies for different types of funds (retail vs institutional ones) looking at a sample of real estate funds.Design/methodology/approachThe authors collect data about searching frequency on Google and all the news published in Italian specialized newspapers for a set of real estate funds. Following the approach proposed by Da, Engelberg and Gao, the authors construct a set of attention proxies and they compare the ranking with some summary statistics and evaluate the causality relationship among them using a Granger causality test.FindingsResults demonstrate that online search frequency is relevant for both institutional and retail funds and normally internet data are able to anticipate the news that will be published in the newspapers.Research limitations/implicationsThe analysis proposed is focused only on a small real estate market (Italy) where funds are specialized for the type of investor. A wider database can allow excluding that results achieved are biased by the specific features of the market analysed.Practical implicationsThe role of internet proxies attention measures also for institutional investors demonstrate that the managing companies offering financial instruments reserved to institutional investors should consider both channels of information – newspapers and the internet – to measure any positive or negative sign of investor attention to their products.Originality/valueThe article represents the first analysis of investor attention proxies on the real estate market and the first comparison of investor attention proxies for retail and institutional investors.

Financialisation and development: a case study of Ethiopia

2019 ◽  
Vol 11 (2) ◽  
pp. 138-196
Author(s):  
Anne Löscher
Keyword(s):  
Real Estate ◽  
Financial Development ◽  
Industrial Development ◽  
Real Estate Market ◽  
Economic Research ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Debt Levels

Purpose This paper aims to shed light on financial development in Ethiopia and its implications for overall economic development. It does so with particular focus on development understood as industrial development and with special attention drawn on inequality and debt levels as well as the real estate market in Ethiopia. Two research questions are focussed on in particular, where the first serves as prerequisite for the assessment of the second: What kind of financial development took place in Ethiopia in the past quarter of a century? Furthermore, are processes of financialisation visible in Ethiopia, and if so, to what effect? Design/methodology/approach The paper is based on publicly available macro-data and qualitative and quantitative data collected by the author herself during a three months’ research stay in Ethiopia. Findings It is found that despite higher levels of financial inclusion and deepening, industrialisation is on a relative decline. What is more, inequality and debt levels increase, and the recent growth spurts seem to be rooted in the construction sector with prices in the real estate market surging. In can be concluded that despite a flourishing financial sector, the Ethiopian economy is faced with the peril of crises associated with an inflated real estate market, inequality, debt burdens and impeded industrialisation. Originality/value African economies and, in particular, the development and effects of financial markets are still a blind spot in economic research. By combining quantitative and qualitative data on and gathered in Ethiopia, this paper therefore conducts greenfield research.

Investigating the causes of increasing consumer demand for real estate housing in Bangladesh

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mazed Parvez ◽  
Sohel Rana
Keyword(s):  
Real Estate ◽  
Consumer Satisfaction ◽  
Secondary Data ◽  
Real Estate Market ◽  
Sample Size Determination ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Increasing Demand

Purpose The purpose of this paper is to find out the causes of increasing population in the real estate area. The demographic in information of the respondents and the level of satisfaction was also carried out for this study. Design/methodology/approach The authors use both primary and secondary data. Total 329 respondents were surveyed at the real estate area after completing sample size determination. Secondary data was collected from journals, real estate offices and papers. After that, using regression and correlation analysis, the data was analyzed and finalized. Findings This study identified migration as the most critical variable. The study determined ten hypotheses and only accepted two. By that, this study finds out the causes of the increasing demand of plots and flats in real estate. Originality/value This study will work as a baseline study for the real estate sector in Bangladesh. Most of the research on Bangladesh’s real estate is done mainly on real estate market assessment and consumer satisfaction. Nevertheless, this study will find out the causes of the increasing population in real estate.

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