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.

scholarly journals Universidades públicas como agentes de desenvolvimento urbano e regional de cidades médias e pequenas: uma discussão teórica, metodológica e empírica

GeoTextos ◽  
2015 ◽  
Vol 11 (1) ◽  
Author(s):  
Wendel Henrique Baumgartner
Keyword(s):  
Methodological Approach ◽  
Local Population ◽  
Real Estate Market ◽  
Point Of View ◽  
Cultural Conflicts ◽  
The Real Estate ◽  
Regional Role ◽  
The Social ◽  
Economical Development ◽  
Urban And Regional Development

As universidades apresentam um importante papel social na promoção do desenvolvimento social, cultural e econômico. Em diversos países sua instalação está ligada também ao desenvolvimento urbano e regional, especialmente de cidades médias e pequenas, promovendo, com relativo sucesso, a modernização da estrutura urbana e econômica dessas cidades. A base empírica desse estudo são as cidades sede dos campi da Universidade Federal do Recôncavo da Bahia (instalados em 2006) e Passau (Baviera/Alemanha), sede da Universidade de Passau, desde 1978. Nosso objetivo é propor uma abordagem metodológica que dê suporte para pesquisas focadas na integração, na fragmentação e nos conflitos entre a cidade da população local e aquela das universidades. Nossas conclusões principais indicam uma grande dinamização do mercado imobiliário, diversificação das atividades comerciais e de serviços, ampliação do papel regional, mas também, do ponto de vista social, conexões fracas e pontuais com a cidade, gerando conflitos entre estudantes/professores e a população local. Abstract PUBLIC UNIVERSITIES AS AGENTS IN URBAN AND REGIONAL DEVELOPMENT OF MEDIUM AND SMALL-SIZED CITIES: A THEORETICAL, METHODOLOGICAL AND EMPIRICAL APPROACH The universities have an important role in our society to promote social, cultural and economical development. In many countries universities has been installed in small and medium-sized cities since the 70’s to promote the development and ‘modernization’. Some of them are very successful and the economical development is visible and unquestionable. Our empirical study focuses the cities of the Federal University of Reconcavo da Bahia (installed in 2006) and Passau/Bavaria/Germany (University of Passau, installed in 1978). Our goal is to propose methodological approach to support a research based on the integration, fragmentation and conflicts between the city of the local population and city of the Universities. Our major conclusions are connected with the increase of the real estate market, diversification of commercial and service activities, intensification of regional role. From the social point of view, however, there are weak and punctual connections with the cities, promoting spatial and cultural conflicts between the students/professor and the local population.

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.

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.

Urban Redevelopment, Cultural Philanthropy and the Commodification of Artistic Authenticity in Toronto

2019 ◽  
Vol 18 (1) ◽  
pp. 173-194 ◽  
Author(s):  
Alison L. Bain ◽  
Loren March
Keyword(s):  
Cultural Capital ◽  
Urban Redevelopment ◽  
Real Estate Market ◽  
Property Development ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Art Scene ◽  
Arts And Culture

This article offers a multiscalar, sociohistoric account of the spatial struggles of Toronto artists from 1970 until the present to secure affordable living and work space downtown that foregrounds the contemporary role of the cultural philanthropist–developer. It argues that the cultural capital of artists to identify and embody authenticity facilitated temporary spatial claims that supported the development of a local art scene on Queen Street West, but one that became dependent upon, yet vulnerable to, the sociospatial unevenness of cultural philanthropy. Benevolence in arts and culture is not distributed evenly across time and space. Instead, as the case study of the 401 Richmond arts hub reveals, benevolence in its alliances with the real estate market and property development is concentrated in individualized commitments to particular neighborhoods, buildings, and local relationships, which temporally and operationally constrains its policy–transforming potential.

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.

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.

scholarly journals Protection of the Weaker Party to a Property Development Contract under Polish Law. Implementation of the Model of the State’s Protective Duties in Practice

Teisė ◽  
2019 ◽  
Vol 110 ◽  
pp. 147-157
Author(s):  
Monika Florczak-Wątor
Keyword(s):  
Full Article ◽  
Real Estate Market ◽  
Property Development ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Consumer Organizations ◽  
The Republic ◽  
Legal Forms ◽  
Polish Law ◽  
Property Developers

[full article and abstract in English] This study examines the mechanism of the protection of customers of property developers that was introduced into Polish legal system by the Property Development Act adopted on 16 September 2011. Those customers are the weaker party to a property development contract that should be protected by the State. The article presents the very concept of the Polish property development contract, its substance and legal forms as well as its practical aspects. This issue of the protection of customers of property developers is of a great importance not only in Poland but also in other European countries that have experienced a boom in the real estate market in the last decade. The article discusses also the issue of the compatibility of the Property Development Act with the model of the State’s protective obligations in horizontal relations that has been established under the Constitution of the Republic of Poland of 2 April 1997. The paper concludes by presenting some postulates of amendments to the Property Development Act submitted by consumer organizations, industry representatives and entrepreneurs as well as a very comprehensive draft of the amendment presented in May 2018 by the President of the Office of Competition and Consumer Protection. This draft is currently at the stage of inter-ministerial consultations and it is difficult to foresee whether the new solutions will be adopted by Parliament in such a form.

scholarly journals Price Bubbles in the Real Estate Markets - Analysis and Prediction

2022 ◽  
Vol 19 ◽  
pp. 292-303
Author(s):  
Paweł Dec ◽  
Gabriel Główka ◽  
Piotr Masiukiewicz
Keyword(s):  
Real Estate ◽  
Predictive Analytics ◽  
Real Estate Market ◽  
Point Of View ◽  
Subprime Crisis ◽  
The Real ◽  
The Real Estate ◽  
Price Bubbles ◽  
The Real Estate Market ◽  
The Government

The article concerns the issue of price bubbles on the markets, with particular emphasis on the specificity of the real estate market. Up till now, more than a decade after the subprime crisis, there is no accurate enough method to predict price movements, their culmination and, eventually, the burst of price and speculative bubbles on the markets. Hence, the main goal of the article is to present the possibility of early detection of price bubbles and their consequences from the point of view of the surveyed managers. The following research hypothesis was verified: price bubbles on the real estate market cannot be excluded, therefore constant monitoring and predictive analytics of this market are needed. In addition to standard research methods (desk research or statistical analysis), the authors conducted their own survey on a group of randomly selected managers from Portugal and Poland in the context of their attitude to crises and price bubbles. The obtained results allowed us to conclude that managers in both analysed countries are different relating the effects of price bubbles to the activities of their own companies but are similar (about 40% of respondents) expecting quick detection and deactivation of emerging bubbles by the government or by central bank. Nearly 40% of Polish and Portuguese managers claimed that the consequences of crises must include an increased responsibility of managers for their decisions, especially those leading to failures.

Sign in / Sign up

Export Citation Format

Share Document