Data intelligence and real estate – machines are the real game changer

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marcelo Cajias ◽  
Anett Wins
Keyword(s):  
Real Estate ◽  
New Technologies ◽  
Learning Technologies ◽  
Current Status ◽  
Value Drivers ◽  
Content Type ◽  
Estate Management ◽  
Real Estate Management ◽  
Practical Implications ◽  
Game Changer

PurposeThe paper shows with two concrete examples about how algorithms are used in active real estate management. The paper also highlights that the discussion about the adoption of new technologies is crucial for market players.Design/methodology/approach The authors review the current status quo about new technologies in real estate and provide two examples of how algorithms can be used to understand locations and the value drivers of rents.FindingsLocation, location, location is nowadays data, data, data coupled with the knowledge of how to create life out of data. Algorithm can help to understand the value drivers of rents and can also help to evaluate the attractiveness of a location.Practical implicationsReal estate management will adapt to new technologies fast. This change has the potential to disrupt exiting strategies due to the increase in efficiency, insights, transparency and location knowledge. Investment managers walking this talk will definitely benefit in future.Originality/valueThe paper makes usage of the latest machine learning technologies applied to real estate investment cases. This is a unique opportunity on bringing light on the discussion about transparency in real estate.

New organisations and new workplaces

2016 ◽  
Vol 18 (1) ◽  
pp. 4-16 ◽  
Author(s):  
Rob Harris
Keyword(s):  
Real Estate ◽  
Building Design ◽  
Practical Experience ◽  
Content Type ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Long Term Impact ◽  
Real Estate Management ◽  
Corporate Real Estate Management ◽  
Practical Implications

Purpose The purpose of this paper is to outline key changes occurring within office occupier businesses that will have a medium- to long-term impact upon the nature and design of the office workplace, and the implications for the corporate real estate manager. Design/methodology/approach The paper is based upon research involving detailed consultations with corporate occupiers in the City of London, as well as representatives of the property supply chain. This has been developed here to include practical experience and to relate the lessons of the work directly to corporate real estate management. Findings The findings suggest major changes are taking place in the demand profile of office occupiers, in terms of both quantitative and qualitative demand for space. There are a number of practical implications arising from the findings, not least the need for investors to consider the appropriateness of current standards for base building design and fit-out in contemporary offices, and the need for corporate real estate management to adapt. Practical implications The paper contains a number of implications arising from the changing workplace for the corporate real estate management profession. Originality/value The paper reflects direct practical experience and the output of primary research and consulting. It is also highly relevant: while much has been written about agile working, much less has covered the practical implications for building design and corporate real estate management.

Strategic corporate real estate management practice in Ghana

2019 ◽  
Vol 37 (3) ◽  
pp. 432-449
Author(s):  
Naana Amakie Boakye-Agyeman ◽  
John Tiah Bugri
Keyword(s):  
Real Estate ◽  
Tertiary Education ◽  
Management Practice ◽  
Current Status ◽  
Content Type ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Physical Assets ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose The success of every business depends to a large extent on its corporate real estate (CRE), given that, it is the physical assets that support its operations. To achieve this success, organizations must adopt a strategic approach to CRE management. The purpose of this paper is to examine the extent of adoption of strategic corporate real estate management (SCREM) practice in Ghana based on the views of CRE managers. Design/methodology/approach The embedded mixed method approach was adopted for the study. In total, 72 CRE managers were selected from 35 institutions in 5 sectors (tertiary education, health, banking, security and service industry) where real estate is a requirement for accreditation using a multi-stage sampling technique. Findings An analysis of the existing practices underpinning SCREM in Ghana showed that SCREM has not been adopted completely in Ghanaian institutions. No organization has a complete systematic structure in place for SCREM as the practice is evolving. This finding correlates the global trend that CRE is not strategically managed like other corporate resources. Practical implications Current SCREM practices in Ghana, as divulged by this research, provide useful insight into the current status quo of SCREM and what must be done to ensure that CRE achieves its attribute of value adding. Originality/value The paper outlines the elements of SCREM practice, adding to the limited literature on the practice in Ghana and worldwide. It also sets the stage for further research in SCREM practice and CRE performance.

Artificial intelligence and real estate - not just an evolution, a real game changer!

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marcelo Cajias
Keyword(s):  
Artificial Intelligence ◽  
Real Estate ◽  
New Technologies ◽  
Current Status ◽  
Real Estate Industry ◽  
Expiry Date ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Analyse Data

PurposeDigitalisation and AI are the most intensively discussed topics in the real estate industry. The subject aims at increasing the efficiency of existing processes and the institutional side of the industry is really interested. And in some ways, this is a breakthrough. This article elaborates on the current status quo and future path of the industry.Design/methodology/approachThe real estate industry is evolving, and parts of the business are increasingly being conquered by “proptechs” and “fintechs”. They have come into real estate to stay not because they discovered inefficiencies in the way one manages and does business with real estate, but because they come with an arsenal of new technologies that can change the whole game. The article discusses a path for changing the game in real estate.Findings“location, location, location” has now evolved to “data, data, data”. However, there is one essential aspect that must be considered before the latter can become the real value creator: the ability of market players to analyse data. And this does not mean being an excellent Excel user. The near future sees a solution called Explainable Artificial Intelligence (XAI) meaning that the econometric world constructed decades ago has an expiry date.Originality/valueOne needs to delete two myths from their mind: data quantity is proportional to accurate insights and that bringing your data to a cloud will deliver you with all the insights your business needs almost immediately.

scholarly journals Information for decision-making in in-house and outsourced real estate management organisations

Facilities ◽  
2016 ◽  
Vol 34 (13/14) ◽  
pp. 891-905 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Decision Maker ◽  
Commercial Real Estate ◽  
Decision Makers ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Estate Management ◽  
Real Estate Management

Purpose The purpose of this paper is to examine how the real estate owner (decision maker) insures being able to make informed decisions and how they differ according to organisational form. Design/methodology/approach This research is based on an interview study of nineteen firm representatives, six decision makers and thirteen management representatives, all from Swedish commercial real estate sector. Findings The study concludes that, regardless of organisational setting, the industry has a plan regarding handling information. The decision makers have all secured themselves access to the required/desired information. How this is done and what kind of information it is however differ, if the real estate management is in-house or outsourced. Furthermore, a clear focus on financial and contractual information is evident in both organisational settings. Research limitations/implications The research in this paper is limited to Swedish commercial real estate sector. Practical implications The insight the paper provides regarding required information can shed light on how information systems are built and how to improve your information sharing. Originality/value It provides an insight regarding how the industry, depending on organisation setting, prioritises different information and how the decision maker secures access to it.

scholarly journals Managing the workplace in a globalized world

Facilities ◽  
2014 ◽  
Vol 32 (13/14) ◽  
pp. 744-760 ◽  
Author(s):  
Evelien B. Plijter ◽  
Theo J.M. van der Voordt ◽  
Roberto Rocco
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
National Culture ◽  
Cultural Dimensions ◽  
National Cultures ◽  
Content Type ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose – The purpose of this study is to provide a better insight into the role of national cultures on the management and design of workplaces of multinationals in different countries. Design/methodology/approach – This explorative study is based on an extensive literature review of dimensions of a national culture in connection to corporate real estate management, interviews with ten representatives of multinationals on corporate real estate strategies and workplace characteristics and a multiple case study of two multinational firms with site visits and observations at offices in The Netherlands, Germany and Great Britain. Findings – Whereas all interviewed companies had their real estate portfolio to some extent aligned to the local national culture, none had a strict central policy about this issue. Differences in workplace characteristics were mainly caused by the involvement of local people in workplace design. Using Hofstede’s cultural dimensions, the case studies showed relationships between masculinity of a culture and the expression of status and between uncertainty avoidance and openness to innovation; however, no relationships were found related to differences in power distance and short-/long-term orientation. Research limitations/implications – The case studies were conducted in three European Union countries. Due to practical reasons, most interviewees were Dutch. Additional empirical research including more different national cultures is needed to advance more unequivocal conclusions and to develop a clear set of guidelines for decision-making. Practical implications – The findings stress the importance of finding a balance between aligning facilities to business purposes and meeting the needs of different (groups of) employees in multinational environments. Originality/value – Although much has been written about national culture, not much research is yet available in connection to facilities management and corporate real estate management.

Towards a more professionalised municipal real estate management

2016 ◽  
Vol 18 (2) ◽  
pp. 132-144 ◽  
Author(s):  
Annette van den Beemt-Tjeerdsma ◽  
Jan Veuger
Keyword(s):  
Real Estate ◽  
Quantitative Research ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Design Collaboration ◽  
Estate Management ◽  
Definition Of ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose The purpose of this study is to see how a more developed discipline – corporate real estate management (CREM) – can add value to a less developed discipline – municipal real estate management (MREM) – to contribute to their professionalisation. Design/methodology/approach Every year since 2008 (except for 2013), municipalities have been asked to complete a questionnaire on how they manage their real estate. With these results, it is possible to perform quantitative analyses on both trends and the current situation. In addition, municipalities’ descriptions of their real estate management have been analysed in a qualitative way. Findings Municipalities are concentrating their real estate tasks in the municipal organisation to link their real estate, their policies and the citizens/tenants. Remarkable is the diversity of the functions and the broad definition of “the real estate employee” (organisational structure). Municipalities make strategic and organisational changes that aim to improve both the real estate portfolio and the municipal organisation (operations). The next years, municipalities will focus in particular on vacancy rates, organisation design, collaboration, ownership and the sustainability of the portfolio (direction). Originality/value Qualitative and quantitative research are combined to compare theory with practice on CREM and MREM. The results contribute to the professionalisation of Dutch municipalities.

scholarly journals Corporate real estate management and companies’ success: empirical evidence for a conceptual framework

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Andreas Pfnuer ◽  
Julian Seger ◽  
Rianne Appel-Meulenbroek
Keyword(s):  
Real Estate ◽  
Multidimensional Data ◽  
Business Success ◽  
Content Type ◽  
Corporate Real Estate ◽  
Data Scaling ◽  
Holistic Concept ◽  
Estate Management ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose The purpose of this study is to explain the contribution of Corporate Real Estate Management (CREM) to corporate success and to substantiate it empirically. However, no empirically tested holistic concept classifies and explains the different success contributions of CREM in their mechanisms of action and organisational levels. Design/methodology/approach This study develops a holistic two-dimensional model from existing literature to explain the relationship between CREM decisions and business success, and then tests it empirically using multidimensional data scaling from a telephone company survey (CATI) of 59 CREM managers sampled from the 200 largest German companies. Findings The created theoretical model holistically explains CREM success and existence as part of a non-property company, with specific performance drivers on specific organisational levels. The empirical data confirm that both dimensions of the model and, thus the measurement concept for modelling the CREM contribution to business success is robust across sectors and company/portfolio size in Germany. Originality/value The empirical confirmation of the conceptual model of CREM success provides novel support for the institutionalisation of the CREM function in companies and the holistic classification of different CREM research directions.

Understanding organizational culture through the lens of corporate real estate strategies

2019 ◽  
Vol 35 (2) ◽  
pp. 19-21
Keyword(s):  
Organizational Culture ◽  
Real Estate ◽  
Design Methodology ◽  
Reading Time ◽  
Content Type ◽  
Corporate Real Estate ◽  
Pertinent Information ◽  
Real Estate Management ◽  
Corporate Real Estate Management ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This research paper concentrates on ways in which corporate real estate management and organizational culture inter-relate. Clan and adhocracy organizational culture companies prioritize investing in the employee’s experience of the workplace, as opposed to market and hierarchy organizational culture enterprises that maintain a stable procedural focus on reducing real estate costs. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Organizational workplace relocation: assessment of facilities and real estate managers' practices

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ahmed M. Ibrahim ◽  
Mohammad A. Hassanain
Keyword(s):  
Real Estate ◽  
Design Methodology ◽  
Decision Makers ◽  
Facilities Management ◽  
Comprehensive Understanding ◽  
Content Type ◽  
Face To Face ◽  
Real Estate Management ◽  
Key Aspects ◽  
Practical Implications

PurposeThis research investigates the literature and perspectives of bilateral domains of experts, the facilities management (FM) and real estate management (REM) professionals. It provides insights towards a comprehensive understanding of office facilities relocation as organizational workplaces.Design/methodology/approachAn investigation of the literature was conducted, to identify design aspects, drivers, challenges, and technical and functional considerations of the workplace relocation. A structured survey was utilized, as face-to-face interviews with 32 FM and 32 REM professionals, to explore and compare their perspectives and expertise.FindingsThe study identified key aspects for workplace relocation that were rarely focused on, holistically, in the literature. The research led to identifying the drivers, challenges, considerations, scenarios, and design needs pertaining to the implementation, acquisition, and occupation of the workplace in times of relocation. There is a dispersed view on workplace relocation between FM and REM, which requires alignment. FM and REM experts' perspectives were intrinsically discussed to ascertain the identified key areas.Practical implicationsWorkplace relocation is a change that disturbs almost every workplace around the globe, at least once in its life cycle. This study enlists comprehension of the knowledge obtained from a review of the international literature, to provide a holistic guide for organizational decision makers, and interlink FM and REM professionals' perspectives, for enhanced decision-making.Originality/valueThis article reviews the literature on workplace relocation, covering FM and REM domains perspectives to advance the organizational workplace relocation practices.

scholarly journals Australian Real Estate Management and Development companies and women directors

2016 ◽  
Vol 34 (1) ◽  
pp. 18-28 ◽  
Author(s):  
Bill Dimovski ◽  
Luisa Lombardi ◽  
Christopher Ratcliffe ◽  
Barry John Cooper
Keyword(s):  
Real Estate ◽  
Stock Exchange ◽  
Executive Directors ◽  
Women Directors ◽  
Content Type ◽  
Listed Firms ◽  
Management And Development ◽  
Estate Management ◽  
Board Representation ◽  
Real Estate Management

Purpose – There is a large literature advocating the importance of a greater proportion of women directors on boards of publicly listed firms. The purpose of this paper is to examine the numbers and proportions of women directors, including women executive directors, on listed Australian Real Estate Management and Development (REMD) companies to identify how prevalent women directors are on such boards. Design/methodology/approach – The study examines the numbers and proportions of women directors for 35 REMDs in 2011 and compares this to the broad board composition data on 1,715 Australian Stock Exchange listed entities. Statistically significant findings are evident due to the identified low proportions. Findings – The study finds that of all the Financials Sub Industry sector groups, REMDs have the lowest proportion of female directors on theirs boards – eight women on each of 35 company boards compared to 159 men on these 35 boards at 2011. Of the eight, there were only two women executive directors on boards compared to 50 men. Statistically, it appears that having women directors on REMD boards is not considered important. Even at December 2014, there are only ten women on seven company boards and only one remaining executive director of an REMD company. Practical implications – Given that female board representation is positively related to accounting returns and that there is a growing voice for legislation to impose mandatory proportions of women directors on boards around the world, it may be in the interests of REMD boards to consider appointing more women more quickly. Originality/value – The study is the first to examine the numbers and proportions of women directors amongst REMD companies to identify the paucity of such women directors.

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