scholarly journals Governing investors and developers: Analysing the role of risk allocation in urban development

Urban Studies ◽  
2021 ◽  
pp. 004209802110178
Author(s):  
Frances Brill
Keyword(s):  
Real Estate ◽  
Private Sector ◽  
Urban Development ◽  
Urban Governance ◽  
Rental Housing ◽  
Risk Allocation ◽  
Housing Provision ◽  
Institutional Investment ◽  
Housing Systems ◽  
Governance Analysis

This article argues that urban governance, and academic theorisations of it, have focused on the role and strategies of real estate developers at the expense of understanding how investors are shaped by regulatory environments. In contrast, using the case of institutional investment in London’s private rental housing (Build to Rent), in this article I argue that unpacking the private sector and the development process helps reveal different types of risk which necessitate variegated responses from within the real estate sector. In doing so, I demonstrate the complexities of the private sector in urban development, especially housing provision, and the limitations of a binary conceptualised around pro- and anti-development narratives when discussing planning decisions. Instead, I show the multiplicity of responses from within the private sector, and how these reflect particular approaches to risk management. Uncovering this helps theorise the complexities of governing housing systems and demonstrates the potential for risk-based urban governance analysis in the future.

Introduction

2020 ◽  
pp. 1-16
Author(s):  
Xuefei Ren
Keyword(s):  
Civil Society ◽  
Private Sector ◽  
Urban Development ◽  
Local Governments ◽  
Urban Governance ◽  
Chinese City ◽  
Ethnographic Fieldwork ◽  
China And India ◽  
Historical Comparative ◽  
Alliance Building

This chapter focuses on urban governance in China that exhibits a territorial logic centered on territorial institutions and authorities, such as local governments and officials. It also talks about urban governance in India that features an associational logic and contingent on alliance building among the state, the private sector, and civil society groups. With historical comparative analyses and ethnographic fieldwork, the chapter explains how the territorial and associational approaches to governing cities in China and India are contested and how both approaches have produced new forms of inequality and exclusion. It analyzes the Chinese city by juxtaposing urban development in China with India. It confirms why India is the only other continent-sized country experiencing a similar scale of urbanization to China.

scholarly journals Complexity and coordination in London’s Silvertown Quays: How real estate developers (re)centred themselves in the planning process

2019 ◽  
Vol 52 (2) ◽  
pp. 362-382
Author(s):  
Frances Brill
Keyword(s):  
Public Sector ◽  
Real Estate ◽  
Private Sector ◽  
Urban Governance ◽  
Planning Process ◽  
The Public ◽  
Relational Work ◽  
Development Organizations ◽  
Multiple Levels ◽  
Real Estate Developers

This paper contributes to existing research on the relational work of real estate developers to demonstrate how internal corporate complexities create opaqueness in governance settings and limit potential community engagement. This work is particularly pertinent at a time when there is renewed interest in the private sector, yet very little analysis that begins from the perspective of the developer. Drawing on the example of London’s Silvertown, this paper shows how the strategies of development organizations evident in existing research, including their work with the public sector, communities and experts, require multiple levels of internal coordination. I argue that because of these sub-centres of power, developers are able to maintain a more deeply entrenched centrality in urban governance.

Plurality of expert knowledge: public planners’ experience with urban contractualism in Amsterdam

2019 ◽  
pp. 47-58
Author(s):  
Tuna Taşan-Kok ◽  
Martijn van den Hurk
Keyword(s):  
Private Sector ◽  
Urban Development ◽  
Urban Governance ◽  
Expert Knowledge ◽  
Checks And Balances ◽  
The Public ◽  
Leading Role ◽  
Dutch Experience ◽  
Patterns Of Interaction ◽  
Deal Making

This chapter focuses on the Dutch planning experience in understanding how planners, as government actors, learn to deal with contracts in complex partnerships with private sector actors. It does so in order to question the technocratic logics of contemporary public–private partnerships (PPPs) focusing on an institutional context where public governments still retain a major leading role in planning for urban development but increasingly operate by devising financial agreements with the private sector. This chapter specifically looks at the use of ‘contracts’ in urban development. Consensus building in the Netherlands is the key approach in any decision-making process, implemented through the ‘polder model’, which is defined as harmonious patterns of interaction between social partners. The Dutch experience demonstrates very clearly that the ways of deal making, and the mechanism of checks and balances in this process, are very dynamic and reflect the changing dynamics of urban governance. This also means that public planners, very consciously, try to reposition themselves to safeguard the public interest.

scholarly journals New town development in Indonesia: Renegotiating, shaping and replacing institutions

2011 ◽  
Vol 167 (1) ◽  
pp. 60-85 ◽  
Author(s):  
Marleen Dieleman
Keyword(s):  
Private Sector ◽  
Urban Development ◽  
Urban Governance ◽  
Public Institutions ◽  
Public Infrastructure ◽  
Public And Private ◽  
New Town ◽  
Town Development ◽  
Basic Infrastructure ◽  
Public And Private Sector

This article explores how private sector players in new town development in Indonesia have worked around, shaped and replaced urban governance and planning institutions, effectively re-negotiating the boundaries between public and private sector. While most literature views urban development from the perspective of the state, this article complements this with a study of a prominent private sector player, the Ciputra Group. The results of the study suggest that private sector players have appropriated a much larger role in areas such as urban planning, constructing public infrastructure and urban governance than previously acknowledged. This could happen because public institutions were weak and unable to provide basic infrastructure and services to an increasing middle class. While most literature points at the lack of alignment of private developers with national priorities, this article suggests that a more nuanced view of the respective roles of public and private players in urban development in Indonesia is necessary.

scholarly journals Land Use Incentives for Real Estate Developers in Social Rental Housing Projects (Case study: Degla Gardens Project-October Gardens-Six October City)

2020 ◽  
Vol 9 (1) ◽  
pp. 83
Author(s):  
Abeer Ahmed Mohamed Abd-Elkawy
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Private Sector ◽  
Low Income ◽  
Social Housing ◽  
Rental Housing ◽  
Housing Demand ◽  
The State ◽  
Housing Projects ◽  
The Government

Social rental housing projects have emerged since 2016 to cover the housing demand of low-income groups, but these projects need high cost that beyond the financial capacity of some governments. Therefore, the World Bank reports in 2014 and 2018 pointed to the importance of including the private sector in low-income housing projects as a real estate developer instead of the state. The contribution of private sector and his successful experience in this field help in reducing the government spending towards these projects and achieving high quality in their implementation. For these reasons, many countries at international level involved the private sector in construction of social housing units in exchange for a set of incentives, which vary widely from one country to another. These incentives are classified into two main groups, the first one is financial and administrative incentives such as providing free land or selling it at low price, besides taxes and financing facilities as applied in Brazil, China, Singapore and Thailand. The second group is new incentives which called Land use incentives such as land use kind, percentage of land exploitation, proposed density and land use regulation in the housing project as applied in the United States, Japan and France because the previous financing incentives are not enough to achieve an appropriate profit for investors.At the local level, the private sector participated in many low-income housing projects such as Youth Housing, National Housing and social housing projects during the period from 1996 until now. In which the Egyptian government provided him some incentives like low price land, payment facilities, tax cuts and allocation part of land for his investment projects in exchange for building number of housing units with an area of (63 m2) for low-income groups. On the other hand, real estate companies retreated from participation in these projects because the incentives are unsatisfactory to them, which made the state played again the role of real estate developer to fill the gap in housing demand by using insufficient government budget.As a result of that, the Egyptian government is trying nowadays to re-engage the private sector again in future social housing projects by studying all submitted proposals from private sector in 2016, the World Bank in 2018 and the views of some institutions such as ministry of investment, ministry of housing and the Social Housing Fund in 2019 around the new incentives, especially after the state decided to withdraw from real estate development and leave it to the private sector by the year 2020. Hence, this paper tries to introduce the new incentives for private sector to participate again in social housing projects. The formulation of these incentives comes from revision the international experiences and reports as well as evaluating the applying of old incentives in one case study of participation housing projects (Degla Gardens project to find an integrated vision for suitable incentives in Egyptian reality that achieve the goals of all development parties ( the government-private sector-population).

scholarly journals Governing urban development in the Low Countries: From managerialism to entrepreneurialism and financialization

2018 ◽  
Vol 26 (4) ◽  
pp. 400-418 ◽  
Author(s):  
Jannes Van Loon ◽  
Stijn Oosterlynck ◽  
Manuel B Aalbers
Keyword(s):  
Real Estate ◽  
Urban Development ◽  
Urban Governance ◽  
Real Estate Market ◽  
Municipal Finance ◽  
Low Countries ◽  
Public And Private ◽  
The Real Estate ◽  
Post War ◽  
Private Actors

Has the post-war managerial approach to urban governance in the Netherlands and Flanders been replaced by more entrepreneurial and financialized forms? In this paper, we study the transformation of urban governance in the Low Countries through city case studies of Apeldoorn (Netherlands) and Antwerp (Belgium). We show how Dutch urban governance is financialized by connecting local public finance with financialized real estate markets through municipal land banks. However, inter-municipal financial solidarity and ring-fencing municipalities from financial markets create specific continental European processes of financialization. Flemish municipalities, in contrast, have shifted from a model of laissez-faire urban development (embedded in a system of large municipal autonomy) towards entrepreneurial urban growth regimes, in which technocratic public and private actors have increased access to public financial resources, which are used to create large urban renewal projects. In Belgium, autonomous municipal real estate corporations are a crucial instrument for connecting municipal finance to the real estate market.

PROBLEMS AND PROSPECTS FOR THE DEVELOPMENT OF THE MORTGAGE LENDING MARKET IN RUSSIA

2020 ◽  
Vol 2 (12) ◽  
pp. 64-69
Author(s):  
Yu. A. DVORETSKAYA ◽  
◽  
K. S. MAKHNOVSKAYA ◽  
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Mortgage Lending ◽  
Residential Real Estate ◽  
Housing Provision ◽  
Mortgage Loans ◽  
Socio Economic Development

In connection with the transition to market principles for solving the issues of housing provision, one of the significant problems of the socio-economic development of Russia has become the multiple gap between the size of current monetary receipts of citizens and the high cost of residential real estate. This article examines the features of the mortgage lending market in Russia, the problems and prospects of its development, provides and analyzes the statistics of mortgage loans.

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