The Pathway to Decarbonisation - Tracking Carbon Emissions and Reducing Stranding Risks within the Commercial Real Estate Sector

2019 ◽  
Author(s):  
Sven Bienert ◽  
Jens Hirsch ◽  
Maximilian Spanner
Keyword(s):  
Real Estate ◽  
Carbon Emissions ◽  
Commercial Real Estate ◽  
Real Estate Sector

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 Measuring customer satisfaction: a study of the Swedish real estate industry

2016 ◽  
Vol 34 (4) ◽  
pp. 316-331 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Design Methodology ◽  
Commercial Real Estate ◽  
Signal Quality ◽  
Organisational Development ◽  
Real Estate Industry ◽  
Content Type ◽  
Real Estate Sector ◽  
Customer Evaluations ◽  
Practical Implications

Purpose – The purpose of this paper is to identify the strategies of formal customer evaluations and the use of satisfied customer index in the Swedish commercial real estate industry. Design/methodology/approach – This research is based on an inventory of 24 commercial real estate companies use of formal customer evaluations and an analysis of 15 interviews with top-level managers in the Swedish commercial real estate sector. Findings – Only half of the companies included in the study conduct formal evaluations, although they are considered to work customer oriented. Two different strategies for using formal evaluations is, for improvement work and for signalling quality. One proposed explanation to why only half of the companies conduct formal evaluations is the possibility that the official Swedish Real Estate Barometer is not sufficient if the company would like to use the result for organisational development. There are instead indications that this barometer mainly is used in publicity and marketing purpose, to signal quality. Research limitations/implications – The research in this paper is limited to Swedish commercial real estate sector. But, the overall strategies for conducting formal evaluations should be applicable in general. Practical implications – The insight the paper provides regarding how the industry perceive the Swedish Real Estate Barometer gives direct implications of improvements of the barometer. Originality/value – It provides an insight regarding the use of formal customer evaluations and a proposition of how the Swedish Real Estate Barometer could be changed to better support and fulfil the aim of being a barometer for benchmarking.

scholarly journals Real Estate and the Effects of the COVID-19 Pandemic in Europe

2020 ◽  
Author(s):  
Gianluca Mattarocci ◽  
Simone Roberti
Keyword(s):  
Real Estate ◽  
Commercial Real Estate ◽  
Disposable Income ◽  
Economic Environment ◽  
Site Visit ◽  
Real Estate Industry ◽  
The Real ◽  
The Real Estate ◽  
Building Type ◽  
Real Estate Sector

The real estate industry was severely affected by the COVID-19 in both the residential and the commercial sectors due to travel and site-visit limitations, rent sustainability issues and a decrease or higher uncertainty about disposable income. During the lockdown, houses became more important and were analysed in depth. It can be assumed that a new demand could emerge after this crisis making households looking for more comfortable houses since this asset will increase its importance for living and working. Similarly, the commercial real estate sector will change due to lower rent sustainability. However, the main expected change is related to the building type and the standards requested by tenants in the new economic environment.

The Carbon Risk Real Estate Monitor—Developing a Framework for Science-based Decarbonizing and Reducing Stranding Risks within the Commercial Real Estate Sector

2019 ◽  
Vol 11 (1) ◽  
pp. 174-190
Author(s):  
Jens Hirsch ◽  
Maximilian Spanner ◽  
Sven Bienert
Keyword(s):  
Climate Change ◽  
Real Estate ◽  
Financial Risk ◽  
Assessment Tool ◽  
Energy Performance ◽  
Commercial Real Estate ◽  
Financial Risks ◽  
Building Stock ◽  
Carbon Reduction ◽  
Real Estate Sector

Key obstacles to achieving the ambitious decarbonization targets determined in the Paris Agreement include the poor energy efficiency of the European commercial real estate sector and excessively low refurbishments rates due to uncertainty and a lack of transparency regarding future regulatory guidelines. This paper introduces the Carbon Risk Real Estate Monitor (CRREM), aimed at accelerating decarbonization and climate change resilience by clearly communicating the downside financial risks associated with poor energy performance buildings, and quantifying the market implications of climate change on the building stock. Science-based emission targets serve as a theoretical foundation for providing the industry with appropriate carbon reduction pathways for particular buildings at the portfolio and company levels. A key outcome of this project is a quantitative and qualitative financial risk assessment tool. The aim is to optimize industry investments in energy-efficient retrofits by making risks more transparent and by revealing opportunities for property owners and investors. The CRREM tool enables the industry to assess stranding risks, accelerating the decarbonization of the EU building stock to “2-degree readiness” (2DR) and make real estate portfolios “future proof.”

Cognitive bias, intuitive attributes and investment decision quality in commercial real estate in Uganda

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Moses Munyami Kinatta ◽  
Twaha Kigongo Kaawaase ◽  
John C. Munene ◽  
Isaac Nkote ◽  
Stephen Korutaro Nkundabanyanga
Keyword(s):  
Real Estate ◽  
Loss Aversion ◽  
Cognitive Bias ◽  
Investment Decision ◽  
Commercial Real Estate ◽  
Decision Quality ◽  
Content Type ◽  
Real Estate Sector ◽  
Confidence Degree ◽  
The Relationship

PurposeThis study examines the relationship between investor cognitive bias, investor intuitive attributes and investment decision quality in commercial real estate in Uganda.Design/methodology/approachA cross-sectional research survey was used in this study, and data were collected from 200 investors of commercial real estate in Uganda using a structured questionnaire. Hierarchical regression analysis was used to test the hypotheses derived under this study.FindingsThe results indicate that investor cognitive bias and investor intuitive attributes are positive and significant determinants of investment decision quality in commercial real estate. In addition, the two components of Investor cognitive bias (framing variation and cognitive heuristics) are positive and significant determinants of investment decision quality, whereas mental accounting is a negative and significant determinant of investment decision quality. For investor intuitive attributes, confidence degree and loss aversion are positive and significant determinants of investment decision quality, whereas herding behavior is a negative and significant determinant of investment decision quality in commercial real estate in Uganda.Practical implicationsFor practitioners in commercial real estate sector should emphasize independent evaluation of investment opportunities (framing variation), simplify information regarding investments (Cognitive heuristics), believe in own abilities (Confidence degree), be risk averse (loss aversion) and avoid making decisions based on subjective visual mind (mental accounting) and group think/herding in order to make quality investment decisions. For policymakers, the study has illuminated factors such as provision of reliable information that ought to be taken into account when promulgating policies for regulation of the commercial real estate sector. This will help investors to come up with investment decisions which are plausible.Originality/valueFew studies have focused on investor cognitive bias and investor intuitive attributes on investment decision quality in commercial real estate. This study is the first to examine the relationship, especially in the commercial real estate sector in a developing country like Uganda.

Features of Retail Real Estate Market Dynamics in the North-Caucasian Region

10.12737/2490 ◽  
2014 ◽  
Vol 2 (3) ◽  
pp. 19-23
Author(s):  
Моргунова ◽  
Yelyena Morgunova
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Essential Role ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
The Other ◽  
The North ◽  
Regional Market ◽  
Real Estate Sector ◽  
Great Development

The commercial real estate market has a great development potential in this country. The author evaluates current developments at the regional market of retail real estate and its specifics inherent to the Southern Regions of Russia. Domestic market plays an essential role in the national economy, as a crucial factor of the of economic development pace. In many regions the commercial real estate sector demonstrates the highest development rates as compared to the other sectors of economy. The commercial real estate sector is also considered as the most attractive for investments. These factors emphasize the urgency of the presented research.

scholarly journals Incentives in Swedish commercial real estate companies: the property manager function

2017 ◽  
Vol 35 (2) ◽  
pp. 150-164 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Effective Property ◽  
Commercial Real Estate ◽  
Property Management ◽  
Real Estate Industry ◽  
Content Type ◽  
Management Level ◽  
Real Estate Sector ◽  
Work Tasks ◽  
Management Organisation

Purpose The purpose of this paper is to identify factors on the property management level for analysing incentives for an effective property management with a focus on organising it in-house. Design/methodology/approach This research is based on an interview study of 11 firm representatives from the Swedish commercial real estate sector with in-house property management. Findings The study concludes that the property management organisation in the in-house setting is governed in an informal way, with a large portion of “freedom with responsibilities” setup instead of regulations. Research limitations/implications The research in this paper is limited to the Swedish commercial real estate sector. Practical implications The insights into the paper regarding how decision makers create incentives for the property management organisation can provide inspiration to design incentives for effort. Originality/value It provides an insight regarding how the commercial real estate industry prioritises different work tasks and how incentives are created to enable effort.

What is smart? A real estate introduction to cities and buildings in the digital era

2019 ◽  
Vol 44 (3) ◽  
pp. 128-137 ◽  
Author(s):  
Patrick Lecomte
Keyword(s):  
Real Estate ◽  
Smart Grids ◽  
Smart Cities ◽  
Urban Environments ◽  
Commercial Real Estate ◽  
Smart Buildings ◽  
The Real Estate ◽  
Digital Era ◽  
Real Estate Sector ◽  
Property Type

This article introduces the concepts of smart cities and smart buildings from the viewpoint of commercial real estate. It summarizes the current academic thinking on how the widespread implementation of digital technologies embodied by smart grids and digital skins impacts cities and buildings in two classic smart city models: ubiquitous city and augmented city. It then explores the consequences of these innovations on commercial real estate at both the city and building levels. In doing so, it presents the concept of a new “omni-use” property type whose characteristics derive from ubiquitous computing in smart urban environments. It also proposes guidelines for smart building scores to define a methodology relevant to the real estate sector and conducive to constructing price indices of smart buildings. It concludes by stressing the dominating role that technology will play in defining property heterogeneity in the digital era.

scholarly journals Real estate management: incentives for effort

Facilities ◽  
2017 ◽  
Vol 35 (9/10) ◽  
pp. 573-587
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Commercial Real Estate ◽  
Decision Makers ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Work Tasks ◽  
Estate Management ◽  
Real Estate Management

Purpose The aim of this paper is to examine how the real estate owner (decision maker) can ensure that the preferred tasks are prioritised. In particular, the incentives to ensure motivation to perform to accomplish the strategic goals of the decision maker are investigated. Design/methodology/approach This research is based on an interview study of 19 firm representatives, 6 decision makers and 13 management representatives, all from the Swedish commercial real estate sector. Findings The study concludes that the real estate management organisation in the outsourced management setting is governed by the contract, in detail constituting work tasks, and in the in-house management setting, there is freedom with responsibilities instead of regulations. Research limitations/implications The research in this paper is limited to Swedish commercial real estate sector. Practical implications The insight in the paper regarding how decision makers create incentives for the real estate management organisation in the different organisational settings can provide inspiration to design incentives for effort. Originality/value It provides an insight regarding how the industry, depending on organisation setting, prioritise different work tasks and how incentives are created to enable effort.

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