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Article
Publication date: 9 May 2016

Annette van den Beemt-Tjeerdsma and Jan Veuger

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

Abstract

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.

Details

Journal of Corporate Real Estate, vol. 18 no. 2
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 4 September 2017

Rikke Brinkoe and Susanne Balslev Nielsen

The purpose of this study is through collaboration with practitioners to identify key characteristics of municipal shared spaces and, based on these, developing a guide for…

Abstract

Purpose

The purpose of this study is through collaboration with practitioners to identify key characteristics of municipal shared spaces and, based on these, developing a guide for establishing a shared space in a municipal real-estate portfolio.

Design/methodology/approach

This paper builds on existing theory on the subject of shared space as well as the practical experience of professionals within the fields of property management, space management and facilities management. The guide presented is the result of data collected through case studies, interviews, surveys and literature reviews. This knowledge is combined with data collected through a workshop with practitioners from municipalities and the private sector, to provide a final guide that is directly applicable as a tool for working with shared space as a part of a property management strategy.

Findings

The result presented is a guide to establishing a shared space in a municipal real-estate portfolio, created in collaboration between researchers and practitioners. It provides an introduction to the topic and outlines a number of tasks that must be completed in different parts of a project, thereby providing a tool which practitioners can use to realise shared space as a strategy in the context of public real-estate management.

Originality/value

The guide presented is a first in connecting theory with practical application and through collaboration between researchers and practitioners, creating a tool to be used when working with shared space in a municipal real-estate portfolio.

Details

Journal of Facilities Management, vol. 15 no. 4
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 28 January 2014

Christos Pallis and Petros Pallis

The concept was that municipal real estate was an asset which consisted of a combination of measurable and hard-to-estimate returns (including social benefits) rather than a…

Abstract

Purpose

The concept was that municipal real estate was an asset which consisted of a combination of measurable and hard-to-estimate returns (including social benefits) rather than a public good. Many local government organizations attempted to capitalize and assess real estate, with a view to generating revenue for local authorities. Others proceeded to use direct private sector financing for the construction of municipal infrastructure, in exchange for the right to use public land for commercial development purposes. In Greece, the institutional framework for local government organizations prevented local government from playing an essential role, because of their limited powers and financial resources. There are two key questions coming up within this context, which are the main subject of the research: What are the financing instruments used by municipalities today? What are the financing instruments that municipalities would like to use today? No research has been done so far on the above questions at such sample level as used in the research, i.e. all the municipalities in the territory of Greece. The paper aims to discuss these issues.

Design/methodology/approach

The paper presents the literature review of the property management and the methodology of an empirical research through structured questionnaire that was sent to the entire population of Greek municipalities.

Findings

The main findings regard the financial instruments used by the Greek municipalities and funding schemes from various sources. Apart from these funding sources which Greek cities actually use, the present research has investigated the sources of funding that municipalities would like to use.

Practical implications

The paper consists a detailed road map for practical public management.

Originality/value

The questionnaire was sent to the entire population of Greek municipalities, characterized in this way with considerable heterogeneity. The sample equals the whole population, which has been investigated for the first time, regarding the Greek Paradigm.

Details

Journal of Property Investment & Finance, vol. 32 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 1 March 2019

Naana Amakie Boakye-Agyeman and John Tiah Bugri

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…

Abstract

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.

Details

Property Management, vol. 37 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Content available
Article
Publication date: 9 May 2016

Theo J.M. van der Voordt

488

Abstract

Details

Journal of Corporate Real Estate, vol. 18 no. 2
Type: Research Article
ISSN: 1463-001X

Article
Publication date: 6 October 2021

Naana Amakie Boakye-Agyeman, John Tiah Bugri and Frank Gyamfi-Yeboah

Research shows that strategic corporate real estate management (SCREM) practice contributes to organizational performance. However, globally, SCREM practice is hindered by…

Abstract

Purpose

Research shows that strategic corporate real estate management (SCREM) practice contributes to organizational performance. However, globally, SCREM practice is hindered by numerous challenges especially in developing countries such as Ghana. This study examines the challenges of SCREM practice in Ghana from business and corporate real estate managers’ perspectives.

Design/methodology/approach

A mixed-method design was adopted for the study. The largely quantitative study was supported with qualitative data. The multi-stage sampling technique was used to select respondents from 35 institutions in five sectors. The relative importance index, consensus/agreement framework and Mann–Whitney U test were used for analysis.

Findings

Analysis revealed that there is latent resistance to the provision of CRE policy, adequate authority and resources as well as resistance to change in organizational culture for the adoption of SCREM practice. The CRE management function is thus not well integrated into corporate activities. It is seen as a non-core organizational function merely providing physical space and support services.

Practical implications

The research has identified the challenges of SCREM and how these could be addressed to ensure that CRE is managed strategically to contribute effectively to organizational performance.

Originality/value

The paper is the first to identify the challenges of SCREM practice from business and CRE managers’ perspective in five sectors in Ghana, thus contributing to the limited literature on the subject globally.

Details

Property Management, vol. 40 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 11 May 2020

Olga Kaganova and Judith Meira Amoils

There is shortage of global research on asset management (AM) by various central governments. This paper aims at reducing this gap.

Abstract

Purpose

There is shortage of global research on asset management (AM) by various central governments. This paper aims at reducing this gap.

Design/methodology/approach

This general review is based on literature, published government documents, agendas of specialized membership organizations (considered through the qualitative thematic analysis) and the authors’ experiences in advising governments on AM in 30 countries. The study focuses on three topics of recurrent interest among governments and AM experts: drivers of change and response trends; organizational models and attributes of good governance at public AM organizations. It also discusses whether the examined practices conform with New Public Management (NPM).

Findings

The paper identifies five key international drivers of change: austerity measures; an increased focus on performance management; changes in political and ideological agendas; technology and business operations changes; and the environmental sustainability agenda. It analyses response trends to these drivers, both positive and negative. Five dimensions of organizational settings that are important for AM are identified, demonstrating the great diversity of practices. The paper outlines governance elements specific to government AM and illustrates related challenges. It also shows that while current AM typically conforms with NPM, there are notable deviations, such as low corporatization and recentralization of AM.

Research limitations/implications

This paper is a broad review; in-depth study of specific aspects is left for further research.

Originality/value

The paper introduces new empirical knowledge about AM approaches at central governments into research discourse, with a broad thematic coverage not achieved before; contributes to the discussion of some hot underexplored topics; hypothesizes why current AM practices deviate from NPM doctrines; and provides unique insights for AM practitioners.

Details

Journal of Corporate Real Estate , vol. 22 no. 3
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 26 February 2019

Vágner Egídio Velho Júnior, Isotilia Costa Melo, Paulo Nocera Alves Junior and Daisy Aparecida do Nascimento Rebelatto

The purpose of this paper is to characterize real estate lease management of the São Paulo City Municipality (PMSP), the largest metropolitan region in Latin America, for the…

Abstract

Purpose

The purpose of this paper is to characterize real estate lease management of the São Paulo City Municipality (PMSP), the largest metropolitan region in Latin America, for the provision of public education, health and social assistance services.

Design/methodology/approach

In addition, the management was also evaluated by a direct analysis of the obtained data (lease paid, area of the property, agency, zone, region, neighborhood, contract date, etc.) and by statistical regressions.

Findings

The results showed that the following: real estate properties with the greatest discrepancy of amounts paid (when compared to other amounts paid by the city and the market) are in a pulverized category, called “Others”; PMSP faces difficulties tracking expiration dates, 18.9% of the assets are still in use, though present expired contracts; the category “Education” is the most expressive in expenses; there is a limit to the correlation between the size of the real estate and the lease price paid, and very large real estate do not have proportionally higher leases; the location only directly affects the lease value if it is in the central region of the Metropolis. There is no explicit relationship for leases in other regions.

Originality/value

This work is groundbreaking for helping to consolidate the literature on real estate management in developing countries. Factors that integrate and influence the management of real estate leases for government agencies in a Latin American metropolitan area have never before been reported in the literature.

Details

Journal of Financial Management of Property and Construction , vol. 24 no. 1
Type: Research Article
ISSN: 1366-4387

Keywords

Book part
Publication date: 20 March 2001

Abstract

Details

Edwin Seligman's Lectures on Public Finance, 1927/1928
Type: Book
ISBN: 978-1-84950-073-9

Article
Publication date: 18 October 2011

Carlo Vermiglio

This article aims to present an overview of the main issues related to public real estate management in Italian local governments and to define a reliable approach for the…

1495

Abstract

Purpose

This article aims to present an overview of the main issues related to public real estate management in Italian local governments and to define a reliable approach for the employment of real estate properties during the time.

Design/methodology/approach

The research defines a theoretical framework that takes under consideration the “key variables” that affect the strategic management of a real estate asset portfolio. The suggested approach may help public managers in the decision‐making process, enhancing the performance of the organization and the accountability in favor of the stakeholders.

Findings

The results demonstrate that there are still several omissions in the management of these assets and that strategies adopted have not been centered on a preliminary analysis of the financial, economic and social fallouts in the mid‐long term, mainly answering to short‐term political needs and budgetary constraints. Unlike experiences developed in other European countries, in Italy the main answer was the divestment of real estate assets, assumed as a “first best solution”.

Practical implications

The article suggests a systemic and multidimensional approach for the management of a real estate portfolio and aims at developing a depth of knowledge in a field such as public property management, which can still be considered essentially unexplored by Italian literature.

Originality/value

The paper emphasizes the strategic relevance of the subject for politicians, managers, technicians and researchers involved in the management of a real estate portfolio.

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