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This paper seeks to identify the manner in which the knowledge management (KM) concept can be implemented in property management companies in Malaysia.

The KM strategies for property management companies were designed and then tested among the property management companies in Malaysia. Sixteen companies were involved in this research to provide empirical results of the KM concept implementation in property management organisations.

The research findings suggest that the KM concept is becoming increasingly important and that the property management companies are practising some of the relevant activities. The findings also integrate the concept of KM and property management activities.

The research is based only on 16 companies registered under the Board of Valuers, Appraisers and Estate Agents, Malaysia, which governs property management activities in Malaysia.

This paper proposes to property management players to put into practice the KM concept within their organisations.

The purpose of the study described in this paper was to explore with property and facilities managers to what degree they are able to achieve a good return for their organisations on PFM, and what might facilitate or inhibit that.

Semi‐structured interviews were held with 12 managers with significant experience of property and facilities management (PFM). A variety of industry sectors, and the public sector, were represented in the sample. Within these interviews, the researchers were able to explore the opinions of respondents and the qualitative data gathered provided interesting insight on the research topic.

This research identifies that in practice it is extremely difficult for companies to achieve a wide spectrum of added value from property and facilities. Property management may have a lower profile in organisations than it deserves, with a concentration on cost rather than opportunity. A sense of resignation may be created by long leases, which are still “the norm” in the UK. The literature review and primary research show dissatisfaction with long leases and a strong preference for more flexible arrangements with landlords. Flexibility is inextricably linked to the expectation of better return on property investment. The demand for flexibility is felt most acutely in economic recession, which causes organisations to consolidate space and manage property and facilities at a micro level.

This research was based on a relatively small sample size (12), collected from volunteer respondents in the south of the UK. On the basis of the findings, there is scope for further research on a larger scale, perhaps involving structured samples, quantitative data collection methods, and comparisons of the UK with a country where PFM choice is wider, such as the USA or Australia. Development of an economic model of the impact of flexibility on return on investment might be possible.

This paper provides a comprehensive discussion of how PFM is typically managed in the UK and how property and facilities managers would like to see it improve in the future.

This paper has identified an apparent suppressed demand for more flexibility in the property market in the UK. This could be of use to PFM suppliers in designing future offerings, and to the companies who use PFM services in articulating their requirements to suppliers.

The Alternative Investment Market (AIM) is an important UK growth-focused stock market. The purpose of this paper is to assess the significance, risk-adjusted performance and portfolio diversification benefits of property companies on the AIM stock market over 2005-2015. The post-Global Financial Crisis (GFC) recovery of property companies on AIM is highlighted, as well as their performance compared with property companies on the London Stock Exchange (LSE) main board.

Using monthly total returns, the risk-adjusted performance and portfolio diversification benefits of property companies on the AIM stock market over 2005-2015 are assessed and compared with a range of other asset classes. Sub-period analysis is used to assess the post-GFC recovery of the property companies on AIM.

Property companies on AIM delivered poor risk-adjusted returns over 2005-2015, with limited portfolio diversification benefits with the overall AIM stock market. However, since the GFC, property companies on AIM have delivered strong risk-adjusted returns, with improved portfolio diversification benefits with the overall AIM stock market. This post-GFC performance is shown to be more than a small cap effect, reflecting the property portfolios in these AIM property companies. Despite this strong post-GFC performance, the AIM property companies under-performed property companies on the LSE main board on a risk-adjusted basis.

AIM provides an important platform for property companies seeking start-up and growth opportunities in a less-regulated funding environment. This has been reinforced by strong risk-adjusted performance in a post-GFC context. However, the stronger risk-adjusted performance of LSE listed property companies and their superior scale, resources and higher quality property portfolios present challenges for increased investor support for the AIM property companies going forward.

This paper is the first published empirical research analysis of the risk-adjusted performance and diversification benefits of property companies on the AIM stock market. This research enables empirically validated, more informed and practical property investment decision-making regarding the strategic role of property companies on the AIM stock market in a portfolio.

The purpose of this paper is to assess the sustainability levels in terms of sustainability practices amongst public-listed property companies in Southeast Asia.

The websites and annual reports for each company were assessed to determine the level of sustainability practices amongst property companies in Southeast Asia. Their sustainability strategies were then rigorously assessed by using a scorecard which assesses sustainability levels based on related issues.

The results show that green or sustainable property development in Southeast Asian countries remains at a moderate level. There is still much room for improvement to enhance the level of green attributes in property development.

This paper only assesses property development companies in five Southeast Asian countries; namely, Singapore, Malaysia, Thailand, Indonesia and the Philippines.

Given the increasingly significant sustainability issues – especially amongst international property development players, this paper attempts to deliver better informed investment and decision-making ideas for sustainable property developments.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

The continuation of globalisation and liberalisation processes has prompted the restructuring of many national and local property markets. The research examines the evolution of Istanbul's retail property market to identify how global and local agents engage with one another to produce a unique “glocalized” outcome.

The morphogenetic approach is adapted and applied to analyse the dynamics of market change. The focus is on the character and behaviour of national and international market actors and how they interact with the wider political economy. The research uses a combination of elite interviews, document analysis and corporate case studies to obtain empirical evidence.

The liberalisation of the Turkish economy heralded the entry of the first international companies into Istanbul's retail property market in the 1990s. International involvement expanded rapidly after 2004, accelerating the process of market re-structuring. However, while the number of global buy-outs increased, the expansion of local property companies–and the establishment of some international/national corporate partnerships–was even more marked. This resulted in a “glocalised” market with a strong and distinctive local culture.

Istanbul has been a major centre of trade for millenia. This is the first substantive analysis of the recent restructuring of the city's retail property market. Previous research on market maturity and market evolution has paid limited attention to the dynamics of change. The paper describes the use of a process-based theoretical framework (morphogenesis) that was explicitly designed to analyse structural shifts in socio-economic conditions through an examination of the characteristics and behaviours of the actors involved.

Assessing the value of property management services is challenging because of collinearity between property quality and the quality of property management companies. In order to overcome this challenge and isolate the impact of property management services, the purpose of this paper is to use an experimental approach inspired by work in labor economics (Bertrand and Mullainathan, 2004) to measure the value of property management services for residential properties in Hong Kong.

The authors surveyed over 150 experts in the real estate industry and asked them to estimate the value of five hypothetical properties. In each survey, the authors randomly assign different property management companies, which we have ranked by levels of quality, to the properties. In this way the authors were able to test whether property management services significantly impact property prices and whether this impact varies across types of residential buildings.

Results show that property management does add value, especially to older and more dilapidated properties.

Findings suggest that there is money to be made by high-quality companies providing services for lower quality buildings.

The experimental survey methodology applied in this paper provides an innovative way to measure company value.

The purpose of this paper is to provide a brief for property occupiers who look to monitor trends in sustainability reporting. The paper offers a preliminary examination of the extent to which the UK’s leading commercial property companies are embracing the concept of materiality and commissioning independent external assurance as a part of their sustainability reporting processes and some wider reflections on materiality and external assurance in sustainability reporting.

The paper begins with a review of the characteristics of materiality and external assurance and an outline of the drivers for, and challenges to, sustainability for property companies. The information on which the paper is based is drawn from the leading UK property companies’ corporate websites.

The paper reveals that approximately half of the UK’s leading property companies had embraced materiality or commissioned some form of independent external assurance as an integral part of their sustainability reporting processes. In many ways, this reduces the reliability and credibility of the leading property companies’ sustainability reports. Looking to the future, growing stakeholder pressure may persuade more of the UK’s leading property companies to embrace materiality and commission external assurance as systematic and integral elements in the sustainability reporting process.

The paper provides an accessible review of the current status of materiality and external assurance among the UK’s leading commercial property companies’ sustainability reporting. As such, it will not only interest occupiers but also professionals, practitioners, academics and students interested in sustainability in the property industry.

Hong Kong is one of the most dynamic property markets in the world, and now provides the economic gateway to China. Using style analysis, the level of direct property in Hong Kong property company performance is shown to be approximately 15 per cent over 1984‐2000, with the level of direct property increasing to approximately 25 per cent in recent years. The level of direct property in Hong Kong property company performance is significantly below that seen for the USA, Europe and Australia. This highlights a number of key strategic property investment issues over 1984‐2000, relating to the level of direct property in Hong Kong property company performance. Also assesses the level of direct property at the individual property company level, as well as the property company sector level, further emphasising the strategic role of Hong Kong property companies in an investment portfolio. This research complements the previous research by Brown and Chau on excess returns in the Hong Kong property market, as well as highlighting the issues and role of both direct and indirect property for inclusion in diversified investment portfolios; these being key areas of Gerald Brown's extensive property research agenda.

This purpose of this paper is to investigate the current level of transparency based on the customised transparency matrix (TM) amongst the top listed property companies in Malaysia, based on capital market value. Furthermore, this paper discusses the concept of transparency from the perspective of Malaysian property markets.

Data for this research were collected from the top 30 property companies in Malaysia through their annual reports and corporate websites. The indicator of transparency was developed based on various literature surveys and other research findings. Using the developed indicators, the study analysed the transparency attributes from TM of the top 30 listed property companies in Malaysia.

In terms of transparency levels and widely implemented transparency elements, the findings revealed that Malaysian property companies were within a “good level” range.

The research is based on a study of the top 30 listed property companies in Malaysia based on market capital values as at 30th June 2010.

This paper examines the transparency level of property companies in Malaysia based on each company's current annual report. The findings provide some insights and guidelines for the industry as well as academics on the transparency level particularly in Malaysian property business.