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1 – 10 of over 9000Sam Mosallaeipour, Seyed Mahdi Shavarani, Charlotte Steens and Adrienn Eros
This paper aims to introduce a practical expert decision support system (EDSS) for performing location analysis and making real estate location decisions in the organization’s…
Abstract
Purpose
This paper aims to introduce a practical expert decision support system (EDSS) for performing location analysis and making real estate location decisions in the organization’s facility and real estate management (FREM) department in presence of several decision criteria, under risk and uncertainty. This tool is particularly useful for making strategic decisions in facility planning, portfolio management, investment appraisal, development project evaluations and deciding on usage possibilities in an unbiased, objective manner.
Design/methodology/approach
The proposed EDSS uses fuzzy logic and uncertainty theory as two of the most useful tools to deal with uncertainties involved in the problem environment. The system performs an unbiased mathematical analysis on the input data provided by the decision-maker, using a combination of Analytical Hierarchy Process (AHP) and Global Criterion Method; determines a suitable compromise level between the objectives; and delivers a set of locations that complies best with the outlined desires of the management as the final solution. The application of the system is tested on a real case and has delivered satisfactory results.
Findings
The proposed EDSS took the defined objectives, the list of alternative locations, and their attributes as the required input for problem-solving, and used a combination of AHP, Possibilistic approach, and global criterion method to solve the problem. The delivered outcome was a set of proper locations with the right attributes to meet all objectives of the organization at a satisfactory level, confirmed by the problem owners.
Originality/value
The application of such a system with such a degree of preciseness and complexity has been very limited in the literature. The system designed in this study is an Industry 4.0 decision making tool. For designing this system several body of knowledge are used. The present study is particularly useful for making strategic decisions in the domains of portfolio management, investment appraisal, project development evaluations and deciding on property usage possibilities. The proposed EDSS takes the information provided by the experts in the field (through qualitative and quantitative data collecting) as the inputs and operates as an objective decision-making tool using several bodies of knowledge considering the trends and developments in the world of FREM. The strong scientific method used in the core of the proposed EDSS guarantees a highly accurate result.
Details
Keywords
- AHP
- Strategic decision-making
- Asset management
- Investment efficiency
- Investment appraisal
- Expert decision support systems
- Facility and real estate management (FREM)
- Location analysis
- Multi-criteria decision-making
- Technological decision-making tools
- Real estate location decisions
- Real estate strategy
- Real estate projects
- Investment efficiency
Małgorzata Rymarzak and Ewa Siemińska
The purpose of this paper is to identify and systematise the factors in selecting a location for various real estate types (especially industrial, housing, retail, and office).
Abstract
Purpose
The purpose of this paper is to identify and systematise the factors in selecting a location for various real estate types (especially industrial, housing, retail, and office).
Design/methodology/approach
Following an extensive literature review, this paper analyses numerous factors and conditions to describe the decision‐making process in locating various real estate types. Relevant literature from 1956 to 2012 was systematically collected and classified on the basis of structural attributes such as problem context (location and its meaning), methodology, and the general and site location factors considered. The literature also was categorized according to the geographic region and year of publication. A structured literature review analyses published studies, evaluates contributions, summarises knowledge and identifies managerial implications and lines for further research.
Findings
The ultimate location and site selection for real estate are based on a combination of various factors and criteria. The determinants that entities may evaluate when locating a business most typically depend on the industry and the nature of the enterprise. Depending on the enterprise and its operations, some location decisions are absolutely dependent on specific location parameters; others may not be subjected to such constraints, but must meet conditions the investor considers important (location advantages). Furthermore, location determinants are not constant, but change over time according to changes in local law, regulations, and/or market conditions. Over the past few decades, a growing number of new factors have emerged that decision makers and researchers previously ignored, such as freedom from pollution, employees' quality of life, and so on. Still other businesses consider relocation when cost factors lower their competitiveness.
Research limitations/implications
The identification and classification of factors affecting location of real estate primarily systematises the existing knowledge and provides a starting point for further research on optimising real estate location from a company value‐management perspective. At this stage, the research does not constitute a basis to rank to individual factors.
Practical implications
This paper can be a resource for corporate real estate managers, offering guidelines for making decisions on the best location for various types of real estate. The findings of this literature review may also help leaders anticipate potential location barriers and follow best practices for addressing these impediments.
Originality/value
This paper summarises knowledge and provides the first systematic review of literature related to factors affecting the choice of location for real estate. Most papers focus on microeconomic factors of different real estate types. A need was identified for a detailed comparison of all factors (also macro) affecting general and site location decisions, indicating how decisions have changed over time. This review fills this gap in the literature, provides some managerial implications, and identifies areas for more detailed research on different segments of the real estate market.
Details
Keywords
Emelieke Huisman, Rianne Appel-Meulenbroek, Helianthe Kort and Theo Arentze
Board members and real estate managers (decision makers) play an important role in the decision-making process in nursing home organisations. This study aims to provide an…
Abstract
Purpose
Board members and real estate managers (decision makers) play an important role in the decision-making process in nursing home organisations. This study aims to provide an understanding of underlying attributes and benefits sought by decision makers when making nursing home real estate decisions.
Design/methodology/approach
Decision makers from seven different nursing home organisations in The Netherlands were interviewed using the laddering technique to determine the individual requirements, the considerations of the decision alternatives, the relevant attributes and benefits and their mutual relationships.
Findings
This study details the motivations behind real estate management decisions in nursing home organisations. The findings show that apart from financial considerations, decision makers strive to enhance the quality of life and satisfaction of users with their real estate decisions and seek to include residents and employees in the process. These benefits are connected to the goals of well-being and innovation in health care. Furthermore, functionality, physical and functional flexibility and technology are key considerations when undertaking corporate real estate (CRE) decisions, to ensure that real estate management aligns with the strategic goals of the nursing home organisation.
Practical implications
The insights of this study can support decision makers in healthcare facilities to create strategic value with their real estate. Understanding how to obtain certain benefits from nursing home real estate may result in a better realisation of organisational objectives and user needs.
Originality/value
This study reveals the decision-making process in a nursing home context. Moreover, the laddering technique is used as a new method to explore and gain a deep understanding of CRE decision-making processes.
Details
Keywords
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;…
Abstract
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.
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
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;…
Abstract
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.
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;…
Abstract
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.
Shahriar Kabir, Zakia Binte Jamal and Bindu Proshad Kairy
This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment…
Abstract
Purpose
This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment capacity in buying real estate properties. This study investigates if commonly known factors of CPI such as attitude, social power or subjective norms, perceived behavior power or control, location, surrounding environment and socialization can influence a consumer’s preferred investment amount when buying a house, either for own use or for rental purpose.
Design/methodology/approach
A total of 334 respondents participated in this study. The survey data was analyzed using factor analysis technique, ordinary least square technique and Poisson pseudo maximum likelihood technique.
Findings
This study finds that location, surrounding environment, property/construction papers, roads, mosque/temple and fire services significantly influence the preferred investment amount of a real estate investor.
Originality/value
This study suggests that a link exists between CPI and real estate investment decision through factors such as location, surrounding environment, legal documentation and communication facility. These identified CPI factors require serious consideration by the real estate developers and their financing partners.
Details
Keywords
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.