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Article
Publication date: 28 November 2019

Sam 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.

Content available
Article
Publication date: 23 November 2012

Barry P. Haynes

252

Abstract

Details

Journal of Corporate Real Estate, vol. 14 no. 4
Type: Research Article
ISSN: 1463-001X

Article
Publication date: 23 November 2012

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).

7049

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

Journal of Corporate Real Estate, vol. 14 no. 4
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 25 September 2020

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

Journal of Corporate Real Estate, vol. 23 no. 1
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 1 March 2001

K.G.B. Bakewell

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;…

18694

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.

Details

Structural Survey, vol. 19 no. 3
Type: Research Article
ISSN: 0263-080X

Article
Publication date: 1 September 2001

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…

14789

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.

Details

Facilities, vol. 19 no. 9
Type: Research Article
ISSN: 0263-2772

Article
Publication date: 1 March 2001

K.G.B. Bakewell

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;…

14404

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.

Details

Property Management, vol. 19 no. 3
Type: Research Article
ISSN: 0263-7472

Article
Publication date: 1 May 2001

K.G.B. Bakewell

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;…

14170

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.

Details

Journal of Property Investment & Finance, vol. 19 no. 5
Type: Research Article
ISSN: 1463-578X

Article
Publication date: 3 February 2023

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

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 September 2000

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…

27428

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.

Details

Facilities, vol. 18 no. 9
Type: Research Article
ISSN: 0263-2772

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