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Article
Publication date: 18 January 2024

Nor Nazihah Chuweni, Nurul Sahida Fauzi, Asmma Che Kasim, Sekar Mayangsari and Nurhastuty Kesumo Wardhani

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate…

Abstract

Purpose

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate. Evidence from the literature has pointed out that incorporating green features into residential buildings can reduce operational costs and increase the building’s value. Although green real estate is considered the future trend of choice, it is still being determined whether prospective buyers are willing to accept the extra cost of green residential investment. Therefore, this study aims to investigate the effect of housing attributes and green certification on residential real estate prices.

Design/methodology/approach

The impact of the housing attribute and green certification in the residential sectors was assessed using a transaction data set comprising approximately 861 residential units sold in Selangor, Malaysia, between 2014 and 2022. Linear and quantile regression were used in this study by using SPSS software for a robust result.

Findings

The findings indicate that the market price of residential properties in Malaysia is influenced by housing attributes, transaction types and Green Building Index certification. The empirical evidence from this study suggests that green certification significantly affects the sales price of residential properties in Malaysia. The findings of this research will help investors identify measurable factors that affect the transaction prices of green-certified residential real estate. These identifications will facilitate the development of strategic plans aimed at achieving sustainable rates of return in the sustainable residential real estate market.

Practical implications

Specifically, this research will contribute to achieving area 4 of the 11th Malaysia Plan, which pertains to pursuing green growth for sustainability and resilience. This will be achieved by enhancing awareness among investors and homebuyers regarding the importance of green residential buildings in contributing to the environment, the economy and society.

Originality/value

The regression model for housing attributes and green certification on house price developed in this study could offer valuable benefits to support and advance Malaysia in realising its medium and long-term goals for green technology.

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: 4 April 2024

Katharina Oktabec and Nadine Wills

Sustainability has become an integral part of the real estate industry, alongside advancing globalization and demographic development. Due to real estate's influence on greenhouse…

Abstract

Purpose

Sustainability has become an integral part of the real estate industry, alongside advancing globalization and demographic development. Due to real estate's influence on greenhouse gas emissions throughout its life cycle, both the regulatory and legal requirements concerning the sustainability of real estate are growing and, as a result of social responsibility, the interest of tenants and investors in sustainable real estate. However, criteria for measuring the ecological sustainability of a real estate investment in the purchase process in order to reduce the risk of including “stranded assets” in the portfolio are missing. This paper aims to address the need to integrate the issue of carbon stranding into existing sustainability rating tools.

Design/methodology/approach

Existing tools are examined based on defined criteria to determine whether they are suitable for purchasing a property before suitable tools for purchase are compared. Strengths and weaknesses are identified, which are to be remedied with the scoring tool. Taxonomy regulation is integrated into the existing valuation basis as a legal regulation.

Findings

The result is a scoring tool that enables real estate companies to measure and evaluate the ecological sustainability performance of a property during the acquisition process, taking into account the three aspects of sustainability and considering them when determining an appropriate purchase price in line with market conditions. Moreover, the developed tool helps to minimize the risk of acquiring a stranding asset.

Research limitations/implications

The environmental, social and governance (ESG) framework employed in this study does not incorporate governance considerations. While the analysis extensively evaluates the building's environmental and social aspects, it does not extend to examining the governance practices of the companies involved. Thus, the assessment is confined solely to the physical attributes of the property without accounting for broader corporate governance factors.

Practical implications

The developed scoring tool represents a valuable tool for the real estate industry, offering insights into sustainability performance during property acquisitions and providing a structured framework for decision-making. By addressing both certification and taxonomy regulation requirements, the tool contributes to the industry's evolution toward more sustainable and environmentally responsible real estate practices.

Originality/value

In response to the growing importance of sustainability in the real estate industry, this paper introduces a novel scoring tool for evaluating the sustainability of real estate investments during the acquisition process.

Details

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

Keywords

Article
Publication date: 29 March 2024

Ama Darkwah Osei Assibey Antwi, Aba Essanowa Afful, Joshua Ayarkwa, Ambrose Dodoo, Safowaa Osei-Tutu and Anthony Kwame Danso

This study aims to review the status quo, current state of research, research hot themes and research gaps in sustainable facilities management (SFM) in the built environment (BE…

Abstract

Purpose

This study aims to review the status quo, current state of research, research hot themes and research gaps in sustainable facilities management (SFM) in the built environment (BE) through an extant literature review.

Design/methodology/approach

To map and analyze knowledge paths in the context of SFM research, a sequential explanatory mixed-method review involving bibliometric and content analysis was used to help identify current research trends, research hot themes and knowledge gaps. The Scopus search engine was used to find 169 relevant articles. For a better understanding of the literature accumulated, a bibliometric analysis was carried out by using VOSviewer to reveal current research themes, the status quo and current state of research as well as research gaps.

Findings

Through the literature review and content analysis, the current research themes on SFM revealed from the study include green building technologies, assessment methods of SFM, smart buildings and building information modeling. The research hot themes in SFM include smart buildings and green building technologies, green buildings (GB), architectural and building designs in the university sector, assessment methods in buildings and decision-making and the adoption of asset and facility management in the university sector. Indoor air pollution, intelligent buildings, climate change, maintenance, environmental management, facilities, historic preservation, environmental performance, energy management, etc. are the research gaps identified from the study, and these serve as potential areas for future research studies under SFM. It was recognized that facilities managers are increasingly involved with sustainability policies within their organizations and are developing sustainability agendas to keep up with the changing nature of the facilities management (FM) profession.

Practical implications

The findings of this study hold relevance to the FM practice, as the integration of SFM by facilities managers can lead to waste reduction, decreased operating expenses and reduced energy consumption. In addition, occupants of sustainable buildings experience improved conditions that contribute to better health and productivity, thus boosting their overall well-being. Consistent with the themes of smart buildings and green technologies, revealed to be the hot themes in the SFM research scope, properties with sustainable features can command higher rental rates and property values, appealing to a broader range of stakeholders. SFM practices in universities can aid in saving money from reduced facility operational costs and improve the image of institutions while creating better indoor environments for students and staff. The analyses of countries involved in research can open doors for the establishment of research groups and the development of collaboration between universities in different countries researching similar topics of interest.

Originality/value

The geographical scope of this study is not limited and, therefore, encourages broad applicability of the findings to the global sustainable BE.

Details

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

Keywords

Article
Publication date: 23 January 2024

Sebastian Leutner, Benedikt Gloria and Sven Bienert

This study examines whether green buildings enjoy more favorable financing terms compared to their non-green counterparts, exploring the presence of a green discount in commercial…

Abstract

Purpose

This study examines whether green buildings enjoy more favorable financing terms compared to their non-green counterparts, exploring the presence of a green discount in commercial real estate lending. Despite the extensive research on green premiums on the equity side, lending has received limited attention in the existing literature, even as regulations have increased and ambitious net-zero targets have been set in the banking sector.

Design/methodology/approach

In this study, the authors leverage a unique dataset comprising European commercial loan data spanning from 2018 to 2023, with a total loan value exceeding €30 billion. Hedonic regression analysis is used to isolate a potential green discount. Specifically, the authors rely on property assessments conducted by lenders to investigate whether green properties exhibit lower interest rate spreads and higher loan-to-value (LTV) ratios.

Findings

The findings reveal the existence of a green discount in European commercial real estate lending, with green buildings enjoying a 5.35% lower contracted loan spread and a 3.92% lower target spread compared to their non-green counterparts. However, this analysis does not indicate any distinct advantage in terms of LTV ratios for green buildings.

Practical implications

This research contributes to a deeper understanding of the interaction between green properties and commercial real estate lending, offering valuable insights for both lenders and investors.

Originality/value

This study, to the best of the authors’ knowledge, represents the first of its kind in a European context and provides empirical evidence for the presence of a green discount.

Details

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

Keywords

Article
Publication date: 4 April 2024

Benedikt Gloria, Sebastian Leutner and Sven Bienert

This paper investigates the relationship between the sustainable finance disclosure regulation (SFDR) and the performance of unlisted real estate funds.

Abstract

Purpose

This paper investigates the relationship between the sustainable finance disclosure regulation (SFDR) and the performance of unlisted real estate funds.

Design/methodology/approach

While existing literature has primarily focused on the impact of voluntary sustainability disclosure, such as certifications or reporting standards, this study addresses a significant research gap by constructing and analyzing the financial J-Curve of 40 funds under the SFDR. The authors employ a panel regression analysis to examine the effects of different SFDR categories on fund performance.

Findings

The findings reveal that funds categorized under Article 8 of the SFDR do not exhibit significantly poorer performance compared to funds categorized under Article 6 during the initial phase after launch. On average, Article 8 funds even demonstrate positive returns earlier than their peers. However, the panel regression analysis suggests that Article 8 funds slightly underperform when compared to Article 6 funds over time.

Practical implications

While investors may not anticipate lower initial returns when opting for higher SFDR categories, they should nevertheless be aware of the limitations inherent in the existing SFDR labeling system within the unlisted real estate sector.

Originality/value

To the best of our knowledge, this study represents the first quantitative examination of unlisted real estate fund performance under the SFDR. By providing unique insights into the J-Curves of funds, our research contributes to the existing body of knowledge on the impact of sustainability regulations in the financial sector.

Details

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

Keywords

Article
Publication date: 2 February 2024

Dawu Shu, Shaolei Cao, Yan Zhang, Wanxin Li, Bo Han, Fangfang An and Ruining Liu

This paper aims to find a suitable solution to degrade the C.I. Reactive Red 24 (RR24) dyeing wastewater by using sodium persulphate to recycle water and inorganic salts.

Abstract

Purpose

This paper aims to find a suitable solution to degrade the C.I. Reactive Red 24 (RR24) dyeing wastewater by using sodium persulphate to recycle water and inorganic salts.

Design/methodology/approach

The effects of temperature, the concentration of inorganic salts and Na2CO3 and the initial pH value on the degradation of RR24 were studied. Furthermore, the relationship between free radicals and RR24 degradation effect was investigated. Microscopic routes and mechanisms of dye degradation were further confirmed by testing the degradation karyoplasmic ratio of the product. The feasibility of the one-bath cyclic dyeing in the recycled dyeing wastewater was confirmed through the properties of dye utilization and color parameters.

Findings

The appropriate conditions were 0.3 g/L of sodium persulphate and treatment at 95°C for 30 min, which resulted in a decolorization rate of 98.4% for the dyeing wastewater. Acidic conditions are conducive to rapid degradation of dyes, while ·OH or SO4· have a destructive effect on dyes under alkaline conditions. In the early stage of degradation, ·OH played a major role in the degradation of dyes. For sustainable cyclic dyeing of RR24, inorganic salts were reused in this dyeing process and dye uptake increased with the times of cycles. After the fixation, some Na2CO3 may be converted to other salts, thereby increasing the dye uptake in subsequent cyclic staining. However, it has little impact on the dye exhaustion rate and color parameters of dyed fabrics.

Originality/value

The recommended technology not only reduces the quantity of dyeing wastewater but also enables the recycling of inorganic salts and water, which meets the requirements of sustainable development and clean production.

Details

Pigment & Resin Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0369-9420

Keywords

Article
Publication date: 2 February 2024

Nilesh R. Parmar, Sanjay R. Salla, Hariom P. Khungar and B. Kondraivendhan

This study aims to characterize the behavior of blended concrete, including metakaolin (MK) and quarry dust (QD), as supplementary cementing materials. The study focuses on…

Abstract

Purpose

This study aims to characterize the behavior of blended concrete, including metakaolin (MK) and quarry dust (QD), as supplementary cementing materials. The study focuses on evaluating the effects of these materials on the fresh and hardened properties of concrete.

Design/methodology/approach

MK, a pozzolanic material, and QD, a fine aggregate by-product, are potentially sustainable alternatives for enhancing concrete performance and reducing environmental impact. The addition of different percentages of MK enhances the pozzolanic reaction, resulting in improved strength development. Furthermore, the optimum dosage of MK, mixed with QD, and mechanical properties like compressive, flexural and split tensile strength of concrete were evaluated to investigate the synergetic effect of MK and quarry dust for M20-grade concrete.

Findings

The results reveal the influence of metakaolin and QD on the overall performance of blended concrete. Cost analysis showed that the optimum mix can reduce the 7%–8% overall cost of the materials for M20-grade concrete. Energy analysis showed that the optimum mix can reduce 7%–8% energy consumption.

Originality/value

The effective utilization is determined with the help of the analytical hierarchy process method to find an optimal solution among the selected criteria. According to the AHP analysis, the optimum content of MK and quarry dust is 12% and 16%, respectively, performing best among all other trial mixes.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 7 September 2023

Jakub Šejna, Stanislav Šulc, Vít Šmilauer, Pavel Reiterman and František Wald

The aim of this paper is to determine the thermal conductivity of a protective layer of alkali-activated cement and the possibility of performing fire protection with fireclay…

Abstract

Purpose

The aim of this paper is to determine the thermal conductivity of a protective layer of alkali-activated cement and the possibility of performing fire protection with fireclay sand and Lightweight mortar. Unprotected steel structures have generally low fire resistance and require surface protection. The design of passive protection of a steel element must consider the service life of the structure and the possible need to replace the fire protection layer. Currently, conventional passive protection options include intumescent coatings, which are subject to frequent inspection and renewal, gypsum and cement-based fire coatings and gypsum and cement board fire protection.

Design/methodology/approach

Alkali-activated cements provide an alternative to traditional Portland clinker-based materials for specific areas. This paper presents the properties of hybrid cement, its manufacturability for conventional mortars and the development of passive fire protection. Fire experiments were conducted with mortar with alkali-activated and fireclay sand and lightweight mortar with alkali-activated cement and expanded perlite. Fire experiment FE modelling.

Findings

The temperatures of the protected steel and the formation of cracks in the protective layer were investigated. Based on the experiments, the thermal conductivities of the two protective layers were determined. Conclusions are presented on the applicability of alkaline-activated cement mortars and the possibilities of applicability for the protection of steel structures. The functionality of the passive fire layer was confirmed and the strengths of the mortar used were determined. The use of alkali-activated cements was shown to be a suitable option for sustainable passive fire protection of steel structures.

Originality/value

Eco-friendly fire protection based on hybrid alkali-activated cement of steel members.

Details

Journal of Structural Fire Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-2317

Keywords

Article
Publication date: 22 April 2024

Pınar Şenel, Hacer Turhan and Erkan Sezgin

Three-dimentional (3D) food printers are innovative technologies that contribute to healthy, personalized and stainable nutrition. However, many consumers are still vigilant about…

Abstract

Purpose

Three-dimentional (3D) food printers are innovative technologies that contribute to healthy, personalized and stainable nutrition. However, many consumers are still vigilant about 3D printed food in the age of technology. The purpose of this study is to develop a scale and propose a model for consumption preferences associated with 3D-printed food (3DPF).

Design/methodology/approach

The developed questionnaire was handed to 192 Z and Y generation participants (Data1) for the exploratory factor analysis stage initially. Then, the questionnaire was handed to another group of 165 participants (Data 2) for verification by confirmatory factor analysis. Finally, the dimensions “healthy and personalized nutrition,” “sustainable nutrition” and “socio-cultural nutrition” were analyzed by structural equation modeling.

Findings

The results indicated that there was a high relationship between “healthy and personalized nutrition” and “sustainable nutrition” as well as between “sustainable nutrition” and “socio-cultural nutrition” when 3DPF was considered.

Originality/value

The study would contribute to the new survey area related to 3DPF by presenting a scale and proposing a model. Also, the study reveals which nutritional factors affect the Z and Y generation’s consumption of 3DPF. In this context, the study aims to make marketing contributions to the food production, restaurant and hotel sectors.

研究目的

3D食品打印机是创新技术, 有助于健康、个性化和可持续的营养。然而, 在科技时代, 许多消费者仍然对3D打印食品保持警惕。本研究的目的是开发一个刻画与3D打印食品相关的消费偏好的量表并提出一个模型。

研究方法

本研究首先将开发的问卷交给192名Z和Y世代参与者(数据1)进行探索性因素分析阶段。然后, 将问卷交给另一组165名参与者(数据2)通过验证性因素分析进行验证。最后, 通过结构方程模型分析了“健康和个性化营养”、“可持续营养”和“社会文化营养”这三个维度。

研究发现

结果表明, 在考虑3D打印食品时, “健康和个性化营养”与“可持续营养”之间以及“可持续营养”与“社会文化营养”之间存在很高的关系。

研究创新

本研究通过提出一个量表并提出一个模型, 为与3D打印食品相关的新调查领域做出了贡献。此外, 研究揭示了影响Z和Y世代对3D打印食品消费的营养因素。在这一背景下, 本研究旨在为食品生产、餐厅和酒店等领域做出营销贡献。

Details

Journal of Hospitality and Tourism Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-9880

Keywords

Article
Publication date: 6 February 2023

Vidya Umakant Khanapure and Sameer S. Shastri

The importance of lean and sustainability integration in sustainable construction (SC) has been extensively studied. However, a practical and thorough implementation methodology…

Abstract

Purpose

The importance of lean and sustainability integration in sustainable construction (SC) has been extensively studied. However, a practical and thorough implementation methodology addressing the project life cycle phases is still inadequate. The present study has developed a novel phase-wise sustainable–lean implementation methodology for high-rise residential projects.

Design/methodology/approach

The current study has identified the 50 direct conceptual interactions between 11 lean principles and 11 sustainability criteria encompassing 44 different attributes covering 174 sustainability actions. A panel of nine experts validated these interactions, and 50 integration vectors were proposed addressing different phases of the project life cycle of high-rise residential buildings. The experts also analysed the identified integration vectors for their current and likely future implementation in high-rise residential projects.

Findings

The interactions between lean and sustainability principles led to the development of a phase-wise implementation methodology. The experts' survey responses on the current level of implementation revealed that 40, 32 and 28% of integration vectors were implemented rarely, sometimes, and frequently, respectively. For likely future implementation, 28 and 72% integration vectors were reported as very likely and extremely likely to implement, respectively. This survey response highlighted the usefulness of identified integration vectors for enhancing the sustainability of high-rise residential projects.

Originality/value

The proposed sustainable–lean implementation methodology acts as a comprehensive guideline for implementing a lean approach to achieve the objectives of SC in high-rise residential projects. This may facilitate the transition from conventional to sustainable building practices using a lean approach.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

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