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Article
Publication date: 15 June 2021

Jayantha Wadu Mesthrige

“Ill-maintenance of common areas” in multi-owner residential properties is described as the “tragedy of anti-commons problem”. The problem can be addressed by outsourcing…

Abstract

Purpose

“Ill-maintenance of common areas” in multi-owner residential properties is described as the “tragedy of anti-commons problem”. The problem can be addressed by outsourcing the management of the property to a company possessing quality property management (PMGT) certification. The PMGT certification is normally hailed as an effective means of reassuring occupiers and prospective property buyers of the good level of quality of the property management to be expected. This study investigated whether PMGT certification carries with it a price premium for residential properties.

Design/methodology/approach

A fixed-effects modelling approach was employed in relation to a large residential properties dataset in Hong Kong, in the period 2009–2018.

Findings

The results indicate, on average, that the PMGT certification commands a price premium of between 3.3 and 3.9%. This premium can be called, the “tragedy of anti-commons premium (TAC premium)”. The results further suggest that significant price premium differences relate to the four different types of certifications studied. The price of a residential unit managed by a property management company (PMC) with Q-mark certification is about 3.4% higher than a unit managed by a non-certified PMC, ceteris paribus. Likewise, corresponding price premiums for units certified related to ISO9001 and HKMAQA certifications are 3.5 and 2.4%, respectively.

Originality/value

To the best of author's knowledge, this is the first attempt to investigate if there is any relationship between the property price premium attributed to “tragedy of anti-commons” and PMGT certification.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 8 August 2019

Wadu Mesthrige Jayantha and Olugbenga Timo Oladinrin

Hedonic price modeling (HPM) plays an important role in identifying factors affecting the price of goods or services. Many researchers have extensively used this modeling…

Abstract

Purpose

Hedonic price modeling (HPM) plays an important role in identifying factors affecting the price of goods or services. Many researchers have extensively used this modeling approach in their research work. However, there has been no bibliometric review that analyses the existing research, which makes use of HPM modeling. This study aims to provide a comprehensive visualized bibliometric and scientometric view of HPM usage in real estate research.

Design/methodology/approach

The Scopus database was used to collect the bibliographic data of 269 publications from 1970 to 2019. CiteSpace software was then used to analyze and visualize the data.

Findings

The results revealed a significant increase in the annual number of HPM study publications. Core authors, participating countries and representative references have been identified. Research hotspots for the HPM studies were identified.

Originality/value

While the study provides a methodological bibliometric review of HPM literature, the findings provide a very good platform for understanding the important elements of HPM usage in real estate research.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 2
Type: Research Article
ISSN: 1753-8270

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Article
Publication date: 29 October 2019

Wadu Mesthrige Jayantha and Olugbenga Timo Oladinrin

Office workspace is more than a place but one of the essential resources in business organizations. In recent years, research in office workspace management has become an…

Abstract

Purpose

Office workspace is more than a place but one of the essential resources in business organizations. In recent years, research in office workspace management has become an increasingly important scholarly focus. However, there is a dearth of bibliometric studies to date on the subject. This study aims to explore a scientometric analysis of office workspace field.

Design/methodology/approach

The title/abstract/keyword search method was used to extract related papers from 1990 to 2018. A total of 1,670 papers published in Scopus were obtained and subjected to scientometric data analysis techniques via CiteSpace software.

Findings

The results revealed the active research institutions and countries, influential authors, important journals, representative references and research hotspots in this field.

Practical implications

While this study focused on office workspace management, the findings hold useful implications for the built environment in general and facility management in particular, being a sector that encompasses multiple disciplines involving building, office assets, people, processes and technology, which enable effective functioning of the built facilities.

Originality/value

This is probably the most comprehensive scientometric analysis of the office workspace field ever conducted. This study adds to the so far limited knowledge in the field and provides insights for future research.

Details

Facilities , vol. 38 no. 3/4
Type: Research Article
ISSN: 0263-2772

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Article
Publication date: 25 October 2019

Wadu Mesthrige Jayantha and Olugbenga Timo Oladinrin

Many organizations in Hong Kong have witnessed a reduction in average space usage due to high occupancy costs. New working practices (NWPs) are viewed as a reform tool to…

Abstract

Purpose

Many organizations in Hong Kong have witnessed a reduction in average space usage due to high occupancy costs. New working practices (NWPs) are viewed as a reform tool to manage expensive real estate around the world. However, it is unclear whether NWPs influence office space usage in business organizations in Hong Kong. This study, therefore, aims to evaluate if the average space reduction in office firms is caused by the NWPs in the finance, insurance, real estate and business (FIREB) firms.

Design/methodology/approach

A total of 20 NWPs were initially derived from the extant literature. A questionnaire survey was conducted with listed FIREB firms in Hong Kong to assess the impact of the identified NWPs on space usage. The data collected from the questionnaire survey were analysed using descriptive, explorative factor analysis (EFA) and partial least squares-structural equation modelling (PLS-SEM) to evaluate the effects of NWPs on average space usage.

Findings

Results revealed that four major NWP factors influence average space usage. Three of these factors, namely, “flexible arrangement”, “multitasking knowledge workers” and “teamwork and communication”, influence space usage positively. Even though the effect of the fourth factor “training and networking” was significant, it does not reflect a positive influence on space usage. Business organizations can focus more on the implementation of NWPs to cushion the effects of the high cost of occupancy.

Originality/value

The research provides new knowledge to the limited literature on the effect of NWPs in FIREB firms and enriches the growing body of international literature on how today’s competitive global business organizations should revisit their workplace strategies to accommodate the rising agile workforce and NWPs. The findings offer new insights into the ongoing debate on the impact of information and communication technology-enabled NWPs on space usage. From the real estate perspective, the findings should inform policymaking towards the better planning ahead of office properties to accommodate NWPs, helping Hong Kong to remain competitive as a key financial centre.

Details

Journal of Corporate Real Estate, vol. 21 no. 4
Type: Research Article
ISSN: 1463-001X

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Article
Publication date: 2 September 2019

Xiaosen Huo, Ann Tit Wan Yu, Wu Zezhou and Wadu Mesthrige Jayantha

The purpose of this paper is to present site planning and design (SPD) relevant variables and items in practice for practitioners to better understand and implement SPD in…

Abstract

Purpose

The purpose of this paper is to present site planning and design (SPD) relevant variables and items in practice for practitioners to better understand and implement SPD in green building projects.

Design/methodology/approach

The research methods include questionnaire survey and case studies in the context of China. A questionnaire survey was adopted to identify the importance of 13 variables and the corresponding 38 items in SPD of green residential buildings. Three green residential projects including one in Hong Kong and two in Mainland China were selected to investigate the SPD considerations in practice and to discuss the necessary improvement.

Findings

The results show that 12 out of the 13 variables of SPD in green buildings are involved in the three case projects to some extent, thereby underscore the importance of these variables. The potential improvement in real-life SPD of green buildings is also discussed such as adopting design-build and integrated project delivery methods and preserving and protecting cultural characteristics on site.

Originality/value

The research findings may serve as a reference for practitioners to better conduct SPD in green building projects.

Details

Engineering, Construction and Architectural Management, vol. 27 no. 2
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 31 July 2019

Chung Him Lau, Jayantha Wadu Mesthrige, Patrick T.I. Lam and Arshad Ali Javed

Project delays and cost over-runs are few common major problems arising from conventional contracts. To overcome these issues, the Hong Kong Government has been practicing…

Abstract

Purpose

Project delays and cost over-runs are few common major problems arising from conventional contracts. To overcome these issues, the Hong Kong Government has been practicing the use of the New Engineering Contract (NEC) forms in several public works projects. However, despite the successful outcomes and the positive signs of adopting NEC, it appears that NEC forms of contracts are not widely adopted in the Hong Kong construction industry even after 25 years of their first introduction. The purpose of this paper is to identify the challenges and barriers for not implementing NEC widely in Hong Kong.

Design/methodology/approach

Based on a questionnaire survey data collected from 45 senior industry professionals, and six semi-structured interviews, the study evaluated the perceptions of construction professionals as to why NEC is still not popular in the industry and reported the relative importance of challenges in the implementation of NEC in Hong Kong.

Findings

The results reveal that “People are not willing to change,” “Limited number of trained professionals” and “Insufficient case law and adjudication experience” are the most significant challenges and barriers in adopting NEC. These findings are also supported by the opinions of construction professionals through semi-structured interviews.

Practical implications

The findings are relevant and would benefit to the industry stakeholders for adopting NEC contracts by informing them of the most significant challenges so that proper strategies may be devised to overcoming them for early contractors’ involvement, controlling cost and time overruns in infrastructure projects.

Originality/value

The empirical evidence of the study provides an insight into the challenges faced by the construction industry of Hong Kong. NEC form of contract is the way forward in order to create a better working environment conducive for all the parties that would result in better construction project performance and productivity.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 10
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 21 June 2019

Wadu Mesthrige Jayantha and Olugbenga Timo Oladinrin

The purpose of this paper is to present a comprehensive assessment of the influential factors that must be considered in an effort to enhance homeownership.

Abstract

Purpose

The purpose of this paper is to present a comprehensive assessment of the influential factors that must be considered in an effort to enhance homeownership.

Design/methodology/approach

A list of 14 factors identified through the literature were assessed through a questionnaire survey with 502 useful responses. The data collected were analysed using mean item score (MIS), exploratory factor analysis (EFA) and structural equation modelling (SEM).

Findings

MIS analysis revealed “prioritizing lending towards first-time buyers”, “reforming planning process to allow building of more homes” and “introducing subsidies for all first-time buyers” as the most influential factors affecting homeownership. Using EFA, 3 key factors were generated from the 14 factors: subsidies and policy reforms; fiscal measures; and monetary measures. The SEM results show that all three factors have a significant positive effect on homeownership at different levels.

Originality/value

This paper empirically examines the enabling factors for homeownership in Hong Kong, revealing a clear effect of various group factors on homeownership. The paper proposes practical and policy recommendations to improve homeownership rate.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Content available
Article
Publication date: 22 March 2019

Jayantha Wadu Mesthrige and Yat Hung Chiang

This study aims to analyse the impact on employee productivity of adopting the activity-based working (ABW) a form of new work practices (NWPs). A study of this nature has…

Abstract

Purpose

This study aims to analyse the impact on employee productivity of adopting the activity-based working (ABW) a form of new work practices (NWPs). A study of this nature has never been made in Asia.

Design/methodology/approach

A mixed methods design was used, which combined a comprehensive literature review, three interviews with senior professionals and a questionnaire survey with 37 office occupiers all from one international real estate consultancy firm in Hong Kong, as a case study, to analyse the impact of ABW on employee productivity.

Findings

Findings suggest that ABW influences employee productivity to a certain degree. Though both physical and behavioural working environmental factors influence employee productivity in general, the latter factors were relatively more influential. Interestingly, though space-per-employee has been reduced under the ABW, this has not affected employee performance negatively. However, findings indicate that distraction elements (e.g. interruptions, overcrowding and noise) do have a negative influence on employee performance.

Research limitations/implications

The scope of this exploratory study is limited to Hong Kong and to a small sample of respondents representing one international real estate firm. However, the results could be interpreted for critical learning in other similarly expensive real estate rental markets.

Originality/value

The study highlighted the impact of not only physical but also behavioural working environment factors on employee productivity. The maximum benefits of NWPs can only be accomplished by striking a balance between aspects of physical and behavioural working environments.

Details

Journal of Facilities Management , vol. 17 no. 2
Type: Research Article
ISSN: 1472-5967

Keywords

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Article
Publication date: 5 September 2018

Jayantha Wadu Mesthrige and Ho Yuk Kwong

An understanding about the criteria determining the successful application of green features, and the barriers to implementation is essential in order to promote and…

Abstract

Purpose

An understanding about the criteria determining the successful application of green features, and the barriers to implementation is essential in order to promote and enhance green building development. The purpose of this paper is twofold: first, the criteria determining the success of GBFs; and second, the barriers to implementing GBFs in Hong Kong.

Design/methodology/approach

A multi-method approach comprising a comprehensive questionnaire survey and a semi-structured group discussion with construction professionals, along with three case studies was adopted to address these two issues.

Findings

Findings suggest that although environmental performance is the most significant criterion, the living quality of occupants and the costs of green features play a crucial role in determining the success of their application. However, the environmental aspects of buildings are not sufficient for rating or determining the greenness level of a building. As for barriers, the green cost implications; the structural unsuitability of the current stock of old buildings; and the lack of financial incentives were found to be crucial barriers preventing the application of green features in the Hong Kong building sector.

Originality/value

GBFs have received extensive attentions by the academia and industry. This paper used a mix method approach by exploring success criteria and barriers to implementing green features in the building sector in Hong Kong. As green building development is still a contemporary subject of discussion, this study would be beneficial to decision makers as it identifies the criteria determining the success of green building adoption and barriers to implementation of such features. Hence, relevant stakeholders will have better understanding of the factors affecting the adoption of GBFs.

Details

Smart and Sustainable Built Environment, vol. 7 no. 3/4
Type: Research Article
ISSN: 2046-6099

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Article
Publication date: 4 August 2014

Jayantha Wadu Mesthrige

The purpose of this study is to estimate an empirical model for new office space development starts, based on the theoretical treatment of urban growth. The study…

Abstract

Purpose

The purpose of this study is to estimate an empirical model for new office space development starts, based on the theoretical treatment of urban growth. The study introduces a new parameter, namely, office space-usage pattern, to the office space development equation and tests whether developers respond to non-price measures in deciding to commence new developments.

Design/methodology/approach

The study first introduces a co-integration approach based on an error correction model to test for long-run relations and short-run dynamics of new office space development. A multivariate regression model is then introduced to identify significant determinants that influence office development starts. The study uses annual data over a time span of 30 years.

Findings

Estimated results provide strong evidence that the newly introduced parameter exerts a positive impact on new office space development. It suggests that if the average floor space per employee changes by one percentage point, new office development starts would change by 1.5 percentage point, indicating even a marginal change in floor-space usage per employee (SPE) would have a significant impact on new office space development. Empirical estimates also suggest a strong response of office development starts to the lagged land supply and office space stock.

Research limitations/implications

The paper raises the concern about the importance of non-price measures of the supply-side of the office market. There is scope to address the research questions using better data sets. It is also possible to model the supply adjustment process more dynamically in an error correction framework.

Practical implications

The findings would suggest that non-price measures, such as space-usage pattern, need to be taken into account when planning and estimating future office space needs. This finding provides valuable insight for our current knowledge on factors affecting new office supply.

Originality/value

This is the first study to introduce office floor space usage as a determinant of office development starts in an urban growth conceptual framework for the Hong Kong office market.

Details

Facilities, vol. 32 no. 11/12
Type: Research Article
ISSN: 0263-2772

Keywords

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