Hasil untuk "Real estate business"

Olli Vigren, Kent Eriksson

PurposeThis article proposes a Multilayer Network (MLN) model for studying business ecosystems. The model focuses on the flows of products, services and money between buyers and sellers, emphasizing that these flows form both actor-level and emergent system-level ecosystem structures.Design/methodology/approachThe article examines two case studies of real estate owners and their suppliers, using financial transaction data to provide a detailed, data-driven view of business ecosystems.FindingsThe study advances real estate theory by deepening research on the digitalization of real estate owners, especially on their enterprise architectures and supplier networks. Despite size differences, both case firms have similar, complex supplier-network structures. The findings may inform enterprise architecture management and procurement practices in the real estate sector.Originality/valueThe MLN model defines terminology for ecosystem layers and provides methods for establishing ecosystem boundaries. This aligns with the micro-level critique in management and ecosystems research. We conclude by highlighting that event data, when available, can enhance future business ecosystem analysis by enabling the study of broader ecosystem structures with the MLN model.

Jacob Orellana Real

The Riemann zeta function and the distribution of its nontrivial zeros on the critical line remain central topics in analytic number theory and large-scale computation. This work develops a numerical framework that replaces classical Gram-point bracketing with a real-to-complex parametrization of the critical line. Combined with high-precision evaluation of the Hardy Z function using the Riemann-Siegel formula with Gabcke type remainder control, this parametrization induces a Valley Scanner algorithm that identifies local minima of the absolute value of Z and refines them using safeguarded Newton iterations. The method exploits the mountain-valley geometry of the Z function rather than sign changes, and is implemented in a cloud based C language and MPFR pipeline with parallel execution on multi-core CPU instances. The paper reports Zero computations from the classical low lying range up to heights near 1e20, compares the observed spacing of zeros with Riemann - von Mangoldt predictions across several test windows, and summarizes consistency checks based on independent datasets and a local ball test. The work also introduces a fully real staircase formulation of the explicit-formula correction term for the Chebyshev function, expressed directly in terms of the zero ordinates and derived quantities. All numerical datasets, Docker images, and reproducibility materials are publicly archived via Zenodo and GitHub.

Aleksandr ­Nikolayevich Rozhkov, Vera Vladimirovna Galishnikova

В современных цифровых системах управления надежность обеспечивается способностью перенаправлять потоки при сбоях и отказах. Для этого можно применять топологический подход, учитывающий взаимосвязи элементов в различных системах, включая системы жизнеобеспечения. Представлен обзор существующих алгоритмов маршрутизации потоков, отмечены их достоинства и недостатки. В работе предлагается концепция управления потоками на  основе топологических таблиц. Вводятся формальные понятия рангов (иерархия «узел – ребро – грань – ячейка»). Для каждой пары рангов задается топологическое отношение контакта, и результирующая матрица из шестнадцати топологических таблиц Tkm фиксирует инцидентность элементов без использования метрической информации. Такая структура образует компактное устойчивое хранилище связности, упрощая обновление и анализ сети. Далее рассматривается, как с помощью этих понятий можно организовать хранение информации о связности и применять ее для перенаправления потоков данных при отказах узлов или каналов, повышая надежность сети. Описан алгоритм перенаправления: после обнаружения отказа соответствующие записи в таблицах помечаются как неактивные, затем автоматически идентифицируются затронутые сеансы и для каждого выбирается кратчайший обходной маршрут. Последовательность операций включает: 1. Оперативное обновление таблиц. 2. Классификацию затронутых потоков. 3. Поиск альтернативного пути или выбор ранее сохраненного резервного. 4. Мгновенное переключение на альтернативный маршрут без межузлового обмена служебными сообщениями. При наличии резервных маршрутов длительность простоя ограничивается задержкой обнаружения события; при их отсутствии путь вычисляется по обновленному графу с линейной сложностью.

Jingwen Yang

Cross-border real estate project management is inherently challenging due to its complexity and diversity. This study investigates the efficacy of business information management systems (BIMS) in managing such projects and employs machine learning models for performance prediction analysis. Utilizing data from 250 valid questionnaires and 15 in-depth interviews, multiple regression analysis, classification algorithms, and clustering analysis models were applied. The results indicate that system quality, information quality, and service quality significantly enhance project management efficiency and user satisfaction. Specifically, the adoption of BIMS reduces average project completion time and cost overrun rates, thereby improving management effectiveness. Commercial real estate projects reported the highest average investment at $70 million, mixed-use projects exhibited the longest average completion time of 25 months, and residential real estate projects achieved the highest management efficiency score, averaging 8.0. The regression model's coefficient of determination (R²) was 0.68, the classification model achieved an 85% accuracy in identifying risk factors, and clustering analysis categorized projects into high-efficiency management, risk-concentrated, and resource-intensive types. These findings underscore the substantial value of BIMS in cross-border real estate project management, providing robust management tools and decision support. However, the study's limitations include a small sample size and restricted data sources. Future research should aim to expand the sample size and incorporate more diverse data sources to enhance the findings' generalizability and accuracy.

Abdullah J. Abualhamayl, Mohanad A. Almalki, Firas Al-Doghman et al.

In the rapidly evolving digital era, the growing trend of conducting real estate e-business transactions through online platforms has led to escalated challenges in ensuring transactional security and trust. These challenges underscore the importance of balancing transparency with data privacy and enhancing accountability in this field. As an extension of our previously published work (Abualhamayl AJ, Almalki MA, Al-Doghman F, Alyoubi AA, Hussain FK (2023) Towards fractional NFTs for joint ownership and provenance in real estate. In: 2023 IEEE international conference on e-business engineering (ICEBE), p. 143–8. 10.1109/ICEBE59045.2023.00022.), this paper introduces the Global Real Estate Platform (GREP), a novel hybrid blockchain system that utilizes real estate provenance to establish a secure and trustworthy environment for real estate e-business, specifically focusing on two key challenges: ensuring data authenticity and effectively managing access rights. Integral to GREP's design is the involvement of government entities, which is essential for maintaining the required balance between transparency, privacy, and high levels of accountability. This proposed framework is explained conceptually and demonstrated practically, offering an innovative perspective on the integration of hybrid blockchain technology in the real estate system. Furthermore, our research encompasses a detailed implementation, using various tools, and an in-depth examination of three use cases. This combined analysis effectively demonstrates GREP's efficacy in addressing the targeted challenges in the field. While acknowledging the system's limitations, including challenges in user adoption and performance variability under different network conditions, our findings open new avenues for further exploration, such as landlords' payment histories and utility bills, and using blockchain as a secondary user identifier. These features collectively highlight the transformative potential of blockchain technology in real estate e-business.

C. Tagliaro, A. P. Pomè, Alessandra Migliore et al.

PurposePropTech has shown important implications for real estate; however, it remains a poorly understood phenomenon in both academia and practice. This paper aims to advance the understanding of PropTech by disentangling what the real estate sector needs from technology and, in parallel, observing closely the activities of PropTech businesses in two different countries.Design/methodology/approachThe paper adopts a mixed-method approach relying on qualitative data collected through interviews with PropTech players and real estate operators, and quantitative data collected through multiple sources on the Finnish and Italian PropTech ecosystems. The analysis is exploratory and descriptive.FindingsThis study underscores the potential benefits that digital technologies, introduced by PropTech, can add to the real estate sector: data integration; decisions informed from data; balance of new and old approaches to problem-solving; change in vision; adaptability of technologies and business models; and new professional profiles. These benefits are obtained when technology enables innovation from cross-pollination of different sectors. This becomes evident through the analysis of NACE activities, which demonstrates that innovation not only depends on interactions between property and technology, but the phenomenon covers a much broader spectrum of activities and industries.Originality/valueOur exploratory analysis brings up new evidence that not only the real estate sector and property sector are affected by PropTech but the phenomenon covers a much broader spectrum of activities and industries. This paper contributes to the debate on technology innovations and value chain in the real estate and construction sector, while adding a cross-country perspective.

F. Bolivar, Miguel A. Duran, A. Lozano-Vivas

This paper analyzes the relation between bank profit performance and business models. Using a machine learning-based approach, we propose a methodological strategy in which balance sheet components' contributions to profitability are the identification instruments of business models. We apply this strategy to the European Union banking system from 1997 to 2021. Our main findings indicate that the standard retail-oriented business model is the profile that performs best in terms of profitability, whereas adopting a non-specialized business profile is a strategic decision that leads to poor profitability. Additionally, our findings suggest that the effect of high capital ratios on profitability depends on the business profile. The contributions of business models to profitability decreased during the Great Recession. Although the situation showed signs of improvement afterward, the European Union banking system's ability to yield returns is still problematic in the post-crisis period, even for the best-performing group.

Lev Razumovskiy, Mariya Gerasimova, Nikolay Karenin

We study a mathematical model for the optimization of the price of real estate (RE). This model can be characterised by a limited amount of goods, fixed sales horizon and presence of intermediate sales and revenue goals. We develop it as an enhancement and upgrade of the model presented by Besbes and Maglaras now also taking into account variable demand, time value of money, and growth of the objective value of Real Estate with the development stage.

William Ben Gunawan

This study investigated the strategic development of PT Alam Sutera Realty Tbk (ASRI), focusing on diversification as a key strategy for business sustainability amidst issues of undervalued stock and unstable financial performance. A comprehensive analysis of external and internal factors was conducted using frameworks such as PESTLE, Porter’s 5 Forces, Internal-External Matrix, TOWS Matrix, SPACE Matrix, Grand Strategy Matrix, Quantitative Strategic Planning Matrix (QSPM), Blue Ocean Recommendation, and Balanced Scorecard. The findings indicated that ASRI scored 3.21 on the Internal Factor Evaluation (IFE) and 3.29 on the External Factor Evaluation (EFE), placing it in the "Grow and Build" quadrant of the SPACE Matrix. This suggested strategies such as forward, backward, and horizontal integration, market penetration, market development, and product development. The Grand Strategy Matrix, supported by Competitive Profile Matrix (CPM) scores and industry growth data, advocated for diversification or new venture formation through joint ventures. QSPM analysis identified Product Development in Vertical Buildings and Sustainable Housing as ASRI’s most attractive and promising strategies. Vertical building development optimized land use and met rising urban market demands, while sustainable housing appealed to the environmentally conscious segment. Future recommendations for ASRI included increased investment in research and development, partnerships with green technology firms, and continuous market trend monitoring to ensure strategic relevance and effectiveness in the evolving real estate industry. This diversified approach aimed to leverage new market opportunities and strengthen ASRI’s market position through strategic expansion and collaboration.

Alessandra Cucurnia

The paper documents some of the results of the research program Smart Yard: Industry 4.0 Production Process aimed at reducing inefficiencies in construction site procedures by developing new management methods supported by digitisation processes that can memorise and monitor computational data and guide them towards specific purposes of production processes optimisation. In particular, the aim of the study is to propose evolved, highly efficient and innovative organisational and information management models that enable more reliable control of processes in the construction sector, mitigating unavoidable uncertainties while pursuing a more rational use of resources. The products developed to support the programme include two newly designed pieces of equipment with advanced functions, which can be configured as examples of site management systems such as a “smart factory” in the logic of Industry 4.0, illustrated below. One is a high-performance charging system for power banks to be used with portable power tools, while the other concerns a work standing desk that employs wireless communication protocols to dialogue with other devices at the construction site.

Yogesh Mali, Viiav U. Rathod, Dnyandeo S. Khemnar et al.

“Real Estate Application: Managing Transactions between Brokers and Developers” streamlines property transactions with seamless communication and collaboration. It automates property listing, negotiation, and closing, saving time and reducing errors. The built-in CRM system tracks leads and enables data-driven decisions. The analytics system provides insights into the real estate market and customer behavior. Secure and scalable, the application integrates with other systems. An essential tool for brokers and developers, enhancing efficiency and profitability.

Kevis-Kokitsi Maninis, Stefan Popov, Matthias Nießner et al.

We propose a method for annotating videos of complex multi-object scenes with a globally-consistent 3D representation of the objects. We annotate each object with a CAD model from a database, and place it in the 3D coordinate frame of the scene with a 9-DoF pose transformation. Our method is semi-automatic and works on commonly-available RGB videos, without requiring a depth sensor. Many steps are performed automatically, and the tasks performed by humans are simple, well-specified, and require only limited reasoning in 3D. This makes them feasible for crowd-sourcing and has allowed us to construct a large-scale dataset by annotating real-estate videos from YouTube. Our dataset CAD-Estate offers 101k instances of 12k unique CAD models placed in the 3D representations of 20k videos. In comparison to Scan2CAD, the largest existing dataset with CAD model annotations on real scenes, CAD-Estate has 7x more instances and 4x more unique CAD models. We showcase the benefits of pre-training a Mask2CAD model on CAD-Estate for the task of automatic 3D object reconstruction and pose estimation, demonstrating that it leads to performance improvements on the popular Scan2CAD benchmark. The dataset is available at https://github.com/google-research/cad-estate.

Kwangseob Ahn

This paper investigates the "Exploitation Business" model, which capitalizes on information asymmetry to exploit vulnerable populations. It focuses on businesses targeting non-experts or fraudsters who capitalize on information asymmetry to sell their products or services to desperate individuals. This phenomenon, also described as "profit-making activities based on informational exploitation," thrives on individuals' limited access to information, lack of expertise, and Fear of Missing Out (FOMO). The recent advancement of social media and the rising trend of fandom business have accelerated the proliferation of such exploitation business models. Discussions on the empowerment and exploitation of fans in the digital media era present a restructuring of relationships between fans and media creators, highlighting the necessity of not overlooking the exploitation of fans' free labor. This paper analyzes the various facets and impacts of exploitation business models, enriched by real-world examples from sectors like cryptocurrency and GenAI, thereby discussing their social, economic, and ethical implications. Moreover, through theoretical backgrounds and research, it explores similar themes like existing exploitation theories, commercial exploitation, and financial exploitation to gain a deeper understanding of the "Exploitation Business" subject.

Sergejs Kozlovičs

We propose a software architecture where SAT solvers act as a shared network resource for distributed business applications. There can be multiple parallel SAT solvers running either on dedicated hardware (a multi-processor system or a system with a specific GPU) or in the cloud. In order to avoid complex message passing between network nodes, we introduce a novel concept of the shared SAT memory, which can be accessed (in the read/write mode) from multiple different SAT solvers and modules implementing the business logic. As a result, our architecture allows for the easy generation, diversification, and solving of SAT instances from existing high-level programming languages without the need to think about the network. We demonstrate our architecture on the use case of transforming the integer factorization problem to SAT.

Julius Marcus Reis, Leonard Grebe, Dirk Schiereck et al.

This study contributes to the ongoing debate on the persistence of stock market anomalies in equity markets (McLean and Pontiff, 2016; Jacobs and Müller, 2020) and concentrates on the day-of-the-week effect in the European real estate sector. Interest payments and settlement effects were discussed as the main factors to explain this anomaly in the past. Today the persistence is highly questionable concerning the dynamically adjusting economic and institutional environment. While previous research indicated a significant Monday and Friday effect in other sectors, literature can only support a Friday effect for real estate. Furthermore, the real estate sector has a lower level of mispricing, which makes it more difficult for an anomaly to survive (Bampinas et al., 2016). The data is splitted in three ten-year periods to analyze the effect's existence over the long term. Applying OLS and GARCH models, results reveal an evolution in a significant Friday effect for cross-country indices (Europe and Global). From 1990 to 2000, the effect is weak but significant. It gains in importance during the period 2000 to 2009. In the final period until 2020, the anomaly weakens again but does not disappear for cross-country indices. From a country-specific perspective, there is no pattern in the significance of the day-of-the-week effect. The real estate sector has a local business character. Therefore, country-specific effects are possible, but a pattern is not found. In conclusion, there is still a day-of-the-week effect in the real estate sector in Europe from a cross-country perspective.

Natalie Voland, Mostafa M. Saad, U. Eicker

The construction industry and the built environment accounts for 38% of global greenhouse gases. Significant efforts are being implemented across stakeholder categories to provide supportive guidelines and ways to address the negative impact; however, market developers need to be engaged to create the scale of impact due to large portfolios. Unfortunately, the short-term interests of private developers in real estate are to maximize profits and not to invest in long-term climate mitigation strategies. This paper will address the barriers and opportunities to incentivize, regulate real estate developers, and account for the market to adopt the lens of the B-Corp movement’s triple bottom line business practices, using business to address social and environmental challenges. Academically, accepted theories addressed through a literature review will be analyzed by a socially-oriented developer in Montreal and demonstrated through an eco-district case study. This study will identify the key stakeholders and address the life cycle thinking process to tackle the carbon impacts in the building development sector through the lens of real estate developers. This literature review will be complemented by the empirical study of one of the authors being a private developer, to link academic best practices with the market realities of real estate development. The findings of the process will outline possible solutions to real estate development that suggest cities have the opportunity to play the role of an educator, mediator, regulator, and incentivizing body to private real estate developers. Generally, critical factors of collaboration and capacity building through business modelling lists of barriers and opportunities could promote positive adoption opportunities for large-scale green development projects with a high impact on climate mitigation strategies, which could transform how the construction industry adapts to building green and socially inclusive communities.

James O. Ogunbiyi, T. Oladokun

The paper evaluated key indicators adopted by practitioners to drive the performance of real estate consulting firms of estate surveying and valuation in Lagos, Nigeria. Using probabilistic sampling technique, the study empirically found that, to achieve effective performance, estate firms considered annual revenue and return on investment crucial to their operations (financial indicators). The study also found that the non-financial indicators that were key to performance in the real estate business included improved standards, workplace satisfaction, and prompt payments for executed jobs; clients' satisfaction, referrals, and revenue increase. Established and aspiring real estate professionals will find the study beneficial in defining performance strategies for their respective firms. In other words, this study will assist real estate practitioners in determining where they should focus their efforts in order to prosper in business today and through the next decade. The study was an exploratory evaluation of the use of KPIs as a major driver of performance in the business of estate surveying and valuation.

Abubakar-Sadiq Shehu, Antonio Pinto, Manuel E. Correia

Since its first introduction in late 90s, the use of marketplaces has continued to grow, today virtually everything from physical assets to services can be purchased on digital marketplaces, real estate is not an exception. Some marketplaces allow acclaimed asset owners to advertise their products, to which the services gets commission/percentage from proceeds of sale/lease. Despite the success recorded in the use of the marketplaces, they are not without limitations which include identity and property fraud, impersonation and the use of centralised technology with trusted parties that are prone to single point of failures (SPOF). Being one of the most valuable assets, real estate has been a target for marketplace fraud as impersonators take pictures of properties they do not own, upload them on marketplace with promising prices that lures innocent or naive buyers. This paper addresses these issues by proposing a self sovereign identity (SSI) and smart contract based framework for identity verification and verified transaction management on secure digital marketplaces. First, the use of SSI technology enable methods for acquiring verified credential (VC) that are verifiable on a decentralised blockchain registry to identify both real estate owner(s) and real estate property. Second, the smart contracts are used to negotiate the secure transfer of real estate property deeds on the marketplace. To assess the viability of our proposal we define an application scenario and compare our work with other approaches

Ricardo Guerrero, Christoph Lattemann, Simon Michalke et al.

Personal services can be found in sectors such as education, retail, hospitality, and craftsmanship. As of today, personal service firms lack the know-how and experience on how to implement processes and practices to effectively build digital business ecosystems. This becomes an obstacle for these kinds of firms to overcome the challenges of todays digital age. Based on the guidelines of Design Science Research (DSR), we address this gap by proposing a maturity model, which offers specific guidance for this sector to be able to achieve the transition from analog to digital. The design of the model is grounded in a systematic literature review, semi-structured interviews, and a validation test involving company representatives from the field of personal services, business ecosystems, and digitalization. Results revealed a series of dimensions, capabilities, and maturity stages indicating an evolutionary path towards digital maturity for personal service firms. Thus, leading them to achieve a digital business ecosystem.

Kokot Sebastian

The purpose of this study is to identify regularities in the price relations between primary and secondary housing markets. The primary market and the secondary market are two related but quite differentiated sub-segments of the residential market. They particularly differ in the qualitative features of their traded objects and, consequently, also in the prices recorded in their trading. Nevertheless, they remain under the influence of the same main factors of a macroeconomic nature. This gives rise to the research hypothesis that prices of flats quoted in the sub-segments of the residential market remain in specific relationships with one another.