Simona Panaro, Stefania Regalbuto, Gaia Daldanise
et al.
Although ports are important for the economic development of a territory, they can generate significant negative impacts on surrounding areas. Consequently, transformation processes in port areas frequently precipitate conflict at different levels. By contextualising the 2030 Agenda objectives within port cities, it is possible to support the city and port institutions in developing projects and strategic plans that foster sustainable development and strengthen city-port relationships. Through the Social Multi-Criteria Evaluation (SMCE) implemented by the SOCRATES method, the paper shows an ex-ante impact evaluation of urban policies by comparing technical solutions with social compromise solutions. The proposed methodology has been tested in the East Naples portcity area (Italy) to assess the impacts of different and conflicting urban transformative policies. The primary research outcomes are twofold: first, the development of a SMCE methodology to support an inclusive and sustainable regeneration of port areas; and second, the testing of the SOCRATES method to identify technical and social compromise solutions within a multi-group environment.
Jye West, Ana Evangelista, Milind Siddhpura
et al.
IntroductionThis study examines the complex link between regular maintenance procedures and the effectiveness of business-related assets in Australia. Commercial buildings are essential to the country’s economy, and the variables affecting their worth must be carefully analysed.MethodsThis study evaluates the relationship between asset value and maintenance frequency, examines how maintenance practices affect building performance, and considers industry perspectives on improperly versus correctly maintained assets.ResultsThe study’s findings highlight the significance of renovations, along with adaptive reuse, in raising asset value; however, despite various maintenance techniques available, the Australian commercial building industry has challenges. Budgetary constraints, for instance, pose a significant hurdle, with many companies struggling to allocate sufficient funds for comprehensive maintenance plans. The findings of this research highlight the positive shift towards technology-driven maintenance procedures in business establishments in Australia. The adoption of computerised Maintenance Management Systems (CMMS) and Building Management Systems (BMS) is rising, automating repetitive tasks, improving maintenance procedures, and enabling data-driven decisions.DiscussionThis study thoroughly explains the complex processes influencing the value and usefulness of commercial architecture resources in the Australian setting by addressing the differing perspectives within the real estate industry. Future research on this topic should focus on recognising the psychological components of decision-making concerning maintenance practices. Investigating how psychological prejudices, perceptions of danger, and organisational culture affect the choices made by property owners, facility administration, and others can help us better understand why some maintenance methods are preferred over others.
Engineering (General). Civil engineering (General), City planning
Belikov Juri, Matskevich Aliaksei, Kose Ahmet
et al.
The collective building stock is a major energy consumer, driving political discussions and forcing building owners to seek out cost-effective technologies. This creates a business opportunity in demand response (DR) services for commercial real estate. Despite recent efforts, developing a simple, scalable model remains an open question. We develop a real-time method for estimating electricity consumption profiles and inertia, enabling a bidding strategy on the DR market without compromising indoor climate. Accurate prediction of temperature changes is achieved through efficient models validated with real data.
Recent studies highlight an increasing focus on models that incorporate a wide range of economic data, which is made possible by enhancing traditional vector autoregression (VAR) models with one or more factors. The present study aimed to apply the self-explanatory model of the generalized factor vector autoregressive (FAVAR) to investigate macroeconomic and housing market shocks from 1991 to 2022, on a relatively small annual scale. It examined the effects of production shocks, inflation, exchange rates, oil revenues, and the money supply. Housing price levels were estimated using four indices: housing price, fuel and lighting, real estate, rent, and business activity. Additionally, the rental housing index in Tehran and the price index of construction services were used to estimate investment levels in the housing sector. The analysis also included data on new housing investment in major cities, total investment in new houses in Tehran, the number of permits issued by municipalities in urban areas, and the number of permits issued in Tehran. The results revealed that macroeconomic shocks (inflation, production, exchange rates, money supply, and oil revenues) create a wave-like effect in the housing sector, with this effect lasting approximately 6 to 8 years. Inflation, money supply, and exchange rates, compared to GDP and oil revenues, have a greater impact on the housing market. Given the varying effects of these macroeconomic shocks, the central bank and monetary authorities should consider the responses of all sectors to develop more accurate housing plans during monetary policy formulation.IntroductionPlaying a key role in intensifying economic booms and busts, the housing market is a crucial component of the Iranian economy, which can be influenced by macroeconomic shocks. A significant portion of housing demand stems from its function as an asset. When macroeconomic shocks occur, they impact the opportunity cost of holding durable goods (e.g., housing) by increasing inflation, money supply, exchange rates, and oil revenues. These shocks influence both the demand for housing as an asset and the demand for housing services, altering the relative returns on housing investments. As a result, individuals adjust their asset portfolios, including housing, in response to these economic shifts. Consequently, housing demand as an asset fluctuates accordingly. The current study highlighted the conflict between two economic objectives: fostering production and investment growth versus managing inflation, macroeconomic shocks, and their adverse social and distributional effects. The expansion of the housing market can mitigate macroeconomic shocks by improving housing availability for households, contributing to sectoral and national economic growth. However, it may also drive up housing prices. Using the self-explanatory model of the generalized factor vector autoregressive (FAVAR), this empirical research aimed to examine the impact of macroeconomic shocks on housing prices in Iran’s economy.Materials and MethodsThe present study used time series data on macroeconomic variables and bank stability from 1991 to 2022. The data selection followed the general classification outlined in Bernanke et al. (2005), which includes production, inflation, money supply, oil revenues, exchange rates, and the housing market. Since the estimation of factors using the FAVAR requires stationarity, tests such as the generalized Dickey-Fuller unit root test were conducted on the variables. The modeling of FAVAR was based on Bernanke et al. (2005), while the model estimation followed the expectation-maximization algorithm as proposed by Dempster et al. (1977) and Shumway and Stoffer (1982). All variables were obtained from the time series databases of the Central Bank and the Ministry of Housing and Urban Development. After estimating the FAVAR model using EViews and SPSS software, the study presented the instantaneous response analysis of the model variables concerning the key variables over ten periods. The variables were transformed into logarithmic form, and their growth rates were calculated.Results and DiscussionThe response of housing prices and investment in the housing sector to a one-standard-deviation shock was immediate and significant, indicating that the economy quickly adjusts to the shock’s influence in the initial years. As shown in Figure (1), shocks related to production, money supply, exchange rates, oil revenues, and inflation created a wave-like effect in the housing sector, with a duration of approximately 15 years (15 periods), reflecting a period fluctuation. A one-standard-deviation shock in the exchange rate initially caused both housing investment and prices to rise. However, the impact gradually diminished, with investment converging to zero after 9 periods and housing prices after 8 periods—which aligns with expectations. Similarly, a one-standard-deviation shock in money supply initially increased investment in the housing sector while causing housing prices to decline. After 4 periods, both investment and prices converged towards zero, as anticipated. In the case of inflation, a one-standard-deviation shock initially reduced investment in the housing sector, followed by an increase. At the same time, housing prices rose with the inflation shock but gradually declined, with both investment and prices converging towards zero after 8 periods. A shock to GDP led to an initial increase in housing investment and a decline in housing prices. Over time, these effects diminished, with investment and prices converging towards zero after 4 periods and 3 periods, respectively. A one-standard-deviation shock in oil prices resulted in an increase in both housing investment and prices. However, these effects waned, with investment converging to zero after 4 periods and housing prices after 3 periods. Overall, the impact of these shocks diminished over time and eventually converged to zero, as it was anticipated. Figure 1. Macroeconomic shocks ConclusionAccording on the results of the FAVAR model, macroeconomic shocks have both direct and indirect effects on the housing sector and other markets. Macroeconomic shocks were found to increase demand in the housing sector, as housing is an asset that can absorb shocks over the long term and helps preserve the value of money to some extent. The housing channel also exhibited a consistent degree of price stickiness in response to these shocks. The analysis of macroeconomic shocks on housing prices and investment suggested that increasing demand for smaller housing units would drive future demand toward compact-sized homes. This shift is largely due to the declining purchasing power of the middle class, which has been severely impacted by recent shocks of inflation, monetary supply, exchange rates, and oil revenues. As a result, lower-income groups are left with little financial strength to afford housing. The growing gap between housing costs and household income further contributes to this trend. Moreover, the increasing share of housing costs in household expenditures—observed even during periods without economic sanctions—underscores this financial strain.
David Ngwoke Mbazor, Clinton Ohis Aigbavboa , Wellington Didibhuku Thwala
Nowadays, there exists a high incidence of competitions between organizations seeking control, relevance, and dominance in the market space due to globalization exacerbated by the continuous advancement in technologies, high customers’ tastes, and expectations. Thishas significantly influenced organizational decisions leading to constant reevaluation of operational procedures, adopting and implementing changes that will influence positive business outcomes. The literature search revealed that past studies on organizational leadership focused mainly on elements of leadership styles, strategies, and ethics. Hence, studies have not identified the factors that influence organizational leadership for adequate housing delivery in Nigeria. The study identified the factors that influence organizational leadership in the delivery of housing in Nigeria using the Broaden and Build theory, and Kurt Lewin’s leadership philosophical concepts as the fundamental basis underpinning the study. Delphi study approach was used to determine the areas of commonality before a consensus was reached. A structured questionnaire was administered to validate and removing outliers from the result. The Delphi study identified 20 distinct factors that influence organizational leadership for AHD in Nigeria. Factors such as organizational sustainability, motivation, etc., are the most significant factors influencing organizational leadership towards AHD. However, results from SEM analysis showed that only 12 variables are significant in measuring organizational leadership and management for AHD. The study concludes that the 12 identified factors are significant in AHD. Nevertheless, the application of these factorsin housing delivery is still low in Nigeria. Hence, it is recommended that real estate developers and other operators in housing should use the result from this study as a template for developing adequate housing.
Italian cities have been touched by two major events, the 2008 and 2012 crises and the Covid-19 pandemic in 2020 and 2021. The research aimed to verify whether, and in what way, Italian cities have embarked on a path of transformation, outlining their possible trajectories of change in the intervening decade. The cities considered were the metropolitan cities to which the legislature has assigned the role of territorial reference for areas of a regional nature. The research examined real estate market values for their ability to represent a city’s degree of attractiveness in synthetic form. The other variables used made it possible to detect trends in the determinants of the real estate market: economic growth, demographic development and changes in the territorial capital endowment. Concerning the research objectives, cluster analysis appeared to be the most suitable tool to represent changes by aggregating cities according to common patterns. The survey considered the reactions of the different cities in the two five-year periods related to each exogenous shock and, overall, in the decade under review for a long-term reading of the trends. The conclusions reached by the survey show how, between 2012 and 2017, there was a concentration of wealth and population in the major centers and in particular in the city of Milan, characterized by rising property values against a generalized decline in the Italian market. In the second five-year period from 2017 to 2022, the pattern is reproduced with similar intensity, despite a vast debate on the crisis of large cities and their sustainability in the face of the pandemic. An overall ten-year view from 2012 to 2022 of metropolitan cities shows trends with a sufficiently solid and stable character. In the case of Milan, the expression of a clear-cut process of concentration on which the pandemic has had no effect, is counterbalanced by a second cluster of peripheral metropolitan cities that are suffering from processes that penalize their development prospects, while the third cluster of cities is distinguished by a profile that combines opportunities for growth and critical aspects in demographic and economic terms.
Le città italiane sono state toccate da due importanti eventi, la crisi del 2008 e del 2012 e la pandemia Covid- 19 nel corso del 2020 e 2021. La ricerca ha l’obiettivo di verificare se, e in quale modo, le città italiane hanno intrapreso un percorso di trasformazione, delineando le loro possibili traiettorie di cambiamento nel decennio intercorso. Le città considerate sono state le città metropolitane cui il legislatore ha attribuito il ruolo di riferimento territoriale per ambiti di carattere regionale. La ricerca ha esaminato i valori del mercato immobiliare per la loro capacità di rappresentare in forma sintetica il grado di attrattività di una città. Le altre variabili impiegate hanno permesso di rilevare l’andamento dei determinanti del mercato immobiliare: crescita economica, sviluppo demografico e variazione nella dotazione di capitale territoriale. Rispetto agli obiettivi della ricerca, la cluster analysis è apparsa lo strumento maggiormente idoneo a rappresentare i cambiamenti aggregando le città secondo pattern comuni. L’indagine ha considerato le reazioni delle diverse città nei due quinquenni legati a ciascun shock esogeno e, complessivamente, nel decennio in esame per una lettura di lungo periodo delle tendenze in atto. Le conclusioni cui perviene l’indagine evidenziano come tra il 2012 e il 2017, vi sia un percorso di concentrazione della ricchezza e della popolazione nei centri maggiori e in particolare nella città di Milano, contraddistinta da valori immobiliari in crescita a fronte di un declino generalizzato del mercato italiano. Nel secondo quinquennio dal 2017 al 2022, lo schema si riproduce con analoga intensità, a dispetto di un vasto dibattito sulla crisi delle grandi città e sulla loro sostenibilità alla prova della pande- mia. Una visione complessiva decennale dal 2012 al 2022 delle città metropolitane evidenzia tendenze do- tate di un carattere sufficientemente solido e stabile. Al caso di Milano, espressione di un processo di concentrazione chiaro e netto su cui la pandemia non ha avuto effetti, fa riscontro un secondo cluster di città metropolitane periferiche che scontano processi che ne penalizzano le prospettive di sviluppo, mentre un terzo cluster di città si distingue per un profilo che unisce opportunità di crescita e aspetti critici sotto il profilo demografico ed economico.
Vladimir Ivanovich Sarchenko, Sergey Anatolеvich Khirevich
Для воплощения идеи устойчивого развития городских территорий в статье рассмотрены задачи управления устойчивым развитием всего земельно-имущественного комплекса. Отмечено, что основой развития в городе является земельный участок, который в процессе преобразования проходит следующие стадии: 1) идея и формирование замысла проекта улучшений; 2) проектирование улучшений; 3) строительство; 4) эксплуатация; 5) ликвидация объекта. Авторами отмечается, что для эффективного воспроизводства жилого фонда необходимо использовать инструменты пространственно-экономического моделирования проектов комплексного развития территорий. По результатам анализа базовых составляющих основного элемента планировочной структуры города была сформирована стоимостная модель комплексной застройки городских территорий, которая включает в себя помимо основных инфраструктурных элементов (социальная, инженерная, общественно-деловая, жилищная, транспортная инфраструктура, а также инфраструктура экономической деятельности) коэффициенты улучшения для каждого инфраструктурного блока, которые отражают необходимость повышения качества базовых элементов по сравнению с нормативным для увеличения совокупной капитализации городских активов. Отдельно представлены источники финансирования комплексной застройки городских территорий по двум инфраструктурным блокам, которые подразделяются на: средства домохозяйств, застройщиков (девелоперов), участников долевого строительства; средства ресурсоснабжающих организаций; бюджетные ресурсы; заемные ресурсы. Для комплексного развития площадей, не вовлеченных в градостроительную деятельность, предложены стоимостные модели комплексного развития территорий, занятых промышленными предприятиями, ветхими индивидуальными жилыми домами, дачными и садовыми товариществами, а также нарушенных городских территорий (мелководные и подтопляемые, овраги, крутые склоны). Учет особенностей каждой территории послужит стимулом для устойчивого развития как городов, так и страны в целом.
The outlook for the expansion of China's real estate business is a popular topic of conversation. In 1980, Comrade Deng Xiaoping recommended that the housing reform should follow the path of commercialization; by 1998, the commercial housing system had been formally implemented. Throughout the past 24 years, China's real estate market has endured periods of prosperity, depression, and crisis. The purpose of this essay was to assess the goods and financial status of key Chinese real estate companies and provide more precise solutions to difficulties. Due to the rapid economic development of China's real estate business, some regions refer to the real estate economy as a bubble economy, and it is crucial to examine the industry's trends and demands. Excessive housing costs, over-development, overwhelmed individuals, and other issues require immediate resolution. In this post, we will give real estate sector proposals based on China's national conditions, including government-guaranteed low-rent housing, affordable housing, etc. Propose a new sort of community to alleviate the strain on the populace and resolve a portion of the subsistence issue. Considering the issue from the standpoint of development, the demand potential for Chinese real estate is enormous, and the development potential is vast.
Концепция долгосрочного социально-экономического развития Российской Федерации предопределяет обеспечение устойчивого развития сельских территорий, а также повышение уровня жизни сельского населения. Оптимизировать эти процессы в рамках грамотной градостроительной политики можно путем создания геоинформационной системы их поддержки. Геоинформационные системы позволяют обеспечить устойчивое развитие территории за счет использования инструментов моделирования при планировании комплекса природоохранных мероприятий, а также мер по улучшению сельскохозяйственной пригодности земель. В статье описан процесс интеграции данных для проведения комплексной оценки территории Ростовской области, описана методология проведения данного исследования и выведены ключевые факторы, обеспечивающие показатели сельскохозяйственной пригодности земель. Представлен подготовительный этап сбора информации для создания имитационной модели. Обоснование решений по планированию развития сельских территорий также осуществляется с помощью подробной классификации земель и антропогенных факторов, влияющих на устойчивость всей ландшафтной системы субъекта Российской Федерации. Для расчета сельскохозяйственной пригодности территории используется метод объективной функции и применение матрицы приоритетов. Разработан комплекс природоохранных мероприятий, основанный на уровнях и видах ущерба и загрязнения территории субъекта Российской Федерации. Представленный комплекс мер является стандартным, но включает оценку их эффективности. Результатом исследования являются карты Ростовской области по параметру сельскохозяйственной пригодности территории для развития растениеводства до и после проведения корректирующих мероприятий. Заключение содержит выводы о перспективах использования имитационной модели, ее многогранности и преимуществах.
Anna Bartkowiak, Piotr Bartkowiak, Grzegorz Kinelski
Currently, one of the main directions of agricultural development in Poland is the pursuit of sustainable development, rational management of material resources, and striving for energy self-sufficiency, while maintaining low greenhouse gas emissions. It is an alternative to constantly supported coal solutions. Sustainable development in the sense of processes taking place in enterprises affects many key areas of their activity. One of them is the measurement of efficiency, another is the compatibility with nature and the environment, and the perception of humans and their role. Measures of enterprises’ effectiveness should be considered in relation to the objectives of the enterprise. Biorefineries play a special role in shaping the new energy reality, being a system that connects various devices and biomass conversion processes to produce energy, fuel, and other valuable products. The essence of the functioning of biorefineries is as value chains; that is, a series of interrelated activities of specific importance and market value. The study aims to identify the determinants and efficiency of value chains in agricultural biorefineries according to the concept of sustainable development and the use of biomass resources in biorefining processes. Identifying and analyzing individual stages allows one to demonstrate the effectiveness of the implementation of technology using renewable energy sources, according to the concept of sustainable development and the implementation of the direction of the circular economy.
Incessant migratory flows move towards nations or cities where they can find better living conditions, driven by economic inequalities, political and social instability, war conflicts and environmental emergencies, and generate real or perceived perturbations in the social and economic organization of territories. The changes in value, social, spatial and economic systems resulting from migration flows were debated during the SIEV conference “Values Spaces Migrations. Identity and Otherness in the Multicultural City”, which took place in October 2020
Incessanti flussi migratori si muovono verso nazioni o città in cui trovare condizioni di vita migliori sospinti da sperequazioni economiche, instabilità politiche e sociali, conflitti bellici ed emergenze ambientali, e generano perturbazioni, reali o percepite, sull’organizzazione sociale, ed economica dei territori. I mutamenti dei sistemi valoriali, sociali, spaziali ed economici conseguenti ai flussi migratori sono stati dibattuti durante il convegno SIEV “Valori Spazi Migrazioni. Identità e alterità nella citta multiculturale”, che si è svolto nel mese di ottobre del 2020.
Purpose: This research is about the added value of occupancy sensing and the factors that influence the added value. The objective of this research is to gain insight into the added value of occupancy sensing from a facility management perspective and the factors that influence the perceived added value. Design/methodology/approach: The paper provides insight into the added value of occupancy sensing from a facility management perspective, obtained through qualitative research. By conducting interviews with suppliers, users and an organisation that consciously chooses not to use occupancy sensing, the added value becomes apparent. The interviewed experts were approached as a result of selected articles or through the Saxion UAS network. The people who responded were interviewed. A limited number of 10 interviews was chosen because that was the minimum number of interviews required for this study. Findings: Several factors influence the added value of occupancy sensing. From the literature, these are data maturity, human behaviour and the quality of sensors. For the study, goal/motivation, preconditions and data or Information Technology (IT) were added. The interviews showed that organisations choose occupancy sensing mainly because smart buildings are on the rise, it is popular and they can make decisions based on the data and evidence. The most important precondition is that it must be known in advance what needs to be measured and that the facility managers are included in the process. The most significant influence on the success of added value is human behaviour. If the end users are not included in the new way of working, there is a good chance that they are not satisfied and that there is no added value. The functioning of IT and the use of the data also influence the added value. This research shows that added value is only achieved if the preconditions are met and factors such as human behaviour are taken into account. When this works well, facility management as a department will also be able to deliver substantial value to the entire organisation. Research limitations/implications: The limitations of this research were that there was only one interview with a non-user. Their opinion would be more valuable where the respondents are asked more about the data maturity of the organisation and their alignment with the organisation’s strategy. The limitations mainly have to do with the limited time frame of the research. In further research, it is also indicated that for a more complete study, this time frame should be extended. Practical implications: The results can be used by everybody who needs to get insight into the use of occupancy sensing from a facility management perspective and the added value for facility management. Originality/value: While there is a significant amount of literature on occupancy sensing and the use of sensors in office environments, there is only limited research on the added value of occupancy sensing from a facility management perspective. Paper type: Research paper. The literature review shows that the added value of facility management is difficult to make tangible. Many organisations see facility management as a cost item, and therefore, the costs must always be taken into account. There is a shift from cost to added value for the organisation, but this only works if the strategy of facility management (FM)/corporate real estate management (CREM) is aligned with the strategy of the organisation. In many cases, this does not yet appear to be the case. For future research, the advice is to look more into other smart features and their added value. Data maturity is a limitation of this research, and the relationship between data maturity and facility management should be studied more. The future is digital and data-driven, and there are not sufficient studies on that.
The article deals with the concept of quality and compliance in the context of the short-cycle professional higher education (SCHE) program in the field of real estate management. The article highlights the role of graduates and employers in assessing the quality and compliance and surveys of students as well. The surveys of students, graduates and employers and the analysis of legislation allow assessing the quality and compliance of SCHE study program in real estate management. Currently, in Latvia, the qualification of a house manager can be obtained at three accredited higher education institutions, studying in a short-cycle professional higher education program, which, in accordance with European Qualifications Framework (EQF), is the first-level professional higher education program. The article will mainly focus on the quality and compliance of the house managers’ professional qualification acquisition in short-cycle higher education programs in Latvia. Data analysis, synthesis and logical construction methods have been used in this article.
Real estate business, Regional economics. Space in economics
The housing markets have played an important role in driving macroeconomic fluctuations, especially during the recent financial crisis. Residential investment is a form of real estate investment that constitutes one of the world most valuable assets due to its durability. Housing investment is an important component of household wealth. There are a lot of factors that affect the demand and supply of housing investment. We investigate the correlation between housing dynamics and the business cycle for a variety of countries. Our empirical results exhibit the two daunting facts of the housing market, especially in the United States.
Karoliina Rajakallio, Miro Ristimäki, Mia Andelin
et al.
Successful business model renewal requires the companies to understand the changes that the new business model causes with respect to their activities, value drivers and value appropriation logic. The study employs a comparative case study strategy. Conceptualizing business models as activities, the changes that adopting an integrated solution business model to implement a real estate development causes to the business models of companies in the project delivery network, compared to their business models applied in conventional project delivery networks following a disintegrated approach, is analyzed. The findings suggest that the shift towards more integrated project delivery models causes significant changes in the alignment of value drivers and value appropriation mechanisms across the network of firms. Simultaneously, companies adhere to their existing activity content and governance. The results contradict previous studies on the organizational impact of shift towards integrated solutions. Existing research on integrated solutions and alliances has primarily focused on developing practices from the perspective of a customer - producer relationship. This study gives valuable insights related the importance of the internal logic of the service providers in achieving successful project coalition.
Preliminary data analyses in decision-making systems and procedures are very important for numerous reasons, in particular because the accumulation and analysis of large data sets is costly and time-consuming. The effective use of decision support systems, including on the real estate market, requires the elimination of noise. The authors have proposed to eliminate redundant data with the use of the modified method for evaluating the capacity of the data set, which is applied in the process of classifying the condition of real estate markets. The proposed procedure (subsystem) is an attempt to improve the effectiveness of analyses relating to the development of methods for rating real estate markets. The proposed solutions will be simulated on the example of leading real estate markets in Poland and Italy.