Hasil untuk "Real estate business"

Han Wang, Bin Chen, Jiafu An et al.

Transitioning from fossil fuels to clean energy sources is vital for carbon neutrality and sustainable development. This study evaluates the integration of photovoltaic (PV) technology into China’s extensive railway network and reveals that suitable areas on rails could potentially generate 204.6 TWh of electricity annually, equivalent to more than twice of the Three Gorges Power Station’s output, and accounting for approximately 9.2% of China’s total renewable electricity generation in 2020 (2,214.8 TWh). The proposed hybrid railway PV energy system is estimated at a national average levelized cost of electricity of 0.14 CNY kWh ^−1 , with a potential profit of CNY 77.8 billion upon transitioning from the current electricity supply. Among 371 cities analyzed, 291 (78.4%) are expected to reach a production-side grid parity, while all cities would achieve user-side grid parity. The implementation of this PV system could significantly mitigate environmental impacts, reducing carbon emissions by 126.5 Mt and lowering air pollutants, including 64 199 tons of NO _X , 44 423 tons of SO _2 , and 7789 tons of PM _X . Substantial railways in rural regions can optimize the energy consumption structure of rural residents, reducing the share of coal and liquefied petroleum gas in per capita energy consumption from 29.44% to 7.27%, and leading their average annual expenditure on primary energy sources dropping from CNY667.9 to CNY502.7—a 24.23% reduction.

Ioannis Karamitsos, M. Papadaki, N. A. Barghuthi

Blockchain is a fast-disruptive technology becoming a key instrument in share economy. In recent years, Blockchain has received considerable attention from many researchers and government institutions. This paper aims to present the Blockchain and smart contract for a specific domain which is real estate. A detailed design of smart contract is presented and then a use case for renting residential and business buildings is examined.

Rzeszut Sylwester J., Kowalski Michał J., Kazak Jan K.

The pandemic, followed by the Russian aggression against Ukraine, caused rapid changes in the economy. European countries experienced unprecedented price increases, which resulted in a significant increase in the cost of capital. This resulted primarily in limited access to capital and a significant reduction in investments in the real estate market. In addition, investors began to withdraw capital from investments in the real estate market to other assets, encouraged by their rising rates of return. The article presents how the indicated circumstances translated into the financial efficiency of companies from the Real Estate sector. Listed companies of the European Economic Area in the years 2019-2022 were analyzed. Changes in the main accounting measures and market measures for individual countries as well as the characteristics of real estate market participants were analyzed.

Драгомир Стефанов, Мария Димитрова

Производителността на труда е критична мярка за ефективността на заетите лица във всеки отрасъл и е двигател на икономическия растеж във всяка страна. Сектор „Строителство“ е в основата на урбанизацията и устойчивите практики в Европейския съюз и неговата ефективност е пряко свързана с производителността на труда – мярка за способността на сектора да изпълнява проекти навреме и в рамките на поставените бюджети, като същевременно максимизира използването на ресурсите. Целта на тази статия е да разгледа значението на производителността на труда именно в този сектор, като подкрепящ жилищното строителство, основната инфраструктура и целите на устойчивото развитие, както в отделните страни-членки, така и в Европейския съюз като цяло. Чрез сравнението на този показател в отделните държави и направения задълбочен анализ, авторите на настоящата статия целят да идентифицират ключови тенденции и добри практики, допринасящи за различията в производителността на труда. Очертани са значителни предизвикателства като застаряваща работна ръка и недостиг на умения на заетите лица, като всички те оказват влияние върху производителността на труда. Повишаването й в европейския строителен сектор е от съществено значение за постигане на целите на общността, повишаване на нейната конкурентоспособност и икономическа устойчивост.

Jii Yoo, Jae Sik Jeon

This study examines the transformative impact of the REIT Investment Diversification and Empowerment Act (RIDEA) of 2007 on Real Estate Investment Trusts (REITs) and their partnerships with operating entities in the U.S. senior housing industry. We explore how REITs, functioning as both asset owners and managers, adapt their business strategies in response to the evolving business landscape. Employing a case study approach rooted in Zott and Amit’s (2010) conceptualization of business models, the study identifies and analyzes notable shifts in market participants’ recognition of value-enhancing approaches, encompassing not only traditional rental income but also the operational performance of property managers. The findings reveal an expanded risk and profit-sharing mechanism propelled by the newly implemented business framework based on RIDEA, fostering enhanced alignment of interests between REITs and operators compared to the traditional business framework. While this effect under the new model holds the potential for significant enhancements in operational efficiency for asset managers, it concurrently introduces complexities arising from heightened financial and market risks, as well as challenges related to workforce management. Our findings offer valuable insights to industry experts, including REITs, operators, investors, and policymakers, enriching their comprehension of the evolving business models within the senior housing sector.

Iliychovski Svetoslav, Filipova Teodora, Petrova Mariana

Green Deal and achieving its objectives require changes in the development of the construction and real estate operations sectors. There are many reasons, such as the depletion of natural resources, the transition to a circular economy, decarbonization, and the new tax policies. The transition to ecological construction with minimal energy losses and pollution also means higher construction prices. This goal requires compliance with environmental, social and governance (ESG) standards. This would lead not only to a review of the strategies that companies develop but also to a change in their valuation as a whole and the valuation of individual assets. Therefore, there is a constant need to search for opportunities to improve and obtain more accurate and reliable options in the field of business valuation theory in Bulgarian practice. The relationship, the dependence between the prices of residential properties and the factors that influence them, can be presented in mathematical models, and based on them, an indicative value can be derived.

Ariyil Prajin, Weerakoon Thilina Ganganath

This study addresses the significant environmental impact of the rapidly expanding Indian real estate sector by examining energy efficiency practices through building information modelling (BIM) simulations. Employing a mixed-method approach, the research combines qualitative data from reputable literature sources and quantitative data collected via a questionnaire survey, chosen for its practicality and effectiveness in reaching a large sample size. The statistical approach involves factor analysis, utilizing the Kaiser–Meyer–Olkin (KMO) test and principal component analysis (PCA) to explore underlying data structures and identify key variables. Findings highlight the importance of boosting BIM adoption, customizing energy efficiency measures to local contexts, fostering industry collaboration, implementing monitoring mechanisms, and investing in research and development. These recommendations aim to guide industry stakeholders, policymakers, and researchers in promoting sustainable development and enhancing energy efficiency in the Indian real estate market.

Nini Wang

This article will take China's real estate market as an example, specifically analyze the great changes in China's real estate market during recent years. By performing data analysis of recent growth trend, the industry scale, profit growth rates and other factors reflect a downward trend in the housing industry. The reason of this market depression will be explored from four perspectives, one of the main reasons for this is the increased regulatory efforts of the Chinese government in the last two years. Several suggestions will be made based on the discussed reason of depression, which include the promotion of development of ESG, the relaxation of policy and re-employment.

Asmae El Jaouhari, Jabir Arif, Ashutosh Samadhiya et al.

Businesses are eager to adopt new technologies such as augmented reality, blockchain, extended reality, and artificial intelligence, among others, as they see beneficial applications for strategic empowerment. As one of the technological disruptions, metaverse has caught the attention of the larger business community and facility management (FM) sector. In a world where various virtual realities converge, the hyper-connected digital universe known as the metaverse has the potential to fundamentally alter how FM and business interactions are conducted in the future. More people are spending time conducting business online, increasing the metaverse’s potential. Businesses are also making significant investments in the development of metaverse techniques. This study reviews the current literature to comprehend how metaverse techniques have shaped the building blocks of FM by looking at 206 papers. There is currently a dearth of functional metaverse research. This article aims to provide a thorough analysis of the integration of metaverse techniques for facility management. The review reveals several opportunities for further research into the FM-metaverse ecosystem, including improving data interoperability, enhancing the precision of point cloud data for as-built models of existing facilities, and producing efficient virtual property database integration.

Elena Sergeevna Gogina, Igor’ Alekseevich Gulshin, Elena Vasilevna Spasibo

Открытие в конце XX века анаммокс-бактерий вызвало дос­таточно большой прогресс в разработке новых технологий очистки сточных вод. Процессы с участием данного вида бактерий могут протекать как на очистных сооружениях городов и поселков, так и на промышленных предприятиях в зависимости от степени загрязнения поступающих сточных вод. Данная статья посвящена сравнению различных технологий, которые сегодня предлагаются на рынке для различных целей. Сообщество микроорганизмов Anammox интересно перспективностью очистки сточных вод, насыщенных соединениями азота, но бедных органическими веществами, именно с такими сточными водами не справляются классичес­кие методы удаления биогенных элементов. Выявлено, что анаммокс-бактерии играют значительную роль в круговороте азота в природе, а также в процессе глубокой биологической очистки сточных вод от соединений азота. Рассмотрены различные технологические схемы анаммокс-процесса, которые различаются кислородными условиями, набором сооружений, а также рекомендуются для очистки сточных вод с разными концентрациями загрязнений в сточных водах на входе в очистные сооружения. В результате были выявлены перспективные направления развития в этой области. Показано, что качество очистки сточных вод, которое может быть получено использованием изученных бактерий, может соответствовать нормативным показателям.

Paweł Majka, Jacek Wantoch-Rekowski

Objectives Paper analyses the Constitution of the Republic of Poland’s limits for restricting the legislature that requires high legislative standards in area of real estate tax. Material and methods The analysis is based on the Constitutional Tribunal’s jurisprudence in the field of real estate tax that is primarily connected with taxation of entrepreneurs’ real estate. The method of dogmatic and legal analysis was used. Results The analysis of the case law of the Constitutional Tribunal concerning the assessment of real estate tax regulations allows the conclusion that the judgments concerned the two most significant practical problems (i.e., taxation of buildings and real estate connected with business activity). In almost every case the Constitutional Tribunal found the Act on Local Taxes and Fees provisions to be at least far from the standards that should be expected from tax regulations. Conclusions The source of the all legal problems is not only historical (i.e., from defective regulation of these issues 20 years ago). It seems that the current legislators are still resistant to proposals concerning profound legislative changes, including those indicated as necessary by the Constitutional Tribunal, the Supreme Administrative Court and the doctrine. A further problem is that the cascading definitions of terms using non-tax laws and the phenomenon of so-called unconscious tax legislation, which definitely affect the negative assessment of regulations, seem to be intensifying. This is evident in the recent changes in the scope of tax exemptions for railroad infrastructure or the taxation of windmills. It should also be pointed out that the authors of the proposals for legislative changes and the legislators in the background should at least take into account that tax revenue is the income of the community budget.

Gnanothayan J. Gaberial, Kauškale Linda

The construction industry forms an important part of any economy, and development of the construction industry could be of high significance for economic development. The construction industry includes the production of construction objects, consumption of resources, investment that contribute to the creation of employment places and also to the economic development of Sri Lanka. The aim of the research is to analyse the development trends of the construction industry and its interconnection with economic development in Sri Lanka. Particular focus of the research is placed on interconnection between the construction industry and economic development. Historical analysis, logical access and other methods have been used in the research. The analysis includes theoretical and practical aspects: actual tendencies and historical overview.

Leonid N. Yasnitsky , Vitaliy L. Yasnitsky , Aleksandr O. Alekseev

Существующие математические модели массовой оценки и прогнозирования рыночной стоимости жилых объектов обладают рядом недостатков: разработанные для какого-либо одного региона модели не годятся для других регионов. Все они быстро устаревают и требуют постоянной актуализации, поскольку не учитывают постоянно меняющуюся экономическую обстановку. Они не пригодны для оптимизации строительного бизнеса. Целью исследования является создание системы оценки недвижимости городов России, применимой к любым ее регионам, причем независимо от постоянно меняющейся экономической ситуации. Эта цель была достигнута благодаря тому, что в качестве входных параметров нейронной сети помимо строительно-эксплуатационных факторов были учтены географические параметры, фактор времени, а также ряд параметров, характеризующих экономическую ситуацию в конкретных регионах, в России и в мире. Статистические данные о рынках недвижимости РФ, необходимые для обучения нейронной сети, были собраны за длительный период с 2006 г. по 2020 г., что обусловило ее динамические свойства. В качестве примера применения системы были проведены виртуальные компьютерные эксперименты, которые, например, показали, что в Москве самую высокую удельную стоимость квадратного метра имеют однокомнатные квартиры минимальных размеров — 16 м2. Максимальная стоимость двухкомнатных квартир достигается при их площади 90 м2, трехкомнатных — 100 м2, четырехкомнатных — 110 м2, пятикомнатных — 120 м2. Для условий Екатеринбурга среди двухкомнатных квартир наибольшую стоимость квадратного метра имеют квартиры общей площадью 30 м2, трехкомнатных — 110 м2, четырехкомнатных — 130 м2, пятикомнатных — 150 м2. Таким образом, система может быть использована для оптимизации строительного бизнеса. Она может быть полезна государственным структурам, занимающимся вопросами управления рынком городской недвижимости, вопросами имущественного налогообложения, вопросами повышения эффективности жилищного рынка.

Vladimir Ivanovich Sarchenko, Sergey Anatol’evich Khirevich, Mikhail Vladimirovich Sarchenko

В статье подробно раскрыты перспективные вызовы для развития строительного комплекса страны, среди них: труднопрогнозируемый рост инфляции, сопровождающийся увеличением стоимости строительных материалов; снижение реальных располагаемых доходов населения, их покупательской способности; отсутствие кадров для выполнения строительных работ; рост ключевой ставки Банка России, сопровождающийся уменьшением доступности кредитных ресурсов как для населения, так и для строительных компаний; возрастающая цифровизация строительной отрасли; невозможность не учитывать ESG-принципы в инвестиционно-строительной деятельности. Авторами отмечается, что обозначенные выше вызовы обостряют вопросы конкуренции между строительными компаниями, особенно на региональном уровне. В качестве актуальных мер реагирования на вызовы в отрасли для повышения конкурентоспособности строительных компаний в новых макроэкономических условиях предлагаются следующие мероприятия: корректировка продуктовой линейки с акцентом на компактность и функциональность; использование функционально-стоимостного анализа в совокупности с технологиями информационного моделирования для оптимизации расхода строительных ресурсов; расширение мер государственной поддержки в части предоставления земельных, финансовых и инженерных ресурсов; разработка и утверждение всеми участниками рынка правил мониторинга и компенсации удорожания стоимости строительных ресурсов; синхронизация процесса создания коммунальной, транспортной и социальной инфраструктуры при комплексном освоении территории; снижение трудоемкости строительства и повышение производительности труда; использование клиентоориентированного подхода на основе концепции консенсуса интересов; комплексный сбалансированный подход к внедрению в инвестиционно-строительную деятельность принципов ESG.

Jiro Yoshida

Abstract This study analyzes how real estate depreciates in economic value as it ages. The economic depreciation of real estate affects investment decisions by decreasing appreciation returns and increasing income returns. The data show significant cross-sectional variation in depreciation rates for residential and commercial real estate for Japan and residential real estate for the U.S. The depreciation rate is larger if a property is commercial, newer, denser, located in a smaller city, more distant from the central business district, and in Japan. The depreciation rate of structures is approximately 6% for Japanese housing, 10% for Japanese commercial structures, and 1% for the U.S. housing. This study also proposes new methods to correct for survivorship biases. These results serve as essential inputs for the analysis of real estate investment, consumer choice of housing, sustainability, and the macroeconomy.

Andreas Pfnür, Benjamin Wagner

The German real estate and construction industry is facing a transformation, triggered by fundamental changes in technology, the economy and society. The purpose of this paper is to explore how these changes exert pressure to adapt on existing business models, while also offering opportunities for their further development. A model that attributes the transformation of the real estate industry to megatrends, specific structural change drivers, business models and the interaction of the groups of players in the value creation system is developed. The model is tested empirically by a survey. Structural equation modelling is used to measure the impact of various determinants of transformation and the relevance of adaptation strategies to the different groups of players. As a result, the study explains three impact mechanisms of the transformation in the real estate industry. The transformation originates from the occupiers, who need more flexible space and are focusing on holistic solutions that are not provided by the real estate industry. Service providers are striving to increase the efficiency of their traditional processes, rather than evolving new business models or services. The investors recognise the increasing importance of the occupiers but they are rarely pursuing the resulting strategies. Property developers recognise these requirements: their adaptation strategies most strongly question their previous business. For practitioners, the results point out the opportunities and risks of transformation and help to illustrate the need for change. For academicians, the results indicate a way to explain and measure the transformation of a value creation system.

Fabian Braesemann, Andrew Baum

Acknowledgement: We would like to express sincere thanks to Unissu and Crunchbase for the provision of data. Moreover, we would also like to thank the founding donors to the Oxford Real Estate Initiative (Forbes Elworthy of Craigmore and The Centre for Studies in Property Valuation and Management Trust) plus Arcadis, BCLP, CBRE, EY, Grosvenor, Nuveen, Redevco, The Crown Estate and UBS for their nancial support. The real estate industry is traditionally a slow-moving asset class. The recent hype around real estate technology or ’PropTech’ stands in stark contrast to this traditional view on real estate. It has been argued by PropTech entrepreneurs, tech evangelists and scholars that this ’digital disruption’ of the industry leads to a digitalised global real estate market. These claims coincide with observations made in other markets that went through a process of digitalisation. Data-driven markets are often characterised by a winner-takes-all competition between rms that o er platform business models centrally focused on providing digital services for users, who ’pay’ in providing more user data. In this paper, we investigate whether PropTech is actually turning real esate into a data-driven market. The quantitative ndings from an analysis of more than 7,000 PropTech rms reveal that such trends are at work in PropTech. PropTech is indeed an increasingly important, global phenomenon, with data analytics technologies at the core of the network of property technologies. In this core sector, most acquisitions between PropTech rms occurred. The ndings presented here are important for users and owners of real estate. In order to bene t from the e ciency gains associated with the digitalisation of the market, they need to become aware of the business value of data they are generating in buying, renting, or managing real estate.

H. Hou, Haotian Wu

Led by the rapid advancement of information technology in engineering, business and creative industries, the emergence of new technology such as virtual reality (VR) and its use in education and practices are clearly observed. Although widely spread in industry practices, technology-led innovation is applied rather slowly in the tertiary real estate education. This paper examines the integrative effect of VR technology in a real estate course.,This study adopts a case study approach. Using an experimental course design and delivery in a business school real estate programme from Hong Kong, this paper shows the design, development and implementation of an innovative teaching model with VR being integrated. A survey was conducted to gain feedback information from participating students towards teaching innovation. It identifies the role and values of adopting VR technology in real estate education as pedagogical tool.,A new teaching model integrated with VR technology to deliver a real estate course has demonstrated its ability and potential to assist the development and enhancement of student's sense of value and place, as well as improving communicative efficiency of property investigation and the analysis of trade process. Findings from the study have implications for future global real estate industry practice and education.,The critical role of information technology to revolutionise the global economy and its real estate sector is apparent. Few studies have inquired about attempts and experience of integrating VR technology in real estate education towards direct link to industry practice. This paper is a major attempt to bring attention to this important concern.

Nikolai Tuzov

The article deals with the issues of environmental (“green”) construction in Russia in relation to the tasks of low-rise and individual development. The article describes the history of the formation of the ecological construction market in Russia and abroad, gives a general classification and the main directions of its development. The ad-vantages of green construction, the problems that hinder the rapid development of ecological construction and the stimulating factors of such development are described. The applicable standards of green construction are indicated, both established by the state in the form of normative legal acts, and voluntary, and the advantages of following environmental standards are shown. Practical examples of ecological construction and problems faced by developers in practice are given. The concepts of Passive House, energy-efficient house and non-volatile house are considered in detail, indicating the ways to use the elements of such concepts in the implementation of real construction at the moment, including some practical examples of technical and technological solutions, as well as ways to further improve them. Examples of low-rise buildings currently under construction using standards and principles of ecological construction are given. The Russian standards of green construction are considered in de-tail, with references to specific regulations and other sources regulating the issues of ecological construction, and the ways of their further development and improvement are indicated. A mathematical model of the order of construction of eco-mobility facilities is proposed, where the capital return indicator is selected as an important criterion, which is determined taking into account the different times of costs for the objects being introduced. Its maximization leads to the choice of such an option, which will be characterized by the largest intermediate volume of input objects, as well as the smallest amount of reduced capital investments, i.e. their more rational dynamics. Thus, this indicator characterizes the efficiency of using capital investments, as well as their return as a result of reducing construction in progress.

Mohammad Reza Komari Alaei, Mehmet Soysal, Atabak Elmi et al.

The present research addresses the single transportation robot used to alleviate problems of robotic cell scheduling of the machines. For the purpose of minimizing the make-span, a model of mixed-integer linear programming (MILP) has been suggested. Since the inefficiency exists in NP-hard, a decomposition algorithm posed by Bender was utilized to alleviate the problem in real life situations. The proposed algorithm can be regarded as an efficient attempt to apply optimality Bender’s cuts regarding the problem of parallel machine robotic cell scheduling in order to reach precise resolutions for medium and big sized examples. The numerical analyses have demonstrated the efficiency of the proposed solving approach.