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.

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.

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.

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.

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.

Petr Grigorievich Grabovyy, Dmitry Fedorovich Zhikharev

Измерению производительности на предприятиях стройиндустрии и в строительной отрасли в целом может помешать разнообразие производимой продукции и используемых ресурсов. Человеко-часы нельзя складывать с м3 выложенной бетонной смеси, рублями капитального оборудования, киловатт-часами и т.п. для получения суммарных ресурсов. ПАО «Казанский ДСК» или строительная группа «Самолет» не вправе складывать м2 наружных панелей, м2 построенных каркасных площадей объектов жилой и коммерческой недвижимости методом непрерывного бетонирования и т.п., чтобы получить итоговую продукцию. Так как выигрыш и потери, связанные с производительностью, распределяются через системы цен между потребителями предприятием домостроения, то для анализа такого распределения представляется уместным использовать мерило этой системы — деньги; в России удобным общим знаменателем служит рубль. Однако рубль — величина переменная, особенно в нынешних экономических усло­виях. При использовании денежной единицы рубля в качестве инструмента агрегирования эти колебания необходимо минимизировать. Одна из главных особенностей предлагаемого подхода состоит в наличии соответствующего корректирующего (ревальвирующего) механизма. Этот метод позволяет: • измерять степень влияния изменений производительности на прибыль; • определять, насколько приемлемы и разумны изменения производительности в отношении интегрального показателя потенциалоемкости предприятия; • установить влияние уровня производительности предприятия на его конкурентные позиции на территориальном уровне жилищной и коммерческой недвижимости. В статье дается оценка основным критериям потенциалоемкости (результативность) и их влияние на прибыльность и производительность.

Svetlana Ignjatijević, Jelena Vapa Tankosić, Nikola Puvača et al.

Over the past decade, a growing interest of consumers in the consumption of organic milk has been recognized, mostly because of its positive effect on human health, besides other various positive effects. The main goal of organic milk production is to bring agricultural production in close alignment with the requirements of a sustainable system. Human capital in organic farming is an important factor as it significantly influences production and financial results. As an important factor in the production, socio-economic characteristics of producers considerably determine possibilities of the future development of this system of production in a certain country. Focusing on the aspect of human capital, this paper examines the possibilities of the development of organic agricultural production in the Republic of Serbia. The research has been conducted on the territory of Serbia on individual farms which are certified for organic farming. Following the findings, the authors conclude that human capital in organic milk production of the Republic of Serbia does not represent a limiting factor in the future development of this system and that human capital in terms of learning and education, experience and expertise, innovation and creativity, and sources of knowledge has a positive relationship with the business performance.

Alexander Kokorev, Vladimir Kuzmenko

The article presents the analysis of the current state of the construction industry in the region, and also shows the evolution of the main indicators of its operation. The aim of this study is the diagnosis of the problems of the real estate market of Stavropol Region and determining ofprospects of achievement of balance of characteristics of the demand and supply. As a result, the analysis identified priority areas for increased funding of the construction business by improving the tools of mortgage lending and other resource sources.

M. Z. Sulaiman, M. Aziz, M. H. Bakar et al.

Real estate business was highlighted in several reports as one of the critical economic sectors affected by the pandemic COVID-19. The potential buyer cannot visit the property to experience the real space physically as before anymore. In this situation, an advance tool is needed to improve the marketing strategy in the real estate business. Currently, the 360 photography and virtual tour have become the most relevant marketing strategy to sell the property. As a new approach, Matterport, as one of the online platforms, is presented. The study engaged in an archival method or document review, thematic and content analysis. Four themes between the conventional approaches and Matterport online application were compared and discussed which are: (1) accessibility, (2) visual capture, (3) details information, (4) visual experience. This paper presents and explains the Matterport as a new platform for the marketing approach, which aims at helping the real estate business to survive during the pandemic COVID-19.

Upendar Rao Thaduri

This article aims to discuss an investigation centered on constructing a real estate app based on developing technologies such as Artificial Intelligence and Virtual Reality. Artificial Intelligence and Virtual Reality technology in the real estate industry are investigated in this paper, along with its potential benefits and drawbacks. Both virtual reality (VR) and artificial intelligence (AI) technologies have a lengthy history in the academic world, dating back to the middle of the previous century; however, they have not been developed to the same level due to a lack of vast amounts of data and the computer capacity both technologies demand. Because the proliferation of IT technologies in recent years has helped to remove technical constraints, there has been a sharp rise in interest in virtual reality (VR) and artificial intelligence (AI) technologies in society and among the general public during the past several years. Not only the research and theoretical concepts about the virtual world but also the practicability of businesses operating in a variety of sectors are becoming an increasingly important aspect. When it comes to virtual reality, in particular, pictures that include 360 degrees are where the attention is being directed. The entire setting can be caught in a three-dimensional space using specialized cameras, and the resulting footage can be pieced together so that the spectator will feel as though they are present in the room and can observe what's going on from that vantage point. This paves the way for the presentation of many alternatives. The study's primary focus was the application of artificial intelligence and virtual reality, which is significant to the real estate field. This article explains how artificial intelligence (AI) and virtual reality (VR) technology can benefit the real estate business.

Alireza Gharahighehi, Konstantinos Pliakos, Celine Vens

The shift to e-commerce has changed many business areas. Real estate is one of the applications that has been affected by this modern technological wave. Recommender systems are intelligent models that assist users of real estate platforms in finding the best possible properties that fulfill their needs. However, the recommendation task is substantially more challenging in the real estate domain due to the many domain-specific limitations that impair typical recommender systems. For instance, real estate recommender systems usually face the clod-start problem where there are no historical logs for new users or new items, and the recommender system should provide recommendations for these new entities. Therefore, the recommender systems in the real estate market are different and substantially less studied than in other domains. In this article, we aim at providing a comprehensive and systematic literature review on applications of recommender systems in the real estate market. We evaluate a set of research articles (13 journal and 13 conference papers) which represent the majority of research and commercial solutions proposed in the field of real estate recommender systems. These papers have been reviewed and categorized based on their methodological approaches, the main challenges that they addressed, and their evaluation procedures. Based on these categorizations, we outlined some possible directions for future research.

Mohammed Jibrin Katun, Sulyman Aremu Olanrewaju, Aliyu Abdullahi Alhaji

Urban densification has attracted much attention in recent times, particularly in addressing certain urban problems such as urban sprawl and promoting compact development, though problems of unplanned densification are yet to be addressed in the literature. This paper examines space and time dynamics of urban densification, where patterns and changes in the residential densification of Bida urban area in Nigeria are assessed. The study relied on point features representing buildings for the years 2008, 2013, and 2018 digitized using ArcGIS 10.6. The data were analysed using Point Density spatial method to develop the spatiotemporal models which were further reclassified into three categories: low, medium, and high densities, respectively. The paper has found out that residential densities increase along the urban-rural gradient with clear evidence for unplanned urban densification as a result of the organic growth. Therefore, there is the need for planned densification in urban development which can curb the increasing residential density that reduces green and open spaces.

Sergey Igorevich Belyakov, Оksana Anatol’evna Kurakova

2021 marks the 100th anniversary of MISI–MGSU –– the leading civil engineering university in the USSR and modern Russia. The years of the university’s century-old history were filled with bright events and outstanding achievements in the field of education, science, technology and public life, but the point is that MISI–MGSU has always been at the forefront of the country’s development, contributing to the accomplishment of comprehensive strategic tasks dealing with the Russian economy to ensure the well-being of every citizen in the country. Many research papers have addressed the history of the university. It is impossible to address all major milestones of the century-long history of the university development in one article or even a book. This article is intended to introduce readers to the most significant dates in the history of MISI-MGSU and, thereby, identify the idea that brings generations of teachers, students and graduates into a single community proudly called “the MISI people”. These dates are interwoven with the history of the country, the industry, institutes, departments, scientists, teachers and students, and everyone whose life is inextricably linked with the main civil engineering university of Russia. The National Research Moscow State University of Civil Engineering celebrates its centenary, relying on the experience and traditions of many generations of scientists, teachers and students, developing its established research schools and creating new areas of research, promptly responding to the needs of the real sector of economy and society as a whole. The university faces ambitious tasks, and its entire previous hundred-year history is the key to their successful solution.