IT governance in the real estate industry: a framework suggestion

Abstract

Purpose - Information technology is the core issue that all the companies need to re-evaluate and re-organize to adapt themselves to the digital world. This study investigates the critical IT governance factors for effective and sustainable success and the growth of real estate investment companies and developing a new IT governance framework. Methodology - The common literature about IT governance is searched and by taking into consideration of the dynamics of the industry, the conceptual framework is developed for specifically real estate industry. Findings- The model developed is suggesting the corporate cultures, organizational structures and industry culture as critical IT governance (ITG) existence factors for the real estate industry. Effective IT tool selection and effective data flow and integration are also recommended as IT governance effectiveness parameters. Sustainable growth, asset utilization, cost-effectiveness, and business flexibility are evaluated as the positive and successful business outcomes of ITG effectiveness in the real estate industry. Conclusion- Based on the researches made in past studies, this research seems to be the first in the literature that develops an IT governance framework for real estate investment companies in emerging economies.