The practice of managing real estate as an investment asset

Abstract

Within the framework of the 10th International Science and Practical Conference “Organization of Construction and Development of Real Estate”, held in Moscow at the premises of the National Research Moscow State University of Civil Engineering (MGSU), a wide range of problems, dealing with the strategic focus of the real estate development at the present stage, was discussed. Not only did the methodological fundamentals of spatial and territorial development affect the goals and practical implementation requirements, but they also changed the management tools. New aspects of managing real estate as an investment asset emerged and started to develop in practice. The process required a number of provisions to be amended and recommendations to be made by the Conference participants. According to the conference speakers, managing real estate as an increasingly popular investment asset was among the problems that were least studied in the research literature. At the same time, the approach, proposed by the co-authors, encompasses management tools applicable to problem-plagued and normally functioning real estate, as well as complex real estate items integrated into separate elements of the urban planning structure. The management of numerous real estate facilities requires different approaches to be implemented by development companies (developers). They were studied by the co­authors who analyzed the case of Krasstroy Group of Construction Companies engaged in the construction and operation of real estate facilities. Understanding the practical experience of the company allowed the co-authors to systematize the principles of effective management, that represented a combination of advanced methods of design of universal modules of commercial premises, new functional opportunities provided by information and communication technologies, and methods of stimulating and coordinating operations performed by different stakeholders in urban districts and the city as a whole1.
 [1] This research was performed within the framework of the project “The study of the present-day structure and typology of housing and development of recommendations concerning the optimal number of apartments, taking into account demographic and social factors, as well as the entire range of needs of the population (using the case of Krasnoyarsk)” supported by the Krasnoyarsk State Autonomous Institution “Krasnoyarsk Regional Fund for Support of Scientific and Technical Activities” within the framework of the target competition of applied scientific research projects aimed at solving problems of urban development.