Estate Infrastructure Research Articles

Does facility-maintenance service quality drive tenants’ willingness to pay higher rent? Evidence from Indian residential real estate infrastructure

PurposeThis paper aims to empirically investigate the effect of facility–maintenance service quality on tenants’ satisfaction and their subsequent willingness to pay higher rent in the National Capital Region (NCR), India.Design/methodology/approachThe data for this study was collected from 1,692 tenants in NCR, India. SmartPLS4.0 was used to analyze the data using structured equation modeling.FindingsThe study findings indicate that all parameters of facility–maintenance service quality (tangibles, service personnel quality and empathy) positively impact tenants’ satisfaction. Further, satisfied tenants are willing to pay higher rentals. In addition, customer satisfaction partially mediates the relationship between facility–maintenance service quality and willingness to pay higher rent.Research limitations/implicationsThe study extends evidence-based research in the service industry to provide empirical evidence that facility–maintenance service quality positively impacts customer satisfaction in real estate settings in emerging markets (India). This research will guide future researchers to explore other dimensions to support evidence-based research in real estate settings.Practical implicationsBased on the data collected online after personal interaction in residents’ meetings, the study findings provide significant insights for stakeholders such as policymakers, practitioners, landlords, associations and builders. With rising housing demand because of rural migrations toward urban or metro locations coupled with the government’s inability to expand the infrastructure simultaneously, the government has enhanced the role of public–private partnership (PPP) in housing development. The findings will help policymakers incorporate the service angle into key performance indicators in PPP contracts. Additionally, with rising competition in the housing sector, understanding these factors will help landlords and resident associations improve service quality standards, thus enhancing the residential societies’ word-of-mouth publicity and attracting high-paying residents.Originality/valueTo the best of author’s knowledge, this is a pioneer study to empirically investigate the impact of facility–maintenance service quality standards on tenants’ satisfaction and willingness to pay higher rent in a residential setting in India.

Comprehensive Analysis of Housing Estate Infrastructure in Relation to the Passability of Firefighting Equipment

The article focuses on the assessment and evaluation of the passability in densely populated parts of cities with multi-storey housing estates, in terms of the operation of the integrated rescue system (IRS) in the Czech Republic. The aim of the research is to minimize the arrival times to conduct the intervention as efficiently as possible. The presented problem is caused by unsystematic development of housing estates and the emergence of secondary problems in the form of inability to reach the place of intervention by the larger IRS vehicles. The vision presented in this document presents a systematic approach to improve the serviceability of individual blocks of flats. The main aim is to ensure passability, even for the largest equipment, such as fire engine ladders. Detailed mapping of the selected sites by drones, construction of their digital model, and subsequent virtual verification of the passability by specific vehicle models on identified access roads was performed. The results obtained by this procedure can then be implemented in the navigation of the fire safety forces and facilitate their arrival at the site of intervention. At the end, specific ways are presented in which the whole system can be modified to be able to intuitively change and choose individual access routes in real time, based on the current situation in the area.

Real estate investors’ behaviour

PurposeThis paper aims to investigate perceptions of United Arab Emirates (UAE) real estate investors’ behaviour and the factors that most influence their investment decisions.Design/methodology/approachThis study used a modified questionnaire that was divided into two parts. The first part covered demographic and socioeconomic variables. The second part identified 36 factors that affect the perceptions of real estate investors in the UAE regarding their investment decisions. These factors were placed in eight different categories that correspond to non-personal factors such as, profit, market conditions, risk, transparency, credit facilities (loans), infrastructure and services.FindingsThe findings confirm that there is a significant and positive relationship between three factors; namely, profitability, risk and service quality regarding investments in the real estate sector. The findings also confirm a positive but statistically insignificant relationship between transparency, market conditions, credit facilities, infrastructure and investment in the UAE’s real estate sector.Research limitations/implicationsThe sample size represents one of the limitations of this study. In addition, the gender of the sample is another limitation as, in general, men are more involved in investment than women are. Furthermore, there are no previous studies regarding the behaviour of UAE real estate investors; thus, the findings of this study cannot be directly compared with other empirical studies.Practical implicationsIt might be helpful to create separate units under the name “Real Estate Information Unit” in every municipality of each of the seven emirates. In addition, it is recommended that decision makers should consider ensuring that modern high-quality real estate infrastructure is available to attract more investors. Finally, minimizing any restrictions on access financing facilities may encourage investors to invest more in the UAE real estate sector.Originality/valueThis study is the first of its kind to be conducted in the context of the behaviour of UAE real estate investors.

Public Infrastructure and Sustainable Urban Mass Housing in Nigeria

This study discusses public infrastructure in urban mass housing in Nigeria, and how it can impact Sustainable Development. The study was conducted in Owerri, Imo State, Southeast Nigeria. Four purposively selected mass housing neighbourhoods for middle income residents within Owerri metropolis were appraised for neighbourhood infrastructure namely; network and quality of access roads and drainages, availability of public services, availability of communal activity areas, and safety and security measures in place in the neighbourhoods. Case study method was used for the study. Data collection was through pictorial documentation and on-site physical appraisal. The findings of the study show that estate infrastructure where available, were inadequate, thereby detracting from the achievement of environmentally and socially sustainable neighbourhoods for the residents. The study further revealed a clear absence of an integrated housing infrastructure policy which addresses quality of housing infrastructure and its implications for social sustainability. It is therefore recommended that housing estate development in Nigeria must integrate from the beginning, basic facilities and services that will complement the individual housing units, create a sense of community, and ensure proper management and maintenance of the estates. These are considered critical to the attainment of Sustainable Cities and Communities (SDG goal 11).

Harnessing Technologies for Mitigating the Water Woes in the City of Bengaluru

Industrialization has caused most of the world's environmental problems like climate change, water security issues, biodiversity issues among others. Water-related issues like water scarcity, lack of water quality, water sanitation issues, lack of proper water resources management are some of them. Urbanization, population increase, pollution has led to an increase in water demand. Water being the elixir of life, is essential for the day-to-day living of an individual. The Fourth Industrial Revolution technologies like AI, IoT, Blockchain, Machine Learning have the capability of bringing solutions to these issues. The current study focuses on the water woes of Bengaluru, a fast-growing urban city, due to its migrating population. The woes are also due to the irresponsible behaviour of builders converting lakes into real estate infrastructure leading to clogged drains, excess sewage creation and flooding. A huge mismatch between demand and supply of water is created due to these issues. Before the city hits the Day Zero – no water day, it is significant to set up water infrastructure along with technology implementation which will help resolve this burning issue at the earliest.

Harnessing technology for mitigating water woes in the city of Bengaluru

Industrialization has caused most of the world’s environmental problems like climate change, water security issues, biodiversity issues among others. Water-related issues like water scarcity, lack of water quality, water sanitation issues, lack of proper water resources management are some of them. Urbanization, population increase, pollution has led to an increase in water demand. Water being the elixir of life, is essential for the day-to-day living of an individual. The Fourth Industrial Revolution technologies like AI, IoT, Blockchain, Machine Learning have the capability of bringing solutions to these issues. The current study focuses on the water woes of Bengaluru, a fast-growing urban city, due to its migrating population. The woes are also due to the irresponsible behaviour of builders converting lakes into real estate infrastructure leading to clogged drains, excess sewage creation and flooding. A huge mismatch between demand and supply of water is created due to these issues. Before the city hits the Day Zero – no water day, it is significant to set up water infrastructure along with technology implementation which will help resolve this burning issue at the earliest.

Improving Living Conditions in Mass Housing of the Prefabrication Era: The User’s Point of View

Maintenance of the housing stock of the mass prefabrication era poses a particular challenge due to the scale of the task. Prefabricated blocks of flats are the home of almost 50% of inhabitants of Polish cities - a home that is still in good technical condition and still desirable (good location, shortage of flats in the market). However, in the light of the present-day performance requirements, this housing stock calls for improvements, necessary to prevent loss of value and increase in maintenance cost. In the course of programming the estate modernization, the planner needs not only to select technically and economically justified measures, but also to assure they are approved by the owners of the apartments. The residents are rarely aware of what is technically possible in terms of retrofitting buildings and the estate infrastructure. Moreover, they may be unaware of what kind of long-term consequences are to be expected if improvements are implemented, and what if they are not. As observed in practice, a constructive dialogue between the housing estate management and the residents occurs rarely. Therefore, in order to examine the user’s point of view, the author designed and implemented an extensive survey project. The surveys are intended to be conducted every five years in consultation with the estate manager. They allow not only to passively observe the evolution of user preferences towards particular improvement proposals (changes in preferences caused by changing needs as well as a result of implemented modernization and renovation activities), but also to stimulate interest in upgrading the housing environment (e.g. improving accessibility, switching to renewable energy sources). The article presents the results and conclusions of two cycles of surveys in one of housing estates in Lublin, south-eastern Poland. Such results may provide the estate manager with useful input for retrofitting projects.

Imbalance in local revenues from property taxes in Poland versus local infrastructure expenditures

The imbalance in the public finance sphere is equated with the budget deficit, when the inflows to the local budgets do not cover the expenses. In the article, the imbalance is understood in two ways: as the deficit of property tax revenues, in relation to the public expenditures for purposes directly related to the infrastructure that increase the value of a property or change its purpose; and as a spatial imbalance in the amount of revenues in the individual territorial self-government units. The second approach will examine the disproportion of tax and per capita spending broken down into urban, rural and urban-rural communes, as well as the search for the causes of disproportions in the level of tax revenues. The aim of the study is to indicate a permanent budget deficit within the meaning of earmarked expenditure (income from property tax - expenses on real estate infrastructure) in the surveyed units, and a strong differentiation of this deficit in the three groups of local government units examined. The study will use the data from public statistics and methods of multidimensional analysis. The obtained results may be another argument in favor of introducing ad valore tax in Poland, as well as implementing the concept of activity-based budgets, and prescribing generic inflows to expenditures on related purposes.

К ВОПРОСУ ТЕХНИЧЕСКОГО И КАДАСТРОВОГО УЧЕТА ОБЪЕКТОВ «ЗЕЛЕНОЙ ИНФРАСТРУКТУРЫ»

The article identifies the problems associated with the legal regulation of technical and cadastral accounting of real estate infrastructure based on the analysis of economic activity. The objects of "green infrastructure" and their information support in urban management systems are considered. It is noted that in the process of operation of the "green infrastructure" of great importance is their timely technical accounting and inventory, which, along with the assessment and monitoring, constitute a system of management activities. It is established that technically competent and methodically prepared approach to technical accounting of non-residential facilities, including infrastructure facilities, is their digital certification, conducted on the basis of technical inventory. The studies correspond to the development of urban agglomerations, developed by the standard "Smart Сity".

Real estate infrastructure financing in Ghana: Sources and constraints

Finance represents a major barrier to real estate development in Ghana and constraints responsible remain unknown. In order to gain insight into this important social/economic issue, a positivist tradition of thinking via the survey approach sought to uncover, explain and rank these constraints using the Relative Importance Index. A total of 53 questionnaires were distributed to real estate developers within the Kumasi Metropolis of Ghana. The survey reveals that real estate developers predominantly use debt financing including short-term bank loans, mortgages and hire purchase. Finance is constrained by five main factors: i) legislation; ii) macroeconomic barriers; iii) collateral barriers; iv) inadequate risk assessment and diversification mechanisms; and v) a dearth of financial mobilization mechanisms. This paper provides a practical reference for the targeting of policy interventions to overcome these constraints and to catalyse the development of finance for real estate infrastructure delivery. The work is also useful to the Government, banks and capital market regulators who seek to develop the capital market to provide appropriate financing options. These options may include real estate investment trusts (REITs) and risk reduction/diversification platform via derivatives. Future research is proposed which seeks to explore practical innovations in designing tailor-made real estate financing options that meet the needs of real estate developers.

Costanera Sur: Gateway To The Osa – A ScenicConservation And Development Corridor InCosta Rica

The concept of scenic landscape protection represents a relatively new approach to conservation and economic development in developing countries. An interdisciplinary and interinstitutional team of professionals in landscape architecture, architecture and environmental law from the University of Florida, University of Costa Rica and the Universidad de Diseno examined the feasibility of a scenic corridor along the economically depressed but ecologically rich southern Pacific Coast of Costa Rica. The Costanera Sur is a 50 kilometer paved highway that offers stunning ocean and mountain views as well as access to Costa Rica’s remote Osa peninsula, the largest remaining tropical wilderness on the Pacific Coast of Central America. The effort gained a sense of urgency due to increasing development pressure and the imminent rerouting of the Pan-American Highway, the major transportation corridor linking North and South America. In addition, access to the beaches for ordinary Costa Ricans has become an increasing concern as foreign investment in exclusive tourism and real estate infrastructure threatens to close off traditional swimming, surfing, picnic and camping areas. The primary goal of the study was to develop a replicable model for neotropical conservation and development that uses an existing road corridor as the organizing principle for the protection of ecological, cultural, recreational and scenic resources in a developing country where tourism represents the largest source of foreign exchange.

Integrated Resources Management Structure for Facilities Provision and Management

The primary focus of this paper is the physical resource base that supports any business: corporate operational real estate assets. In order to achieve the much-needed alignment between business strategic direction and its real estate infrastructure, the organization’s strategic intent must clearly reflect its facilities requirements in its strategic business plans. The significance of the strategic role of real estate assets to corporate performance can be seen in a recent influential research report by The Industrial Development Research Foundation in which corporate real estate assets are termed \Ithe fifth resource\N, after the traditional resources of people, technology, information, and capital. Based on a comprehensive survey of published literature and a series of in-depth interviews of corporate real estate/facilities managers, an integrating resource management framework was developed to model the nature of interactions between strategic business planning and operational asset management in an organizational setting. The proposed framework is grounded on an understanding of the nature and demands of core business requirements from which the requirements for real estate and facility services provisions are derived. The study supports the view that research efforts aimed at improving management effectiveness of the operational real estate asset base should be channeled to provide models or frameworks that promote understanding of all parties involved in the process.

The Behaviour of Agency Costs Relevant to Visitation at National Parks of South-Western Queensland

The spectrum of the management agency's costs pertaining to the management of seven national parks located within the Department of Environment and Heritage's administrative division of South-western Queensland is examined to isolate the costs which accrue to visitation. Labour is the most significant cost; to quantify this cost, the tasks performed by rangers during their work year are analysed and allocated to the three major functions performed in parks - management of the estate infrastructure, conservation of natural resources and provision of opportunities for recreation. Total visitation or recreation costs are then computed and cost equations calculated. Comparisons are made between these empirical findings and economic theory, and policy implications are briefly examined.