Investment In Urban Development Research Articles

Factors affecting the delay of urban development investment projects: A case of Vietnam

The project implementation schedule is an important plan for every construction project, to reduce and control project delays. The implementation of urban development investment projects is increasing in terms of both quality and quantity as urban areas are rapidly developing in cities. However, many construction projects are scheduled but they are late from due time. As the number of urban development investment projects increases, understanding the causes of project delays will help project managers and stakeholders limit these delays. This paper investigates all those factors which are causing a delay in the development of urban investment projects These factors are further developed through expert knowledge elicitation using the Delphi method. Lastly, as based on the issues identified were run to determine how they affected project delays. Finally, a survey based on the issues identified factors was conducted to assess how they affected project delays. The linear regression model is used to analyze the results from the survey. The results of the study indicate that there are six main factors that cause the delay in the implementation of urban development investment projects in Vietnam, including Policy, Design, Cooperation, Implementation, Financing and Objective factors. The study's findings indicate that there are six primary groups of elements, including Policy, Design, Collaboration, Implementation, Finance, and Objective factors, that contribute to the delay in the execution of urban development investment projects in Vietnam. The study offers a research model for the factors that contribute to delays in the execution of construction projects for urban development. This finding can serve as a foundation for ideas on how to deal with this issue in Vietnam as well as a guide for similar works.

Urban Land and Development Management in a Challenged Developing World: An Overview of New Reflections

The urban development and management challenges of the developing world are well documented in the literature. However, the global built environment landscape is undergoing rapid changes. These changes are steeped in three fundamental imperatives, which have serious implications for the developing world. These imperatives are population growth and rising urbanisation; environmental challenges, particularly climate change and the quest to embrace sustainability as a panacea; and advances in technological development. This paper discusses these three imperatives with the view to teasing out their implications for urban development and management in the developing world. Consistent with the literature, the paper establishes that most of the population growth and rising urbanisation are occurring in the developing world, particularly Africa and Asia, and although these phenomena have the tendency to increase economic density and promote both private and public investment in urban development, especially construction/housing and related infrastructure activities, there are and will be several problems with them. These include land tenure insecurity, lack of access to decent affordable housing and the threat of destruction to heritage sites. Furthermore, environmental challenges such as poor waste management, and climate change are and will remain pressing issues requiring the adoption of sustainability credentials because of legislative requirements, moral suasion, and value addition. Despite the potential disruptive nature of technology with respect to some aspects of the built environment, it is recognised that advances in technology are essential to the achievement of optimal urban development and management outcomes in the developing world. The paper, therefore, recommends better understanding of the socio-economic, cultural, and political forces underlying urban growth in the developing world, factoring in technology and sustainability in urban development and management, and collaboration among relevant actors, particularly government and the private sector, for optimal outcomes.

Investment as an Approach for Urban Sustainability of Intermediate Cities in Egypt . (DEPT.A)

The urban development plans and programs to provide public services and utilities and plans of industrial and economic development will be useless accompanied by a sufficient volume of investments needed to accomplish these plans and turn them into reality. Resulting in achieving of urban sustainability to those cities rather than the lack of strategy to invest in urban prevents sustainability and because there are shortcomings in the planning of these cities that have established by political decisions and is only to provide a pattern of what is missing in the major cities to be compensated in those cities and therefore be at the expense provide opportunities and services to be whose cities which led to not be relied upon as a city integrated provides all the requirements of life needed by the citizens of residence and work, education and so on. To achieve these it ranging search through a methodology based on the study of urbanization sustainability, strategies and objectives with recognition of the principles of sustainable urban design in different urban sectors, as well as the study of intermediate cities and its sustainable development, as well as how to use the investment as a tool for sustainable urbanization and the various forms of investment in urban development and its role in its different sectors with examples so, down to the analysis of an example of intermediate city to illustrate the idea of the research, which concluded to a set of results and recommendations.

Rising private city operators in contemporary China: A study of the CFLD model

In the past decade, with the rise of private investment in urban development in China, there has been a profound transformation from government-led to market-led urban growth. These changes have created a boom in private city operators who have become involved in large-scale urban development and established long-term close public-private partnerships with local governments, integrating and optimizing all of the resources in a city or region. In this new business environment, China Fortune Land Development Co., Ltd. (CFLD) has undoubtedly been the earliest and most successful private city operator. This study uses the framework of transaction costs to analyze the CFLD model in detail, using the case of Gu'An New Industry City. We illustrate how it has reduced the principal-principal problem, the firm hold-up problem, and the government-led hold-up problem, the three types of transaction costs inherent in public-private partnerships, by improving the contractual structure. We believe it will become a far-reaching institutional innovation as an alternative to the land finance system to promote urbanization in contemporary China and beyond.

The Neoliberalization of Municipal Land Policy in Sweden

AbstractIn Sweden, local governments’ practice of the ‘municipal land instrument’—that is, the use of public land ownership as a tool for facilitating urban development—has a long tradition. In the post‐war era, public land ownership constituted an important component of state‐led housing production, which had both a productive and a redistributive purpose. Departing from a political economy perspective, this article demonstrates how the redistributive aspect of the municipal land instrument has been dissolved under neoliberalization, and discusses why the use of this instrument is problematic from both a democratic and ethical point of view. Based on a case study in Helsingborg, the article argues that, in using public land to leverage private investment in urban development, local decision makers adopt an interest in supporting rent extraction from tenants and housing owners, while subsidizing investment costs for developers. The dual role that municipalities assume as landowner‐developers and planning authorities enable them to facilitate urban development effectively, but it is also problematic because it transgresses the public–private law divide inherent to Swedish law. Assuming this dual role, municipalities place themselves in a biased position that risks undermining the legitimacy of governmental actions in general, and the planning system in particular.

DEVELOPMENT OF LIEPAJA RESIDENTIAL AREA “GREEN GROVE” PLANNING AND SPATIAL STRUCTURES AFTER WORLD WAR II

In Liepaja 1960 building of residential buildings started, but in 1967 the Master Plan was confirmed: eastwards of industrial zone the residential area “Green Grove” (Latvian: Zaļā Birze) was envisaged, where architect Irēna Rubauska developed a three-stage detailed planning (1973) of five housing estates with multi-storey residential buildings. After Latvia Republic restoration a controversial period of ownership started: without analysis transformations were implemented in urban environment, promoting fragmentation of planning. Research issue – Soviet time heritage in Liepaja has not been studied sufficiently. Architectonically spatial of the residential area “Green Grove” composition has not been implemented, and housing estate’s further development is not resolved nowadays. Research novelty – urban planner Rubauska’s creative investment in urban development has been acknowledged. Research goal – the residential area “Green Grove” spatial structural analysis. Principal methods applied-planning and construction observation in nature, analysis of archive and cartographic materials, comparative method for conclusions. Summary of research outcomes: Rubauska’s intention of the residential area “Green Grove” without implementation, architectonically spatial composition is not solved any longer; nowadays topographical survey is not applied for Liepaja’s territorial zoning, watercourses are not marked, therefore schematic areas and approximate shapes of fortress canal do not provide impression of qualitative architectonically spatial formation.

DEVELOPMENT OF LIEPAJA RESIDENTIAL AREA “GREEN GROVE” PLANNING AND SPATIAL STRUCTURES AFTER WORLD WAR II

In Liepaja 1960 building of residential buildings started, but in 1967 the Master Plan was confirmed: eastwards of industrial zone the residential area “Green Grove” (Latvian: Zaļā Birze) was envisaged, where architect Irēna Rubauska developed a three-stage detailed planning (1973) of five housing estates with multi-storey residential buildings. After Latvia Republic restoration a controversial period of ownership started: without analysis transformations were implemented in urban environment, promoting fragmentation of planning. Research issue – Soviet time heritage in Liepaja has not been studied sufficiently. Architectonically spatial of the residential area “Green Grove” composition has not been implemented, and housing estate’s further development is not resolved nowadays. Research novelty – urban planner Rubauska’s creative investment in urban development has been acknowledged. Research goal – the residential area “Green Grove” spatial structural analysis. Principal methods applied-planning and construction observation in nature, analysis of archive and cartographic materials, comparative method for conclusions. Summary of research outcomes: Rubauska’s intention of the residential area “Green Grove” without implementation, architectonically spatial composition is not solved any longer; nowadays topographical survey is not applied for Liepaja’s territorial zoning, watercourses are not marked, therefore schematic areas and approximate shapes of fortress canal do not provide impression of qualitative architectonically spatial formation.

Enhancing Urban Development Quality Based on the Results of Appraising Efficient Performance of Investors—A Case Study in Vietnam

Economic development and the overpopulation in Vietnam have led to rapid urbanization, which has posed countless difficulties and challenges to its government. In particular, creating adequate accommodation, life activities, and entertainment are extremely urgent issues. The planning and investment in industry zones, urban areas, residential districts, and amusement parks at the right time and right place contribute to social stability and economic development, and are important issues for every government—especially in Vietnam which remains a developing country with regard to rapid industrialization and modernization speed. The population density in many localities is too dense, while in others it is too thin, resulting in a state where inhabitants have no shelter, whereas many of the buildings have been abandoned. To deal with these matters, the authors used this study to assess the investment effectiveness of leading corporations in the field of investment in urban development and infrastructure investment in Vietnam. The study focused on addressing the following issues: assessing the effectiveness of corporations in urban development and infrastructure investment in Vietnam and predicting the business state of the groups. Through business data of corporations from 2013–2016, the authors used a Grey system theory to forecast business situations for the period from 2017–2020. The authors also used data envelopment analysis (DEA) to evaluate the effectiveness of investments of the group from 2013–2020. The results will help corporations in creating suitable investment and business strategies with the changes of the domestic and world economy, and can be considered as a foundation for management units, for local government to create planning projects with feasible content, for long-term vision, and practical efficiency to quickly meet the needs of urban development plans.

Will Political Connections Be Accounted for in the Interest Rates of Chinese Urban Development Investment Bonds?

ABSTRACTA special political connection, i.e., the implicit guarantee of the government on the debts of borrowers, is considered in this article to explore the mechanism through which the implicit guarantee of government will affect the interest rate of bonds issued by borrowers. Theoretical analysis shows that if the implicit guarantee from the government is less convincing, only investment income will play an important role in the determination of interest rate while explicit credence will not affect interest rate. If the implicit guarantee is persuasive, both explicit credence and investment income will affect the interest rate of bonds. Empirical analysis of Chinese urban investment bonds and U.S. municipal bonds during 2006–11 supports our theoretical predictions.

A Study of China’s Local Government Debt with Regional and Provincial Characteristics

China’s Local Government Debt (LGD) grew rapidly after 2009. By using the National Audit Reports and self-collected data from provincial governments, we provide a decomposition of China’s LGD to the regional and provincial levels. We document regional characteristics regarding various aspects of LGD. When exploring provincial characteristics of LGD, we relate the causes of LGD to the mismatch of revenues and responsibilities in local government. By analyzing the structure of Local Government Fiscal Resources (LGFRs), we point out that LGD poses an essential challenge to China’s economic health due to the lack of fiscal transparency. We concisely analyze the expansion of Local Government Funding Platforms (LGFPs) and the issuance of Urban Development Investment Bonds (UDIBs). Finally, we propose several directions for a better management of LGD in both the short and long run, emphasizing adjustments of LGD term structures, improvement of financing channels, and reforms of fiscal systems to bring in more transparency and accountability. We suggest that the policies designed to resolve the LGD problem need to take into consideration the varying characteristics of LGD of different regions and provinces.

Vulnerability and adaptive capacity in Hammerfest, Norway

This article focuses on vulnerability assessment and climate change adaptation strategies in the city of Hammerfest (Northern Norway). The analysis is based on the CoastAdapt framework and will be looking at both current and future climate. Vulnerability is split into “natural vulnerability”, “socio-economic vulnerability” and “institutional vulnerability”. Historically, Hammerfest has been vulnerable to avalanches and landslides, and has over time built up considerable climate adaptive experience. Hammerfest is now undergoing deep transformation. The petroleum industry descended on Hammerfest in 2002; ten years later it provides employment for more than 1 000 people in a town with a total population of approximately 10 000. Over this period, new property taxes and other sources of income have made Hammerfest an affluent community. The result is considerable investment in urban development and new infrastructure (schools, a culture center, new sewers and a streets renovation scheme, etc.). In terms of climate adaptation the impact of the oil industry may be seen as a double edge sword. On the one hand, greenhouse gas emissions have rocketed. One the other hand, the economic development has boosted the municipality's revenue and population, thus enabling Hammerfest to consider, and spends money on, local climate adaptive projects that are far beyond the realm of possibility for neighbouring municipalities. The article will look at the instruments employed by Hammerfest in this process.

Shaping climate policy in the housing sector in northern Chinese cities

What are relevant urban development investment strategies for improving building energy efficiency (BEE) and decarbonizing the urban district heating supply in rapidly urbanizing China? Different trajectories of BEE and energy supply technologies are compared in the urban context in a northern Chinese city. Vigorous improvement of BEE will significantly enhance the prospective financial capacity to facilitate deployment of backstop technologies (e.g. carbon capture and storage) in order to decarbonize the energy supply and achieve the long-term targets of low-carbon buildings. Carbon finance instruments should be used to facilitate public policy to accompany the necessary transition in the urban development process. The government-run efficiency procurement scheme will overcome the problem of insufficient incentive and high transaction costs associated with individual Clean Development Mechanism projects. Appropriate investment strategies (allocation of financial resources over the time frame) will allow local governments to harness the large potentials of carbon emissions mitigation while minimizing the risk of long-term technical lock-in in the built environment in Chinese cities.

Indian Bus Rapid Transit Systems Funded by the Jawaharlal Nehru National Urban Renewal Mission

This paper reviews the planning, implementation, and initial operation of bus rapid transit systems (BRTSs) in India. The initial four cities that received funds under the Jawaharlal Nehru National Urban Renewal Mission (JnNURM) are reviewed: Ahmedabad, Indore, Jaipur, and Pune. JnNURM is a Government of India (GOI) program to support state and local investment in urban development. GOI also adopted a National Urban Transport Policy (NUTP). Indian states and municipalities are required to follow NUTP rules and regulations, including clear incentives for the implementation of public transport systems and nonmotorized infrastructure projects, as opposed to general road construction or expansion projects. This paper describes relevant characteristics of the BRTSs being implemented in each city and provides comments on planning, design, and institutional arrangements. The projects are an important departure from traditional urban transport practices in Indian cities: they prioritize the use of public transport and nonmotorized modes. Nevertheless, this preliminary survey suggests that in most cases a strong focus remains on infrastructure, while other elements of BRTSs receive less attention. As a result, the full potential of BRTSs is not necessarily attained. Regarding planning activities, it is noted that demand estimation and operations design could have been more elaborate. This paper provides general recommendations for planners, decision makers, and funding agencies in an effort to improve the state of the practice in India and other developing countries.

An analysis of utility tunnel viability in urban areas

Urban utilities are overcrowding underground space. Therefore, future sustainable underground strategies will consist of the ability to reduce the use of traditional trenching. During the last century, there was an increasing interest in utility tunnels for urban areas as a problem-solving technique to avoid congestion of the street subsurface. Utility tunnels or utilidors are joint-use underground facilities that may contain multiple utilities such as water, sewerage, gas, electrical power, telephone, and central heating in various combinations or in some cases all together. The key advantage of utilidors is the substantially lower environmental impact when compared with trenching alternatives. Their construction presents no new problems of an engineering nature. However, implementing these subsurface tunnels is retarded most by first-cost, compatibility, and liability problems. These underground facilities are highly complex and difficult to manage because of synergistic effects. Utility tunnels, as a major capital investment in urban development, should be considered in the broad context of the urban planning strategy. This research work has focused on utility tunnel feasibility and its practical application in urban areas.

The Cultural Role of Capital Cities: Hanoi and Hue, Vietnam

Hanoi promotes itself both as a place for foreign investment in urban development and as the 'cradle of Vietnamese civilisation'. Special status is given to places of national heritage significance, and policy makers and planners face challenges of balancing heritage conservation and modern development. By contrast, the former capital, Hue, continues to decline economically relative to other Vietnamese cities and is discovering value in its imperial heritage as a 'vector for development'. These Vietnamese capital cities demonstrate that heritage conservation is a key consideration in government efforts to improve the position of their constituencies in the newly-shaping global and national economic systems.

Linking human settlements to economic growth: strategy for urban development in less developed countries

The United Nations Conference on the Human Environment held in Stockholm in 1972 included the urban environment as a critical problem for less developed countries. The deplorable housing conditions, lack of sanitary facilities and other essential infrastructure were considered as great a threat to the ecology as the industrial excesses and imbalances of developed countries. The continued, rapid growth of metropolitan areas has exacerbated these conditions to an urban crisis—a crisis that has a very destructive potential unless the developed countries redress the situation with a rational policy and strategy of investment in urban development. This problem of strategy is discussed in this paper.