Real Estate Projects Research Articles

Implementation of Lean Scheduling in Real Estate Industry: A Review

It is observed that every construction project is unable to perform as per planned objectives as it faces variances in terms of cost, time, quality, safety, specifications, liable to various constraints pertaining to it. Conventional Scheduling techniques that uses push approach has to perform each activity right, the first time- every time in order to make the forthcoming activities follow the schedule. In this study we have introduced Pull Scheduling approach to overcome the delays resulting from wastes in a real estate project. Waste's typical cost as Construction businesses have started using Lean Construction to reduce waste and boost productivity. The proportion of project costs that do not include performance costs ranges from 5.38% to 14.70%. In order to implement lean concepts, which place a strong emphasis on waste minimization and efficiency improvement, building sites in India must first detect waste and its underlying causes. Lean Scheduling (LS) was employed to address efficiency and waste problems and to adapt to the challenges of the construction industry as a future project management philosophy. A comprehensive literature review is carried out to determine real time issues faced in real estate industry using a pilot questionnaire survey and overcoming those challenges using lean tools. Finally, a method for choosing the most fitting lean resources by pull scheduling was suggested. The key contribution of this study is to reinforce the decision-making capacity of the builders in their choice of the most suitable construction-coordinated method on real estate project. Keywords: Lean Construction Techniques, Pull Scheduling, Just-In-Time, Indian Real Estate Industry, Lean Thinking, Lean Concepts, Value stream mapping, Construction waste.

Grey relational analysis method for building material suppliers selection based on the 2-tuple linguistic neutrosophic number

The construction of real estate projects is a large and complex system project, and the completion of the construction goals on time and with quality is the key to the sustainable development of construction enterprises. In the process of real estate project construction, the management performance of building decoration material suppliers will directly affect the efficiency of real estate enterprises. How to correctly evaluate the building material suppliers (BMSs) of real estate enterprises and establish a good partnership affects the economic benefits of the enterprise and the possibility of subsequent cooperation between the two sides, which has become one of the issues of importance to real estate enterprises. The selection and application of BMSs is the MAGDM. In this defined paper, the defined 2-tuple linguistic neutrosophic number (2TLNN) grey relational analysis (2TLNN-GRA) decision method is generated based on GRA and 2-tuple linguistic neutrosophic sets (2TLNSs). The 2TLNN-GRA method is generated for MAGDM. Finally, the decision example for BMSs selection is generated and some comparisons is generated.

Designing a Large-Scale Immersive Visit in Architecture, Engineering, and Construction

Throughout history, tools for engineering in the building industry have evolved. Due to the arrival of Industry 4.0, Computer-Aided Design (CAD) and Building Information Modeling (BIM) software have replaced the usage of pens, pencils, and paper in the design process. This paper describes the work required to design a large-scale immersive visit of a district under construction in a suburban area of Greater Paris, France. As part of this real estate project, called LaVallée, we have access to its city information model: all the BIMs of the works to be carried out including roads, terrain, street furniture, fountains, and landscaping. This paper describes all the technical operations necessary for the design of an immersive 3D model with a high level of detail of the neighborhood with its surroundings. The objective of this technical report was to provide practitioners with feedback on such an achievement based on industrial-level data. The development of the city model begins with the registration of all the BIMs from different firms in a common Geographic Information System: this gives the opportunity to confront the operational requirement of a construction phase and the actual current practice of architecture firms. A first prototype was developed using the archviz tool TwinMotion. In order to increase the realism of the model, we describe the creation of a pipeline in Unreal Engine with the automated tasks of material and mesh replacement and the lighting and landscape configuration. The main contribution of this work is to give relevant experience on building such a large-scale model, with the Python script when possible, as well as the necessary manual steps. It is a valuable contribution to the making of large-scale immersive visits with a high level of detail and their requirements.

Industrial heritage, different social powers and public policy in East Asia: a comparison of typical cases in China and Japan

East Asian countries frequently consider how to balance diversified social power relations through policy formulation and implementation when developing public policies on industrial heritage. In terms of industrial heritage transformation and renewal, the Chinese and Japanese governments have developed two distinct models. In general, the Chinese government favors real estate projects, whereas Japan favors tourism projects. However, the examples used in this article, Hanyang Steel Factory and Tomioka Silk Mill, demonstrate a more complicated situation. First, these two cases can be viewed as two distinct cultural markets cultivated under the leadership of the government. From the perspective of policy design, although both are in line with their respective national conditions, each has its own advantages and disadvantages, requiring the continuous optimization of preservation policy. Second, the responsibilities that the government should bear in the process of transforming industrial heritage sites should have boundaries, and there should be closer cooperation between the government and the private sector. Finally, there is a similarity between the two models: worker gentrification has not been achieved through the transformation of industrial heritage, and the loss of local workers from the community will hinder the sustainability of the inheritance and dissemination of regional industrial culture.

Digital Twinning as an Approach to Promoting Real Estate Projects: Residential Unit at the Lake West, Sheikh Zayed City, Cairo, Egypt

Digital Twinning as an Approach to Promoting Real Estate Projects: Residential Unit at the Lake West, Sheikh Zayed City, Cairo, Egypt

Strategic Choice of Commercial Real Estate in China's First-Tier Cities in The Oost-Epidemic Era

In recent years, affected by the Covid-19 and the current policy regulation of China's residential real estate market, the commercial real estate market has shown repeated fluctuations. During a historical period (2005-2015), thanks to the government's vigorous development of real estate and the influx of many people into large cities, commercial real estate in first-tier cities have experienced long-term prosperity. Some leading companies have earned high profits and occupied a large market share through the cycle of "financing - investment and construction - selling or operating - refinancing...". However, this phenomenon began to change in 2015. As the country adjusted its macro policies, financing costs continue to increase, the total area of new commercial real estate projects is decreasing year by year, and the market size of traditional commercial real estate is also shrinking, making people soberly aware that the prosperity and success of commercial real estate are deeply dependent on national development strategies, while depends on social and economic development and people's consumption habits. The study's results found that since 2019, the expansion scale and profitability of China's commercial real estate have both shrunk. On the one hand, residents' consumption ability and willingness have weakened due to the impact of Covid-19 and the business cycle. On the other hand, young consumer groups are no longer satisfied with a single business model; the upgrade of the consumption content and the rise of e-commerce shopping have had an impact on traditional commercial real estate, which forces companies to make corresponding adjustments to changes in the external environment when deciding long-term strategies. Using the PEST analysis tool to create a comprehensive and objective analysis of the current political, economic, social, and technological environment will help enterprises better judge external factors. Therefore, when formulating development strategies, they can better align their development plans with the country's new development strategy, earning strategic initiative and maintaining competitive vitality in the recent historical period.

A Study of the Impact of Social Media Marketing Efforts on Brand Awareness in the Real Estate Industry in Vietnam

Vietnam's real estate market has grown enormously as the government promotes public investment. In particular, the COVID-19 pandemic has had a great impact on changing consumer habits. Customers often search for information about real estate projects and brands through social media platforms before consulting relatives or brokers. A brand with a higher level of awareness will be more valuable and trusted by many customers choosing projects. Therefore, it can be affirmed that it is necessary to determine the influence of social media marketing efforts on brand awareness. This study examined the relationship between social media marketing efforts and customer brand awareness in the real estate industry in Vietnam. This study employed a deductive methodology coupled with a quantitative approach. The data collected from six hundred real estate clients were subjected to Cronbach's Alpha reliability analysis, exploratory factor analysis, correlation analysis, multiple regression, T-Test, and ANOVA techniques to determine the existence of an indirect relationship. According to the findings of this study, social media marketing efforts include five factors: Interaction, Trendiness, Entertainment, Customization, and Electronic Word of Mouth (eWOM) positively impact real estate customers' brand awareness. While customization significantly influences the customer's brand awareness, Trendiness has little impact on consumers' brand awareness. Still, it remains a crucial factor in enhancing the efficacy of social media marketing. Thus, real estate enterprises must improve social media marketing efforts to collect information efficiently, reach target customers, and facilitate sales.

Aggregation Operators for Decision Making Based on q-Rung Orthopair Fuzzy Hypersoft Sets: An Application in Real Estate Project

In this paper, a decision-making problem with a q-rung orthopair fuzzy hypersoft environment is developed, and two operators of ordered weighted average and induced ordered weighted average are developed. Several fundamental features are also derived. The induced ordered weighted average operator is essential in a q-ROFH environment as the induced ordered aggregation operators are special cases of the existing aggregation operators that already exist in q-ROFH environments. The main function of these operators is to help decision-makers gain a complete understanding of uncertain facts. The proposed aggregation operator is applied to a decision-making problem, with the aim of selecting the most promising real estate project for investment.

Green supply chain drivers and their implementation on LEED-certified projects in India

Abstract This study aims to identify the most critical green supply chain drivers and to explore the most prevalent drivers in the real estate industry in India. Through literature review, we identified 13 green drivers in the real estate sector in India. A structured questionnaire was administered to 280 potential participants, out of whom 150 responded by filling out the questionnaire. The respondents were working in reputed real estate companies comprising owners, contractors, consultants, architects, and project management companies in Delhi National capital region (NCR). The relative relevance index was used to rank the various green drivers in the real estate industry in India. Multiple regression analysis was used to establish the degree of linear connection between the variables. T-tests examine the differences between 13 decision factors and dependent variables. The cost–benefit of green supply chain drivers in a LEED-certified real estate project in India established the efficacy of green supply chain drivers in the real estate industry in India. The study’s findings indicate that senior management, developers, and the government are the most crucial drivers for implementing the green supply chain in the real estate sector. The study’s findings further confirm that green building approaches, i.e., green procurement, green transportation, building information modelling (BIM), building energy modelling (BEM), and prefabrication procedures, are underutilised in the real estate sector in India.

Методические аспекты оценки эффективности инвестиционных проектов с государственным участием

The subject of the study is the evaluation of the effectiveness of an investment project when making a decision on investing in it. The relevance of the work lies in the fact that in the conditions of sanctions pressure on Russia, the importance of state support for the investment activity of counterparties increases significantly. However, there are difficulties with an objective assessment of the effectiveness of investment projects when deciding whether to finance them. In the Russian Federation, there is a fairly broad practice of supporting projects at various levels, which has led to the emergence of a large number of regulatory documents that are sometimes not harmonized with each other and contain incomplete criteria for their evaluation, which ultimately leads to a decrease in entrepreneurial activity. The objectives of the work are a critical analysis of regulatory and methodological documents used to evaluate investment projects with state support and to develop proposals for improving the criteria for evaluating projects taking into account industry specifics (for example, the real estate sector). The scientific novelty of the research consists in the development of a rating methodology for evaluating an investment project in real estate, which allows for a point assessment of the effectiveness of the project as a whole, taking into account the business reputation and financial condition of the initiator of the project. Approaches to the evaluation of investment projects with the participation of the state are classified. Criteria have been developed for evaluating real estate projects, which can be used as the basis of a rating methodology for evaluating the effectiveness of investment projects. It is concluded that the methodology developed by the author makes it possible to evaluate the effectiveness of the project taking into account its economic, social and environmental significance.

RESEARCH ON BUSINESS PROCESS REENGINEERING OF REAL ESTATE ENTERPRISES

With the deepening of economic globalization, the global market has gradually changed from the situation dominated by sellers to the era dominated by buyers. This change makes the competitive environment in which enterprises are in become increasingly complex and the market competition becomes increasingly fierce. Due to the change of market environment, the field of management theory is also quietly changing, such as learning organization, virtual management, flexible organization and other new management models. Learning organizations strive to adapt to the changing market environment by constantly updating and improving their own skills; With the help of information technology, virtual management transfers part of the management functions inside the enterprise to the virtual space, realizes the cross-region, cross-time and space management, and improves the management efficiency. Flexible organization emphasizes that enterprises should be as adaptive as organisms, and constantly adjust their organizational structure with changes in the external environment to better adapt to market competition. These new management models provide new ideas and methods for enterprises to win the opportunity in the fierce market competition. In the early 1990s, the business process reengineering (BPR) theory proposed by American management scientists Michael Hammer and James Champy set off a process revolution in the world. The BPR project is a large and comprehensive issue. It involves the process setting and organizational structure of the enterprise, and is also linked to human resource management, IT system application and other links. It is a systematic project. This paper analyzes the background and significance of BPR appearing in the modern economic environment. The concept of BPR is introduced, and the three key principles of BPR (target process, customer research, and technical conditions) are analyzed. By studying the development process of enterprise BPR, the article discusses the BPR scheme of real estate enterprises according to the development status of China's real estate. The article is based on the "6 stages" (strategic conception stage, project initiation stage, analysis and diagnosis stage, process optimization design stage, process organization reengineering stage, and process evaluation and improvement stage) reengineering and optimization ideas. Starting from the business characteristics of the real estate market development department, cost management department, engineering management department, technical management department, and procurement management department, provide standardized and effective real estate enterprise business process management methods and practices to promote the successful implementation and operation of real estate projects.

The settlement heritage in the development of urban real estate projects towards sustainability in Hanoi

The settlement heritage in the development of urban real estate projects towards sustainability in Hanoi

AN INVESTIGATION OF ATTRACTION FACTORS OF REAL ESTATE PROJECT BY USING COMPOSITE INDEX

This research aims to contribute in investigation of factors which attracts real estate projects. Due to rapid urbanization, it become a need to develop new housing projects and housing developments are the outcomes of economic and social activities. Main objective of this study is to identify the factors which attract real estate project. There are number of factors connectivity, land, Economy, Social, Educational, health, gender and existing facilities or existing infrastructure area attracting these growth of these projects near rural areas. To know the impacts of these attraction factors Composite Index Method is used. Results of analysis and ranking of these parameters from developers and expert professionals show that the highest impact factors of attraction of real estate projects are existing road network and connectivity, Availability of cheap land and largest chunks of land. It means presence of existing road network and availability of land both are the important factors than existing infrastructure, economy, female community, educational institutes and health facilities. While choosing the location of new housing projects these two factors should be prioritized. Keywords: Real estate, Composite index, Urbanization, Pakistan.

Infringement of Performance of an Obligation by a Third Party and Limitation on Exercising a Right

대상판결은 선분양제도가 널리 인정되는 우리나라 건설시장에서 수분양자의 권리를 보호할 수 있는 효과적인 법적 구제수단을 제시하였다는 점에서 실무상으로 큰 의의가 있다. 이론적인 측면에서도 제3자에 의한 채권침해라는 법리를 적용함에 있어서 위법성의 판단 기준을 구체화하여야 할 필요성이 있음을 시사한다. 선분양 부동산개발사업에서 자금인출에 관한 동의권을 가진 시공사가 분양계약을 적법하게 해제한 수분양자에게 지급할 시행사의 해약금 인출요청에 응하지 않은 채 분양수입금 관리계좌에서 자신의 공사대금을 변제받고자 우선적으로 금원을 인출함으로써 관리계좌의 잔고가 부족하게 되어 수분양자가 해약금을 반환받지 못하게 된 사안에서, 대법원은 시공사의 이러한 행위는 부동산 선분양 개발사업 시장에서 거래의 공정성과 건전성을 침해하고 사회통념상 요구되는 경제질서를 위반한 위법행위로서 제3자에 의한 채권침해가 성립한다고 하였다. 이와 같이 대상판결은 제3자와 채권자 사이의 공모 또는 불법적인 수단을 이용한 제3자의 채권침해 등과 같은 전형적인 사안이 아니더라도 채권의 실현을 방해하는 제3자의 행위에 위법성이 인정될 수 있음을 인정하였다. 구체적으로, 대상판결로부터 제3자가 자신의 권리를 행사 또는 불행사하여 채권을 침해하는 결과를 야기한 경우와 같이 일견 그 행위 자체에 위법성이 명백하지 않은 경우라도 (i) 제3자와 채무자 사이에 특수한 관계(자금인출 통제권자와 단순 참여자의 관계)가 존재하고 (ii) 그 권리가 제3자에게 부여된 이유나 목적을 고려하여 그 권리행사 또는 불행사의 한계를 설정할 수 있다면 그 한계를 벗어난 권리 행사 또는 불행사에 위법성이 인정될 수 있다는 제3자에 의한 채권침해의 법리를 도출할 수 있다. 일반적으로 채권에 대해서는 배타적 효력이 부인되고 채권자 상호 간 및 채권자와 제3자 사이에 자유경쟁이 허용되므로 제3자에 의하여 채권이 침해되었다는 사실만으로 바로 불법행위가 성립한다고는 할 수 없고, 불법행위로 성립하기 위해서는 위법성을 부여하는 추가적인 사정이 존재하여야 한다. 따라서 제3자에 의한 채권침해라는 특수한 불법행위 영역에서 위법성 판단을 위한 구체적인 요소들을 체계화시킬 필요가 있다. 기존의 대법원 판례와 비교법적 논의를 고려하면, 우리나라의 제3자에 의한 채권침해 사안에서 위법성 판단에 영향을 미치는 요소들로서 ① 침해되는 채권의 내용, ② 침해행위의 양태, ③ 침해자의 고의, ➃ 채권자와 침해자 사이의 관계, ⑤ 침해행위와 채권침해 사이의 밀접성, ⑥ 침해자가 얻고자 하는 이익, ⑦ 당사자 사이의 이익 균형, ➇ 경제ㆍ사회정책적 요인을 포함한 공공의 이익, ⑨ 거래 자유 보장의 필요성과 채권보호의 형량을 제시할 수 있다. 개별 사안에서 위에 제시된 요소들 중 적합한 위법성 판단 요소들을 선별하고, 선별된 요소들 사이의 상호작용, 각 요소의 중요도와 비중 등을 고려하여 유연하게 위법성 판단이 이루어져야 할 것이다.On June 30, 2021, the Korean Supreme Court rendered an important decision (Supreme Court, 2016Da10827) on economic loss incurred to a person as a result of infringement by a third party of performance of an obligation by an obligor. The underlying facts of the decision are as follows: the purchaser entered into a pre-sale agreement of a unit in a commercial building with a real estate developer as a seller. The contractor, who entered into a construction agreement with a real estate developer, has the right to consent to withdrawal of funds from the management account in relation to pre-sale real estate project but refused to consent to the request by the real estate developer for withdrawal of funds required for restitution of the purchase price to a purchaser due to duly terminated the pre-sale agreement. Then the contractor continuously withdrew the funds from the management account to reimburse his construction expense and consequently, the balance of the management account went insufficient to restitute the purchase price to the purchaser. The Korean Supreme Court held that the refusal to consent and withdrawal of funds from the management account to reimburse his construction expense by the contractor constituted an infringement by a third party of the performance of obligation owed by the developer as a seller to the purchaser since it violated the fairness and soundness of the transaction in pre-sale real estate development market and the economic system. This Supreme Court decision is meaningful in holding that the contractor is liable for the economic loss incurred to the purchaser as a result of infringement by the third party (the contractor) of the performance of an obligation by the real estate developer as an obligor.

Assessment and Control of Investment Risk in Real Estate Projects

The fast rise of China's real estate business has efficiently propelled the country's economy, and it is also profoundly entwined with the daily lives of the Chinese populace. There are more investment risks associated with real estate projects due to the size of the investment funds, the length of time required to accomplish the task, the effect of regulatory changes, the market climate, and other variables. If these risks are not appropriately managed, they will lower the investment's return. Real estate project investments should be more cautious and scientific, fully assess investment risks, and target the appropriate control measures to reduce the impact of risk factors and ensure the smooth implementation of investment activities. This is particularly crucial in light of the new normal, which involves increased uncertainty.

Exploring the Relationship between Project Planning and Timely Completion of a Project through Confirmatory Factor Analysis

Real estate market and housing projects play a vital role in the economy of Pakistan. This study has been conducted with an aim to explore the relationship between project planning factors & on-time completion of real estate projects in Pakistan. Sample data comprised of 440 observations was collected through structured questionnaire from contractors, managers, engineers and supervisors related to construction projects. Confirmatory Factor Analysis has been used along with validity and reliability tests to conclude the significant factors. Through binary logistics regression, study concluded that various internal & external factors like “contractor related causes”, “material, labor and equipment related causes” and “contract relationships related causes” have significant impact on timely completion of the project.

Proposal of a methodological sequence for the spatial-temporal analysis of real estate developments: Application in Natal/RN

This article aims to analyze the spatial distribution of real estate projects, launched during the 10 most intense years of the real estate market in the city of Natal/RN. However, the lack of data on the real estate production of several national capitals, based on the absence of clear procedures for capturing and organizing this type of information, represents a limiting factor for the development of an analysis of this nature. To circumvent this limitation, this study proposed a methodological sequence capable of capturing, systematizing and georeferencing a wide variety of data referring to real estate developments in any Brazilian city. The application of this new methodological itinerary in the capital of Rio Grande do Norte reveals an asymmetrical spatial distribution in the municipal territory, considering that 86% of real estate developments are concentrated in 4 areas, which correspond to only 19% of the territorial extension of the municipality in question. In 3 of these 4 locations there is a tangible connection between the type of real estate production and some physical and socioeconomic characteristics found in them, such as tourism, environment, urban facilities, in addition to the purchasing power of the population. Finally, the role of the State was identified as an inducer of real estate development in a peripheral region through a housing program promoted by the Federal Government.

The Art of an Ecosystem

Abstract Anyone interested in the ecosystems of the Pacific Islands knows that at the most practical level, the “actual reality of things” is not ideal. In Hawai‘i, as elsewhere in the Pacific Islands, water is a central case in point. Therefore, it is perhaps unsurprising that the upcoming centennial of the Ala Wai canal in Waikīkī, Oʻahu is taking on new significance. Built in 1921, the canal was designed not only to help control flooding, but also to drain the area that would become Waikīkī; controlling water was then a military goal, but also a real estate project. Artist, architect, and urban planner Sean Connelly is one critic of this logic, arguing for the recovery of a more traditional approach to water management—and life—as figured by the Indigenous ahupua‘a system.

Discussion on Local Asset Management Companies’ Approach to Revitalizing Uncompleted Real Estate Projects: Taking ZS Asset Management Company as an Example

In recent years, with the vigorous development of the real estate market, the price and scale of real estate have been growing explosively year by year. At the same time, the continuous macro-control of the state and the debt of real estate enterprises are both thundering. The high turnover and leverage operation mode is challenged, and uncompleted real estate projects are constantly emerging. Uncompleted residential buildings are considered scars to developers or cities where these projects are located. If this issue can be solved, uncompleted residential building projects can be revitalized, and the parties involved will also benefit from it. Asset management companies play a key role in the revitalization of uncompleted real estate projects by injecting new vitality into these projects and obtaining relevant policy support from the local government for the pain points and difficulties in these projects, thus promoting the revitalization of uncompleted projects. In order to discuss the approach taken by local asset management companies to revitalize uncompleted real estate projects, this paper takes ZS Asset Management Company as an example.

Research on Dynamic Cost Management During Construction of Real Estate Project Construction Stage

From the perspective of real estate enterprise construction units, this paper will analyze the cost management problems in the construction process, and propose corresponding measures and improvement methods. Through the analysis of the situation of the project, a dynamic cost control system that matches it is established. Through the establishment of a dynamic cost control system, the cost deviation in the construction process can be remedied in a timely manner to ensure that the actual construction cost does not deviate from the target cost. At the same time, the cost analysis of the engineering and technical solutions provided by the project should be carried out, and the basic labor, materials, machinery costs and measure costs in the construction cost should be controlled under the premise of ensuring construction quality and safety. This article focuses on achieving target costs, starting with project cost containment solutions and safeguards, respectively. The purpose of the research is to establish a dynamic cost control system that can establish real estate enterprises in the construction process, and when applied to the actual construction process, provide a relatively scientific and effective theoretical basis for real estate enterprises, so as to continuously accumulate mature cost control management experience.