Strategic Real Estate Development (RED): Risk Assessment, Capability, Strategy Flexibility, Competitive Strategy, and RED Performance Empirical Study of RED Firms in Indonesia

2015 ◽  
Vol 2 (02) ◽  
pp. 17-34
Author(s):  
Hast jarjo
Keyword(s):  
Risk Assessment ◽  
Real Estate ◽  
Empirical Study ◽  
Competitive Strategy ◽  
Real Estate Development

scholarly journals Enhanced Cash Flow Valuation in Real Estate Management by Integrating Innovative Materials and Risk Assessment

2020 ◽  
Vol 12 (6) ◽  
pp. 2201
Author(s):  
Patrick Bergmann ◽  
Endre Kamarás ◽  
Werner Gleißner ◽  
Edeltraud Guenther
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Real Estate ◽  
Cash Flow ◽  
Flow Model ◽  
Material Selection ◽  
Life Cycles ◽  
Real Estate Development ◽  
Project Risk ◽  
Real Estate Projects

Environmental criteria have become a critical issue for the evaluation of projects and products, particularly for businesses with extensive life cycles. Sustainability criteria and project risk management are underexplored in real estate development, and thus endanger business survival. The aim of this article is to improve the understanding of uncertainties in the real estate industry by using a stochastic risk assessment approach and to broaden the risk assessment methodology. Thus, this article investigates the importance of material selection regarding external and project risk for real estate development. Aside from conventional projects, risks are analyzed for projects with high-quality materials (HQMs) that are characterized by environmental benefits. In following a mixed method approach, we began by conducting interviews with developers about the most important risks, and later incorporating these factors into a stochastic cash-flow model. Finally, we illustrated our findings in a case study. Overall, the highest risks were shown from resource prices and changing regulations, while the rankings of the two materials differ slightly; HQMs rank higher on the created risk index than conventional materials. The cash-flow model shows that conventional materials perform slightly better than HQMs, although uncertainties within the calculations are similar. The article contributes to risk management and decision-making for real estate projects by providing insights into the discussion and analysis of the financial performance of sustainable construction material and design that might be crucial for disruptive innovations. We present a model that integrates environmental and long-term effects in the cash-flow evaluation of real estate projects, thereby increasing managerial flexibility.

scholarly journals STUDI EMPIRIS PENERAPAN MANAJEMEN NILAI PADA PENGEMBANGAN REAL ESTATE DI SURABAYA

NALARs ◽  
2017 ◽  
Vol 16 (1) ◽  
pp. 85
Author(s):  
Yeptadian Sari
Keyword(s):  
Real Estate ◽  
Empirical Study ◽  
Development Process ◽  
Descriptive Analysis ◽  
Value Management ◽  
Real Estate Development ◽  
Exploratory Research ◽  
Snowball Sampling ◽  
Purposive Sampling ◽  
Management Method

ABSTRAK. Penerapan sebuah metode dalam pengembangan real estat sangat dibutuhkan agar memastikan proyek berjalan dengan lancar. Terdapat metode yang mampu meningkatkan nilai proyek dan bahkan membuang biaya yang tidak perlu dalam proyek yang disebut dengan metode manajemen nilai atau value management (VM). Metode ini masih jarang digunakan di Indonesia namun sebagian besar pengembang real estat di Surabaya mengaplikasikannya. Penelitian ini mencari tahu tentang studi empiris dari penerapan VM pada pengembangan real estat di Surabaya, lebih spesifiknya yaitu mencari tahu tentang bagaimana VM digunakan di perusahaan pengembang real estat di Surabaya. Penelitian ini merupakan penelitian eksploratif  dengan metode penelitian analisa statistik deskriptif. Metode penentuan sampel dengan non-probabiliti sampling gabungan, yaitu dengan purposive sampling yang dilanjutkan dengan snowball sampling. Sedangkan teknik pengumpulan datanya menggunakan survei dengan alat kuesioner. Hasil dari penelitian ini diketahui bahwa 80% perusahaan pengembang real estat di Surabaya tidak memiliki pelaksana desain dan pelaksana proyek sendiri, dan mereka tidak dilibatkan dalam tujuan proyek sejak tahap preliminary, mereka baru dilibatkan sejak tahap desain konseptual. Selain itu, penelitian ini menemukan fakta bahwa 60% petinggi perusahaan pengembang real estat mengasumsikan bahwa manajemen nilai (VM) adalah rekayasa nilai (VE). Kata kunci : real estate, manajemen nilai, studi empiris. ABSTRACT. The application of a method in real estate development process is needed in order to ensure the project runs smoothly. There are methods that can indrease the value of the project and even discard the unnecessary cost of the project called value management. Many practitioners of real estate development in Surabaya claim that they always apply value management method. However, based on empirical data, it is known that not much research of value management in Surabaya. Thepurpose of this paper is to determine the empirical study of VM by the practitioners of real estate development in Surabaya. This is an exploratory research with statistic descriptive analysis that is used to achieve the research objectives. The sample taking and respondent determination are applied by a purposive sampling followed by snowball sampling. Data collection techniques use a survey by distributing the questionnaires.  Outcome of the analysis indicate that 80% of real estate development companies in Surabaya do not have executive design and project implementers. Design implementers and project officers are not involved in achieving the objectives of the project, these professionals began to be involved in the conceptual stages of design. Beside, this research finds that 60% of practitioners assume that VM is VE. Keywords : real estate, value management, empirical study.

Sign in / Sign up

Export Citation Format

Share Document