Technical life cycle of real estates
||Technical life cycle of real estates
||8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
||Real estate business is developing fast. Development needs are challenging because of interdiciplinariness and diverseness of the branch. The main mission of real estate business is to provide premises for its customers. Designers are planning the buildings, contractors are building them and owners are supplying premises for users. During the use the real estate market needs different kinds of facilitating services directed to users or owner of buildings. Facilities Management services (FM) can be divided into 3 different sections: Technical FM-services, Commercial FM-services and Infrastructural FM-services. These services are either internally provided or outsourced according to organisational structure of the owner organisation. As the business of real estate sector is based on built property, the strategies for producing and maintaining buildings can not be meaningless. For achieving a satisfactory and profitable life cycle, the goals and visions should also be set for technical life cycle - already in project planning phase of the new building. The technical life cycle service concept is possible to define as a strategy for achieving the goals. Technical life cycle services are connected to technical decisions in project planning phase – decisions that have an effect on maintaining the built property to achieve predictable distribution of life cycle costs and maintain or even improve the value of investments. At the moment “technical life cycle concept” is composed of projects provided by different service providers but only rarely the totality of a building and its environment is taken into consideration at the same time. However the strategy – the life cycle concept - should be continuous, long term strategy, well documented and designed according to visions and goals of the owner organisation.
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||Urban Growth and real estate market
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