Value adding attributes to CREM
||Sarasoja, Anna-Liisa; Gibler, Karen; Leivainen, Kari
||Value adding attributes to CREM
||11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
||The corporationsí primary aim is to add to the wealth of investors/owners. In order to achieve this aim the corporation sets strategic goals for its business activities. This defines the demands for corporate real estate, which should be linked to the corporationsí strategic goals. The real estate strategy is enacted through asset management, property management and facilities management. Traditionally, corporate real estate measures have focused on direct costs of providing space. However, the realisation that both tangible and intangible assets are important to corporate real estate managementís successful support of the core business necessitates new techniques and tools for measuring, amongst other things, performance, productivity, usability and functionality. This paper discusses possible real estate strategies that could add value to the corporation core business, operating decisions that support the real estate strategies and broader ways to measure whether the real estate operation is adding value through making decisions in support of each strategy. The results presented in this paper are based on a wide theoretical survey and more than 30 interviews with corporate real estate organisations in the USA and Europe.
||Added Value; Core Business; Real Estate Strategy
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||Corporate Real Estate
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