Development of Managed Real Estate – International Case Studies on Principals and Success Factors
||Development of Managed Real Estate – International Case Studies on Principals and Success Factors
||16th Annual European Real Estate Society Conference in Stockholm, Sweden
||The congress contribution focuses on the Development of Managed Real Estate. An interdisciplinary team of the chair for Real Estate Development at Vienna University of Technology (TU Wien) accomplished in 2007 and 2008 40 international case studies mainly to answer the following research questions: - Which are the main principles of development projects for Managed Real Estate?; - Which processes, organisational structures and capabilities of the acting organisations lead to successful developments?; - Which are other success factors and critical factors for the development of Managed Real Estate?; - Do the developments need certain preconditions concerning e.g. the site, the purchasing power of the citizen or do they even have the potential to revitalize unprivileged cities and quarters? // The explorative studies of cases between Berlin and Barcelona were carried out using structured narrative interviews with the main actors in the developments as a method completed by collection of data from different various sources. The about 40 case studies have shown, that development of Managed Real Estate in a tailor made form is possible even in unprivileged cities, quarters and regions and is there potentially generating positive external effects on income and employment. Knowhow and innovation power concerning the business the Real Estate is built for is crucial and rare. Successful processes in the development phase are cyclic process of optimization, followed by step by step process in the realisation phase. Architecture in some cases is essential and in other cased nearly of no importance. The engagement of the public sector helps but doesn´t necessarily produce successful projects. The cases studies finally lead to the model of “Facilities Development”, enabling a new perspective on the Development of Managed Real Estate, applicable with its principles also on the domain public Real Estate Development."
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