Sustainable property development by Southeast Asian property companies

Razali, Muhammad Najib; Yunus, Norhidayah Md; Zainudin, Ainur Zaireen; Lee, Janice Yim Mei

doi:10.1108/pm-01-2015-0004

Cited by 11 publications

(10 citation statements)

References 27 publications

(28 reference statements)

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“…Although the focus of the study is on the willingness to invest in green features, the survey was carried out in a more matured and developed market. Razali et al (2017) assessed the level of sustainability practices amongst the property companies in Southeast Asia. The study considered the websites and annual reports of the companies to assess the strategies based on related sustainability issues.…”

Section: Literature Reviewmentioning

confidence: 99%

Developers’ willingness to invest in green features in Abuja, Nigeria

Oyewole

Ojutalayo

Araloyin

2019

SASBE

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Purpose -The purpose of this paper is to investigate the degree of willingness of property developers to invest in green features in Abuja, the federal capital city of Nigeria, to determine the level of their preparedness for green building development. Design/methodology/approach -Data were elicited from the property managers of the various property development companies through self-administered questionnaire and analyzed with the use of frequency distribution, percentages and measures of developers' willingness to invest index. Findings -The study showed that the developers' level of willingness to invest in green features is above average with the value of willingness indices on most features rising above 2.5 on a five-point scale. Features that are less capital intensive such as "Location of air intake that are far from source of pollution" (RWI ¼ 4.14) and "Building design that utilize natural and cross ventilation" (RWI ¼ 4.12) attracted higher developers' level of willingness than features such as "Mechanical ventilation of enclosed parking area" (RWI ¼ 2.15) and "Design for energy efficient deconstruction and recycling" (RWI ¼ 1.84) that are more capital intensive. In addition, the index of willingness (relative willingness index of developers) on features that are associated with occupants' comfort is higher than the index of willingness on features that confer more of environmental benefits. Practical implications -The study concludes by advocating that parliamentary arms of all tiers of government should formulate environmental policies and laws that will entrench sustainable practices in the building industry in the country. Originality/value -This is one of the few studies on the willingness of major stakeholders to invest in green features, particularly in the Nigerian context.

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Section: Literature Reviewmentioning

confidence: 99%

Developers’ willingness to invest in green features in Abuja, Nigeria

Oyewole

Ojutalayo

Araloyin

2019

SASBE

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“…The level of sustainability practices among public-listed property companies in Southeast Asia was also investigated [2]. The scope is limited to only five Southeast Asian countries, which are Singapore, Malaysia, Thailand, Indonesia and the Philippines.…”

Section: The Performance Evaluation Of Sustainable Property Developmementioning

confidence: 99%

“…Previous studies highlighted a few issues related to the performance of high-rise residential buildings and their environmental enhancement practices. It has been observed that the level of environmental enhancement practices among property companies in Southeast Asian countries, including Malaysia, 2 of 14 is very low due to lack of awareness about green practices [2]. Besides, the tenants or residents of the residential favour a good performance from property management companies in term of maintenance and facilities [3].…”

Section: Introductionmentioning

confidence: 99%

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Environmental Enhancement through High-Rise Building Refurbishment

et al. 2020

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Property investment is always enticing, especially the high-rise residential property. The promise of the raising future value of it keeps investors attracted. Urbanisation also contributes to the massive development in this business, and it is hardly ignored. To run the business and to be able to compete with others, developers have to keep the cost attracted for the residents/buyers. The property needs to be well designed to satisfy the economical capital expenditure as well as low operation and maintenance cost. The high density of this development in an urban area makes developers tend to have low awareness of practising sustainability. Inconsistent evaluation, as well as unwell-defined assessment for sustainability, worsen the situation. This research aims to investigate and develop performance evaluation criteria of sustainability for high-rise residential building. Both qualitative and quantitative approaches were implemented through surveys. Three main factors, which are the promotion of a healthy environment, comfortability of residents and energy-saving, found to be the main categories of criteria to be considered. Based on validation through a case study, it is found that providing easy access to public transport is the most critical criteria for promoting a healthy environment. Besides, the usage of low Volatile Organic Compound (VOC) paint can give comfort to residents because it provides healthy indoor air quality. Lastly, the usage of LED bulbs and natural light supports energy saving. The criteria are then used to develop the decision-making model in selecting the best alternative for the building refurbishment, by using Analytical Hierarchy Process (AHP). Application of the decision model in a case study reveals that repainting the building using low VOC paint become the best fit option for enhancing the environment. Developers may implement this in their policy for the redevelopment of their building. The result is limited to the aggregation value; thus, future research is directing into coalition and negotiation among stakeholders by applying payoff optimum and agreement options and also automation in selecting the best technical solution.

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“…Content analysis is a very popular method among researchers in various fields due to the flexibility and systematised structure, being frequently applied in studying the non-financial information reported by entities (Belluci et al, 2019). In real estate research, this method was applied mostly to evaluate the sustainability levels in terms of sustainability practices amongst property companies (Laposa & Villupuram, 2010;Glass, 2012;Warren-Myers, 2012;Razali et al, 2017;Rashidfarokhi et al, 2018;Ionașcu et al, 2020).…”

Section: Picbe | 379mentioning

confidence: 99%

Improvement of the real estate transparency through digitalisation

Ionașcu¹,

Anghel

2020

Proceedings of the International Conference on Business Excellence

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Taking into account that the transparency is a quality of communication of sustainability information, as well as the role of digitalisation in ensuring the transparency, we proposed to study the perception of real estate entities related to promoting transparency in the relationship with stakeholders and the integration of information and communication technology in their business models. Applying a qualitative approach, we critically analysed the sustainability reports published by real estate companies from the EU, which represent important non-financial information sources for stakeholders. Transparency is mainly reflected in corporate governance, as real estate entities are increasingly concerned with maintaining open relationships with stakeholders and knowing their expectations to integrate them into the business strategy. We have noticed a broader approach of transparency in REIT entities and in reports that include an assurance statement. New digital technologies serve the purpose of improving transparency, which, although still poorly explored in real estate, offer new solutions to increase the efficiency and productivity of real estate activities. Property technology can improve real estate market transparency and liquidity, bringing lower transaction costs, which should positively impact the value of investment assets.

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Sustainable property development by Southeast Asian property companies

Cited by 11 publications

References 27 publications

Developers’ willingness to invest in green features in Abuja, Nigeria

Developers’ willingness to invest in green features in Abuja, Nigeria

Environmental Enhancement through High-Rise Building Refurbishment

Improvement of the real estate transparency through digitalisation

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