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2023 | Buch

Real Estate Finance and Economics

A Guide to Securing Finance for Real Estate Project Development in Developed and Emerging Economies

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Finance is essential to the real estate project development sector's success. However, there is still an enormous gap in the real estate sector. What seems to be required is a model that could guide managers in securing real estate project development finance.

Findings have shown that no comprehensive framework is presently available. This book presents a toolkit to support real estate managers in securing real estate project development finance. The book will help managers to understand the different financing options and criteria required by financiers. The study includes case studies from developed and emerging economies, including Germany, the United Kingdom, the United States of America, China, Nigeria, and South Africa. The author concludes that the dominant challenges common to managers in both economies are access to land, collateral, and rising interest rates.

Inhaltsverzeichnis

Frontmatter
Chapter 1. The Real Estate Market in Developed Economies and Emerging Economies
Abstract
This chapter evaluates the real estate market literature on factors affecting real estate supply in cities emphasising sources of real estate finance in emerging and developed economies particularly those of Germany, the UK, the USA, China, Nigeria, and South Africa. It establishes the factors affecting the real estate sector and finance could be broadly classified into macroeconomic, social, political, technical, and legal factors.
Lucy Ogbenjuwa
Chapter 2. The Research Design and Methods
Abstract
This chapter presents the research design and reviews a range of research methodologies, including those adopted for this study. The chapter discusses procedures adopted for data collection, data analysis, reporting, and discussions of the findings.
Lucy Ogbenjuwa
Chapter 3. The Finance Options & Criteria for Securing Finance for Real Estate Project Development in Developed and Emerging Economies
Abstract
Finance is essential to the real estate project development sector’s success and an understanding of the sources and criteria for securing finance is instrumental to the ability of the manager to secure funds for project development. There is varied literature on finance sources for real estate project development. However, there is a need to know specifically the finance options available to managers in the developed and emerging economies respectively. Based on the survey results of 116 managers made up of 35 interviews and 81 responses to the questionnaire surveys from managers engaged directly in real estate financing activities, this chapter presents the findings on the finance options and criteria for securing finance for real estate project development in the developed and emerging economies. The study developed an inventory of finance options and criteria for securing finance for real estate project development in developed and emerging economies which include Germany, the UK, and the USA as the former, and China, Nigeria, and South Africa as the latter.
Lucy Ogbenjuwa
Chapter 4. Critical Success Factors, Challenges, and Opportunities for Securing Finance for Real Estate Project Development in the Developed and Emerging Economies
Abstract
This chapter examined the critical success factors, challenges, and opportunities associated with securing finance for real estate project development in the developed and emerging economies of Germany, the UK, and the USA as the former, China, Nigeria, and South Africa as the latter. Based on the survey results from managers engaged directly in real estate financing activities, this chapter developed a framework for an environmental scan for securing finance for real estate project development. The research participants were a total of 116 managers made up of 35 interviews and 81 responses to the questionnaire surveys.
Lucy Ogbenjuwa
Chapter 5. The Key Decisions and Processes for Securing Finance for Real Estate Project Development in Developed and Emerging Economies
Abstract
This chapter presents and discusses the findings on the key decisions and processes for securing finance for real estate project development in developed and emerging economies. It analyses and presents data from both the questionnaire and the semi-structured interviews. This is to fulfil a fundamental objective of this book which is “to document the processes and key decisions for securing finance for real estate project development in developed and emerging economies”. The research participants were a total of 116 managers made up of 35 interviews and 81 responses to the questionnaire surveys. The chapter also presents the development of the process map for securing finance for real estate project development based on variables from qualitative and quantitative data that was collected.
Lucy Ogbenjuwa
Chapter 6. Skills, Knowledge, and Competences for Securing Finance for Real Estate Project Development in Developed and Emerging Economies
Abstract
There is no existing literature on management skills, knowledge, and competences for securing finance for real estate project development. This chapter helps to bridge the gap in knowledge through the provision of an inventory of skills, knowledge, and competences for securing finance for real estate project development. This study adopted a pluralistic methodological approach by employing qualitative and quantitative research designs focused on a case study of three developed and emerging economies, including Germany, the UK, the USA, China, Nigeria, and South Africa. The research participants were a total of 116 managers made up of 35 interviews and 81 responses to the questionnaire surveys. The findings show that some managers do not have some salient skills, knowledge, and competences needed for securing finance for real estate project development and would want to be trained to acquire these skills, knowledge, and competences, while a few would rather pay contractors with the skills, knowledge, and competences they need but do not have. The inventory of skills, knowledge, and competences is to support real estate managers in securing finance for real estate project development and serve as a guide in training and education for both academia and the industry.
Lucy Ogbenjuwa
Chapter 7. Management Career Path, Training, and Education for Securing Finance for Real Estate Project Development in Developed and Emerging Economies
Abstract
There is no existing literature on the management career path, training, and education for securing finance for real estate project development in developed and emerging economies. This chapter helps to bridge the gap in knowledge by developing a conceptual framework for career path and a conceptual framework for training and education for securing finance for real estate project development. This study employed qualitative and quantitative research designs focused on a case study of three developed and emerging economies, respectively. Using random sampling and snowballing, an online questionnaire survey was administered to real estate project development managers in developed and emerging economies, including Germany, the UK, the USA, China, Nigeria, and South Africa. The research participants were a total of 116 managers made up of 35 interviews and 81 responses to the questionnaire surveys. The conceptual framework for a career path and training & education for securing finance for real estate project development is to support real estate managers in securing finance for real estate project development and serve as a guide in training and education for both academia and the industry.
Lucy Ogbenjuwa
Chapter 8. Development of a Toolkit for Securing Finance for Real Estate Project Development
Abstract
This chapter developed the toolkit for securing finance for real estate project development and this is the guide for securing finance for real estate project development. Findings have shown that no comprehensive framework is presently available that guides managers involved with securing finance for real estate project development.
This toolkit would enhance access to finance for real estate project development by ensuring that managers understand the different finance options and criteria required by the different financiers, the challenges, opportunities and critical success factors for securing finance for real estate project development. It would also educate managers on the key decisions and processes associated with securing finance for real estate project development. The toolkit would provide information on the skills, knowledge, comptences, career path, training and education for securing finance for real estate project development. The toolkit is to support real estate managers in securing finance for real estate project development and serve as a guide in training and education for both academia and the industry. The toolkit is made up of six components which are as follows:
1.
Inventory of finance options and criteria for securing finance for real estate project development.
 
2.
Conceptual framework for environmental scan for securing finance for real estate project development.
 
3.
Process map for securing finance for real estate project development.
 
4.
Inventory of skills, knowledge, and competences for securing finance for real estate project development.
 
5.
Conceptual framework for career path for securing finance for real estate project development.
 
6.
Conceptual framework for training and education for securing finance for real estate project development.
 
Lucy Ogbenjuwa
Backmatter
Metadaten
Titel
Real Estate Finance and Economics
verfasst von
Lucy Ogbenjuwa
Copyright-Jahr
2023
Electronic ISBN
978-3-031-21904-7
Print ISBN
978-3-031-21903-0
DOI
https://doi.org/10.1007/978-3-031-21904-7