• Title/Summary/Keyword: Real estate development project

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ICT-SUPPORTED COLLABORATIVE WORKING IN CONSTRUCTION

  • Geoffrey Qiping Shen
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.60-70
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    • 2009
  • This paper explores the ways in which collaborative working among multiple disciplines in building projects can be more effective and efficient. It focuses on the support that can be provided by the latest development in information and communication technologies. It also considers the growing interdependence between participants in the process and their changing roles as they harness the power of the new technologies in new collaborative arrangements. It is argued that collaborative working should be addressed holistically from the technological angle, the social angle, as well as the organisational angle, to ensure its successful implementation in the construction industry. A case study is given to illustrate the use of ICT in supporting value management studies. The key issues surrounding the emerging field of research - collaborative construction information management - and the potential benefits and challenges of its wide adoption are discussed at depth.

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RELATIONAL CONTRACTING: THE WAY FORWARD OR JUST A BRAND NAME?

  • Fiona Y.K. Cheung;Steve Rowlinson
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.1013-1016
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    • 2005
  • Accounts of the development of a successful construction project often stress the importance of team relationship, project environment and senior management commitment. Numbers of studies carried out in the past decades indicate there needs to be a change of culture and attitude in the construction industry. In order for a turn around in the industry, relational contracting approaches have become more popular in recent years. However, not all relational contracting projects were successful. This paper details the fundamental principles of relational contracting. It further reports findings of a research currently taking place in Australia, how effective is relational contracting in practice. The problem addressed in this research is the implementation of relational contracting: • Throughout a range of projects • With a focus on client body staff The context within which the research was undertaken is: • Empowerment, regional development and promotion of a sustainable industry • The participating organisations have experience of partnering and alliancing • Success has been proven on large projects but performance is variable • Need has been identified to examine skill sets needed for successful partnering/alliancing The practical rationale behind this research is that: • Partnering and alliancing require a change of mind set - a culture change • The Client side must change along with contracting side • A fit is required between organisation structure and organisation culture Research Rationale: The rationale behind this project has been to conduct research within participating organisations, analyse, rationalise and generalise results and then move on to produce generic deliverables and "participating organisation specific" deliverables. This paper sets out the work so far, the links between the various elements and a plan for turning the research output into industry deliverables.

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FUTURE STRATEGY FOR KOREAN FIRMS INVOLVED IN OVERSEAS MARKETS

  • Rak-Keun Jeon;Jin-Woo Park;Jun-Youl Choi;Jae-Jun Kim
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.389-396
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    • 2005
  • Despite very good reputation that Korean construction industrial firms had enjoyed until early 1990's in overseas markets, their participation abroad drastically declined after the delivery of two(2) million unit-housing project in the early 1990's and the foreign currency crisis that took place in the late 1990's. The revival of booming construction industry in domestic market is far beyond the expectation due to the long recession of the construction economy and government's severe restriction against real estate development. Under such crucial circumstances, the construction industrial firms' strategy to survive is the more active business promotion in overseas markets. However, the Korean construction industrial firms have to abandon the labor intensive strategy, through that they have enjoyed until the early 1990's, and turn to management oriented strategy which may be a new prosperous horizon and a new challenge as well, because the labor cost of newly developing countries is much more competitive. The aim of this study is to suggest how to cope with current market situations through a chronological survey based on the cost data prevailed during four decades from the 1960's until the 1990's in overseas markets.

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PSM based Price Estimating for Local Mixed-Use Apartment Development (PSM기반 중소도시 주상복합 아파트의 분양가 추정에 관한 연구)

  • Park, Jaekyung;Cho, Yongkyung;Lee, Sangyoub
    • Korean Journal of Construction Engineering and Management
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    • v.15 no.4
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    • pp.86-94
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    • 2014
  • Since the late 1990s, mixed-use apartment, armed with high qualities and large scales with a high ratio of TFA(Total Floor Area) have been continuously provided accommodating exclusive community facilities along with high-tech securities, not to mention excellent skyline view. However, especially in mid-small cities, there have been only a few supplies. As a result, none of the mixed-use housing provided by high-end brands has ever been built in non-metropolitan area. But constructors couldn't plan the projects which aims to build the mixed-use apartment in local city, because they couldn't get the basic data or advanced research for feasibility analysis. Therefore, to suggest the useful price for mixed-use apartment supply project of local city, the PSM(Price Sensitivity Method) widely used for determining the price preferences as a market research tools has been applied. As analysis results, the estimated price of mixed-use apartment is 10.8% higher than general apartment, and mixed-use apartment has lower price sensitivity than general apartment. As price determinants, the age, education level and family size influence on UTP in significant level. It is expected that these research findings can be applied for establishing the solid marketing strategy of mixed-use apartment development project in local city.

A Study on the Demand Zone of Housing for New Town: Focused on Seoul Metropolitan Area (택지개발지구의 주택 수요권역 실증 연구: 수도권을 중심으로)

  • Kim, Jong-Lim;Cho, Han-Jin;So, Soon-Woo
    • Land and Housing Review
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    • v.6 no.3
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    • pp.107-115
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    • 2015
  • Recently one of interest concern in domestic housing market is to reduce the difference of supply and demand. Exact demand estimation by accurate demand region is a essential cue to reduce the gap. This empirical study compared the data of housing subscriber's real address with estimated demand area on household movement, which are applied by advanced studies. This empirical case data is related to 3 housing development districts in metropolitan area. As a result, This study found that the real demand area has a more widened coverage compared with those of household movement one. For to establish exact demand area, we found, more complementary considerations should be taken. Especially some factors such as distance between a project site and downtown of Seoul Metropolitan City, locational competitiveness on main demand and behind demand, and development scale are more considerable variables. In additionally, we found the demand areas are influenced by housing rental types, sizes and the real estate business trends. And also, this study found those factors should be considered with housing price and locational competitiveness.

Activation of Harbor City Renovation Projects based on Residents Participation: Case Study of Busan North Harbor Redevelopment Project (주민참여를 통한 항만형 도시재생사업의 활성화 방안 - 부산 북항재개발사업을 중심으로 -)

  • Ryu, Dong-Gil;Park, Won-Seok
    • Journal of the Economic Geographical Society of Korea
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    • v.13 no.3
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    • pp.381-397
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    • 2010
  • The purpose of this paper is to examine the activation of harbor city renovation projects through analyzing the measures of residents participation and urban marketing, based on case study of Busan North Harbor Redevelopment Project. The main results of this study are as follows. Firstly, according to questionnaire survey, public opinion surveys, citizen advisory committees are more effective as the methods collecting residents' opinion. Especially, residents' opinion is most important on the stage of deciding final alternative. Secondly, according to questionnaire survey about urban marketing, respondents prefer local government as a main agent of urban marketing. They prefer improving urban infrastructures as a main issue of urban marketing. They also prefer enhancing positive image of havor city and promoting the city for foreign tourists, as effective measures of urban marketing. As a result, activation of harbor city renovation projects will be activated through the residents participation and urban marketing, because those may stimulate creative and distinctive development ideas.

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The Impacts of the Green Growth Policy on Green Living of Residents in Multifamily Housing

  • Lee, Hyunjeong;Yoon, Jungduck
    • Architectural research
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    • v.15 no.2
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    • pp.59-68
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    • 2013
  • To ameliorate a long-standing, persistent housing shortage in Korea, large-scale massive housing production has been an imperative, and the extensive growth highly values development and consumption. The state's priority for the quantitative growth of housing stock has proved to be successful, but the state faces with economic and environmental crises in a global era. To achieve the qualitative growth, the previous administration pronounced a green growth policy from the inception, and a series of strategic measures under a holistic plan have been taken widely and vigorously. As part of the strategies, the green home project was undertaken, and simultaneously the movement of green living led by the governance has been activated. However, little attention to the grassroots effort was paid and the efficacy hasn't been adequately addressed. This study examines the factors affecting green living of residents in multifamily housing. Based on public guidelines to green living, 106 specific items were drawn out and largely categorized into 6 areas (water, waste, transportation, air quality, consumption, and energy), and the questionnaire was constructed using them. Of 750 survey forms mailed out, 161 responses were returned and the collected data were used for statistical analysis. The findings indicated that varying degrees of green living was well practiced, the state-led green home project was relatively well recognized, and the green growth policy was strongly supported. Also the respondents' attitude toward green living were more associated with demographic variables than housing characteristics, and familiarity with green home project was related to attitudes toward green living. Since the on-going approach to green living has focused on simple and economical ways, it has proved to be effective but progressive strategies to make living greener are necessarily developed.

CONSTRUCTION FINANCING AND INDUSTRY DEVELOPMENT

  • Yat-Hung, Chiang
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.962-969
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    • 2009
  • The market of building construction has been competitive in Hong Kong, perhaps as anywhere else in the world. The barrier to entry is low because there are relatively low requirements on the three factors of production - technology, manpower and finance. The prevailing building technology is traditional and labour-intensive. There is also not much need of capital because clients' periodic payments have been the main source of project finance. Further, capitalizing on trade sub-contracting, contractors have been able to keep their direct labour-force small and to transfer much of their business risk to the sub-contractors. Based on interviews to solicit the perception of a sample of building contractors on the particular issues of construction finance, we present the findings in this paper and discuss the various implications. We believe that the current practice of construction financing is both the cause and effect of the competition within, and the competitiveness of, the building construction sector in Hong Kong. We conclude that the building construction sector is "locked or stuck" in this "equilibrium" of traditional technology, reliance on clients' finance and exploitation of sub-contracting. In this "equilibrium" state, there is hardly any motivation for contractors to engage themselves in product or process innovation. Consequently, any talk of industry reform or innovation could only remain just that. We believe that this problem is not unique in Hong Kong. The building construction sector in many other developed and developing economies is posed with similar if not the same problems and constraints. We conclude that there has to be some "external forces" to bring this "equilibrium" state to a higher level "equilibrium" one where higher value-added building construction services are supplied and demanded. This is a state where building contractors possessing innovative technology, better financial and manpower resources could thrive to build better buildings with innovative building methods and processes.

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A Study on Establishing Entry Strategies of Private Engineering Firms in the Overseas Urban Development Market (기업의 해외 도시개발 시장진출을 위한 전략수립에 관한 연구 - IPA 기법을 중심으로 -)

  • Song, Hokyoung;Yu, Youngsu;Koo, Bonsang
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.1
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    • pp.86-95
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    • 2019
  • As the urban development economy is stagnating due to the reduction of the budget for Social Overhead Capital (SOC) and the stabilization policy of the real estate market, there is a steady increase in the interest of domestic construction companies to enter the overseas market. However, domestic construction companies are showing a decline in overseas urban development market as compared with advanced foreign companies having excellent financial management and overseas project management ability. Therefore, it is necessary for domestic companies to select an urban development model that meets the environment and the level of the country of entry, and to establish an advance strategy to manage the risks of overseas business. For this purpose, the factors of entry into the overseas urban development market through the existing research, literature analysis, and FGI were derived, and survey strategy and IPA analysis were conducted to develop strategies for entering the overseas urban development market. As a result, we have established a strategy for private companies to enter the overseas urban development market.

A Review on Urban Resilience Assessment Methods

  • Barjau, Jaime;Wong, Francis K.W.;Fang, Dongping
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.685-686
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    • 2015
  • The world is currently undergoing an intense urbanization process. The percentage of urban dwellers has never been so high. In 2010, and for the first time, urban population surpassed the rural one, accounting for 51% of global population, and this trend will continue in the forthcoming years. This increment in concentration of population and supporting assets in cities, make their performance a critical issue for world population. Recent events such as Fukushima tsunami and the hurricane Katrina have shown how fragile built environments are and the unpredictability of occurrence and magnitude of the hazards. Such an expansion of the world's urban population, together with an increase in severity and number of hazards and catastrophes, has put under the spotlight the necessity to build cities not only sustainable, but resilient. Decision makers should acknowledge failure as an option, and the importance of developing city resilience. This paper will provide an initial review on urban resilience, definitions and assessment approaches as a first step for decision makers to account for resilience in their decision making process.

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