Modeling Risks in Real Estate Development Projects: A Case for Egypt

Marzouk, Mohamed; Abou-Shady, Ahmed

doi:10.3846/ijspm.2018.6270

Cited by 4 publications

(3 citation statements)

References 26 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…By reviewing relevant recent papers [2][3][4]7,8,12,14,20,[30][31][32][33][34] and analyzing interviews with senior construction workers to discover their work experiences, this study identified the 54 most common risk factors on construction sites in Taiwan. These factors were in five categories: (1) client, (2) design, (3) contractor, (4) subcontractor, and (5) external risk factors.…”

Section: Sample Data Analysismentioning

confidence: 99%

Research for Risk Management of Construction Projects in Taiwan

Lin

Chen²

2021

Sustainability

View full text Add to dashboard Cite

Risks inevitably exist in all stages of a project. In a construction project, which is highly dynamic and complex, risk factors affect the expected achievement rates of the three main performance goals, namely schedule, cost, and quality. A comprehensive risk management procedure requires three crucial steps: risk confirmation, analysis, and treatment. Risk analysis is the core of risk management. Through structural equation modeling, this study developed a risk analysis model that takes a different perspective and considered the occurrence probability of risk events and the extent to which these events affect a project. The contractor dimension was discovered to exert the strongest influence on an overall project, followed by the subcontractor and design dimensions. This paper proposes a novel construction project risk analysis model, which considers the entire project. The proposed model can be used as a reference for risk managers to make decisions about project risks, so as to achieve the ultimate goal of saving resources and the sustainable operation of the construction project.

show abstract

Section: Sample Data Analysismentioning

confidence: 99%

Research for Risk Management of Construction Projects in Taiwan

Lin

Chen²

2021

Sustainability

View full text Add to dashboard Cite

show abstract

“…The risk, on the other hand, is a measure of a loss that has been recognized as a likely result of an action (Byrne & Cadman, 1984). Due to the high levels of risk and uncertainty connected with the real estate building sector, projects must examine risk occurrences seen in their projects in order to eliminate vagueness, imprecision, and unavailable data and information (Marzouk & Aboushady, 2018). Real estate development might be faced with various risk factors.…”

Section: Risks In Real Estate Developmentmentioning

confidence: 99%

“…Real estate developers, brokerage businesses, property consultant service organizations, real estate financing firms, and real estate investors have expanded their activities beyond the local market towards penetrating international segments. Furthermore, it is critical to the development of developing economies such as Sri Lanka (Marzouk & Aboushady, 2018). In this setting, each real estate developer must be perceptive in bringing their development to market at the right time and at the right price, as development profits are finalized based on the developers' management of development costs over time, in contrast to the gross value of their development at the end of the project.…”

Section: 10 Introductionmentioning

confidence: 99%

Approach to Prioritizing the Commercial Real Estate Development Risk

Thilini

Wikcramaarachchi

Anuradha

2021

INTREST

View full text Add to dashboard Cite

After 30 years of war in Sri Lanka, the demand for real estate has increased tremendously across the nation. Similarly, numerous real estate sub-sectors have avidly participated in the worldwide boom. However, with failures and poor functioning of many investment projects, the industry's risk management reputation has been put in jeopardy, followed by the coronavirus (COVID-19). Though it is less popular among Sri Lankan property developers, risk management strategies in development projects have become a pressing requirement. This paper's goal is to look at commercial property development risk elements from the perspective of a real estate developer in relation to Social, Economic, Environmental, Technological, Political, and Pandemic Risks. The research first evaluates risk variables using a super decision software model based on the Analytic Hierarchy Process (AHP), then prioritizes the most important risk factors, and lastly examines effective risk management measures for successful real estate developments. The data collection has been carried out using interviews through telephone conversations with the help of a structured questionnaire. Accordingly, 35 risk factors have been assessed altogether. For the three projects, the synthesized values were 1.0000, 0.510763, and 0.604037, respectively. Based on the analysis of superMatrix calculation, project A is regarded as the best alternative project in such circumstances. Pandemic Risk, Economic Risk, and Political Risk have all had a significant impact on the primary risk criteria. Therefore, COVID-19 Pandemic Risk Emergence, Workforce Availability, Duration, Delays in Council Approval/License Approval Process and Natural Disaster Impact were identified as the highest influenced sub-risk factors. Identifying the risk factors on this avenue will also help in making better investment decisions while increasing the unpredictable nature of the real estate field and future satisfaction of loan team investment goals within the country.

show abstract