Risk-Based Decision Making Framework for Investment in the Real Estate Industry

Demong, Nur Atiqah Rochin; Lu, Jie

doi:10.1007/978-3-642-25755-1_14

Cited by 3 publications

(1 citation statement)

References 47 publications

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“…Economic, political, social, construction, operational and other related risks issues have been recognized as crucial criteria for investment decision-making [6,26,27]. Risk assessment has been widely used to make investment decisions by the private sector [28]. Risk in investment environment under PPP projects was also found to profound influence the private sector's investment willingness.…”

Section: Category 6 -Operationmentioning

confidence: 99%

Impacts of Risk Factors on the Performance of Public-Private Partnership Transportation Projects in Vietnam

Likhitruangsilp

Onishi

et al. 2017

AEJ

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The rapidly increasing demand and the inefficacy of financing transportation infrastructure project investments have contributed to various challenges for Vietnam in recent decades. Since the country’s budget is inadequate for investing in all necessary infrastructure projects, the Vietnam government has been inviting other economic sectors, especially the private sector, to participate in infrastructure development. The cooperation between the government agencies and the private entities, called PublicPrivate Partnership (PPP), must encounter various challenges leading to difficulties in attracting private investors. A main reason is that private investors must deal with critical risks concerning PPP investment environment. It is a challenging task for the government to optimally manage such risks to enhance the attractiveness of PPP projects for private investors. This paper examines the critical risk factors that influence the private sector’s investment decisions on PPP transportation projects in Vietnam. Risk factors inherent in typical PPP projects were compiled by comprehensive literature review. To reflect unique characteristics of PPP projects in Vietnam, the compiled risk factors were reviewed by a group of PPP experts from both the public and private sectors in Vietnam through indepth interviews and questionnaire surveys. In addition, ten PPP project case studies in Vietnam were analyzed to derive the risk profile of PPP transportation projects of the nation. These risk factors were quantitatively assessed based on their probabilities and impact levels. We found that the critical risk factors of PPP infrastructure projects in Vietnam are acquisition/compensation problems, approvals and permits, inadequate feasibility studies, finance market issues, subjective evaluation methods, and change in laws and regulations. By performing factor analysis, these critical risk factors were grouped into four categories: (1) bidding process, (2) finance issues, (3) laws and regulations, and (4) project evaluation issues. These critical risk factors represent the obstacles that repel private investors from PPP transportation projects in Vietnam. Thus, the Vietnam government agencies should meticulously address these issues to attract both domestic and foreign private investors in PPP projects.

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Section: Category 6 -Operationmentioning

confidence: 99%

Impacts of Risk Factors on the Performance of Public-Private Partnership Transportation Projects in Vietnam

Likhitruangsilp

Onishi

et al. 2017

AEJ

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Determinanten zur Ausgestaltung des immobilienwirtschaftlichen RMs

Oertel

2018

Quantitatives Risikomanagement in Der Immobilienwirtschaft

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Gap analysis in decision support systems for real-estate in the era of the digital earth

Rabiei-Dastjerdi

McArdle

Matthews

et al. 2020

International Journal of Digital Earth

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Searching for a property is inherently a multicriteria spatial decision. The decision is primarily based on three high-level criteria composed of household needs, building facilities, and location characteristics. Location choice is driven by diverse characteristics; including but not limited to environmental factors, access, services, and the socioeconomic status of a neighbourhood. This article aims to identify the gap between theory and practice in presenting information on location choice by using a gap analysis methodology through the development of a seven-factor classification tool and an assessment of international property websites. Despite the availability of digital earth data, the results suggest that real-estate websites are poor at providing sufficient location information to support efficient spatial decision making. Based on a case study in Dublin, Ireland, we find that although neighbourhood digital earth data may be readily available to support decision making, the gap persists. We hypothesise that the reason is two-fold.Firstly, there is a technical challenge to transform location data into usable information.Secondly, the market may not wish to provide location information which can be perceived as negative. We conclude this article with a discussion of critical issues necessary for designing a spatial decision support system for real-estate decision making.

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Risk-Based Decision Making Framework for Investment in the Real Estate Industry

Cited by 3 publications

References 47 publications

Impacts of Risk Factors on the Performance of Public-Private Partnership Transportation Projects in Vietnam

Impacts of Risk Factors on the Performance of Public-Private Partnership Transportation Projects in Vietnam

Determinanten zur Ausgestaltung des immobilienwirtschaftlichen RMs

Gap analysis in decision support systems for real-estate in the era of the digital earth

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