The construction and Civil Engineering industry is characterized by high risks, but equally high returns. The dynamics and complexities of this industry and its cycles, make it an extremely volatile and difficult industry to operate within. This is evident in the number of construction companies currently struggling to remain solvent, have gone into business rescue, and filed for bankruptcy. This industry has historically struggled to position itself effectively to deal with a down turning macro-economic environment - When it is good, it is very good, but when it is bad, it is very bad. Typically, there have been two differing strategies – Specialisation and Diversification. Specialisation, on the one hand, enables contractors to fine-tune their skill set and gear their businesses accordingly, to enhance their competitive edge. However, the result is concentration risk. Diversification however, enables contractors to become more risk-averse, and thereby less sensitive to the extremes of the cyclical nature that the construction industry is characterised by. The application of portfolio theory to a portfolio of construction projects was investigated, advancing the existing research done by Kangari and Riggs. Whilst most research has been limited to listed construction company performance, this analysis differentiates itself as it focusses on the intrinsic performance of actual construction projects (assets), which together form a portfolio. The theory is motivated by the concept that in order to value the stock, one must value the business. Construction companies should pay more careful attention to the selection of their projects. Critically, they should avoid becoming heavily invested in one type of construction, but rather to find a balance that will provide diversified risk benefits. Becoming more diversified can be achieved by investing in different types of construction projects - reducing specific risk. However, the most diversified position can only be achieved when investing outside the field of construction completely, and thereby reducing not only specific risks, but systematic risks too. This enhances sustainability in a way that the construction industry has not yet experienced.

The primary purpose of this study is to investigate the presence of client's influences on property valuer behaviour in South Africa. The study aims to investigate the existence of these influences, the variables of these influences and the possible consequences for the valuation industry. International literature reveals that this phenomenon is prevalent in a number of countries. This study aims to uncover this phenomenon in South Africa. Registered South African valuers are targeted by survey questionnaires to extract the relevant data necessary to support this claim. The response rate is a broad representation and sufficient data is gathered for the research purposes. Furthermore, prominent valuation companies and valuers are interviewed in order to elaborate and support the data extracted from the survey questionnaire. The study indicates that client influence on valuers exists in South Africa and that a majority (54%) of practising valuers have adjusted their valuations after client interaction. The concern is that this prevalence of influence will be detrimental to the valuation industry in South Africa. This study aims to promote awareness of these influences, and recommendations are made to curb this phenomenon.

The Discounted Cash Flow method of property valuation is a fairly new method and research in other English speaking countries indicated a trend towards the use of the DCF method in preference to the Capitalization method despite an initial hesitance due to the perceived complexity of the method. The aim of this study was therefore to form an understanding if similar perception of complexity exists in South Africa and how these perception influence the perceptions and preference of use of the DCF method of valuation by valuation professionals within the South African context. The research was guided by three specific research questions which probed valuers' methodology preference, valuers' education, and difficulties experienced in accessing data needed for DCF valuation input variables. A mixed method research approach was adopted using questionnaire and document surveys to gather data from valuation professionals, lecturers of valuation education programs accredited with the SACPVP, and the curricula of these programs. The results indicate a general low preference for the use of the DCF method of valuation while the Capitalisation method is indicated as the most preferred method. This low preference was found to be the result of a high degree of difficulty experienced in accessing data needed for DCF valuation input variables. It was also found that the level of valuation education increases the acceptance and preference for the use of the DCF method.

This thesis investigates the perception of public sector property management professionals on the differences between public and private sector management in South Africa. The main objective of the research is to ascertain if private sector property performance measures are appropriate and sufficient in scope to be used in the public sector. A two-fold quantitative-descriptive survey method was used together with an analysis of the public property management literature. The research established that property management between the two sectors is different mainly due to their different objectives of property ownership, the private sector being profit driven while the public sector is social service delivery oriented. Property composition is also different as the public sector property portfolios are diverse as they include assets that have both financial and non-financial objectives. The study concludes that private sector property performance measures are appropriate for use in the public sector as they address financial issues. However, these measures are insufficient as they tend to ignore non-financial variables that contribute to service delivery which is one of the main reasons for the public sector's existence. Therefore an appropriate and sufficient public sector property performance regime should include both financial and non-financial variables, which can be presented by a service balanced scorecard (SBS) which measures public property's contribution to service delivery.

Includes bibliographical references / The purpose of this mini dissertation is to review the adequacy of Built-Together Program loan funds for the large-scale delivery of adequate housing for low-income groups and to assess the performance of the loan scheme using the concept Balance Scorecard as an assessment tool. The research method employ s interview and survey methods to collect data. Data was collected and analyzed from a n administrator and beneficiary perspective to understand the workings and the main characteristics of the program. The primary beneficiaries of the Built-Together Program are the vulnerable in society and comprise primarily of women and single parents. It is therefore critical that the efficiency and sustainability of the loan scheme be improved to ensure that the needy in society continue to benefit. One of the major findings of the research is that the Built-Together Program is inadequate to deliver the most basic low-income house. It is therefore not surprising to hear and read about the dissatisfaction about the Built Together Program expressed by the Namibian Government, local and regional councils and beneficiaries in the local media. The research recommended that the authorities review the Program and bring it in line with the critical successes requirements for national housing policies and strategies.

This research is primarily focussed on the dynamics that determine the maturity of property markets. It considers the evolving institutional environment in which markets function and highlights the characteristics of property markets in both developed and developing countries in order to analyse the characteristics required to determine their maturity. The primary research targets the city of Doha located in Qatar. This is compared to other property markets around the world, using the available literature and the knowledge of Doha's expatriate property professionals. The purpose of this research is to contribute to the research and knowledge of property markets by assessing the players, institutions and characteristics of the property market in Doha to assess whether it is driven by the same maturity forces as those that drive typical markets elsewhere. The research concludes that property market outcomes could be improved in Doha by improving and developing the property market maturity factors. Considering all the factors. The property market in Doha was identified as fairly immature in comparison to international best practice. It has improved significantly recently and is on a path to compete with the more mature markets in future. Recommendations proposed in the research findings focused particularly around the strengthening of property market institutions to allow for further improvements to market maturity and cautioned against verbatim copying of successful market practices from elsewhere.

In recent years, the Cape Town CBD has experienced urban renewal and regeneration. The Bo-Kaap and De Waterkant, two inner city neighbourhoods adjacent to one another, have reacted differently to this process. De Waterkant is completely gentrified, and the Bo-Kaap not. This research study aimed to demonstrate the contrasting potential and pace for gentrification and account for the differentiating gentrification outcomes of two neighbourhoods within the same city. Based on the literature reviewed and key informant interviews this study finds that gentrification does not develop as a single process. The pace and potential for gentrification is determined by the contextual particularities, investment opportunities and the nature and strength of the community. In the case of the Bo-Kaap and De Waterkant, the historical context directed the future potential for gentrification, while the respective communities currently determine the pace.

The global real estate industry is said to be five years behind the technology curve. By some estimates, as much as a third of global real estate assets are managed by spreadsheets. Despite this, venture capital firms around the globe invested $1.5bn in real estate technology during 2015 and a further $1.8bn in the first half of 2016 (CB Insights, 2016). Within that context, this research seeks to examine whether or not real estate companies leverage technology to achieve best value, what the major benefits of technology are and finally, the key inhibiting and enabling factors impacting technology adoption. Initially, a theoretical foundation of modern facilities management is laid, including its relationship to real estate. An examination of the most prominent broad and specific technologies follows. A qualitative approach was favoured, specifically, a case study combined with semi-structured interviews of information technology leaders in the global real estate industry. It was established that real estate companies do leverage technology to achieve best value, but that the degree, nature and extent thereof varies depending on a range of systemic, idiosyncratic and external factors. It was established that the most significant benefits of technology were operational efficiencies and remote accessibility of real-time operational data. The key enabling factors were found to be robust, affordable infrastructure, the consumerisation of technology, scale and technology-focused leadership. The absence of these factors were regarded as having an inhibitory impact.

Purpose - The aim of this thesis documentation was to identify the Urban FM principles and key criteria which contribute to the attainment of a sustainable urban precinct. The need for a better understanding of the relationship between buildings, people and the urban precinct to facilitate the development of an increased understanding of sustainable cities was highlighted during the literature review. Urban FM, as an emerging field, also created the need for the study of FM principles at a macro scale. Design/methodology/approach - Using the case study methodology, the research used the case of Ebene Cybercity and adopted a social constructionist, interpretivist framework. Qualitative data was collected using face-to-face interviews as the prime data collection technique and analysed through generation of themes. Findings - The main findings were that FM principles at a macro scale are mainly applied at a strategic level and as such, implementation of an FM plan needs a strategic awareness and support at the top level of the structure being managed; involving both the political leadership and the top management of the urban precinct. It was also found that implementation of such an FM strategy at the macro scale was allowed through the following key criteria: a clustering effect, flexibility, formal communication channels, design preconditions and macro strategic drivers. These findings were thus used as a basis for the generation of a model to establish the principles of a macro urban FM strategy and a list of key criteria which facilitate the implementation of such a strategy. Practical Implications - The thesis finally ends with the proposition for further research in the field of Urban FM at a macro level to strengthen the generalisation to theory and work towards a new infrastructure model firmly anchored in the sustainability principles. The scope for future research in the African context with its low level of urbanisation is particularly relevant where there is need for new, wide-ranging urban policies to create African cities and towns capable of generating sustainable growth and development.

The purpose of the research was to examine the issues that constrain and facilitate the use of value capture mechanisms by the state in Uganda. Considering that limited research had been undertaken on value capture in Uganda, an exploratory case study approach was used to identify and investigate the issues associated with the use of value capture in Uganda. The identified case study was the Kampala-Entebbe Express Highway. The methodology involved collection of data using the survey method and desktop review of relevant documentation. The survey method was conducted using face to face interviews with carefully selected respondents that were knowledgeable in the subject matter of the research. Both qualitative and quantitative data were collected. The qualitative data was analysed using thematic analysis with the assistance of Nvivo, a qualitative data analysis tool while descriptive statistics was used to analyse the quantitative data. The findings of the research showed that value is created from the provision of public transport infrastructure. However, there are issues that may constrain the capture of this created value. These included insufficient valuation of land parcels and registration of land ownership, the existing land tenure system, gaps in the policy and legal framework and insufficient institutional capacity.