A dissertation submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in fulfilment of the requirements for the degree of Master of Science in Building. / With changing supply and demand economic conditions which may be unfavourable, it is imperative that investors time redevelopment of a property asset in order to maximise profitability. When correlating the relationship between capital values and vacancy rates of super regional shopping in South Africa between the years 2003 – 2012 there is a positive correlation, meaning that investors are not adequately timing the redevelopment of super regional shopping centres in order to maximum profitability.
This research utilizes multi-stage real options to time redevelopment of shopping centres in order to maximise profits, through the analysis of supply and demand economic variables; and the Black-Scholes Model.
The research methodology of the study ensured that the research results utilized were thoroughly investigated and tested through reliability and validity testing measures; and that the data collected was harvested from credible and reputable databases such as the Investment Property Databank Limited, Statistics South Africa and the City of Johannesburg.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:wits/oai:wiredspace.wits.ac.za:10539/17746 |
| Date | 14 May 2015 |
| Creators | Mogodi, Machabane Francinah |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | application/pdf, application/pdf |
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