International Journal of Property Sciences (E-ISSN: 2229-8568)
The International Journal of Property Sciences (IJPS) provides immediate access to academic articles, review papers, case studies and pedagogical material in the areas of Real Estate and Property Economics, Urban and Regional Sciences, Property Finance, Urban Development and Planning, Property Management and all related fields that are related to Property. Frequency: Yearly (August) Language: English and Bahasa Malaysia Indexing: MyJurnal, Google Scholar, UDLedge Beta e-ISSN: 2229-8568 Inquiries: ijps@um.edu.my
Faculty of Built Environment, Universiti Malaya
COPYRIGHT. All rights reserved. No part of this journal may be reproduced, copied or transmitted, in any form or by any means, electronic, mechanical, photocopying, and recording or otherwise without proper written permission from the publisher. Any opinion expressed in the articles are those of the authors and do not reflect that of the Universiti Malaya, 50603 Kuala Lumpur, Malaysia
Assessment of the Effect of Anticipated Factors on Real Estate Investment Performance of Insurance Companies in Nigeria
Nigeria has a severe housing shortage of almost 28 million units, which is impeding social stability and economic prosperity. The National Housing Fund (NHF) Act and other legislative frameworks require insurance companies to invest a percentage of their premiums in real estate; nonetheless, the sector's actual investment is still quite small. To determine and rank the internal and external factors influencing Nigerian insurance firms' success in real estate investments, this study combines Factor Analysis, Principal Component Analysis (PCA), and the Relative Importance Index (RII) in a novel way. Structured questionnaires were used to collect data from 44 insurance companies, yielding solid, industry-specific insights. A methodological strength that improves the efficiency and clarity of interpretation is the PCA's ability to reduce 24 variables to six essential components, which together account for 83.32% of the total variance. While external variables like infrastructure, governance, and investor perception were shown to be significant but less dominant, internal factors like capital volume and fixed assets had the strongest influence (RII > 0.87). The study provides a new, empirically supported paradigm for identifying investment obstacles by fusing RII and PCA. By addressing the discrepancy between policy expectations and actual investment behaviours, this study contributes to the body of knowledge by providing specific recommendations for infrastructure planning, institutional capacity building, and policy reinforcement. The results offer a calculated plan for employing insurance cash to alleviate the housing situation in Nigeria.
Malaysia Vision Valley 2.0: Potential Impacts on Labu’s Development
The study examines the impacts of Malaysia Vision Valley 2.0 (MVV 2.0) on the growth and development of Labu. Leveraging the spatial triad theory and the concept of a sense of place, it explores the relationships between urban spaces and Labu’s economic and social development, emphasising how changes in the built environment influence local livelihoods, social cohesion and identity. The methodology involves archival spatial mapping and interviews with the local community to capture historical trends, community perceptions, and potential challenges. The literature review establishes a theoretical framework highlighting the significance of perceived spaces in shaping urban identities. Findings reveal positive correlations between economic growth and community development, particularly where planned MVV2.0 projects align with existing community needs and capacities. The spatial triad theory guides the interpretation of existing urban spaces, while the concept of a sense of place informs the exploration of Labu's unique identity. Furthermore, the research uncovers challenges related to planning and community engagement, including gaps in coordination between stakeholder and limited opportunities for inclusive participation. This study enriches the discourse on urban development by synthesising theoretical frameworks with empirical data, underscoring MVV 2.0's potential to influence Labu's growth positively, contingent upon carefully considering the city's unique socio-cultural and spatial dimensions. The research recommends for a sustainable approach that balances economic growth with community well-being, preserve Labu’s heritage, and protects the environment, ensuring MVV 2.0 creates a vibrant and resilient community true to Labu’s identity.
Copyright (c) 2025 International Journal of Property Sciences (E-ISSN: 2229-8568)
A Framework of Media Architecture Elements in Redefining Urban Environments
Media architecture integrates media technology with the built environment, transforming structures into communicative surfaces through digital displays, interactive installations, and dynamic lighting. Despite its innovative nature, research on media architecture's impact on human behaviour and urban experiences remains limited. Lacking unified design principles, this study aims to identify key elements of media architecture and assess their influence on user experience. The study recognizes the absence of standardization and regulations and thus explores how identified elements can lead to innovative, functional designs integrating digital media with physical environments. Proposed conceptual framework was initially tested through case studies of two internationally recognized buildings. Addressing the limited research on media architecture within Malaysia, the framework was then applied to Pavilion Kuala Lumpur. Findings reveal the framework's utility in assessing the integration of built form and digital information, the socio-spatial impact of media architecture, and the balance between commercial and community-oriented content. The study underscores the importance of harmonizing design with context to promote engagement and enrich urban experiences.
Exploring Public Perceptions of Urban Resilient Design: Insights from Mental Mapping
Urban resilient design is a crucial strategy in urban sustainable development, which needs to be understood by the public. However, misunderstandings surrounding resilient design often impede its effective implementation and impact. This study explores public perceptions of urban resilient design characteristics and the factors influencing such perceptions. Through interviews and mental mapping of 14 participants between the ages of 18 and 65, the study was analysed based on landscape perception theory, combined with mental mapping and field interviews. Our findings reveal personalised painting mechanisms influenced by subjective factors and explore participants’ experiences and feelings in depicting natural and built elements, as well as route reviews. The results highlight how participants’ perception of resilient design manifested itself in the routes and key elements they described, with subjective factors such as age, identity and familiarity playing a key role. Moreover, the study describes how experience shapes public perceptions of robustness, adaptability, redundancy, efficiency, and connectivity, while familiarity influences perceptions of diversity and modularity. Based on these insights, the study proposes strategies to optimise resilient design characteristics, which have important implications for promoting sustainable urban development.
A Document-Based Study of Strategic Decision-Making in Real Estate Investments by Government-Linked Investment Companies (GLICs)
This study critically examines institutional investors’ role and strategic approaches in Malaysia’s real estate market, with a particular focus on Government-Linked Investment Companies (GLICs). These entities, encompassing pension funds, mutual funds, special purpose funds, and sovereign wealth funds, function as state investment arms, wielding significant influence over the nation’s economic trajectory. Despite their substantial financial resources and policy-driven mandates, GLICs allocate a disproportionately modest share of their portfolios—typically between 5.3% and 20%—to real estate. This raises critical questions about the underlying constraints, risk perceptions, and structural inefficiencies that may impede a more assertive real estate investment strategy. This research systematically analyses 34 documents, including annual reports, regulatory frameworks, and legislation, and examines the governance and decision-making structures that shape GLIC’s investment strategies. The findings highlight a multi-tiered and strict hierarchy involving Boards, Investment Panels, Shariah Compliance Committees, and Real Estate Departments, employing both top-down and bottom-up approaches. While this structure ensures regulatory compliance and risk mitigation, it may also introduce bureaucratic inertia, limiting responsiveness to market opportunities and emerging asset classes. Furthermore, legislative mandates such as the Employees Provident Fund Act 1991, the Retirement Fund Act 2007, the Tabung Angkatan Tentera Act 1973, and the Tabung Haji Act 1995 impose distinct constraints and investment thresholds that potentially restrict agility in portfolio expansion. A key paradox emerges, despite real estate’s ability to hedge against inflation and provide stable returns, GLICs prefer more liquid asset classes. Their limited allocation to real estate, even with diversification across traditional and non-traditional sector globally, suggests a preference for alternative investments. This trend rises questions about whether regulatory rigidity or cautious investment culture limit the potential of real estate as an asset class. The findings underscore the need for policy recalibrations, governance reforms, and strategic realignments to unlock the full potential of institutional real estate investments. These insights hold significant implications for policymakers, market participants, and researchers at the intersection of finance, governance, and real estate development.
Understanding the Influence of Property Stigma on Overhang in Selangor’s Real Estate Market
This study examines the impact of various forms of property stigma: environmental, social, geographical, psychological, public, minimal, and physical, on property overhangs in Selangor. Property overhang, characterized by unsold properties despite completion, presents a significant challenge for developers and policymakers in rapidly urbanizing regions. The research utilizes Spearman's rank correlation analysis to explore the strength and direction of associations between these stigma types and the likelihood of unsold properties. Data were collected from 161 respondents, all potential property buyers, in Selangor, providing a diverse perspective on how stigma affects market outcomes. The results reveal statistically significant positive correlations between all forms of stigma and property overhang, with environmental stigma showing the strongest correlation (rs = 0.497, p < .001). These findings emphasize the complex, multi-dimensional nature of property stigma and its significant role in influencing buyer perceptions and the marketability of properties. The study highlights the need for real estate professionals and policymakers to address physical and non-physical stigma factors, such as environmental hazards or social perceptions, to reduce property overhang and improve the absorption of unsold properties in the market.
THE IMPACT OF ATTITUDE CHANGE FOR CLEANLINESS AMONG LOW COST FLAT RESIDENTS TOWARDS QUALITY OF LIFE IN JOHOR BAHRU, MALAYSIA
The primary cause of cleaning problems in low-cost flats is the attitude of the residents, who are frequently perceived as disliking their shared accountability and dedication to maintaining their dwelling zones. Hence, these attitudes will impact low-cost flats' quality of life (QOL). However, the relationship and effects of a change in attitude toward cleanliness from a property management perspective have received less attention in the literature. This study is conducted to determine attitude change factors for cleanliness among low-cost flat residents and to analyse the impact of attitude change factors towards resident's quality of life (QOL) near Johor Bahru. The quantitative method was used through a questionnaire survey from 100 respondents among low-cost residents. Descriptive analysis, factors analysis and correlation analyses were used for the data. The result shows that cognitive biases and belief formation are the top attitude change factors among the residents. The correlation between attitude change factors and QOL showed a strong correlation between cognitive and behavioural elements. This result can be a basis for further exploration of the change in the cleanliness attitude of low-cost residents.
CHALLENGES IN SUSTAINABLE RESIDENTIAL PROPERTY DEVELOPMENT IN SHAH ALAM: PATHWAYS TOWARDS IMPLEMENTING SUSTAINABLE DEVELOPMENT GOALS (SDGs)
There is an urgent need to align urban growth with environmental, social, and economic sustainability principles in rapidly developing cities like Shah Alam. The pressing issue is the current gap between the city's rapid development pace and its ability to implement sustainable practices that align with the SDGs. The study focuses on two main objectives: to identify potential pathways for implementing Sustainable Development Goals (SDGs) and challenges in residential property development in Shah Alam. By employing qualitative content analysis and purposive sampling, the research identifies critical challenges, including lack of awareness among buyers, high costs, inadequate government support, lack of expertise, strict regulations, longer procurement times, and a focus solely on achieving green certification. However, these obstacles also present opportunities for strategic pathways toward SDG implementation. The study emphasises that addressing these challenges and embracing these pathways can drive Shah Alam toward sustainable residential property development, contributing to the city's overall resilience and sustainability while aligning with crucial SDGs. This approach is crucial for alleviating poverty, enhancing urban sustainability, promoting resource efficiency, combating climate change, and protecting local ecosystems. By overcoming these challenges, Shah Alam can progress toward sustainable development that ensures long-term environmental, social, and economic benefits.
DRIVING ICT ADOPTION AMONG REAL ESTATE AGENTS: AN EXTENDED TECHNOLOGY ACCEPTANCE MODEL
TThe practice of real estate agents and the extent to which Information and Communication Technology (ICT) is applied in Malaysia appears to be more specialised and diverse with the exploration of technology and innovation. Due to the increasing interest in using more innovative marketing and negotiation techniques, this study focuses on real estate agents' acceptance as well as the intention to use ICT in Malaysia according to the extended Technology Acceptance Model (TAM). In this study, a sample including 400 real estate agency practitioners was surveyed and analysed using Partial Least Squares-Structural Equation Modelling (PLS-SEM). The findings show that Perceived Usefulness (PU), Perceived Ease of Use (PEOU), as well as Trust (TRU) affect Behavioural Intention (BI). On the other hand, PU is affected by PEOU as well as Service Quality (SERQ). Meanwhile, PEOU is affected by Perceived Enjoyment (ENJ) as well as Innovativeness (INNO). These results indicate that ICT acceptance among real estate agents can be improved by providing them with high-quality service, fostering perceived enjoyment, building trust, and establishing innovative ICT solutions tailored to real estate agents' needs.
Copyright (c) 2024 International Journal of Property Sciences (E-ISSN: 2229-8568)
ICT ADOPTION AMONG REAL ESTATE AGENTS IN MALAYSIA
The success of real estate agents relies on the ability to provide better services to their clients efficiently and seamlessly. The use of Information and Communication Technology (ICT) is benefiting real estate agents by making it more convenient for real estate agents to find clients, advertise the property, and facilitate the property transaction process, which is indubitable. Therefore, the main objective of this study is to assess the level of ICT usage by real estate agents in valuation and agency firms in Klang Valley, Malaysia. Data were gathered through a survey conducted with these firms, and 400 responses were collected using a quantitative study and analysed using descriptive statistics and the Relative Importance Index (RII) ranking. The study revealed that most respondents adopt ICT in their practices, with the most frequently used tools being Mobile Instant Messaging, Social Media, and Real Estate Agent Websites. However, technologies such as Virtual Reality, Augmented Reality, Robotic Process Automation, and Metaverse Real Estate are rarely utilised. The study concluded that the widespread application of ICT in real estate is evident. However, inadequate training, higher cost of acquisition, and shortage of skilled people are the barriers that limit its full potential within the sector. This study recommends that the top management of valuation and agency firms provide training programs and ongoing support that cater to the specific needs of real estate agents.
AFFORDABLE HOUSING IN PAKISTAN: A COMPARISON BETWEEN LANDED AND VERTICAL HOUSING DEVELOPMENT IN LAHORE
Pakistan has experienced substantial housing growth and stands as one of the most urbanised countries in South Asia, yet it grapples with a housing backlog exceeding 10 million units. The affordability challenges in Lahore are particularly acute. In the realm of affordable housing, there is a preference for vertical living over landed homes. However, no prior research has systematically examined the price correlation between apartment living and landed housing, along with the impact of policies in the context of neoliberal ideology within Pakistan. Neoliberalism, emphasising the superiority of the market over the state has been a dominant force influencing affordable housing strategies. With this backdrop of affordability and neoliberalism, this paper aims to examine the performance difference between landed and vertical housing development. This paper aims to draw an affordability comparison between landed and vertical housing development using a document review and market survey. The study used a qualitative approach employing a case study design. For the data collection, interpretative discourse analysis for public documents was performed, and field surveys for pricing evaluation were conducted in Lahore. The analysis revealed that apartments by the private sector are not affordable for low-income people, often characterised by larger sizes and lacking specific quotas for low-income residents. The study recommends a comprehensive review of building regulations, particularly focusing on specific provisions (quota) targeting low-income people in housing development.
A SYSTEMATIC LITERATURE REVIEW ON THE FISHERMEN'S KNOWLEDGE OF INTEGRATING FISHING AND TOURISM ACTIVITIES
Education for the future requires everyone to consider the pillars of sustainability in carrying out their daily activities. It is crucial to note that education is an essential ingredient in achieving sustainable development. Fishermen, for example, live in poverty due to a lack of proper knowledge and learning exposure. Having greater insight into this research area would yield helpful information about the impact of education on the fishermen's community's well-being. The integration of fishing and tourism disciplines is ongoing and has produced positive results. An in-depth examination at how fishing and tourism might work together is presented here for the first time. Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) publication standard has been employed as a key research design approach. Web of Science and Scopus are the two key databases used in this study. A total of eleven (11) articles are eligible for review and analysis. Three (3) themes emerged from the thematic analysis, namely, 1) fishing and tourism, 2) knowledge, and 3) rural economies. This study proposes two (2) recommendations. To begin, there is a dire need for additional qualitative research because it is the only method to deliver comprehensive and precise knowledge. Second, authors can report reviews on any study in a systematic manner when they use the PRISMA method.
PERCEPTION OF PERSONS WITH DISABILITIES GROUPS ON ACCESSIBILITY AND CONNECTIVITY OF PUBLIC TRANSPORTATION INFRASTRUCTURE IN KUALA LUMPUR, MALAYSIA
Physical and attitudinal barriers have been identified as systemic failings in public transportation, resulting in a plethora of impediments that obstruct the travel of city residents. The purpose of this study is to evaluate the perceptions of designated groups of people with disabilities (PWD) regarding the accessibility of public transportation in Kuala Lumpur, Malaysia, in order to improve the city's public transportation system as a whole. This research strategy involves obtaining qualitative data from five distinct PWD groups, totalling twenty (20) respondents, using focus group discussion techniques four (4) individuals with physical disabilities, five (5) who are blind or partially sighted, three with learning disabilities, three older persons, and five who are deaf). The findings from the focus group discussions were organised into themes, categories, and codes. The results revealed that the PWD respondents had negative perceptions of the facilities, services, and safety of the public transportation system, particularly among those in the physical, blind, and learning disability categories. Standard operating procedures (24.12%), the design of public transportation vehicles (15.99%), and the design of transportation buildings (13.95%) were identified as the primary concerns. Additionally, the following recommendations were made; enhancing facilities and the built environment and educating the general public on the importance of creating a barrier-free environment. Understanding the perceptions of PWD toward the public transportation system in Kuala Lumpur, Malaysia paves the way for an inclusive and seamless transport system in the equitable society of Kuala Lumpur, Malaysia, thereby fostering trust and confidence in the system, especially among PWD groups.
EXAMINING THE DESIGN PARAMETERS FOR BALCONY IN MUSLIM SUDANESE APARTMENTS WITH A VIEW TO ENHANCE SOCIAL INTERACTION AND VISUAL PRIVACY
The balcony is considered an important element that makes valuable contributions to residential buildings at various levels, such as its function, use, design, and values. Balconies should be designed to improve the residential unit’s internal environment and be used for significant functions not only as a service area but also as a place for social interaction. Therefore, this study aims to analyse the balcony design variables that improve the degree of activity, privacy, interaction, and comfort for apartment unit residents, especially in Khartoum, where most of the population is Muslim. In order to evaluate the different variables and responses from residents, a mixed-method approach is used, combining questionnaire surveys and case study approaches. The findings revealed the significance of balcony space in Sudanese culture; also, respondents strongly support the idea that balconies might replace the function of traditional house yards if they evolve with a particular level of privacy and acceptable size. Hence, this paper provides design guidelines for balconies in apartment blocks that are suitable not only for the Sudanese but also the Muslims in general to preserve the good social culture.
COMPETENCIES FOR MANAGING GREEN BUILDINGS: ALIGNED COMPONENTS FROM MALAYSIA'S FACILITIES MANAGEMENT SERVICE PROVIDER
The increased development of green buildings in Malaysia has necessitated the need for facility management businesses to upgrade their competencies. However, as evidenced by past studies, a shortage of competences among practitioners has emerged as an uncertainty about firms' capacity for managing green buildings. Therefore, the purpose of the research is to acquire insight into the competency features of FM service providers in Malaysia for managing green buildings and to make recommendations for competency improvement. The qualitative approach was adopted, and interview was used to achieve the goals, the data was examined using content analysis. Based on the experiences of seven (7) managers who have managed green buildings, the five (5) core strengths of facilities management service providers in managing green buildings are sustainable procurement, operations, resource management, repair and maintenance, and environmental health. This study demonstrated common themes between facilities management and green building management competencies.
BUILDING SUSTAINABLE TENANCIES: TENANTS' PREFERENCE CRITERIA IN CHOOSING THE LOCATION OF PURPOSE-BUILT OFFICE BUILDINGS
Building sustainable tenancies is a comprehensive strategy used with tenants to establish sustainable relationship connections. Tenants are said to be the lifeblood of the building, thus retaining them is a difficult task that requires a variety of tactics in guaranteeing that they receive high-quality services. According to their business nature & requirements, as well as other considerations that the company may need to take into account, tenants have preferences for location and space. This paper attempts to determine the criteria that tenants consider when choosing a location and space for purpose-built office buildings. Through the use of a quantitative approach, a survey among the tenants of office buildings in Kuala Lumpur was conducted. From the responses gathered, it is found that the Criteria that have the biggest impact on where tenants choose to rent include the property's condition, type of finishes, cleanliness, competent management and maintenance team, and proximity to transportation in addition, the choices of tenants can also be influenced by criteria such as availability of facilities, location, property condition, security and access control, and branding/image.
A SYSTEMATIC LITERATURE REVIEW ON RISK IDENTIFICATION TOWARDS A PUBLIC-PRIVATE PARTNERSHIP APPROACH IN BUILDING REUSE PROJECTS
This paper aims to systematically review a wide range of literature to provide insights on the risk of public-private partnership (PPP) projects. The authors have critically reviewed the risk elements from the entire spectrum of the construction industry. Thus, the systematic literature review (SLR) method was employed to synthesise research with precise attention to detail. To achieve research objectives and to retrieve articles related to PPP and risk identification building adaptive reuse, the following database was utilised: Scopus, Google Scholar, ScienceDirect, and Web of Science. Number of related themes were collected and analysed according to the coding structure. The results present that a total of twelve (12) risk categories have been identified from the existing literature, namely, political, economic, legal, natural, demand risk, financial, residual asset risk, design, construction, operation, partner selection, and contract risk, respectively. These categories were further divided into fifty-seven (57) different risk factors, whereby the classifications were perceived to be related to the PPP project. In addition, sixteen (16) risk factors were identified in the context of building adaptive reuse specifically, focusing on feasibility and procurement stages. Consequently, the present review recognised the knowledge gaps to offer a new perspective on risk identifications in the context of building adaptive reuse in Malaysia.
THE IMPACT OF COVID-19 PANDEMIC ON OCCUPANCY RATES IN KLUANG MALL COMMERCIAL CENTRE
The Malaysian economy experienced negative growth in the retail industry during the COVID-19 pandemic. The widespread transmission of COVID-19 had impacted local companies and businesses in loss of businesses in the retail segment, the decrease in occupancy rates as reported by the Department of Statistics Malaysia (DoSM), and retail marketing strategy in the time of crisis. This paper aims to study the impact of the COVID-19 pandemic on occupancy rates and to identify the main factors influencing occupancy rate performance in Kluang Mall during the pandemic season. This study adopted a qualitative research approach throughout the research process. The results were based on the interview conducted at Kluang Mall Commercial Centre which is located in Kluang, Johor. Three (3) officers who are part of the management team were interviewed online as representatives of Kluang Mall Commercial Centre. The interview session discovered that the COVID-19 pandemic did not impact the occupancy rates of the Kluang Mall as the percentage remains the same as the previous period prior to the pandemic. The factors that contributed to the occupancy rate performance were the sales performance and the current marketing strategy applied by the management of the mall during the pandemic. Thus, it is hoped that these findings would assist retailers to improve their business performance, especially during the pandemic, and assist the Kluang Mall management team in managing retailers.
Copyright (c) 2022 International Journal of Property Sciences (E-ISSN: 2229-8568)
IMPLEMENTING COVID-19 STANDARD OPERATION PROCEDURE (SOP) IN MALAYSIA CONSTRUCTION INDUSTRY: CHALLENGES AND STRATEGIES
The COVID-19 disease has impacted the performance of all industries, including the construction industry. In order to curb the spread of the disease, the government has conducted Movement Control Order (MCO). Consequently, a construction project is not allowed to be operated unless the implementation of the new SOP aims to curb the spread of COVID-19 disease among workers on the construction site. The operation of the construction site has resulted in new clusters of COVID-19 in the early phase of the outbreak which led to the project shut down. The objective of this study is to identify the challenges of implementation of SOP during the outbreak of COVID-19 from the contractor’s perspective and to suggest a solution for controlling the effects of the COVID-19 outbreak at the construction site. In collecting data and responses from the respondents, interviews were held through the telephone conversation and video conferencing with nine (9) contractors in Cheras, Kuala Lumpur. The selection was made through the purposive sampling technique in which the contractors were selected from the contractor listing on the Malaysian Construction Industry Development Board (CIDB) website. Content analysis is used to identify the main challenges. Results from interviews found four (4) challenges faced by contractors and five (5) solutions for mitigating the effect of an outbreak. The challenges include wearing face masks, maintaining social distancing, securing authority approval letter, and restriction of workers’ numbers. On the other hand, the solutions that are highlighted include proper planning and scheduling, complying with COVID-19 standard operating procedures (SOP), controlling the movement of workers, providing all workers’ vaccination, and conducting regular COVID-19 tests. These findings have shown that having SOP for COVID-19 has posed challenges to the activities on the construction sites. As such, the findings intend to increase the awareness among construction companies on the challenges towards the implementation of the best practices to overcome these challenges.
THE CONCEPTUAL FRAMEWORK TO INTEGRATE SUSTAINABILITY IN URBAN REGENERATION INITIATIVES
Urban regeneration has become an essential spatial strategy to resolve urban decay issues in many countries and regions which is in line with the ‘2030 Agenda for Sustainable Development to build sustainable cities and communities worldwide. Although urban regeneration is the desired solution for deprived cities, not all are successful in following the sustainable development path as more emphasis is on economic objectives over the environment and social sustainability. Thus, this study presents the conceptual framework that integrates sustainable development aspirations in the urban regeneration practice as the way forward. A qualitative method (content analysis approach) is adopted in this study by reviewing current and past studies on sustainable urban regeneration, using Mendeley as the search engine and ATLAS.ti for analysing. Findings from the literature review identified fundamental criteria and indicators of sustainable urban regeneration according to the three dimensions of sustainable development. A strategic approach to achieving sustainable urban regeneration is also identified which indicates that planning and social sub-systems are the crucial components or the enablers that integrate sustainability in urban regeneration initiatives. This study concluded that urban regeneration could be the solution to resolve urban decay and build sustainable cities if the town planning and social sub-system are incorporated appropriately within the sustainable urban regeneration framework.
ASSESSMENT OF OPERATION AND MAINTENANCE PRACTICES IN FACILITIES MANAGEMENT OF OFFICE BUILDINGS IN LAGOS, NIGERIA
The development of facility management (FM) in Nigeria is relatively new and limited in scope although it has been introduced for more than four decades. This study attempts to assess the operation and maintenance practices in the FM of office buildings from the Nigeria context, aimed to address issues concerning activities of operation and maintenance. It also intends to reveal the adoption of FM techniques and associated challenges in the office buildings in Lagos., Nigeria. A total of 216 members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) were sampled using purposive sampling techniques and their responses were analysed by descriptive statistics such as weighted mean score (WMS), severity index (S.I), and Kruskal-Wallis H test (KWT). The study found that the major FM activities that are mostly engaged include space management, power plant/electricity maintenance, waste management, lift maintenance, general cleaning services, routine maintenance, and water management. While the preferred FM technique is a blended approach (both the preventive and the corrective methods). The prominent challenges in their respective categories were design flaws and poor installation of equipment (technical); inconsistency in financing maintenance, and high cost of maintenance components (finance); weak standards and poor enforcement (administrative), indifferent attitude towards maintenance issues, wrong perception and lack of foresight (top management). The study concluded that the operations of the FM practice are still in their infancy stage and characterised by prominent challenges of technical, administrative, and finance. However, being a multi-disciplinary profession, the study suggests efficient collaborative effort can be strengthened by an institutional framework that encourages human capacity development and enhanced technology to foster sustainable facilities management practice in the country.
A REVIEW ON SMART CAMPUS CONCEPT AND APPLICATION TOWARDS ENHANCING CAMPUS USERS’ LEARNING EXPERIENCES
The smart campus is an emerging trend that allows universities to improved services, decision making and campus sustainability. The recent pandemic has directed and amplified the need for a paradigm shift, with predominant virtual teaching, and remote working bursting onto the scene. As an educational institution, understanding campus user’s learning experience is vital in the process of assessing and ensuring quality university studies. Therefore, this study provides a review of smart campus concept, application and potential opportunities that emerge in the smart campus towards enhancing campus users’ learning experiences. To achieve the purpose of the study, a systematic literature review has been conducted extracted from the Scopus database. Initially, 19 articles were gathered. After the screening process using the inclusion and exclusion criteria, 16 articles were screened and finally, 11 articles were included in the review. This study found that smart campus is an integral concept that needs to be developed and applied in universities. Besides that, several potential opportunities emerging from the smart campus application such as the application of augmented reality and virtual reality in facilitating the learning process, the exploration of daily internet traffic that enables traffic forecasting to improve network service and personalised services. Thus, this study helps to explore the potential fields of employing smart campus especially in the learning process among community campus.
Copyright (c) 2021 International Journal of Property Sciences (E-ISSN: 2229-8568)
A DYNAMIC RELATIONSHIP BETWEEN CONSUMER CONFIDENCE AND RESIDENTIAL PROPERTY PRICE: EMPIRICAL EVIDENCE FOR MALAYSIA
In recent years, the real estate market has become a major interest for economists and researchers. In general, property prices are influenced by the supply and demand of the real estate market. In addition to the individual's positive expectation of the real estate market would raise the demand for housing and hence, house price indexes would increase. This study provides new knowledge on how consumer confidence in the housing industry affects residential property prices in Malaysia. Previous studies on the effect of consumer perception towards residential property in Malaysia are scarce. Therefore, the objective of this study is to determine how consumer confidence affect residential property price in Malaysia. Our study differs by focusing on the effect of consumer confidence on the housing industry and macroeconomic drivers toward residential property prices in Malaysia over the period 2004:Q1 to 2018:Q4. By using the autoregressive distributed lag (ARDL) test, the empirical results have shown the presence of long-run adjustment and indicate that consumer confidence towards the housing industry and many macroeconomic variables significantly affect residential property prices. From this finding, we have suggested that government and policymakers should be able to understand consumer confidence in the housing industry to increase consumer satisfaction and to improve consumer sentiment towards the residential property market in Malaysia.
ASSESSMENT OF ICT USAGE IN ESTATE SURVEYING AND VALUATION PRACTICE IN NIGERIA
To operate in a dynamic environment, the success of real estate companies’ hinges, to a large extent, on their ability to deliver innovative, user-accepted products and services in a timely, seamless manner. The need for Information and Communication Technology (ICT) for secure, safe, and adequately serviced estate surveying and valuation practice is very pertinent to the profession. Therefore, this study assessed the level of usage of ICT in estate surveying and valuation practice in the study area with the view of improving real estate service delivery in Lagos Island, Nigeria. Data were gathered through a survey conducted with registered estate firms in Lagos Island, Nigeria. The data from the responses that were gathered were analysed using descriptive statistics and Relative Importance Index (RII) ranking. Findings revealed that the majority of the respondents are adopting ICT in carrying out their estate surveying and valuation practice. In addition, the results of the study established a positive correlation between improving estate surveying practice and the adoption of ICT. Furthermore, the findings also revealed the level of conversant with the use of real estate software has the highest RII while Artificial Intelligence software has the lowest RII. The study concluded that it is without a doubt that the degree of application of ICT in real estate has been very significant, but there are still barriers that limit its application within the sector. The study recommends that the estate surveyors & valuers in academia who are responsible for coaching core departmental courses include ICT into several aspects of the curriculum.
A CRITICAL EXAMINATION OF LAND COST ELEMENTS ON PRIVATE HOUSING DEVELOPMENT IN AWORI LAND, OGUN STATE, NIGERIA. A CASE OF ADO/ODO-OTA LGA.
This study examines the cost elements associated with land acquisition and development and the effect it has on public housing development using Awori land in Ado/Odo-Ota LGA in Ogun state, Nigeria, as a case study. To achieve this, a survey was administered to estate surveyors & valuers and officers of the Bureau of Lands and Survey who are involved in property developments. The findings revealed that land registration cost, lease cost, deeds of assignment were ranked as important. It is also found that there is also a significant relationship between land cost elements and rate of housing development. The study further revealed that there is a positive relationship between the land cost elements and the rate of housing development. In conclusion, this implies that an increase in one of the land cost elements will affect housing development.
EXAMINING THE RELATIONSHIP BETWEEN FOREIGN PURCHASE LIBERALISATION AND HOUSING AFFORDABILITY
This study attempts to examine the relationship between liberalisation of foreign purchase of properties and housing affordability in the presence of foreign direct investment (FDI) inflows. The negative relationship between liberalisation and affordability has caused dissatisfaction among Malaysians as house price has increased drastically since the government liberalise the foreign purchase of property. While Malaysia continues to receive FDI inflows which have been the engine for the country’s economic growth, it would be appropriate to examine the relationships between the liberalisation of purchase for properties by foreigners and the housing affordability within this context. Utilising the Johansen Cointegration method, this research analysed the long-term relationship of liberalisation of foreign purchase within the property sector and affordability of terrace houses. Through the use of the Channel method, this research also examines the role of FDI in the relationship.
Copyright (c) 2020 International Journal of Property Sciences (E-ISSN: 2229-8568)
ASSESSMENT OF HOUSING ATTRIBUTES TOWARDS NEIGHBOURHOOD SATISFACTION IN THE KLANG VALLEY
Housing has always been one of the major issues that affect peoples’ quality of life, especially in the urban area. The increased number of population in urban area led to an increase in housing demand in the market. Neighbourhood satisfaction is an important factor of housing demand in urban areas. The objective of this study is to assess the relationship between housing attributes and neighbourhood satisfaction in the Klang Valley, Malaysia. Primary data collection through survey on 500 respondents was undertaken and analysed using SPSS and Structural Equation Modelling. The findings revealed that there is positive and significant relationship between housing attributes and neighbourhood satisfaction. The implication of this study found that housing attributes are noteworthy determinants in assessing the significance of neighbourhood satisfaction. The result of this study would assist policy making in proposing actual improvement in sustainable development in neighbourhood area and enhance on the improvement on the housing attributes that focus on providing more affordable housing and housing choice in the Klang Valley.
OCCUPANTS’ SATISFACTION OF SERVICED APARTMENTS DESIGN : CASE STUDIES IN KUALA LUMPUR
This paper aims to identify the factors that affect a good serviced apartment design by looking at three (3) parameters which are physical attributes, social needs, and facilities and services through the occupants’ satisfaction levels. Despite the increasing number of serviced apartment developments in Malaysia, there has been limited research to analyse occupants’ wellness and satisfaction in a serviced apartment to generate a model to guide the service apartments’ design and development. The research is conducted using multiple case studies methods through physical observation and questionnaire surveys based on the three (3) parameters mentioned above at the golden triangle area of Kuala Lumpur among three case studies that have been identified. The findings reveal that occupants are generally satisfied with serviced apartments in Malaysia; however, various key components need to be reassessed and improved for future developments in order to serve as a reference for local authorities, developers, and designers to design serviced apartments in the local context from occupant’s perspective.
BUILDING INFORMATION MODELING (BIM) CONTRIBUTION TOWARDS SUSTAINABILITY: AWARENESS OF MALAYSIAN CONTRACTORS
Building Information Modelling (BIM) has become an attention-grabbing topic among researchers and industry players around the world including Malaysia. As the construction industry always plaguing with issues related to massive waste generated from construction and demolition process, encouraging BIM implementation is considered as one of the available technology-based alternatives to encounter these issues. BIM is a type of technology that offers the development of construction project before the real construction process, which allows the identification of any issues earlier, throughout the design and planning phases. Currently, numerous researches have been focusing on the benefits offered by BIM to the construction industry. However, there are still several construction players who lack awareness of BIM's contribution, especially towards sustainability. The purpose of this paper is to explore the awareness of contractors in Malaysia on the contribution of BIM towards sustainability, namely economic, environmental and social. A total of 133 contractors from grade G1 to G7 were involved in a survey. The results revealed that majority of the respondents were aware on BIM contributions towards environmental sustainability, besides other two sustainability pillars, economic and social. Thereby, there is a need to educate and provide realistic information to the construction industry stakeholders, as a process to create a better understanding and wider exposure, and to convince them to implement BIM technology.
NON-PERFORMING PROPERTY LOANS AND ITS ORIGINATION IN THE REAL ESTATE FINANCE SYSTEM: CASE STUDY OF MALAYSIA
A healthy real estate finance system is crucial for any economy to grow and thrive. However, in recent years, the sustainability and soundness of the Malaysian Real Estate Finance System had been in question as the number of non-performing property loans had been on the rise. This paper looks into how property NPLs originate within the real estate finance system in Malaysia and its current performance in Malaysia. A descriptive research design was conducted utilizing in-depth case studies of Malaysia to examine Malaysia’s real estate finance system consisting of loan originators in the primary market and the special purpose vehicle involved at the secondary mortgage market where it was found that the Malaysian Real Estate Finance System is efficiently developed and on par with other developed countries with a robust primary mortgage market, effective secondary mortgage market and a vibrant capital market. Further analysis found that there are a total of 57 financial institutions that are property loan originators in Malaysia that consists of 26 Commercial Banks, 16 Islamic Banks, 2 International Islamic Banks, 11 Investment Banks, and 2 Special Financial Institutions. In terms of NPLs in Malaysia, property loans are the largest component of total NPLs in the country, and subsequent analysis found that the number of property NPLs in the country had been rising since 2015, after a long decade decline. This study warrants further research into the causes of property NPLs in the country so that the causes of property NPLs can be monitored as part of the country's strategic monetary policy to control and reduce the number of property NPLs in the country. Ultimately, this also helps to contribute towards a sound and robust real estate finance system in Malaysia.