3. Electronic Theses and Dissertations (ETDs) - All submissions

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Subject: search.filters.subject.Real estate management--South Africa

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    Corporate real estate management: a survey of the South African entertainment & media companies
    (2017) Selamolela, Matla
    Purpose- The main objective of this study was to determine a particular knowledge and skill of the senior management of the South African entertainment and media industry towards corporate real estate management. [Abbreviated Abstract. Open document to view full version]
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    Investigation into Corporate Real Estate Management (CREM) practices within South African non-real estate organisations
    (2017) Maetle, Tshegofatso Phineas
    The purpose of this research report was to introduce evidence on executive attitudes towards Corporate Real Estate Management (CREM) practices and value adds in South African nonreal estate companies. This research report sought evidence on how South African non-real estate companies manage their Corporate Real Estate assets in line with their quest to achieve their organisations’ overall corporate strategies. Online questionnaires and surveys with both CRE experts and other CRE executives have been conducted to get the most representative view in terms of current practices related to Corporate Real Estate Management. Several organisations that are part of the survey have property portfolio of over buildings either owned or leased by them. However, it appears respondent organisations do not seem to put adequate emphasis of employing people with requisite real estate academic qualifications to manage their real estate portfolio. Even though over 70% of organisations indicated that they have a formally organised real estate unit or person responsible for managing real estate portfolio, the functions of these units do not match the standard functions identified in the literature i.e. Facilities Management, Property Management, Acquisitions & Disposals as well as Development. For 70% of organisations the CRE accounting officer is sitting at the level of Chief Financial Officer as well as National Manager. This research paper provides in-depth and evidence-based assessment of how senior executives monitor CREM practices and how they treat CRE within their non-real estate organisations in South Africa. The report also brings to light the executive attitude and understanding of variables that determines the value adds of CREM to their organisations’ overall corporate strategy. Executives should review whether their attitudes towards the management of CRE assets contribute in maximising the value these assets towards achieving the overall corporation’s strategic objectives.
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    The financing of corporate real estate acquisition, a South African study
    (2017) Avivi, Rami
    The purpose of this study is to fill specific gaps in the existing body of knowledge of South African corporate real estate management by investigating the determinants influencing the lease versus buy decision; the methods and financing sources of corporate real estate acquisition; and the criteria used in deciding on the financing technique for corporate real estate acquisition. The research followed a similar methodology to that of Redman and Tanner (1991) in their study “The Financing of Corporate Real Estate: A Survey”. However, it specifically focused on the South African corporate real estate environment. The data collection instrument was an online survey and the survey produced quantitative descriptions of certain aspects of the population. The population for the research was corporate real estate decision makers of leading South African companies. The data captured was presented through the aid of tables, charts and graphs. The data was further analysed through cross tabulations and hypothesis testing using the Chi Squared test of independence to determine significance of results. South African firms use some form of leasing (mainly long term leasing) in acquiring their corporate real estate. However, ownership is also a common form of real estate acquisition through the use of mortgages secured by the acquired property, mortgage backed securities and sale of unsecured bonds. The decision criteria for acquisition includes both financial and non-financial determinants. Financial analysis is also an important factor in analysing the lease versus buy decision. This is mainly done by comparing the undiscounted cash flow of leasing versus buying. Where a discounting approach of evaluation is used, the most favoured discount rates include the weighted average cost of capital and rate of return on new investments. Mostly outscored professional services are used when making the lease versus buy decision. The benefit of this study was to understand the factors influencing the corporate real estate decision making process and to provide a corporate real estate decision makers with a decisional framework when determining the form or real estate tenure. Future studies should attempt to secure better response rate to allow for robustness of results and other methodologies of analysis.
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    Methods of providing corporate real estate management services: an overview of South African corporations
    (2015-05-14) Maluleke, Rirhandzu Lerato
    The purpose of the study was to investigate ways of providing corporate real estate management services in the South African context. The data collection process started with a pilot study using a questionnaire. A qualitative approach was used with semi-structured interviews of six Corporate Real Estate managers from companies of various industries in Johannesburg in March 2014. The larger organizations prefer to have a formalized Corporate Real Estate unit that is situated at headquarters and have no links with core business. These companies refer to their corporate real estate units as facilities management, property management and workplace management, the actual term “corporate real estate” is not used in South Africa. The companies that have the formalized Corporate Real Estate units own their Corporate Real Estate or are triple net leasing their Corporate Real Estate. Respondent companies prefer to manage strategic aspects in-house and outsource the operational activities, because real estate is not their core business. Some of the respondents did not experience challenges with either outsourcing or in-house management. Respondents that experienced challenges with outsourcing had problems with performance issues, lack of knowledge and experience by service providers, the quality of the service and the lack of performance measurement tools. The challenges experienced with managing in-house included performance issues, lack of accountability from internal staff, lack of flexibility, and lack of skill and experience on the part of internal staff. South African practice may appear to match international best practice; however, more studies might be needed to validate the results. Key words: South Africa, corporate real estate management, outsourcing, in-house management
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