PurposeThe purpose of this study is to see how a more developed discipline – corporate real estate management (CREM) – can add value to a less developed discipline – municipal real estate management (MREM) – to contribute to their professionalisation. Design/methodology/approachEvery year since 2008 (except for 2013), municipalities have been asked to complete a questionnaire on how they manage their real estate. With these results, it is possible to perform quantitative analyses on both trends and the current situation. In addition, municipalities’ descriptions of their real estate management have been analysed in a qualitative way. FindingsMunicipalities are concentrating their real estate tasks in the municipal organisation to link their real estate, their policies and the citizens/tenants. Remarkable is the diversity of the functions and the broad definition of “the real estate employee” (organisational structure). Municipalities make strategic and organisational changes that aim to improve both the real estate portfolio and the municipal organisation (operations). The next years, municipalities will focus in particular on vacancy rates, organisation design, collaboration, ownership and the sustainability of the portfolio (direction). Originality/valueQualitative and quantitative research are combined to compare theory with practice on CREM and MREM. The results contribute to the professionalisation of Dutch municipalities.
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The value of the public real estate portfolio is estimated to exceed the biggest Dutchprivate investor ten times. In spite of its importance, it seems that this municipal real estate is not always managed in a professional way. This paper is about how a more developed and researched discipline – corporate real estate management (CREM) – can add value to a less developed and researched discipline – municipal real estate management (MREM) – to contribute to their professionalisation.
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Purpose: Board members and real estate managers (decision makers) play an important role in the decision-making process in nursing home organisations. This study aims to provide an understanding of underlying attributes and benefits sought by decision makers when making nursing home real estate decisions. Design/methodology/approach: Decision makers from seven different nursing home organisations in The Netherlands were interviewed using the laddering technique to determine the individual requirements, the considerations of the decision alternatives, the relevant attributes and benefits and their mutual relationships. Findings: This study details the motivations behind real estate management decisions in nursing home organisations. The findings show that apart from financial considerations, decision makers strive to enhance the quality of life and satisfaction of users with their real estate decisions and seek to include residents and employees in the process. These benefits are connected to the goals of well-being and innovation in health care. Furthermore, functionality, physical and functional flexibility and technology are key considerations when undertaking corporate real estate (CRE) decisions, to ensure that real estate management aligns with the strategic goals of the nursing home organisation. Practical implications: The insights of this study can support decision makers in healthcare facilities to create strategic value with their real estate. Understanding how to obtain certain benefits from nursing home real estate may result in a better realisation of organisational objectives and user needs. Originality/value: This study reveals the decision-making process in a nursing home context. Moreover, the laddering technique is used as a new method to explore and gain a deep understanding of CRE decision-making processes.
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2007, the Ministry of Housing and Spatial Planning took the initiative to issue the social building blocks: real estate for facilities. This has been the first attempt to deal with social real estate professionally as an asset. In 2008 the professorship of public real estate started with its first Barometer for Social Real Estate. In 2009, I advocated in Real Estate Magazine that research into social real estate is necessary from the perspective of Corporate Real Estate Management (CREM) through new development models and more (PhD) research.In anticipation of the municipal elections of 2010, research by the research group Municipal Real Estate showed that social real estate was not a matter for the election programs of the political parties. This was a prelude to the funded RAAK subsidy application towards marketed municipal real estate for carrying out practice-oriented research. In 2012, this research led to the externally funded research group Social Real Estate. After that, the Social Real Estate professorship profiled itself in different areas. Extra media publicity has been generated primarily thanks to the attention of minister Stef Blok in 2014, when he received the first copy of the book Barometer Maatschappelijk Vastgoed (Social Real Estate): Corporate Social Responsibility at our annual congress, the round table meeting with State Secretary for Health, Welfare and Sport Martin van Rijn in 2015 and the informal conversation with the Minister of Education, Culture and Science Jet Bussemaker in 2015, as well as the many publications of the lectorate. In the 2016 debate with civil society with the Prime Minister Mark Rutte when handing over the book Barometer Maatschappelijk Vastgoed (Social Real Estate) 2016, a round table meeting in 2017 with Minister of Home Affairs and Kingdom Relations Stef Blok, aldermen and directors Real Estate of Municipalities in The Netherlands, have contributed to social and economic knowledge utilization for future and existing real estate professionals. At the PROVADA 2017 we co-organized ‘Shrink: Emptiness and Space for Innovation and Change’ session, where the Minister of the Home Affairs and Kingdom Relations Ronald Plasterk presented his vision on this subject.
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Lectorale Rede. Een op waarden gebaseerde vastgoedstrategie stelt de onderneming in staat een competitieve strategie aan te gaan.De rode draad in het curriculum vitae van Jan Veuger (1966) is strategisch management van (maatschappelijk) vastgoed in het bedrijfsleven en de corporatiesector. Jan ronde zijn studie Master of Real Estate (MRE) in 2006 af op een onderzoek over governance van een woningcorporatie en samenhang van (kwaliteits)instrumenten. Hij is daarmee onderscheiden als beste student MRE in 2006. Jan is directeur van CORPORATE © Real Estate management, lector Maatschappelijk Vastgoed Kenniscentrum NoorderRuimte Hanzehogeschool Groningen, lid Committee of quality certificates (CKV) bij Kwaliteitscentrum Woningcorporaties Huursector (KWH), toezichthouder bij vier verschillende regionale maatschappelijke organisaties (130 tot 2000 werknemers) op het gebied van onderwijs, jeugd- en ouderenzorg. Verder is Jan visitator, voorzitter stichting Kwaliteit Ontwikkeling Verbetering Onderhoudsbedrijven Nederland (KOVON), Fellow of the Royal Institution of Chartered Surveyors (RICS), auteur van 7 boek(del)en, 33 artikelen, 4 syllabi en 49 (onderzoeks)rapporten.
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This thesis provides an examination of judgement autonomy of Dutch commercial real estate valuers in relation to client orientation. The valuation of commercial real estate such as offices or retail properties requires in-depth analysis due to its uniqueness by location, building type and usage details. Essentially, a register-valuer is qualified and instructed to assess a property value to one’s best cognitive effort and inform others of this outcome by means of a valuation report. In the Netherlands, concerns over independence risks and client-related judgement risks of valuers have been raised by regulative authorities as the Dutch Central Bank (DNB) and the Dutch Authority for the Financial Markets (AFM). A significant part of these concerns followed the 2008 financial crisis, which appeared to be at least partially driven by unreliable and incomparable valuations of Dutch commercial real estate (AFM, 2014; DNB, 2012; 2015). Among other things, these concerns led to the instigation of the Nederlands Register Vastgoed Taxateurs (NRVT) in 2015. NRVT is a new Dutch central register of valuation practitioners set up in order to improve self-regulation, quality control and compliance of valuation practitioners. Currently, the chamber for commercial real estate valuation holds about 2,000 commercial valuation registrations (NRVT, 2020). The introduction of NRVT, and other measures taken, reflect an instrumental view towards enhancing professionalism of Dutch valuers. This view is based on a systematic orientation to professional conduct in which good practice is primarily objectively determined (Van Ewijk, 2019). However, Wassink and Bakker (2016) point out that individuals make personal choices in order to deal with work complexity. Insight into and reflection on individual choices is part of what is referred to as normative aspects of professionalisation: what norms prevail in individual judgement and decision-making and why (Van Ewijk, 2019). In this regard, insight into judgement reasoning of valuation practitioners may contribute to normative levels of professional development of valuers. The need for such is expressed through community concerns over how individual judgement autonomy may become subdued due to instrumental-driven developments taking place in the sector. The combination of authoritative concerns over professional quality in the Netherlands and lack of (scientific) insight on how client influence affects judgement in valuation practice poses a problem: How may practitioners address client-related judgement bias risks and improve valuation accuracy from this viewpoint, if little is known on how such risks may occur in daily practice? The seemingly scarce scientific insights available in this regard in the Netherlands may also prevent educational programs to adequately address valuer independence and objectivity risks in relevant training programs. In order to address this knowledge gap, the present PhD research examines the following research problem: 169 Summary “How does client orientation affect professional judgement autonomy of commercial real estate valuers in the Netherlands?” The term ‘client orientation’ should be broadly interpreted and may refer to valuers’ perception, understanding and meaning given to alleged, actual or anticipated client-related aspects. Information on such client aspects is not required for the performance of valuation instructions. It should also be noted that this research examines the context of how client orientation may affect valuer judgement reasoning patterns during work practice, yet not its effect in terms of decision on final value opinion.
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Op welke manier wordt CREM door een aantal koplopers in dit vakgebied inhoudelijk en organisatorisch ingevuld en welke factoren, gerelateerd aan kenmerken van de organisatie en de vastgoedportefeuille, kunnen helpen de onderlinge verschillen te verklaren?Studentonderzoek in het kader van het thema Leefomgeving.
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This paper presents a new Value Adding Management (VAM) model that aims to support decision makers in identifying appropriate interventions in buildings, other facilities and services that add value to the organisation, to manage its implementation, and to measure the output and outcomes. The paper builds on value adding management theories and models that use the triplet input-throughput-output, a distinction between output, outcome and added value, and concepts, theories and data on the impact of interventions in corporate real estate and facility services, change management and performance measurement. Furthermore, input has been used from a cross-chapter analysis of a new book in which 23 authors from five different European countries present a state of the art of theory and research on 12 value parameters: satisfaction, image, culture, health and safety, productivity, adaptability, innovation, risk, cost, value of assets, sustainability and Corporate Social Responsibility. The new VAM model follows the steps from the well-known Plan-Do-Check-Act cycle, which are supported by various tools that were found in the literature or came to the fore in the state-of-the-art sections. In order to be able to select appropriate interventions in the Plan-phase, this paper includes a typology of typical interventions in corporate real estate and facility services that may add value to the organisation. The Check-phase is supported by an overview of ways to measure the 12 value parameters and related Key Performance Indicators. The new Value Adding Management model connects Corporate Real Estate Management (CREM) and Facilities Management (FM) with general business management in order to align CREM/FM interventions to the organizational context and organizational objectives. The VAM model opens the black box of input-throughput-output-outcome and is action oriented due to the connection to various management and measurement tools.
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Case study over de implementatie van een activiteitgerelateerd werkplekconcept bij GasTerra in het boek Corporate Real Estate Asset Management (2e editie).
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In het rapport dat voor u ligt zullen de resultaten te vinden zijn van het onderzoek naar de invulling van Corporate Real Estate Management van verschillende bedrijven. De aanleiding van dit onderzoek is, het verkrijgen van meer kennis op het gebied van CREM zodat een verdere professionaliseringmogelijk is. Om de juiste informatie te krijgen is de volgende onderzoeksvraag geformuleerd:‘Op welke manier wordt CREM door een aantal koplopers in dit vakgebied inhoudelijk en organisatorisch ingevuld en welke factoren, gerelateerd aan kenmerken van de organisatie en de vastgoedportefeuille, kunnen helpen de onderlinge verschillen te verklaren?’Deze onderzoeksvraag is te veel omvattend en daarom is hij onderverdeelt in drie deelvragen:1. Wat is de aard en de omvang van de betreffende organisatie? (organisatieprofiel?)2. Wat is de aard en de omvang van de vastgoedportefeuille van het betreffende bedrijf? (portefeuilleprofiel?)3. Wat is de wijze waarop CREM inhoudelijk en organisatorisch is ingevuld bij het betreffende bedrijf? (CREM-profiel)In het rapport zullen verschillende aspecten aanbod komen. In hoofdstuk twee wordt achtergrondinformatie gegeven over het onderwerp. Vervolgens wordt in hoofdstuk drie het probleem geformuleerd. Daarna zal in hoofdstuk vier onderzoeksmethode worden toegelicht. Vervolgens staan de resultaten van het onderzoek in hoofdstuk vijf. In hoofdstuk zes wordt vervolgens een interpretatie gegeven van de onderzoeksresultaten. In hoofdstuk zeven wordt er eenconclusie gevormd. Tot slot zal in hoofdstuk acht aanbevelingen worden gedaan voor eventueel vervolgonderzoek. Studentenonderzoek in het kader van het thema Leefomgeving.
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