STRATEGIES FOR OPTIMIZING THE EXECUTION OF REAL ESTATE PROJECTS: APPLICATION TO THE REHABILITATION OF BUILDINGS IN UNFORESEEN SCENARIOS
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Abstract
The asset management activity, in what regards the rehabilitation of buildings, has been increasing its relevance in the Portuguese economy, although this investment involves risks. In addition, the decision-making process on these investments is complex and requires reliability analyses. The present paper develops strategies for optimizing the execution of real estate projects, through the definition, organization and structuring of a methodology to support decision-making. It considers the analysis of several fundamental phases, namely: business plan and feasibility studies; technical, legal, and financial due diligences; financing; negotiation and acquisition process; licensing project and execution project; tender process; stages of the construction work; marketing plan and sales strategy. This methodology is applied to a case study related to a building rehabilitation. A strategy is explored with a view to optimizing the execution of the real estate project with large constraints. The unforeseen events related to the pandemic times that have occurred in recent years should be highlighted, and which have had a considerable impact in terms of price increase and shortages of materials, equipment’s, and manpower.
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