Abstract
A novel analysis approach to support real estate developers in making decision to deal with potential
risks in each project development stage is introduced in this paper. The analysis model applied in this research
is a multi-criteria approach, based on Analytic Network Process (ANP) theory. Risk assessment criteria to
accomplish the ANP calculation are defined based on both literature review and related experience, against
Social, Technological, Economic, Environmental and Political (STEEP) requirements of the real estate development
in order to assess the risks in this business effectively. A case study of a residential and commercial
mixed-use project in Liverpool City Centre was used to demonstrate the effectiveness of the ANP model. The
result of an initial case study revealed that ANP is an effective tool to support developers in making decision
based on risks assessment. It was found through this study that the established ANP model is effective and can
be adopted by real estate developers to suit for the business needs.
risks in each project development stage is introduced in this paper. The analysis model applied in this research
is a multi-criteria approach, based on Analytic Network Process (ANP) theory. Risk assessment criteria to
accomplish the ANP calculation are defined based on both literature review and related experience, against
Social, Technological, Economic, Environmental and Political (STEEP) requirements of the real estate development
in order to assess the risks in this business effectively. A case study of a residential and commercial
mixed-use project in Liverpool City Centre was used to demonstrate the effectiveness of the ANP model. The
result of an initial case study revealed that ANP is an effective tool to support developers in making decision
based on risks assessment. It was found through this study that the established ANP model is effective and can
be adopted by real estate developers to suit for the business needs.
| Original language | English |
|---|---|
| Pages (from-to) | 103-116 |
| Number of pages | 14 |
| Journal | Journal of Architecture/Planning Research and Studies |
| Volume | 7 |
| Issue number | 1 |
| Publication status | Published - 2010 |
Keywords
- Risk assessment
- Real estate
- Sustainable construction