Academic Journal
Real option and vertical mixed-use development
| العنوان: | Real option and vertical mixed-use development |
|---|---|
| المؤلفون: | Jiawei Zhong, Eddie C. M. Hui |
| المصدر: | International Journal of Strategic Property Management, Vol 25, Iss 5, Pp 382–395-382–395 (2021) |
| بيانات النشر: | Vilnius Gediminas Technical University |
| سنة النشر: | 2021 |
| المجموعة: | Directory of Open Access Journals: DOAJ Articles |
| مصطلحات موضوعية: | vertical, mixed-use development, real option, height premium, Management. Industrial management, HD28-70, Finance, HG1-9999 |
| الوصف: | Vertical mixed-use development is a favourite choice in urban development in high-density Asian cities to increase the land use efficiency. The flexibility of construction timing and the restrictions by lease contracts in vertical mixeduse projects are usually different from horizontal ones and single-use properties. To improve the valuation for vertical mixed-use projects, this study re-examines the real option pricing model. Simultaneous development for different uses and a finite maximum waiting period are the major characteristics of these projects. An approach is introduced to determine whether to develop a mixed-use project vertically or horizontally on the basis of a statistics called the critical height premium. The vertical mixed-use project pricing model can be further verified by containing a height premium if market price information is derived from non-vertical mixed-use properties. This study suggests a more comprehensive real option approach to quantify the advantages and disadvantages of operating vertical mixed-use developments. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| تدمد: | 1648-715X 1648-9179 |
| Relation: | https://journals.vgtu.lt/index.php/IJSPM/article/view/15059; https://doaj.org/toc/1648-715X; https://doaj.org/toc/1648-9179; https://doaj.org/article/d66ecd0ad2604345a5a89cdeff6fb4dd |
| DOI: | 10.3846/ijspm.2021.15059 |
| الاتاحة: | https://doi.org/10.3846/ijspm.2021.15059 https://doaj.org/article/d66ecd0ad2604345a5a89cdeff6fb4dd |
| رقم الانضمام: | edsbas.61D37FB2 |
| قاعدة البيانات: | BASE |
Full Text Finder | تدمد: | 1648715X 16489179 |
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| DOI: | 10.3846/ijspm.2021.15059 |