- Title
- Property development: a framework for on-time delivery
- Creator
- Mkhwe, Tandokazi Lerato
- Subject
- Real estate development -- South Africa
- Subject
- Project management -- South Africa Time management Financial statements -- Standards -- South Africa
- Date Issued
- 2019
- Date
- 2019
- Type
- Thesis
- Type
- Masters
- Type
- MSc
- Identifier
- http://hdl.handle.net/10948/41084
- Identifier
- vital:36294
- Description
- Property development is a complex process and is considered to be highly risky. The Global Financial Crisis (GFC) in 2009 had a negative impact on property due to various factors such as: increased interest rates; increase of stricter mortgage bond approvals; the recession and other possible financial regulatory factors. Property development plays a major role in the Gross Domestic Product (GFC)) of global economies worldwide, as well as in South Africa and changes in the supply and demand value of property impacts the performance of the property market. Thus, property development and real estate are one of the largest suppliers of employment. Property development entrepreneurs lack the project management skills to manage projects. In this study the related literature was reviewed and an empirical study was conducted. The empirical study was conducted using a quantitative statistical approach, by distributing research questionnaires to members falling within the sample population. The primary objective of the study was to develop a framework for perceived on-time delivery of property development projects. A descriptive survey was conducted among professionals in the property industry, and property development practitioners within South Africa. The findings suggest that the following variables influence the perceived ontime delivery of property development projects: Delays and disruptions, poor workmanship, PESTEL (political, economic, social, technological, legal and environmental) factors, shortfalls in full mortgage bond approval, town planning regulations, and the prevalence of a project management, framework amongst property developers, real-estate agencies and conveyancers. Furthermore, the following variables were identified in the empirical framework affecting the perceived on-time delivery of property development projects: PESTEL namely; Political Factors, Economical Factors, Social Factors, Technological Factors, Environmental Factors and Legal Factors. This study contributed to the South African property development body of knowledge, by determining the factors influencing the completion of property development projects, and on developing a framework for successful implementation of property development projects.
- Format
- xv, 157 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Engineering Built Environment and Information Technology
- Language
- English
- Rights
- Nelson Mandela University
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