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Technical University of Crete
Technical University of Crete
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| URI: | http://purl.tuc.gr/dl/dias/B12B6F3A-A192-416F-A72E-3374DF79E707 | ||
| Year | 2019 | ||
| Type of Item | Diploma Work | ||
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| Bibliographic Citation | Konstantinos Stefanakis, "Multicriteria evaluation of investments in business real estate projects", Diploma Work, School of Production Engineering and Management, Technical University of Crete, Chania, Greece, 2019 https://doi.org/10.26233/heallink.tuc.83418 | ||
| Appears in Collections |
Main charter of this thesis is to create a "tool" aimed at ranking a group of business offices, a subcategory of commercial property Real Estate, located in the U.S., based on their economic performance in the view of a potential investor. In order to better understand the structure of this research, any issues dealing with this goal is going to be divided into three individual basic sections.Initially, the first section deals with the theoretical analysis of different aspects of investment in commercial properties. Recognizing the cyclical course of the financial performance of this investment sector, it initially presents a historical flashback of its performance in the US in the period of 1970-1990. This section was considered crucial as it is linked to the extraction of critical information, important to have a better intuition regarding the course of an investment in commercial property which therefore leads to the help of avoiding past mistakes. Continuing an attempt is made to analyze the current situation of the sector, while clarifying certain key concepts that affect economic performance. After the appropriate historical analysis, the explanation of terms associated with the notions of risk, earnings but also types of investing in commercial real estate follow. Having already made a reference to the types of investment as well as earnings and the dangers they pose, the various components that comprise the subject analysis type of investment are shown. Completing the theoretical analysis, both the macroeconomic and the microeconomic environment of investment type in question are defined.The second section refers to the analysis of the method in use, which will be utilized in order for the classification of the sample, with which this diplomatic thesis deals, to be made. This method is called ELECTRE III and is used as a multi-criteria analysis tool.The basic structure of this thesis is concluded at the third section, in which both the utilization of the contents in the previous two sections and the analysis of the sample, the criteria- under which the ranking of business offices is based- are set. Moreover, these criteria are divided into categories according to the nature and level of their influence. After completing the collection of the criteria and their weights, which are meant to be used during the application of the method, and after specifying the necessary preference (p), indifference (q) and veto (v) thresholds, the sample is classified. Lastly, it should be noted that the classification of the Group RMC’s commercial offices was quite satisfactory, judging by the already existing portfolios’ yields.
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