Today’s stadiums face increasing competition from home-viewing options, powered by better camera angles and multiplatform, multimedia experiences. Concurrent with these trends is the increase in computing power and near ubiquity of the smartphone. These technological developments create new opportunities to measure real-time space use. The service or product that can measure (real-time) space use is called a ‘smart tool’. There are some studies about smart tools, but these are not focussing on the integration in stadiums. This resulted in the following research question that will be addressed in this research: which smart tools can be identified in stadiums, and how can the use of these smart tools be optimized? Due to this nascent character of the research topic qualitative research is conducted, whereby literature is reviewed in combination with an exploratory case study. The case that is studied is the Johan Cruijff Arena in Amsterdam, the stadium has the ambition to be the most innovative stadium by 2020. Based on the case study, nine different smart tools are identified, whereby the main goals of the tools are to reduce costs and to support user activities. Based on the outcomes of this research it can be concluded that the integration of smart tools in stadiums are in their ‘infancy’. From these nine smart tool projects, only five were in use at the moment of the research, the other four were still under development. As a result, concrete numbers of the effects of integrating of smart tools are missing. However, the current experience of integrating smart tools in stadiums did generate some valuable insights on how the use of the tools can be optimized by linking the findings to innovations from practice. Recommendations are provided to guide stadium managers in the effective management of smart tools. Lastly, the research stresses out the importance of future research on this topic

Cities coop with the problem of increasing demand for housing due to urbanisation, while trying to maintain and improve its attractiveness and city image. Improving attractiveness and the city image can be achieved by urban renewal. In Rotterdam, The National Programme Rotterdam-Zuid (NPRZ) was initiated to tackle the disadvantages and improve the quality of life in Rotterdam-Zuid (the worst neighbourhood of The Netherlands). An image and economic improvement was realised in Rotterdam-Zuid. However, too little residents of Rotterdam-Zuid did benefit from this economic improvement. More positive impacts in the area are necessary and urban renewal could improve these areas. However, urban renewal occurs at a too low pace. A positive impact for this process is necessary. An event can succeed in catalysing urban renewal, by strategically planning the event beforehand. As a result, the event can deliver hard and soft impacts on the area. After the Netherlands won the Eurovision Song Contest (ESC) in May 2019 in Tel Aviv, the city of Rotterdam was chosen as the host city of the ESC 2020 in Ahoy Rotterdam. Ahoy Rotterdam is located in Rotterdam-Zuid. This event could be an opportunity for Rotterdam to positively impact the renewal of Rotterdam-Zuid and indirectly improve the city’s attractiveness and image. The problem which this research tries to tackle is how to positively impact the urban renewal of Rotterdam-Zuid by strategically planning the Eurovision Song Contest 2020/2021. This research aims to explore and understand the benefits of hosting cultural events, like the Eurovision Song Contest, in relation to their contribution to urban renewal. Based on the defined problem, the following main question is formed for this research: “Which elements when hosting a cultural great event could positively impact and catalyse urban renewal?” To answer the main question a qualitative approach was chosen. This approach includes a literature review, explorative semi-structured interviews with experts and a case study of the urban renewal project Hart van Zuid (HvZ) in relation to the Eurovision Song Contest (ESC) in Rotterdam. For this case study, reports have been analysed and semi-structured interviews with stakeholders of both HvZ and the ESC have been held. From the results of literature, explorative interviews, case description and case study interviews it can be concluded that social impacts occur the most and on a short-term basis. An important observation which has been made is the importance of a connection in the form of a relationship between the event and the urban renewal project. The impacts that have been found are divided in the categories of social impact, economic impacts and physical impact. First, side-events are mentioned as an important means to create a social impact on an area. Important is that these side-events have a character that shows the identity of the location, otherwise local people do not feel attracted to these events. Secondly, economic impacts are based on tourism generated by the event. For this impact, no necessary steps need to be taken by the municipality or other hosting organisation. Tourism leads to higher spending in the area and new facilities created by the urban renewal project captures this impact to create a positive long-term economic spin-off. Lastly, the physical impact is, due to the short preparation time, not as present as a social and/or economic impact. Opportunities like creating a marker in the area, speeding up the existing planning of urban renewal and using city dressing for the delivery of the buildings are however mentioned. This research suggests important elements which can be used to increase the successfulness and realisation of these social, economic and physical impacts.

Besides being the fastest growing sector in the Netherlands, and a pioneer in working standards, the creative sector is believed to have a positive effect on economic growth. Multi-tenant buildings occupied by creative sector companies, i.e. creative residencies, are thus assumed to improve the neighborhood’s socio-economic quality. A lack of objective insights however, gives rise to the discussion about whether the creative sector indeed provides added value for it’s location, and if so, what this added value exactly entails. Therefore, this thesis provides a more objective approach in measuring the added value of creative residencies, by combining theory, emerging data sources and statistical modelling. Using Jane Jacobs’ theory on vibrant neighborhoods and data retrieved from the social media platform Facebook, a vibrancy model is constructed through factor analysis. This model is then applied to the city of Rotterdam, to assess the impact of four different creative residencies. The results show that these cases are indeed located within vibrant clusters. However, the exact results, in terms of dispersion of the clusters and change over time, differ per case. Based on a cross-case comparison, the distinguishing case characteristics influencing the contrasting results are assessed, leading to a number of hypotheses. These hypotheses however, are still open for interpretation, providing opportunities for further research. Nevertheless, a strong connection between a creative residency and it’s neighborhood, through the presence of diverse hospitality and an open, public character, appears to contribute to a more dispersed vibrant cluster, and thus a higher added value for the neighborhood in terms of vibrancy.

Sustainable development is the key solution to mitigate the impact of the 21st century’s major challenges such as the depletion of our natural resources, emissions that accelerate climate change together with the large waste generation. One of the largest contributor to the aforementioned issues is the existing building stock, in particular the office sector. Upgrading the sustainability performance of the existing building stock is not only in the interest of regulators or society. Real estate professionals are interested in the sustainability performance of their property, portfolio or occupied property. Due to the complexity, it is not feasible for market participants to verify the sustainability performance of a property. As a consequence, voluntary certification schemes have emerged to provide an objective evaluation. However, at the same time, appraisers are paradoxically expected to provide an objective estimation/opinion on the potential added value of sustainability while their duty according to governances is to derive the market value by analysing available data. The inability of current valuation practices for incorporating a thorough sustainability assessment resulted in decision-makers to focus solely on energy-related costs and justify their investment decisions based on energy-related benefits. For this reason, many investment decisions are believed to be profitable for users instead of owners. However, previous research has shown that property owners of sustainable offices might achieve positive effects in relation to an enhanced image, corporate social responsibility, less risky profile for investors and improved marketability. In the effort to shed light on these far-reaching tentacles of sustainability, this thesis sets forth the base for developing an indicator-based sustainability assessment framework for the appraisal of offices. The proposed framework integrates sustainability and the value it holds for various stakeholders by conceptualizing the relationship between sustainability indicators and different value systems as well as the economic parameters that are adjustable by an appraiser in the income capitalization method. In this way, an appraiser is able to provide an objective estimation of the possible added value of sustainability. Starting from an extensive literature review of different certification schemes, a pre-selection of sustainability indicators was made. Through conducting 8 semi-structured interviews with sustainability experts, the first selection of indicators could be determined together with their goals, measurement and criteria. It is remarkable that according to the participants, actively monitoring the consumption and other management-related indicators are defining the sustainability performance of an office as well, next to the physical characteristics. The online survey was distributed among sustainability experts with a questionnaire designed with the constant sum method and were requested to allocate points over the indicators as well as the categories to determine the relevance. Ultimately, the selection resulted in a set of 34 indicators. Combining the findings from the interviews, data from the survey and the literature review resulted in a framework which was discussed in an expert interview with an appraiser. The findings of the expert interview indicate that there is still a huge gap between practice and theory. The nature of the current valuation techniques hampers the integration of sustainability by focussing mainly on the rental agreement. In order to integrate sustainability aspects into the appraisal, a shift from only looking at the rental agreement to looking at the current use and the fitness for use would be needed. Future research could focus on validating and expanding the linkage between the sustainability indicators and the economic adjustable parameters and reducing the subjectivity of input for the indicators.

This report focuses on the optimal utilization of commercial office real estate at Schiphol Amsterdam Airport to further contribute to the Mainport Strategy of the Netherlands. It is important to realize that the non-aeronautical activities play a crucial role for the business of the airport, especially considering factors such as a limit on the number of flight transfers per year and the increasing airport charges, that contribute negatively to the aviation business. This research emphasizes focuses on the emergent knowledge economy and how a functional program for office real estate at the airport can further contribute to the knowledge-intensive firms locating there. The literature review forms the base for the research which shows the existing Mainport strategy and Schiphol’s role, followed by an insight into the emergent knowledge economy and its potential for the airport location. Next, the empirical part of this research includes understanding the demands of the knowledge corporations at the airport, the strategies used by the office providers, and experts opinions to corroborate the findings from the demand and supply side. Thus, using this triangulation scheme, strategic recommendations are made for an optimal utilization of the office space to Schiphol Real Estate. This research is highly pertinent not only to the real estate department at Schiphol and other knowledge corporations who are looking to (re)locate in the airport vicinity, and also for other airports around the world to provide appropriate real estate for the commercial office spaces.

The world is experiencing climate change. Environmental problems are substantial and it's known that economic growth contributes to them. In addition, social inequality in society has grown. As a response, the concept of sustainable development has come up, but to date businesses find this hard to implement in their ways of working. As societal pressure is increasing, a growing trend can be seen by pioneering businesses, social entrepreneurs and impact investors working towards an impact economy. In the built environment, however, the concepts of ‘impact thinking’ or ‘social entrepreneurship’ are still very much unknown. Although some institutional investors have adopted an ESG-approach for their investments and a number of developers have started to brand themselves as sustainable, to date there is barely no evidence suggesting that this actually leads to positive societal impact. Very few parties in the built environment place impact first in their corporate strategy or measure the impacts they make. As the built environment is responsible for many environmental and social problems, this is something that needs to change. This thesis therefore researches in what ways impact thinking can be implemented into (urban) development, from the perspective of the social entrepreneurial developer. The first part of the research was conducted through a literature study, the second part through a combination of qualitative and design research. A total of 16 interviews have been conducted with impact developers, impact investors and urban development experts. Based on findings, a first definition for impact development is given, its barriers an drivers are formulated and six principles for impact development are proposed. Through a collaborative research through design approach, also an example impact development was designed: a social-impact based plan for the gentrifying neighborhood Wielewaal. The research outcomes aim to inspire private parties in urban or real estate development to place impact first in their ways of working. In doing so, this thesis aims to open the dialogue about the responsibility of businesses to society and our cities and help developers and municipalities work towards more long-term sustainable and fair urban developments. For impact thinking to really take a flight in (urban) development, taxing or incentivizing impact by the government is necessary.

Because of the loss of function, the vacancy levels of cultural heritage are rising. This leads to all kind of (societal) problems. Meanwhile, the value of cultural heritage is difficult to qualify and quantify in terms of economic benefits, which makes it hard to define the added value of cultural heritage and the value created by the adaptive re-use of cultural heritage. Consequently, cultural heritage is sometimes unnecessarily demolished or abandoned. This research therefore aims firstly, to identify the values of cultural heritage in general, to capture its unique and impossible to recreate identity. Secondly, this research aims to prove the indirect added economic value of transforming industrial cultural heritage into hubs of social and/or cultural integration within inner cities. By proving this added value for the neighbourhood, the awareness about the value of cultural heritage and hopefully the investments made in the adaptive re-use of cultural heritage will be increased. To identify the value of cultural heritage a qualitative approach is used following a value division made based on the literature study. This approach contained two explorative interviews and three semi-structured interviews. The perspective of five experts with a design, marketing and governmental background were compared. The interviews showed the different views on the value of cultural heritage within different working fields. To prove the added value of the adaptive reuse of cultural heritage a quantitative approach is used, the hedonic pricing method. The hedonic pricing method focusses on different characteristics of the building to determine the market value of the building based on a statistical model. The characteristics function as variables for the model. Based on previous research a variables list is defied as input to the hedonic pricing model. This method is used because it assumes that the difference in market value is caused by the difference in characteristics. By separating these characteristics, it can be determined if and how much impact one characteristic, in this case the proximity of transformed cultural heritage site, has on the market value. To do this four cases studies in Amsterdam are used, De Hallen, NDSM site, Pakhuis De Zwijger and the Westergasfabriek. Three out of the four case studies show a significant outcome. In the conclusion the answer to the first research question “What is the value of cultural heritage?” is given. It is concluded that cultural heritage is unique and irreplaceable, this creates its value. This value is recognised by people, mostly in an emotional and social context. However, the value of cultural heritage cannot be described in one sentence or in one value. The value of cultural heritage is plural and is partly subjective. A distinction is made between estimating the value of cultural heritage in price (economic value) and appreciating the value of cultural heritage in content (non-economic value). The adaptive re-use of cultural heritage has a positive impact on the market price of the cultural heritage buildings. But above all, the narrative of a building, the story behind the building, is the most important value of cultural heritage and separates it from new built. The narrative is an overarching concept that incorporates all the non-economic values, architectural, emotional and social. It is seen as a heritage premium above the normal market price of a building. The second main research question “What is the indirect added economic value of transforming industrial cultural heritage into hubs of social and cultural integration within cities?” is answered by comparing four heritage models per case study. Three main aspects can be concluded when proving the existence of a heritage premium with the use of a hedonic pricing model. First, in two of the four case studies a negative price premium is found before transformation. This is probably due to the poverty and construction before transformation of some buildings. Secondly, an overall pattern is observed where the highest heritage premium is not found directly next to the case study, but a few hundred meters away. This can be explained by the possibly nuisance that is caused by the activities of the case studies. Finally, an overall average price premium of 7.1% within a radius of 620-1290 meters was found in the three case studies that had a significant outcome. It can thus be concluded that the adaptive reuse of cultural heritage has a positive effect on the surrounding houses by creating an extra house price premium.

The Dutch government claims that upgrading office buildings to an energy label C building is enough to reduce the environmental footprint of companies for now. Research has shown that when a building receives an energy label, it does not mean that the operational energy use of the building is in line with the received energy label; this results into an energy performance gap. The gap consists of the building-related energy use or the user related energy use. This research focusses on how the behaviour of office users can be influenced to reduce the energy performance of an office building in use. This research is divided into four parts. First the energy performance gap is discussed, afterwards measures which influence the energy performance of an office building are researched, followed by which factors stimulate pro-environmental behaviour and finally which methods are effective to implement the measures and behavioural changes. First, the energy performance gap can be explained by the difference between the theoretical energy label and the operational energy use. There are two possible causes for this gap: the building related energy use or the user related energy use. This research focusses on how to reduce the user-related energy by activating the user behaviour. Secondly, during this study a measurement list is developed to show possible measures to reduce the energy performance and environmental impact of a building. Significant change can be achieved, not by implementing these measures on a small scale (one office), but on a large scale (all offices). It is also the case that these types of measures will not always have a significant effect the environmental impact of the building or the energy use of the building, this depends on the current building characteristics. When a building already implements that measure, the impact will be less significant than when they do not use the measure. Third, pro-environmental behaviour (PEB) is a behaviour type that focusses on minimizing the negative impact of the consequences of human behaviour on the environment (V. Blok et al., 2015). Trough literature, interviews and the delphi panels it can be concluded that comfort, economic and intention play an important role in shaping pro-environmental behaviour (Kollmuss & Agyeman, 2002). The factors which do have the highest impact on encouraging and stimulating Pro-environmental behaviour according to the users and experts are: Intention to act, Perceived behaviour control, Social norms and Eco-communication. Finally, methods to activate these factors are related to the measure and how this measure affects the behaviour factors. In this research three examples of implementing measures are given. The three main methods to reduce the environmental impact of an office building and thereby activating the pro-environmental behaviour of the user are: Pro-environmental behaviour guidelines, Eco- communication platform and Social incentivesCombining the methods will get the optimum result of the measures which are implemented. These four parts combined answers the research question: How can the behaviour of office users be influenced to reduce the energy performance of office buildings in use? 

Companies need a competitive advantage within the ‘war for talent’ in order to attract their employee target group. Now the amount of jobs and job vacancies keeps growing, companies started a battle to attract talented knowledge workers to gain the best organisational market position in the current knowledge-driven economy. There is assumed that work environments can be used strategically to attract employees, wherefore companies invest in their work environments. However, it has not been proven that work environments –involving characteristics on location, service & facilities, building, and workplace level– may lead to increased employee attraction. Therefore the main research question is: “What is the influence of work environments on attracting employees to enhance competitive advantage within the war for talent?”. A literature review in combination with structured interviews and an online survey resulted in information on the influence that work environment characteristics have on the attraction of knowledge workers. The data on the influence of work environment characteristics is generated by implementing the value tree method in combination with the constant sum method within the survey. Subsequently, the data is statistically analysed in SPSS by mainly using a Repeated Measures ANOVA in combination with a Paired Samples T-Test or a Games-Howell Test. From the results can be concluded that the work environment is comparable influential as other, more general, employee attraction factors, but is not perceived as one of the most influential factors. Mainly the location-related factors, geographical location and accessibility, appeared to be high influential on people’s choice for a job. In addition, significant differences between groups from different socio-demographic perspectives were found for almost all tested variables. Remarkable is that no significant differences were found between groups on the value that the influence of the work environment perceived when comparing to the general employee attraction factors. This indicates that there can be assumed that the survey respondents have a comparable opinion on the influence of the work environment on their choice for a new job. Besides, 74% of the respondents indicated that they are willing to give up a certain percentage of their (future) salary in exchange for their ideal work environment. However, as most of the variables did indicate significant mean differences concerning their influence of the work environment characteristics between different groups, the ideal work environment is different for each (socio-demographic) group and even for each individual. The advice for companies is to define their target group and link their target group to the employee profiles as presented in this thesis in order to increase the chance of attracting their employee target group, and thereby enhancing their competitive advantage within the ‘war for talent’.

Monofunctional office areas in the Netherlands have been facing difficulties in recent decades. Obsolescence of buildings causes financial, social and environmental problems for owners, users, municipalities and society. As most office buildings are located in monofunctional urban areas, the problem of obsolescence becomes a structural one on an area level and solutions on a building level are insufficient. This requires a generic solution by transforming the area into a mixed-use location which is more liveable, self-sufficient and future-proof. Urban area transformation is a highly complex process that involves multiple actors, multiple projects and specific risks. This research aims to identify and analyse inherent risks in addition with factors that promote success. The research design is qualitative, based on case studies, semi-structured expert interviews and a questionnaire. The first outcome is an extended risk register that is combined with a success factor register, which increases awareness and can be used as a checklist to manage risks and achieve success factors. Secondly, a framework is designed that can be applied as a tool to manage risks and success factors within the process of transforming urban areas. Finally, general advice is given in form of developers and policy recommendations. Those outcomes help professionals in the field to reduce uncertainty and to successfully transform urban areas, and thus fight obsolescence.

The WELL certificate offers advantages for healthcare housing development of the future. As a consequence, new and unknown challenges within the field of the built environment arise. Moreover, there are uncertainties within the behavioral responses of an ageing population and, among other things, the willingness and benefits to invest in a WELL certificate by an institutional investor and developer. There is a lack of extensive knowledge about the contribution of a WELL certificate to healthcare housing development. In this study, the relative preferences for a WELL certificate in healthcare housing were compared to an ageing population in Delft and The Hague. To establish this, a face-to-face interview in combination with a structured questionnaire was held. Based on the response of 23 respondents, the demographical, social (healthcare housing requirements and preferences) and economical dissimilarities are evaluated. Moreover, the preference for a WELL certificate is also estimated by the institutional investors. To establish this, also a face-to-face interview in combination with a questionnaire was held. Based on the response of 4 respondents, the interest to invest in healthcare housing, the healthcare housing requirements, the financial components and the interest in a WELL certificate are evaluated. At this moment it can be argued that the WELL v2 certificate creates more advantages than disadvantages for the different stakeholders during both the development and exploration phase in healthcare housing. On the other hand, based on the estimated results, it can be concluded that more recognition must arise about a WELL certificate by both the ageing population and institutional investor. The results show that there are differences regarding the preference for a WELL certificate between the ageing population and institutional investors. The ageing population with a higher education level, who exercise more than three times a week, who have a healthy eating pattern and who are more satisfied with the quality of their appartement, apartment complex and neighborhood are found to receive less utility for a WELL certificate. This effect is strong for both men and women. The higher educated ageing population living in social rental housing share this idea compared to the lower educated ageing population in social rental housing. The majority of the ageing population prefer a few WELL concepts, in particular the lower educated ageing population. Moreover, institutional investors claims that investing in healthcare housing is less risky compared to offices and regular housing developments. Nevertheless, not enough healthcare homes have been realized yet. Besides this, the institutional investors argue that a WELL certificate in healthcare housing does not improve the GRESB score. This argument is strong for all institutional investors: no distinction regarding professional position. Furthermore, institutional investors show a higher preference to implement all WELL concepts in contrast to the ageing population. The result shows more preference for a certificate: investors are eager when a certificate can be obtained. The estimation of the results increases the understanding of stated preferences of a few WELL concepts in healthcare housing development. To conclude, from a scientific perspective, this research contribute to the understanding of institutional investor and an ageing population choice behavior regarding WELL certificate in healthcare housing. In addition, it contribute to a potential ex-post study of an ageing population living in healthcare housing. Besides the scientific perspective, this research also contribute to the practical relevance were the behavior of two different social groups within the ageing population will be investigated regarding the social rental, free rental and owner-occupant sector. Additionally, this research contribute to the understanding of the current preferences for a WELL certificate complementing healthcare housing without a WELL certificate.

This research concerns the economics of energy-efficient buildings: by merging auction theory and hedonic regression analyses, the price premium paid in the Netherlands for energy-efficient office buildings is investigated. The importance of the transition to an energy-efficient built environment is underlined by the increasing Dutch and European regulations regarding energy efficiency within the real estate market. As a result, the market for energy-efficient buildings has grown considerably in recent years. Therefore, office buildings increasingly have various voluntary and mandatory energy certificates. Since 2008, the energy label has been the measure of the energy performance of a building in the Netherlands and is therefore included as a test unit in this study.Problem analysis Most studies in this field have been conducted in the United States, primarily because CoStar has an extensive database of commercial real estate. As the Netherlands does not have such a centrally organized database, research into this subject is made more complex. Over the last couple of years, there has been growing interest in the financial performance of energy efficient buildings. However, the relatively large deviation and sometimes improbable contradictions of the identified price premiums in the various hedonic price studies might indicate that in some cases the models suffer from misspecification. It is possible that this results in an over- or underestimation of the rental price premium of energy efficiency in the Netherlands. This research presents a refined model to better isolate the effect of energy efficiency on the willingness-to-pay from the overall building quality, and therewith to determine the realistic rental premium for energy efficiency in the Dutch office market. Aim of the study This study aimed to determine the rental premium for energy efficient office buildings at the level of an office unit in the Randstad. An office unit is the office space that is included in a lease contract. In addition to the economic factors, location, and building characteristics, it was particularly important to include building and facade aesthetic features in the analysis, because such a control was missing in most comparable studies. It was expected that by controlling for aesthetic building and facade features, the rental premium for energy-efficient office buildings would be lower because the effect of energy efficiency on the rental price would be better isolated. Relevance Previous research in this field has shown that tenants are prepared to pay for energy-efficient office buildings. However, that research rarely controls for aesthetic building and facade features, which VII creates a gap in academic knowledge. By operationalizing and quantifying building and facade features, it is possible to control for these features. Therefore, the added academic value of this research is the more in-depth control of the aesthetic building and facade features. This research into the rental premium of energy-efficient office buildings in the Randstad contributes to the knowledge of stakeholders such as investors, developers, researchers, real estate agents, urban planners and policymakers. They need insight in the dynamics and influence of the energy efficiency of office buildings on the various office markets. This research offers the possibility of a practical application for the price characteristic as a benchmark within the valuation process. Methodology The aim of this research is to determine the rental premium of energy-efficient office buildings. The research wanted to give an accurate description of the actions that must be taken to achieve the goal of the research (Figure 2). Step 1 describes the reason and defines the problem statement by analysing the current context of the research field. Step 2 relates to the theoretical basis for regression analysis. Significant rental determinants within previous research have been identified to create a theoretical basis for the regression model. In step 3, data is collected for the multiple regression analysis and the mathematical specifications of the model are formulated. In step 4, the collected data is analysed and the regression model is formulated and designed. Different models are constructed and investigated. Step 5 concerns the interpretation of the model results. The re-evaluation and improvement of the content in an earlier phase resulted in an integrated design process in which the definitive regression model of this research was constructed. Results and conclusions The Research shows a positive rental premium for energy-efficient office buildings. The estimates of the predictive model indicate a rent price premium of 8.4% for energy efficient office buildings (label A-C) versus energy inefficient office buildings (label D-G). The research has also shown that different rental premiums are paid for different energy labels. The regression shows that when controlling for all other variables related to the macro, meso and micro levels, tenants are willing to pay substantially higher rents for office buildings with a B and or C label than for buildings with energy label A. Furthermore, tenants pay substantially lower rents for buildings with energy label E than for those with label A. No substantial differences have been demonstrated in the rent for the other energy labels. Perhaps, the lack of significance for buildings with a D, F or G label is the result of the small samples size in this research, so significant results are more difficult to achieve. In addition to the usual control of economic, location and building factors in rental premium research, this research has added a control level of building and facade aesthetic features. This control was missing in almost all comparable studies. If the control for aesthetic building and facade features is left out of consideration, the rental premium for energy-efficient office building would have been 13.5%, about 5% higher than the proven rent price premium of 8.4%. The addition of the level of control with regard to aesthetic building and facades features therefore has a significant effect on the rental price premium. This result was expected. The effect of energy efficiency on the rental price of office buildings is positive, but this is weaker than in previous studies because the effect of energy efficiency is better isolated through the extensive control of aesthetic building and facade features and was therefore determined more precisely.

With the rapid development of real estate market, due to trends as the change in the way of working and automation/digitalisation of working processes, flexibility is one of the most important tasks for owner/investors of office buildings to invest in. Currently, 60% of the vacant offices are structural vacant. Flexibility could be used as an instrument to prevent future vacant office space. The flexibility to change characteristics of a building during its life cycle is called the adaptive capacity of a building. Adaptability can be regarded as way to make the real estate supply more dynamic and better able to cope with demand dynamics (static supply and dynamic demand) and in this way extend the functional lifespan of buildings. The problem is that real estate investors are hardly interested in investing in office buildings to increase the adaptive capacity. Thereby, is the most used financial method the DCF method which is currently insufficiently used to simulate the future uncertainty in an investment in flexibility on the longer term. This aim of this research is to illustrate how to cope with the future uncertainty in a new financial method. By using a stochastic approach with the Decision Tree Analysis the investors could be stimulated to invest in the adaptive capacity of office buildings and increase the adaptive capacity of a building to respond if the functional demand changes.

Context - The current environmental situation as a result of human life reflects the demand for more consciousness on the embedded energy of buildings. Moreover, due to the recent economic crisis the perceived naturalness to demolish existing buildings for new development is outdated. Hence, new functions should be accommodated in existing buildings, through sustainable adaptive reuse. However, traditional approaches are failing. New, innovative business models are needed to enable maintenance and adaptive reuse of heritage buildings in order to finally rebuilding the future. Objective - This explorative and design-oriented research aims to have insight on the circular redevelopment potential of elements within the existing built environment. This research focused on two central themes, respectively adaptive reuse of societal heritage projects and circular economy. These central themes represent the theoretical framework. The overarching objective was to accelerate a transition from a linear economy towards a circular economy through circular redevelopment. Methods - This thesis is structured from both an empirical and operational perspective. Literature study is used to summarize prior research, critically examine contributions, explain results of prior research and clarify differences in alternative views of the past. The conclusion extracted from the empirical study will be used as input for the operational model, together with unstructured expert interviews, and a case study research. Results - The CRP indicator comprises 6 consecutive strategies which are assessed for each component; respectively (1) Reuse, (2) Repair, (3) Refurbish, (4) Remanufacture, (5) Repurpose and finally (6) Recycle. Identifying the degree of circularity starts with the assessment of applied material characteristics (Bill Of Materials) and their relation and interfaces with all elements in the system (Disassembly Determining Factors). By combining this factor with the actual condition on site (NEN 2767), the applicable reutilization potential of an element could be developed. In accordance with the preferred representability of predefined spaces specific components are categorized if applicable. Altogether, this reflects the degree of circularity of a building (Building Circularity Indicator) for a particular intervention. Conclusion - The CRP Indicator is a useful tool for the assessment of properties to implement circularity during the redevelopment process. Building inspectors can provide property managers/ owners with objective data about the applied material characteristics and corresponding condition status of building elements. It supports principals to identify preconditions, in order to specify their ambition on circularity and provide the sufficient information to actually enable contractors to differentiate from their competitors during tenders. The assessment model is not intended as a certificate or label, however could be used as supportive instrument to substantiate any classification on this matter.

The highly competitive and dynamic business environment of today has resulted in an increasing pressure for efficiency of the main resources. As corporations seek to quickly respond and adapt to the changes in the environment, strategic decisions about the workplace become fundamental as it entails the two most expensive resources of any organization: human capital and real estate. Within the wide range of flexible workplace options now available in the market, co-working is of particular interest due to its exponential growth in the last years; as this trend continues to grow and companies start considering it as part of their accommodation strategy, understanding the value of co-working in corporate real estate becomes essential. The aim of this research is to understand how co-working as a real estate strategy can contribute to the performance of a corporation, while meeting the flexibility demands of the organization and its knowledge workers. By means of a qualitative methodology, the research involves five case studies of front-runner organizations, and semi-structured interviews with co-working providers and workplace experts. The study results in the identification of six strategies that organizations, in different stages of maturity, can pursue to incorporate co-working as part of their real estate portfolio. The strategies include temporary space solutions, such as Swing Space or for Temporary Projects and Staff, and complementary space solutions, such as Core and Flex, Expansion Space, Testing Market and Touchdown Space alternatives, that corporations can implement, according to their requirements, to drive business performance.

Orthodox economic models often linked the size of cities to their economies. However, this changed through the last quarter of the 20th century; cities grew bigger, side by side to unemployment, inflation and falling wages and productivity (Davis, 2006). In Egypt, urban migration was considered the root of the city’s density. In the seventies, New Urban Communities were developed with strategic visions, they deployed enormous resources and created supply for the economic and social aspects of urban life. However, today they remain vastly vacant and most of them contribute little to the region’s economy. The main research question of this research is: “How can attributes of urban competitiveness contribute to the development of sub-centres in new urban communities of emerging economies?” To answer this question two of the eight developments around Cairo are comparatively analysed with regard to their urban competitiveness. Theories of urban economics and its spatial structure are adapted for the context of this case-study. A new quantitative methodology is utilised to overcome data challenges in the context of emerging economies. Exploratory spatial data analysis is used to demonstrate the spatial distribution of socio-economic attributes and their relation to the resulting urban competitiveness. The comparison between city centre and NUCs is analysed to inform policies for urban growth using the framework developed in the literature review. The research highlights the importance of autonomous urban management for each NUC. This is carried out within a framework of a collaborative polycentric urban region that ensures the differentiated roles of each region. The urban competitiveness analysed shows the system of cities within the metropolitan region, and the potential emerging sub-centres in NUCs. The mapped socio-economic attributes establish the possible correlation between urban competitiveness and access to these attributes. They also show mismatches in supply and demand, and shed light on particular effects of public urban spending.

‘Real estate is the largest asset class in the world’ as stated by Harvard business school Professor Arthur Segel. It is also unbeatable driver of individual wealth and overall economy. But on the other hand, it is one of the most imperfect markets, due to the lack of accessibility to valuable information in the limited time of decision making process. Thus, it is crucial to find out what is brought by the state of art that could tackle this problem in such a complex and competitive context. Since, the main component of information is data which is also the chief resource in the modern world; (big) data could be a hot phenomenon to be adapted within the real estate investment domain for improving the performance of the real estate market. Thus, the main goal of this research is to bridge the area between real estate investment domain and big data, by leveraging big data methods, predictive analytics and smart tools for achieving informed real estate investment decisions. Consequently, investors will be able to maximize return, achieve better risk diversification and select the right time to invest. The expected final product of this research is a developed integrated decision making model and flow chart that involves big data methods and techniques for making more informed real estate investment decisions ‘Dutch office market’.

There is a big demand for housing in the Netherlands and a significant portion of that demand can be facilitated through urban redevelopments. Urban development is hindered by financial barriers that cause public financial deficits. Stimulating urban redevelopment can be achieved by stimulating feasibility. The developers’ contribution is a value-capturing tool that can facilitate private contributions to public space. Through contributions in public space, feasibility can be stimulated by optimizing and widening the developers’ business case. Using the Delphi method, a panel of developers was formed to analyse the relation between the developers’ contribution and developer decision-making in practice. Decision-making is determined by the type of contribution, benefits for the developer, a context and conditions. Private contributions to public mean taking responsibility in some way. Doing this can add value in various ways, but developers are mainly driven by financial aspects. There are certain conditions to doing the contribution, of which the level of financial feasibility is the most important. The willingness to contribute is highest when a municipally adopts a passive role. Developers should be aware of the benefits and municipalities must be aware of the context that enables private contributions. Further research could improve the significance and confidence in the findings.