Design Inadequacies and the Maintenance of University Buildings in Ile-Ife, Nigeria

It is imperative that the maintenance possibilities of a building be considered at the design stage, this will enhance ease of maintenance of such buildings and prevent building failures resulting from design inadequacies. This study analyzed the design configurations of selected buildings in Obafemi Awolowo University, Ile-Ife; the maintenance problems traceable to design; and also determined the impact of design related problems in the maintenance of the buildings. This was with a view to providing information that could enhance the maintenance of future buildings in the study area. The study used primary data obtained from physical observations of the selected buildings and secondary data from existing maintenance records. There were thirteen (13) faculties with forty-four (44) buildings and eighteen (18) lecture theatres within the study area. Using stratification based on design configuration, twenty-seven (61%) faculty buildings and ten (56%) lecture theaters were selected as sample size for the study. Forty five questionnaires were administered on the staff of Maintenance Unit, building occupiers and the staff of Physical Planning and Development Unit (PPDU) of the university. Data collected were analyzed using frequency counts and percentages. The results of the study revealed that in-built access for maintenance operations was provided for only 31% of the total building facades. The problems encountered in the management of maintenance operations on the defective elements were traceable to factors such as environmental impacts (13%), structural stability (11.1%), functional failures (10.5%), and inaccessible defective portions (9.3%). Others were aesthetic considerations (9.3%), users’ impacts (9.3%), choice of inappropriate construction materials (8%), and building shapes (6.8%). The identified physical impacts traceable to design inputs were moisture stain (2.92%), weeds on building elements (2.63%) cobweb stains (2.34%), broken concrete fins at stairwells (0.15%), plumbing defects (0.44%), blocked drains (0.15%), and undersized roof gutter (0.15%) among others. The study concluded that problems encountered in the management of the maintenance operations such as provision of as-built drawings; working space and safe access to defective portions; choice of correct construction materials and methods by certified personnel were not taken care of during the design stage. The study recommended that all building items, elements or components be designed and constructed for ease-of-maintenance to ensure better future performances. Keywords: Building, Building Design, Building Reliability, Building Availability, Building Maintainability, Maintenance Problem

Female-Led agrarian households and the question of sustainable land and food security in an emerging economy: Evidence from Tula Baule

Purpose: This study examines the nexus between land tenure security (LTS) and food security (FS) in female-led households of Tula Baule agrarian settlements. Design/Methodology/Approach: The study used a qualitative research design based on the constructivist paradigm. The researchers conducted in-depth interviews with female household heads cutting across the three “yaati” (villages) of Tula Baule. Analysis of data collected from the interviews was done employing transcriptions, creating semantic networks and utilising thematic content analysis. Findings: The study revealed that all but a few respondents believed that they had LTS based on “Feloh's” (ancestral gods') supremacy without recourse to documentary evidence of ownership. Similarly, all but a few participants do not have access to three square meals per day throughout the study period. The study also found a strong relationship between LTS and FS in the study area. Participants indicated a lack of motivation to invest in farms that lack LTS, consequently affecting their agricultural productivity and FS. Practical implication: It provides an empirical base to equip policymakers with valuable information for policies relating to females' access to land and food in agrarian settlements. Originality/value: This study is the first to empirically analyse land and food security in female-led agrarian households of Tula Baule in an eclectic context

Towards closing the housing gap in the UK : exploration of the influencing factors and the way forward

Purpose. Housing provides constructed space for human activities. Literature indicates that housing impacts wealth, education attainment and health outcomes, among others. Because of its contributions to society, it is essential to develop and implement strategies that address the housing shortage experienced in most cities across the globe. This study aims to unpack the factors affecting housing production in the UK and chart the way forward. Design/methodology/approach. In addressing this study's aim, an interprivitst approach was adopted and semi-structured interviews were conducted with 18 experienced professionals. Data were collected across the four nations of the UK (England, Wales, Scotland and Northern Ireland). Findings. The results indicated that the opportunistic behaviour of stakeholders is one of the main factors affecting housing production in the study area. Also, modern construction methods, collaborative practices, government intervention and affordable housing schemes were identified as key strategies for addressing housing production factors. Practical implications. This study identified strategies for mitigating housing production issues that provide a focal point to all stakeholders keen on filling the housing shortage gap and improving productivity to channel their resources and effort accordingly. Originality/value. To the best of the authors’ knowledge, this study is one of the first to empirically analyse the influencing factors on the housing gap in the UK from the perspective of the supply side to provide information that could lead towards closing the said gap

Financial Structure of REITs in Emerging Property Markets: An Assessment of N-REITs

Purpose: The study assessed the financial structure of REITs in emerging markets, using the Nigerian Real Estate Investment Trusts (N-REITs) to provide relevant information to guide both foreign and domestic investors.  Design/Methodology/Approach: Secondary data obtained from the financial statement and annual reports of all the REITs companies in Nigeria namely Skye Shelter Fund, Union Homes REITs and UPDC REITs were used for the study. The study period covered from 2007 to 2016. Descriptive statistical tools such as frequencies, mean weighted scores and percentages were used in analyzing the data obtained for the study. Findings: The study revealed that UPDC REITs had the highest capital injected into the industry; hence it has the highest market capitalization. However the entire industry has a market capitalization of ₦41, 183, 684, 050 ($134.5 million) and a unit holders’ fund of ₦44,726,754,000 ($146.2 million) within the study period, this is considered quite small when put alongside REIT companies of other nations with substantial market capitalizations such as the US which had a market capitalization of about $977.9 billion and South Africa with market capitalization of about$21 billion. Similarly, the study revealed that the N-REITs has great potentials given that the direct property from which it derives its income is doing well in terms of return performance in the study area.Originality/Value: REITs in emerging property markets has not been sufficiently studied. This study provided empirical data from an emerging property market which can guide prospective investors from across the globe. Keywords: Emerging markets, investment, market capitalization, real estate, structure

Comparative Analysis of the Risk-Return Characteristics of Office and Shop Property Investments in Osogbo, Nigeria

This study aims at examining the risk-return characteristics of commercial real estate investments in Osogbo Nigeria. Primary data used for this study was obtained through questionnaire survey. A total enumeration survey of all the estate surveying and valuation firms in the study area was carried out. The data collected was used to calculate the income, capital and total returns on investments in commercial properties in Osogbo. Furthermore, descriptive statistics was used to determine the asset returns and asset risk of the selected investment assets. This involved the use of weighted means, percentages and Standard deviations. The study revealed that investments in commercial properties in the study area provided a continuous positive rate of returns ranging between 3.12% and 34.35% while the corresponding risk ranged between 1.50% and 10.11%. The investment information provided in this study has significant implication for both local and foreign investors desiring to invest in the Nigerian property market. Keywords: Asset, Return, Risk, Investment, Portfolio

Trends in the Rental Values of Residential Properties Proximate to Tertiary Institutions: The Case of Federal Polytechnic Ede, Nigeria

The aim of this study is to assess the trend of residential properties proximate to Federal Polytechnic Ede, Nigeria with a view to providing information for real estate investment decisions. The study was carried out by means of questionnaire survey. The population for the study consisted of Estate Surveyors and Valuers, Landlords, and the staff of the Management Information System (MIS) Unit of the Federal Polytechnic Ede. The areas covered for this study includes Agbale, Rombay, Ogberin and main gate areas which are neighborhoods proximate to the institution. Both descriptive statistical tools such as percentages, weighted mean scores and averages as well as inferential statistical tools such as correlation and regressions models were used in analysis of the data obtained. The study found that there was a steady and consistent increase in students’ enrolment from 2007 to 2016. Similarly there was a significant increase in the rental values of residential properties in the neighborhoods around the institution. Both the correlation and regression analysis showed a significant positive relationship between students’ enrolment and the rental values of residential properties in the study area.  The implication of this is that investors in the real estate sector could consider investing in properties proximate to such institutions so as to address the mismatch between supply and demand for students’ accommodation and enjoy high returns on investments. Keywords: Investment, property, proximate, rent, residential, students

Towards closing the housing gap in the UK: exploration of the influencing factors and the way forward

This is an accepted manuscript of an article due to be published by Emerald. The accepted version of the publication may differ from the final published version.Purpose: Housing provides constructed space for human activities. Literature indicates that housing impacts wealth, education attainment and health outcomes, among others. Due to its contributions to society, it is essential to develop and implement strategies that address the housing shortage experienced in most cities across the globe. The study aims to unpack the factors affecting housing production in the UK and chart the way forward. Methodology: In addressing the study's aim, an interprivitst approach was adopted, and semi-structured interviews were conducted with eighteen experienced professionals. Data were collected across the four nations of the United Kingdom (England, Wales, Scotland and Northern Ireland). Findings: The results indicated that the opportunistic behaviour of stakeholders is one of the main factors affecting housing production in the study area. Also, modern construction methods, collaborative practices, government intervention and affordable housing schemes were identified as key strategies for addressing housing production factors. Implication: The study identified strategies for mitigating housing production issues that provide a focal point to all stakeholders keen on filling the housing shortage gap and improving productivity to channel their resources and effort accordingly. Originality/value: This study is one of the first to empirically analyse the influencing factors on the housing gap in the UK from the perspective of the supply-side, to provide information that could lead towards closing the said gap

Sustainable real estate management practice: Exploring the priority of operational stage for actualizing sustainable built environment goal in sub-Saharan Africa

In the real estate and construction industry, the built       environment contributes to environmental crises and climate threats      . However, what are the environmental negative effects/impacts at the post-development stage (operational stages)? Are they different from those at virgin constructions? After the construction phase, what factors inhibit the adoption of sustainable real estate management practice, herein referred to as the green lease movement? To what extent has sustainable real estate management practice       been adopted in Nigerian commercial cities? Specifically, this study examines negative environmental crises at the operational stages and confirms if different from the conventional counterpart. It also examines the factors inhibiting the full adoption of sustainable real estate management practices. Similar to conventional construction, carbon dioxide emissions and toxic waste generation emerged       as the major negative effects/impacts during the operational stage. Lack of prerequisite skills, enforcement of green leases, inadequate training, and empowerment of licenced property managers and occupiers on how such leases operate significantly inhibit the full adoption of green leases in the region. Energy conservation bulbs and digital metering are the most adopted features. The current property management practice does not address these negative effects/impacts