Municipal Real Estate deployed as a capital asset

Abstract

Abstract The aim of this study is to introduce the principles of Corporate Real Estate Management (CREM) within the municipal organization. It is presumed that, looking at the private sector’s accomplishments in this field, these principles will allow a city council to deploy their real estate in a more strategic manner. In this study a model has been created for implementing so-called Municipal Real Estate Management (MREM) within the municipal organization on the desired level and adjusting the municipal real estate portfolio accordingly. This introduction of MREM will contribute to offering adequate accommodation to the different consumers, which heightens customer satisfaction. At the same time, it will add to the company result, balancing costs and benefits and delivering added value through a better control of risks and creating economies of scale