Title page for ETD etd-06092011-092604


Document Type Master's Dissertation
Author McDonald, Stefanus Albertus Myburgh
URN etd-06092011-092604
Document Title Risk in mixed-use property development in South Africa : a case study of Melrose Arch
Degree MBA
Department Gordon Institute of Business Science
Supervisor
Advisor Name Title
Prof F Viruly Supervisor
Keywords
  • risk
  • mixed-use development
  • property development
  • new urbanism
Date 2010-11-10
Availability unrestricted
Abstract

Mixed-use development is a growing trend that is transforming the real estate landscape and is defined as a real estate project with planned integration of some combination of retail, office, residential, hotel, recreation or other functions that are pedestrian-oriented, limit urban sprawl and have architectural expression. Without a tested framework to predict and mitigate risk in a development, it is difficult for investors and property developers to make accurate business decisions. The aim of the research was to explore the risks associated with a prominent mixed-use development and how these risks may be mitigated from a business perspective.

From the existing literature, a framework was constructed of elements that would impact on the risk profile of a mixed-use development. Due to the limited amount of available literature, a qualitative and exploratory research design was employed. Due to its prominence and distinctiveness, Melrose Arch in Johannesburg was selected as a case study. A process of triangulation was used between observations, documentation and in-depth, open-ended interviews with the key role players in the development of Melrose Arch.

The research indicates that Melrose Arch is riskier than traditional property development. Mixed-use development is an ongoing concern that requires ongoing strategic alignment and general management expertise. Findings from the research contributed to construct a comprehensive framework for risk mitigation in the mixed-use development process.

Copyright 2010, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria

Please cite as follows:

McDonald, SAM 2010, Risk in mixed-use property development in South Africa : a case study of Melrose Arch, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://upetd.up.ac.za/thesis/available/etd-06092011-092604/>

F11/238/ag

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