Die Immobilie als Gegenstand der Ingenieurwissenschaften in Praxis, Forschung und Lehre

Translated title of the contribution: Real estate as an object of engineering in practice, science and teaching

J. Zimmermann

Research output: Contribution to specialist publicationArticle

5 Scopus citations

Abstract

Real Estate Development aims at the fulfillment of the requirements of utilization as well as the financial markets with respect to an appropriate risk-profit relationship. Appropriate utilization represents therewith the actual generation of value to be measured monetarily as in office buildings, hotels and shopping centers. Yet the benefit of property can also be indirect as in terms of national economy which applies e.g. to infrastructure objects like roads, tunnels, bridges and administration buildings. Furthermore immaterial but nonetheless valuable and measurable profit can be derived from e. g. monuments, religious edifices and in some cases from personally used residential buildings. In every respect the frame for planning and realization aiming at the optimal fulfillment of utilization demands is determined by the investor and forms the final requirements for architects, engineers and construction companies. This task is closely connected with engineering as well as with architectural design, economy, law, sociology and psychology. Thus typical characteristics of this branch are a significant degree of division of work and a highly interdisciplinary approach. Despite its close interaction with financial economics Real Estate development is to be understood as an institution of real economics focusing on the real product which is the actual building. This would be specified by architects and engineers for a world given by markets, utilizations and interconnecting object conceptions and is to be handled by enterprises and furthermore tackled in teaching and research. Therewith a clear distinction is given being an engineering task apart from institutions handling the mere design (Architecture) or the financial aspects (Economy). Real Estate development becomes the pivot joint where utilization (operating the functions), building owner (investor), planner, construction companies and operating companies (operating the object) meet and share the goal of optimizing the efficiency of the Real Estate, given by the Life Cycle Costs and the Life Cycle Revenues. This interdisciplinary branch of engineering needs to be understood, developed and pursued in the world of business as well as in teaching and research at the universities.

Translated title of the contributionReal estate as an object of engineering in practice, science and teaching
Original languageGerman
Pages115-128
Number of pages14
Volume90
NoMarch
Specialist publicationBauingenieur
StatePublished - Mar 2015
Externally publishedYes

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