MBA students see signs of U.S. job market thaw

Thursday January 28, 12:20 PM

By Ros Krasny

BOSTON (Reuters) - Students at one of America's top business schools see evidence that high-technology, start-up and alternative energy companies will hire more actively this year after a difficult 2009 for graduates.

MBA students from Massachusetts Institute of Technology's Sloan School recently took their annual "tech trek," testing out the demand for summer internships for the class of 2011 and full-time jobs for this year's graduates.

Students fanned out across Boston, Silicon Valley and Seattle, meeting with energy and high-tech enterprises. In December others visited six Boston-area biotechnology companies.

And what they found gave them reason to hope; tech outfits are finally seeing demand pick up, energy companies are pushing hard to develop renewable fuels and together the two sectors could lead the way out of a job market morass.

Employment growth in the United States has famously been powered by small- and medium-sized businesses. So far in the fragile economic recovery many small firms have been reluctant or unable to take on new staff.

"Our MBAs are unbowed, and they came back with a lot of gusto," said Sloan adviser Paul Denning, who has made the trek to California for several years. "The general consensus is that things are better, particularly in Silicon Valley."

Last year, Denning said, even tech giant Google, "was really not hiring. Everything had contracted after the financial market collapse." Now, green shoots are popping up.

Google did hire some Sloan graduates from the 2009 class but was not among the top 13 hirers listed by the school.

COMPANIES ARE OPTIMISTIC

Jaclyn Loo, 26, who will graduate in 2011, said she hopes to secure a summer internship in e-commerce or mobile technology -- perhaps with a little guidance from Sloan's robust alumni network in the San Francisco Bay area.

"Overall, the companies were optimistic. The economy is starting to turn around little by little," she said after meeting with firms from computer giant Apple and design consultants IDEO to web reservation firm Open Table.

Belt-tightening during the recession, which started in December 2007, has left many companies with aging equipment badly in need of refurbishment. That is already boosting the results of large tech companies and could trickle down to smaller ones and jump-start a fresh round of start-ups.

This week, a National Association for Business Economics survey showed 44 percent of U.S. companies expect to increase capital spending this year, with much of the investment in computers and communications equipment.

MIT's students are among the brightest in America. In 2009, Sloan was ranked No. 5 among business schools by U.S. News and World Report. Normally its graduates are in heavy demand, many landing six-figure starting salaries at high-profile firms.

But 2009 was a tough year for even the best qualified as the U.S. economy shed millions of jobs, companies cut to the bone and financing for new businesses largely dried up.

Students said many 2009 graduates spent months seeking work, always with the knowledge that a new crop of competitors was coming up behind them.

The class of 2010 senses a change.

"It seems that most of the companies we're speaking to are looking to hire. They're keeping us in mind," said Mike Norelli, 26, who graduates in June.

In Cambridge, Massachusetts, the Sloan students visited Oasys Water, a start-up with seven employees which hopes to redefine the small but growing market for water reuse and desalination using technology developed at Yale University.

Chief executive Aaron Mandel said the company relies on "a lot of consulting, a lot of outsourcing, and a lot of free work." But a recent Department of Energy grant to demonstrate its water purification prototype could propel Oasys' slim headcount into double figures by year-end, he said.

(Editing by Mark Egan and Cynthia Osterman)

Hiring on the recovery mode

Monday January 25, 01:52 PM

New Delhi, Jan. 24 -- With the recovery of the economy, companies are back hunting for talent to support their own expansion plans. At a two day "placement fair", organised by Shine.com - a Hindustan Times initiative in association with ABES Engineering College, Ghaziabad, as many as 75 companies participated to hire fresh executives. According to officials, 2,200 students appeared for the interviews organised at the fair.

While 550 students have been offered jobs on the spot, 1300 have been shortlisted by these companies for further screening.

Big names such as Infosys (INFOSYS.BO : 2476.7 -17.65), Pantaloon, Fullerton Securities, Reliance Life, Bajaj (BAJAJAUTO.NS : 2101.05 0) Capital were present at the fair. A member of the organising committee said that this year there has been seen a sharp increase in the number of companies that have participated at the fair compared to last year.

"On one hand, we have got companies looking for right talent and on the other aspiring students looking for the right opportunity to start their career at one single platform and we are happy with the success andeffectiveness of the same, " said Amit Garg, business head, Internet, HT Media.

Amit Sharma, 23, who travelled from Jammu to participate at the placement fair said he was keen to get a job which offered him career growth. "I have come all the way from Jammu to be present at the fair and I am hoping that I get atleast one offer," he said. "We are looking to fill up all these 500 vacancies in these two days," said Bharat Joshi, chief divisional manager, Bajaj Capital. He added that are about 500 vacancies in the NCR. Source: Hindustan Times

Careers in real estate

REAL estate agents are matchmakers, bringing buyers, sellers and homes together. A real estate agent is an individual who works for a real estate brokerage firm and represents one of the involved parties interests during the sales process. The term real estate, or "real property," refers to the ownership of land and interests in land. Most real estate agents are independent salespeople who provide their services on behalf of a licensed real estate broker. The broker pays the agent a portion of the commission earned from the agent's sale of property. Earnings are almost always based strictly on commission. Good real estate agents understand the local market inside out. They help house- seeking clients find neighborhoods and homes offering the best balance between their lifestyles, concerns and budgets.

Qualifications & skills

Realtors agents also act as intermediaries in price negotiations between buyers and sellers. It requires the ability to search for clients and close deals. A common misperception is that someone interested in homes and architecture can have a prosperous career and success in this line of work. Aspirants' must be able to interact effectively with various types of people, as this is a relationship business. Flexibility is also an essential quality. There are neither fixed working hours nor a fixed monthly income.

Work

Developers can work as a prime negotiator and a financial whiz. Developers buy land, persuade zoning officials to grant permits and manage the labour that builds a commercial or residential project, all the while overseeing the budget and sales team.

There are a number of choices in area depending on where your interests lie. The residential part tends to attract people focused on building homes and creating individual living environments. . Retail attracts people who are sales-oriented and interested in commerce, the movement of goods and the space in which to do that effectively.

If you're a relationship builder, you can consider becoming an acquisitions expert who generates property leads, negotiates purchase contracts and works with government officials before handing the property over to a project manager. If you're more analytical and have a head for numbers, an asset manager who handles budgets, forecasting, cash flow, accounting, operations, and long and short-term financing, could be just your cup of tea. In general, larger the firm the more specialised the job.

If you're have some capital, you can start your own firm buying distressed property and renovating for sale. If you don't have a college degree, you can sign on with a small developer and work your way up. No formal education is necessary though it is desirable. Gaining practical experience by trying to do a few deals of your own is important. Courses in technology will also help, because you'll need to know how to use spreadsheets, databases, graphical analysis and geographic information systems.

You can also go into real estate business part-time. The most important attribute of a productive real estate career is not so much the amount of time you put into it, but the quality of the time you invest.

Whatever size company you choose, it is important to choose a reputable company and to find a situation that provides a suitable work atmosphere. With experience you can make a shift from selling real estate to managing others selling real estate by becoming a branch manager. While individual agents are the players who get the glory of hitting the home runs -selling the property, signing the difficult buyer or convincing people to relocate, branch managers are the realty industry's coaches.

Regardless of how you enter the field, real estate development as a career is like a smorgasbord of marketing, finance, and material organization and supply chain management.

PAROMITA PAIN, The Hindu

Indian cos’ hiring activity picks up 4.1% in Sep

The naukri.com’s monthly ‘JobSpeak index’ increased to 729 in September from 701 in August this year

PTI

New Delhi: India Inc’s hiring activity picked up 4.1% in September with IT, BPO and real estate sectors turning bullish after a long time, a report by job portal naurkri.com has said.

The naukri.com’s monthly ‘JobSpeak index’ increased to 729 in September from 701 in August this year.

“The secular trend is positive across sectors. Had it not been for an early festival season we may have seen further improvement in the index.

“The good news is that the IT and BPO sectors which are big employers especially at entry and junior levels seem to be in positive territory after a long time,” Info Edge (owner of naukri.com) COO and director Hitesh Oberoi said.

Moreover, on the three-month moving average, the index inched up to 719 in September from 715 in August.

Last month, companies’ hiring activity saw a positive trend with 14 out of 41 sectors covered showing a double digit rise in hiring activities.

The IT-enabled services (ITES) and BPO, real estate and retail sectors saw a significant push in September as compared to August, the report stated.

The ITES/BPO sector, saw an increase of 18.3% in hiring activity in September, while real estate and retail saw a rise of 36.8% and 12.2%, respectively.

A single digit increase was reflected in 13 sectors, while 11 functional areas reflected a dip. Sectors like construction and engineering, insurance and IT Software rose by 6%, 4.5% and 2.1% in September compared to August, the naukri.com report stated.

However, Banking & Finance and Oil & Gas saw a drop in hiring activity by 6.5% and 4.6%, respectively in September as compared to August.

Out of the top 13 cities covered in the Naukri.com survey, Mumbai, Chennai and Delhi/NCR saw an upward trend in hiring at 9%, 8.4% and 3.5%, respectively.

Smaller cities like Ahmedabad and Vadodara saw double digit growth at 11.8% and 12.5%, respectively. Meanwhile, hiring activity declined by 5.4%, 3.4% and 2.4% in Hyderabad, Bangalore and Pune, respectively in September as compared to August.

The job index has been calculated on the basis of job listings added to the website month on month with July 2008 been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008.

The data has been sourced from Naukri.com and it reflects job listings and therefore hiring trends on the site.

More CEOs plan to hire than fire in 2010: Survey

Wednesday January 27, 03:10 PM

By Reuters 

Business confidence is bouncing back after the sharpest drop in economic activity since World War Two, prompting more industry leaders to start hiring again, according to a survey on Wednesday.

Job creation plans, however, remain small-scale and largely concentrated in emerging markets, where the economic recovery has been strongest and wages are lower.

Growth hopes in the developed world remain markedly more subdued, the study found.

A PricewaterhouseCoopers (PwC) survey of 1,200 chief executives in 52 countries found 39 per cent of industry bosses aimed to increase headcount in 2010, while 25 per cent planned more job cuts, down from nearly half who slashed jobs last year.

"Last year we clearly were in a crisis mode," said Dennis Nally, global chairman of the consultancy group.

"CEOs are much more optimistic today, although there is a fair amount of caution as well, and the concerns depend on where you sit. If you are a CEO in a developing country you are feeling much more upbeat than CEOs in the developed world."

The survey was released on the opening day of the World Economic Forum, where 2,500 of the world's business and political elite are meeting in the wake of the economic crisis.

Markets have been buoyed by $5 trillion of cheap money, designed to float the global economy off the rocks, but as governments and central banks prepare exit strategies many business leaders see only a slow recovery.

Companies have eased up on layoffs but remain reluctant to hire beyond the minimum needed to deal with the weak upturn.

"I don't think for the next 12 months you are going to see any significant job creations coming out of this," said Nally, noting even CEOs adding jobs are often expanding their workforces by 5 per cent or less.

MULTI-SPEED RECOVERY

Still, things are looking a lot better than 12 months ago.

Overall, 81 per cent of CEOs worldwide are confident about revenue prospects for the next 12 months, up from 64 per cent a year ago, and 31 per cent are "very confident", up 10 per centage points from last year's low.

PwC rival Accenture paints a similar picture of an improving business mood, but adds stock market expectations have been running ahead of the day-to-day reality experienced in corporate boardrooms.

"Everyone is trying to work out where we are in a cycle. But the interesting thing is that it is not one place because we are clearly in a multi-speed world at the moment," said Mark Foster, Accenture's group chief executive for management consulting.

Companies that have weathered the downturn in reasonable shape are now looking for opportunities to move ahead of rivals, as evidenced by Kraft Foods Inc's acquisition of British chocolate maker Cadbury Plc, Foster added.

"If you are the first mover, there are bargains to be had. There is a window of opportunity over the next 12 to 18 months," he said. Source: Indian Express Finance

Corporate Real Estate: Another Area of Real Estate

The article 'Corporate Real Estate: Another Areas of Real Estate' is written by Zaiton Ali, Department of Accounting and Finance, Universiti Putra Malaysia. The article is structured as follows:

Part-I: 

• Introduction 
• Definition

Part-II:

• The differences between CRE and Property Management

Part-III:

• The differences between CRE and Facilities Management

Part-1

Introduction:

The term corporate real estate (CRE) is often confused with other aspects of the real estate areas especially the property management and facilities management (FM). This article intends to introduce CRE and its differences in comparison to property management and FM.

Definitions:

Corporate real estate refers to the use of real estate, as part of business operations and associated activities (Brueggeman and Fisher, 2001). CRE applies to properties that are either owned or leased by firms to achieve corporate objectives (Brown et al, 1993). The management of CRE is known as corporate real estate management (CREM) and was defined by Brown et al (1993) as “the optimum use of all real estate assets utilised by a corporation in pursuit of its primary business mission”. CREM contributions to the firm are translated through various activities including property acquisition and development, property management, financial analysis and miscellaneous activities such as leasing, development packaging, and brokerage (Gale and Case, 1989). It is apparent that the management of CRE involves broader aspects of real estate management ranging from routine day-to-day property management to higher-level activities of long-term CRE strategic planning and asset management.

The Differences between CRE and Property Management:

Property management involves the execution of the day-to-day tasks in order to enable the real estate assets to function properly. These tasks include three broad property management areas, namely; administrative, marketing and physical management. The administrative management involves rental collections, record keeping and reporting, while the marketing management comprises the marketing strategy, tenant selection and rental schedules. Physical management is concerned with maintenance and rehabilitation or renovation of the real estate assets (Brown et al, 1993).

Property management focuses more on building maintenance, and concentrates on fulfilling customers’ needs and satisfactions. Baldwin (1994) defines property management as, “the total care of the building during the operation stage; the extent of management service will vary according to the building’s use, quality, size, location and age, the ownership profile, and the capability and strategy of the property management company itself”. This definition implies that the property must be in its “operation stage”, meaning that the property is used by the organisation to undertake its main functions such as office accommodation to house the management and administrative staff (Gibson, 1994). The extent of management service depends on various factors, as mentioned in the definition. For instance, a high quality building would require higher management and maintenance standards (Baldwin, 1994). An older building may need more attention because there is tendency for facility failures. In addition, high maintenance costs are anticipated for this type of building.

Gibson (1994) points out the different perceptions on property management by users and property managers. The property users are usually concerned with minimising costs of occupancy and obligations. This is in contrast with property managers, who perceived property management as a technical skill and challenge. The property needs to be maintained, involves a lease that needs to be reviewed, accommodation that needs to be refurbished, and a tax liability that needs to be minimised.

From the definitions of property management, it can be concluded that there are significant differences between property management and CRE as outlined in Table 1. The former involves a day-to-day property maintenance and management, which requires personnel with more technical skills. The latter comprises the strategic use of real estate to support the business operation, and requires personnel with more managerial skills.

Table 1: 

Summary of Differences between Property Management and CRE

The Differences between CRE and FM

Another real estate area that needs to be distinguished from CRE is FM. FM is concerned with coordinating the needs of people, equipment, and operational activities into physical workplace (Brown et al, 1993). The tasks related to the FM department are acquisition and disposition, physical upkeep, record keeping, and reporting tasks for corporate-owned real estate. The US Library of Congress defines FM as “the practice of co-ordinating the physical workplace with people and work of the organisation integrates the principles of business administration, architecture and the behavioural and engineering sciences”1 . Amaratunga (2000) argues that the definition is very broad and should incorporate at least three principal aspects as forwarded by Barrett (1994). The three aspects are:

1. it is a supporting management function to the core business of the organisation

2. it concentrates on the area of interface between physical workplace and people

3. it requires a multi-skill approach.

Another definition discussed by Amaratunga concerning FM is forwarded by the Centre for Facilities Management of University of Strathclyde (1992), namely “ the process by which an organisation delivers and sustains a quality working environment and delivers quality support services to meet the organisation’s objectives at best cost”.

From the definitions, it is argued that the FM function is to support the core business of the organisation, which is similar to the function of CRE. However, the scope of CRE is wider as it involves the strategic aspect of real estate in the organisation. FM forms part of the CRE activities and it is operative in nature. The facilities department is perceived to be reactive and receives orders from CRE officers.

These definitions also distinguish the aspects of FM from property management. FM focuses on the provision of the quality working environment through various responsibilities such as facilities design, energy conservation and environmental control. Though both fields are technical in nature, FM tends to incorporate various skills such as specialists on operational management, industrial engineering, architecture and construction (Brown et al, 1993). Property management is concerned with the satisfaction of the tenants, while FM emphasises the provision of a working environment that satisfies the staff and workers in the organisation.

Zeckhauser and Silverman (1983) differentiate property management from FM by pointing to the distinction that property managers tend to consider business and real estate costs separately in order to protect business activity while reducing real estate costs. The facilities manager does not distinguish between buildings and the activities that go on in them. In fact, the FM role is to provide its services according to the business operation. For instance, when a business intends to expand its manufacturing operation, the facilities manager will consider the plan to accommodate this activity including site selection, location analysis, factories design for processing and assembling activities, space requirement and others. The differences between FM and CRE are summarised in Table 2.

Table 2:

Summary of Differences between FM and CRE

Conclusion

From the review of literature, it can be concluded that CRE role is a wider real estate area and is concerned with the strategic role of real estate management within an organisation. Both property management and FM are part of the operations under CREM. An attempt to classify the activities of each discipline is shown in Figure 1 and some activities are seen to overlap between property management and FM especially on the aspects of building maintenance and record keeping or real estate inventory of a business organisation. The responsibilities of the CRE executives are to strategise the CREM function and co-ordinate the two departments for the real estate operation, in order to support the overall business operation.

Legend:

A: CRE activities: Strategic real estate management inclusive of FM, property management, and financial analysis.

B: FM activities: acquisition and disposition, and facilities provision

C: Building maintenance and record keeping

D: Property management activities: administration and marketing

References

Amaratunga, D. (2000) “Assessment of FM Performance”, Property Management, 18(4), pp258-266.

Baldwin, G. (1994) “Property Management In Hong Kong: An Overview”, Property Management, 12(4), pp18-23.

Brueggeman, W. and J. Fisher, (2001) Real Estate Finance and Investments, McGraw Hill, USA

Brown, R. Arnold, A. Rabianski, J. Carn, N. Lapides, P. Bianchard, S. and Rondeau, E. (1993) Managing Corporate Real Estate, John Wiley and Sons, Inc., USA.

Gale, J. and F. Case, (1989) “A Study of Corporate Real Estate Resource Management”, Journal of Real Estate Research, 4(3), pp 23-34.

Gibson, V.A (1994) “Strategic Property Management: How Can Local Authorities Develop a Property Strategy?”, Property Management, 12(3), pp 9-14.

Zaiton Ali (2006) Corporate Real Estate Strategy and the Implications on Financial performance of Companies in the UK and Malaysia, Unpublished PhD thesis, Faculty of Engineering, University of Ulster, UK

Zeckhauser, S. and R. Silverman, (1983) “Rediscovering Your Company’s Real Estate”, Harvard Business Review, pp 111-117.

Components of Corporate Real Estate Management

Components of Corporate Real Estate Management

1. Systematical Portfolio management

Structure of Portfolio (divided into operating/expendable)

·   Land data

·   Tenant/renting data

·   Valuation

·   Recording of Contaminated site

Portfolio analysis

·   Structuring

·   Comparing

·   Execution strategy

Exploitation concept

·   Selling/buying

·   Renting/leasing

·   Rental right

·   Lending

Developing

2. Project development

Feasibility-Study

·   Market/location analysis

·   Utilization concept

·   Capital budgeting

Development concept

·   Exploitation concept

·   Financing model

·   Marketing concept

Marketing

·   Investors

·   Tenants/buyers

3. Exploitation Management

Division into short-term, medium-term and long term exploitable land

·   Return potential

·   saving potential

Marketing concept

·   Object processing

·   Actions / Events

·   Public Relation

Financing concept

4. Facility-Management

Technical concept/Building technology

·   Supply & disposal

·   Recycling

Infrastructural concept

·   Land & area Planning

·   Cost recording

·   Services

Commercial concept

·   Controlling

·   Object accountancy

·   Financing

Corporate Real Estate Management

The Components of Corporate Real Estate Management

Oliver Breitenstein, Alexander May, Friedrich Eschenbaum*

The part of real estate assets of companies is in many cases more than 50 % of the total assets depending on the valuation approach and the related specific real estate costs represent the second largest cost factor after the personnel expenses with 5 to 10 % of the total turnover.

This fundamental asset and cost efficiency of corporate real estates has been underestimated up to now and requires strong cost awareness has been enforced in business enterprises as well as in the public sector.  Production and administration has been optimized. Organizational methods, e. g. Lean-Management, Just-In-Time, manufacturing segmentation a.s.o. have been a reorganization of the pure functional preserving administration of corporate buildings. In the last years a established in the market. Nevertheless, the real estate sector is treated quite badly by lots of people. Due to more and more difficult cyclical influences and an increasing cost-push it is the time to optimize this pool of costs.

The term Corporate Real Estate originated in the USA should provide remedy and optimization in this matter by using new strategies. In   the meantime, some companies have introduced this professional real estate management. Approaches for the exploitation of unused expendable land and for otherwise utilization of redundant building areas have been found. In many cases inventory analysis show that more than 20 % of corporate real estate are not necessary and thus, can be exploited. By professional Corporate Real Estate Management important funds can be released in order to finance the restructuring process of the German economy with the necessary capital needs. Land and real estate are developing as a new resource for the companies’ strategy.

Real estate - also known as fifth resource of a company - after work, capital, technology and information will be involved in the company’s policy with the philosophy CRE as a strategic management technique.

Basic considerations are the representation and development of increase in value potential for not operating areas and reversed, a exploitation of cost reduction potentials for operating areas and objectes.

The objective of CRE is the making of a return from real estate without changing the head branch of a business. Furthermore, the Corporate Real Estate Management is able to make a contribution for the securing and strengthening of the competitiveness of a company - in principle, real estate offers lots of possibilities.

Strategies and methods of CRE should make a contribution that company objectives will be supported and finally reached better. Company-owned resources will be used more intensively, costs will be reduced and synergy potentials will be shown.

CRE means the bringing in of specific real estate knowledge in the field of corporate real estate (according to fig. 1).

The objective is an increasing profitability of the company.

The substantial tasks of CRE can be divided into four groups:

Wording of real estate-related objectives and strategies for setting up the developing direction of the real estate dimension of a company and adaptation to changing environmental conditions.

Optimal utilization and allocation of real estate-related resources and capacities from the real estate field (consideration of internal and external user requirements).

Fig. 1

The competent decision makers for the real estate management control the operative real estate activities which are rendered normally decentralized and primarily under utilization of external service companies.

To bring about an optimal coordination between real estate strategies and general competition strategies of a company or its business segments with a view to an improvement of the efficiency and thus, of the competitiveness of the total system.

Areas of responsibility in the Corporate Real Estate:

At the beginning of the realization of the CRE in an industrial society the most large-scale but most important step has to be fulfilled in the form of an inventory in which all objects, areas and buildings have to be recorded systematically and herewith, a valuation of the stock has to be executed according to the market criterions (e.g. comparable rents) and use (e.g. production hall).

When all objects are recorded the portfolio has to be separated systematically into operating and not operating (expendable) areas and buildings.

Expendable areas and buildings will be allocated to the sale (direct exploitation) or to the project development (classification in corresponding exploitation models) on conditions of an exploitation management. For operating areas and building plants an internal rent will be introduced. Here, it is important that the incidental expenses will be accounted for user-specific (possibly without allinclusive prices). In case of internal rents it has to be paid attention to the fact that these rents have to be levied analogically to comparable market conditions and have to be adjusted to comparable rents of the regions in corresponding intervals.

Later on an optimization of the used portfolio will be executed. By project development (PE) the expendable areas should be allocated to exploitation according to corresponding version models. The objective of this is to run the different stages of the increase in value in the added value chain in order to generate a maximum return.

By a correspondingly organized Facility Management (FM) a cost optimization should be executed for all operating objects with the objective of a cost reduction.

The number of enterprises which run an active real estate management is slowly but steadily increasing. We have to mention here IBM, American Express, BASF, Deutsche Bank AG a.s.o..

The “Union Pacific Railroad Company” let valued 22 000 miles of land alongside the railroad. The result of this examination has been unused parts of land with an amount of about 250 to 300 million Dollars with which the revenue of a company could increase by 15 to 20 %.

Annually “the Mellon Bank” raised 150-160 million Dollars as expenses for office use. Advisors have valued more than 30 locations in the Northeast of America new and have obtained cost reductions of about 20 % by sale, change of utilization and external renting of almost 40.000 m².

ABB (Asea Brown Boveri), an international electronics company with 42 million m² of land and 12 million m² of useable floor space in 33 states has reduced its portfolio of useable floor space in Swiss by 40 % by using active real estate management.

*May, Alexander/Eschenbaum, Friedrich/ Breitenstein, Oliver: Projektentwicklung im CRE Management, 

Leitfaden zur Ausschöpfung von Wertsteigerungs- und Kostensenkungspotentialen im 

Flächenmanagement, Berlin, Heidelberg, New York 1998, Springer Verlag, ISBN 3-540-63489-4