INTERNATIONAL PRACTICES IN INVESTMENT MANAGEMENT FOR INTEGRATED REAL ESTATE DEVELOPMENT PROJECTS WITHIN URBAN SOCIAL AND ECONOMIC DEVELOPMENT STRATEGIES
DOI:
https://doi.org/10.37332/Keywords:
investment management, development projects, post-war reconstruction, urban development, real estate, public and private partnership, spatial planningAbstract
Novikov A.V. INTERNATIONAL PRACTICES IN INVESTMENT MANAGEMENT FOR INTEGRATED REAL ESTATE DEVELOPMENT PROJECTS WITHIN URBAN SOCIAL AND ECONOMIC DEVELOPMENT STRATEGIES
Purpose. The aim of this article is to systematize international investment management practices for the implementation of comprehensive development projects within the framework of urban social and economic development strategies and to identify tools that can be adapted to the conditions of Ukraine’s post-war recovery.
Methodology of research. The methodological framework is based on an interdisciplinary approach that combines tools from economic analysis, urban studies, and investment management. A comparative method was used to analyse case studies from Israel, Kuwait, Croatia, and Bosnia and Herzegovina with the aim of identifying effective models for managing investments in development projects. Methods of analysis and synthesis were applied when reviewing analytical reports from international organizations, documents from government institutions, and scientific publications. The generalization method was used to systematize international experience and formulate approaches for its adaptation in Ukraine. The structural-functional approach allowed for the investigation of the interrelationship between spatial planning, financial instruments, and the institutional environment, while the abstract and logical method enabled the formulation of theoretical generalizations and conclusions.
Findings. It has been demonstrated that some of the most effective mechanisms for implementing comprehensive development projects include the integration of spatial planning with financial instruments, the use of state and quasi-state institutions as catalysts for long-term capital, the development of public and private partnerships, the improvement of land and property registries, the provision of political guarantees for investors, as well as the digitization of the project cycle based on BIM. It is noted that the reconstruction of housing and engineering infrastructure is a necessary but insufficient condition for sustainable development if it is not accompanied by improvements in the local business climate, transparency of regulatory procedures, and support for entrepreneurship.
Originality. The paper demonstrates the feasibility of transitioning in Ukraine from piecemeal funding of development initiatives to the systematic implementation of integrated territorial projects that ensure coordinated planning of housing construction, infrastructure development, land policy, and the attraction of private capital within a unified urban investment model.
Practical value. The practical value of the article lies in its applicability to post-war recovery policy and urban investment planning in Ukraine. The proposed approach can be used by national and local authorities, regional development agencies, and private investors to design integrated territorial development projects in which housing, transport, social infrastructure, and land-use decisions are aligned within a single investment framework. It also provides a basis for improving project prioritization, coordinating public and private funding, and reducing the inefficiencies associated with fragmented reconstruction measures.
Key words: investment management, development projects, post-war reconstruction, urban development, real estate, public and private partnership, spatial planning.
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