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Harkin, F and Gunning, J G (1999) Evaluating quality in construction. Journal of Financial Management of Property and Construction, 4(03), 65–80.

Hui, E C M (1999) Hong Kong's public housing policy: a new perspective on government intervention and rationale. Journal of Financial Management of Property and Construction, 4(03), 5–28.

Jagboro, G O and Alli, O R (1999) A study of the monetary value of extension of time in building project. Journal of Financial Management of Property and Construction, 4(03), 39–46.

Nicholas, J, Holt, G D and Harris, P T (1999) Materials suppliers: the builders' banker?. Journal of Financial Management of Property and Construction, 4(03), 29–38.

Soh, C C and Ong, S E (1999) Motivation and risk perception in foreign and domestic real estate investments. Journal of Financial Management of Property and Construction, 4(03), 47–64.

  • Type: Journal Article
  • Keywords: debt structure; financing; investment; risk; Singapore
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    Project profitability is an important, but not necessarily the main factor determining project decision-making. Among other pertinent factors are less quantifiable factors such as strategic synergy and "gut feel" or judgmental evaluation. This study examines the extent to which factors other than profitability are pertinent and quantifies their relative importance using a pair-wise comparison approach. In addition, this study analyses the extent to which the motivation and risk perception differ between domestic and foreign investments. The evidence from a survey of Singapore developers shows that while project profitability is the most important factor, a myriad of other factors are considered in real estate investment decision making. Further, there exists a preference for domestic projects / home bias in that an unjustifiably low weight is given to domestic economic and country risks. Interestingly, the financing structure and debt level for foreign investments differ from that for domestic investments.