Considering the Feasibility of Semantic Model Design in the Built-Environment

Building Information Modeling (BIM) is the process of structuring, capturing, creating, and managing a digital representation of physical and/or functional characteristics of a built space [1]. Current BIM has limited ability to represent dynamic semantics, social information, often failing to consider building activity, behavior and context; thus limiting integration with intelligent, built-environment management systems. Research, such as the development of Semantic Exchange Modules, and/or the linking of IFC with semantic web structures, demonstrates the need for building models to better support complex semantic functionality. To implement model semantics effectively, however, it is critical that model designers consider semantic information constructs. This paper discusses semantic models with relation to determining the most suitable information structure. We demonstrate how semantic rigidity can lead to significant long-term problems that can contribute to model failure. A sufficiently detailed feasibility study is advised to maximize the value from the semantic model. In addition we propose a set of questions, to be used during a model’s feasibility study, and guidelines to help assess the most suitable method for managing semantics in a built environment.

The persistence of distance: a gravity model of European cross-border real estate development flows

Purpose – This paper aims to investigate the scale and drivers of cross-border real estate development in Western Europe and Central and Eastern Europe. Design/methodology/approach – Placing cross-border real estate development within the framework of foreign direct investment (FDI), conceptual complexities in characterizing the notional real estate developer are emphasized. Drawing upon a transaction database, this paper proxies cross-border real estate development flows with asset sales by developers. Findings – Much higher levels of market penetration by international real estate developers are found in the less mature markets of Central and Eastern Europe. Analysis suggests a complex range of determinants with physical distance remaining a consistent barrier to cross-border development flows. Originality/value – This analysis adds significant value in terms of understanding cross-border real estate development flows. In this study, a detailed examination of the issues based on a rigorous empirical analysis through gravity modelling is offered. The gravity framework is one of the most confirmed empirical regularities in international economics and commonly applied to trade, FDI, migration, foreign portfolio investment inter alia. This paper assesses the extent to which it provides useful insights into the pattern of cross-border real estate development flows.