Towards circular economy: An analysis of opportunities and challenges to residential real estate investment companies
Loading...
URL
Journal Title
Journal ISSN
Volume Title
School of Engineering |
Master's thesis
Unless otherwise stated, all rights belong to the author. You may download, display and print this publication for Your own personal use. Commercial use is prohibited.
Authors
Date
Department
Major/Subject
Mcode
Degree programme
Language
en
Pages
90
Series
Abstract
Circular economy mainly focusses on the reduction of the environment degradation and shifts towards a take-make-dispose model to new practices that include material reduction, reuse, recycling, and recovery across the value chain. Circular economy plays a crucial role within built environment making real estate developments a significance. This thesis aims to study the opportunities and challenges of circular economy in residential real estate investment companies in Finnish context. Four research questions were answered through systematic literature review and empirical findings of interviews conducted from residential real estate investment companies. Literature review gives a strong theoretical background for the study. According to the interviewees residential real estate investments in circular economy were defined in themes of Lifecycle of the building, Resource optimization, Waste circulation, Environmental impact reduction and closing the loop. According to the interviews key opportunities were Pilot case studies and Promoting education, training, collaboration, and innovation among stakeholders while the most ranked challenges include High Transition Costs or investment costs, Lack of regulations and policy, Lack of awareness and knowledge about CE implementations and Lack of Financial support from government. According to the comparative analysis, state owned organizations perceive the opportunities of CE both strategically and structurally, but the private actors look on economic reasoning, operational efficiency and market positioning. In challenges, it needs to coordinate governance system to balance the systemic and long-term interests of the state-owned actors with the market-focused interests of the private actors. Finland has already introduced the principles of a circular economy on the national level, and residential real estate transformation is considered an important step in the sustainable urban development. Then the derived opportunities and challenges and the steps or measures taken to minimize challenges or maximize opportunities could be used as a model by residential real estate investment companies.Description
Supervisor
Jylhä, TuuliOther note
Attachment notes
Description:
Structured Interview used for data collection interviews.
Attachments:
Thesis_DulaniRamanayake_appendix1.png.pdf