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Top1.0 Introduction
The study focused on assessing principal factors that are critical to the success of a multi-residential development projects in Gaborone and subsequently determining their relative importance across each phase of the development. Most importantly it also assists property developers in making the right decisions when it comes to multi-owned residential developments (MORD).
Different related investigations have demonstrated that property development project performance is affected by various factors. Cooke-Davies (2002), Toor & Ogunlana (2009) and Koutsikouri, Austin & Dainty (2012) state that some of these factors may contribute to the project’s success more than others. Toor & Ogunlana (2008) observed that most of the studies on success factors for development projects are context specific. Therefore, the specific implications of these factors are constrained to the nations and societies where these investigations have been undertaken. In addition, these studies have looked at residential, industrial, commercial projects. None of the studies have specifically assessed the critical factors that are needed for MORD. Blandy et al (2010) mentions that these kind of developments are complex and dynamic, therefore a comprehensive answer on how to successfully deliver such projects is needed.
The objectives of the study were:
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To identify the key success factors useful in MORD;
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To find out the relationship between these factors and the overall success of MORD;
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To determine how the priorities and weights of these factors differ from one stage of the development process to another; and
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To propose a model to help developers succeed in such developments by utilizing these key success factors.
The investigative questions for the study were as follows:
RQ1. What are the key success factors for developing MORD?
RQ2. Is there a relationship between these factors and the success of MORD?
RQ3. From the identified factors, what are priorities and weights of these factors during the development process?
RQ4. Which model can be proposed to help developers succeed in such development types by utilizing these key success factors?
This article is arranged into six major sections. Section one is the introduction which is covered in this section and outlines the problem under study. The next section is the background of the study evolution of success factors and MORD, followed by the literature and related studies where theories of success factors and development stages have been discussed in details. The methodology section is presented in section four stating why it was appropriate to use the one which was adopted and the findings are highlighted in section five. Finally, section six presents the summary, conclusions, recommendations and further areas of study.
Top2.0 Background Of The Study
Housing is a basic need that is essential for the survival of every human being (Braubach, 2011). The continuously increasing population in urban areas has put tremendous pressure on housing providers to increase the current housing stock. Property developers have started providing intensive units with the hope of curbing the housing shortage (Easthope & Randolph, 2008). Additionally, denser residential occupancy rates have become popular with developers as they increase profits. Additionally, Kampamba, Lumbasio, Adeyemi, & Kelapile (2017) indicated that the role of private property developers is to provide housing in a most profitable way. The government is also enticed by these denser units as they are seen to reduce urban sprawl and enable inner-city regeneration (Blandy, Dixon, & Dupuis, 2006), thus achieving the sustainable development goals. Population growth and urban conjunction in many countries has led to increasing densities and many forms of real properties that replicate a compact town approach (Dredge & Coiacetto, 2011). According to Lippert & Steckle (2016) as urban space becomes more constrained, multi-owned properties are increasingly being viewed as an answer to housing needs.