SOURCE:

Faculty: Environmental Sciences
Department: Estate Management

CONTRIBUTORS:

Ifediora, C.O;
Egolum,C.C;
Emoh, F.I;

ABSTRACT:

This studyfocused on theanalysis of critical success factors that affectsprivate real estate projects implementation success in South East Nigeria. The objectives includes identifying the factors, ranking the impacts of the identified factors, the extent of engagement of relevant professionals, the level of satisfaction and finding outwhether developers carryout feasibility and viability appraisal on their proposed projects. A sample of 311 firms drawn from total population of 419 firms of professionals such as Architects, Builders, Engineers, Estate Surveyors and Valuers, Quantity and Surveyors was the focus of the study. Thequestionnaires featured close ended questions and matrix which weresubjected to validity and reliability test. The questionnaireswereadministered on principal consultants of the firms or most senior in the firm. Descriptive and inferential statistical test were employed using simple table and percentages, mean item Score (MIS) as well as factors analysis, multiple regression analysis and one-way analysis of variance (ANOVA). The result of the findings indicated that all the independent variables combined, have a statistically significant impact on the dependent variable except project participants, and that there exist significant difference in the opinion of professionals on the notion that the identified factors affect private real estate projects implementation in the South-East Nigeria. The factor analysis indicated that the factor loadings for all the items in the seven factors loaded, yielded significant results, hence all the items yielded resultgreater than 0.707, which implies that the factors have good fit for the factors examined. Also, the result of the ranking showed that project management action was ranked the highest among all the factors that affects implementation success followed by human-related factor. It was discovered most that respondents were also not satisfied with the level of engagement of the right professional before implementation of private real estate projects, most developers do not carry out feasibility and viability appraisals on proposed projects. The study concluded by emphasising the need to carefully take note of high ranked(critical factors); this will help in curbingreoccurring cases of failure and ensure that private real estate projects succeed.