7/29/2019 Urban Real Estate and Urban Planning

1/11

Urban Real Estate and Urban Planning

BVEV 1108

7/29/2019 Urban Real Estate and Urban Planning

2/11

PLAN VS PROJECT

Click to Website from Spectrum

7/29/2019 Urban Real Estate and Urban Planning

3/11

TOWN PLANNING ADDS VALUE

Click to Website from Spectrum

7/29/2019 Urban Real Estate and Urban Planning

4/11

Urban Planning

Planning Force

Planning is the allocation ofresources, particularly land, insuch a manner as to derivemaximum efficiency, while payingheed to the nature of the builtenvironment and the welfare ofthe community.

In this way, planning is, therefore,the art of anticipating change,and arbitrating between the

economic, social, political andphysical forces that determinethe location, form and effect ofurban development.

Market Force In the absence of town planning, land

would be apportioned betweencompeting uses by the pricemechanism and the interaction of

demand and supply. In this free-market situation, land

would be used for the purpose thatcould extract the largest net return overa foreseeable period of time,

but experience has shown that,unfettered, the market can consumeresources in an ill conceived andshortsighted

way, creating almost insurmountableproblems for generations to come.

Result in unsustainable use of landresources

7/29/2019 Urban Real Estate and Urban Planning

5/11

Real Estate

The term real estate embraces a widerange of concepts, uses and concerns.

A sense of land and property recognizes thediverse physical, legal, economic and culturalcharacteristics that can exist in differentgeographical locations and within alternativepolitical systems.

Real estate includes the interests, benefitsand rights inherent in the ownership of landand buildings.

It is thus a bundle of rights whereby eachstick in the bundle represents a distinct andseparate right to use real estate, to sell it, tolease it, to enter it, or to give it away.

These rights may be held separately orcollectively.

To varying degrees they are also subject tosuch powers of government as taxation,eminent domain, escheat, buildingordinance, administrative regulation andplanning control.

All real estate markets are influenced by theperceptions, motivations and inter-actions ofthe buyers and sellers of real property,

which in turn are subject to many social,economic, government and environmentalinfluences.

Real estate markets may be studied in termsof locational, competitive and supply anddemand characteristics as they relate tooverall real estate market conditions.

The driving force behind real estate marketsis the profit motive.

Whether the aims and objectives of thoseinvolved are short-term trading turnover,secure income flow or long-term capitalgrowth, the maximization of return

invariably remains the overriding factor inproperty investment and developmentdecision-making.

7/29/2019 Urban Real Estate and Urban Planning

6/11

Where do Real Estate & Urban Planning Meet?Reference: Ratcliffe & Stubbs, 1996

Development Plans

What to Look For in

Development Plans?

National Physical Plan

Structure Plans

Local Plans

Development Projects

How to implement

Development Projects?

Real Estate DevelopmentPlanning

Considerations

Limitation

Procedure

OSC One Stop Center Planning Permission

Plan Submission

7/29/2019 Urban Real Estate and Urban Planning

7/11

7/29/2019 Urban Real Estate and Urban Planning

8/11

7/29/2019 Urban Real Estate and Urban Planning

9/11

National

Physical Plan 2

7/29/2019 Urban Real Estate and Urban Planning

10/11

Selangor &

Kuala Lumpur

Strategic Land

Use Plan 2020

7/29/2019 Urban Real Estate and Urban Planning

11/11

Petaling District Local Plan