@article{ART001831814},
author={송석주 and In Kwon Park},
title={A Study on the Risk Reduction of Development Projects through the Managerial Land Trust},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2013},
volume={23},
number={3},
pages={181-205}
TY - JOUR
AU - 송석주
AU - In Kwon Park
TI - A Study on the Risk Reduction of Development Projects through the Managerial Land Trust
JO - Korea Real Estate Review
PY - 2013
VL - 23
IS - 3
PB - korea real estate research institute
SP - 181
EP - 205
SN - 2092-5395
AB - This study aims to identify risk factors in real estate development projects and to investigate how the managerial land trust (MLT) can reduce the expected risk factors. Specifically, we inquired into the following: First, we investigated how the MLT works and who participate as interested parties in the real tate development process by reviewing the literature, legal system, and existing studies. Secondly, we identified risk factors that are expected to come out significantly during the real estate development, through literature review, and a survey and interviews with three relevant parties, developers, contractors, and financial institutes. Thirdly, we surveyed the three relevant parties to see how the three relevant parties expect the MLT to decrease the risk factors. We also investigated the expected effect of the MLT on the risk factors through a case study. The findings of this study are as follows: First, in real estate development projects with developers and contractors separated, the different parties are exposed to different risk factors. Second, the relevant parties with development projects expect that utilizing the MLT will significantly decrease the risk factors, in particular, contractors’ bankruptcy, limited real rights for the land and project, and sales fraud. The case study results also confirm their expectation of mitigating risks. These results suggest that effective utilization of the MLT will decrease or avoid possible risk factors in the process of development projects.
KW - real estate development projects;risk factors;real estate trust;managerial land trust
DO -
UR -
ER -
송석주 and In Kwon Park. (2013). A Study on the Risk Reduction of Development Projects through the Managerial Land Trust. Korea Real Estate Review, 23(3), 181-205.
송석주 and In Kwon Park. 2013, "A Study on the Risk Reduction of Development Projects through the Managerial Land Trust", Korea Real Estate Review, vol.23, no.3 pp.181-205.
송석주, In Kwon Park "A Study on the Risk Reduction of Development Projects through the Managerial Land Trust" Korea Real Estate Review 23.3 pp.181-205 (2013) : 181.
송석주, In Kwon Park. A Study on the Risk Reduction of Development Projects through the Managerial Land Trust. 2013; 23(3), 181-205.
송석주 and In Kwon Park. "A Study on the Risk Reduction of Development Projects through the Managerial Land Trust" Korea Real Estate Review 23, no.3 (2013) : 181-205.
송석주; In Kwon Park. A Study on the Risk Reduction of Development Projects through the Managerial Land Trust. Korea Real Estate Review, 23(3), 181-205.
송석주; In Kwon Park. A Study on the Risk Reduction of Development Projects through the Managerial Land Trust. Korea Real Estate Review. 2013; 23(3) 181-205.
송석주, In Kwon Park. A Study on the Risk Reduction of Development Projects through the Managerial Land Trust. 2013; 23(3), 181-205.
송석주 and In Kwon Park. "A Study on the Risk Reduction of Development Projects through the Managerial Land Trust" Korea Real Estate Review 23, no.3 (2013) : 181-205.
