Optimizing Sustainable Value: The SCREAM Framework for Corporate Real Estate Asset Management
摘要
The strategic alignment of corporate real estate (CRE) strategy with sustainability practices and digital transformation (DT) initiatives has become vital for organizational success. Corporate real estate management (CREM) has transitioned from a facilities-oriented function to a strategic contributor to corporate performance. This entails alignment with organizational goals amid growing expectations for coworking adaptations, operational efficiency, and sustainability. A systematic literature review (SLR) and content analysis techniques were utilised in the development of the framework. The SLR yielded 167 high-quality studies from 6 multidisciplinary databases published from 2014 to 2024. These articles underscored the critical importance of digital tools, sustainability metrics, and strategic frameworks in enhancing CRE's contribution to long-term value creation. For the content analysis, business reviews were extracted from company-integrated annual reports, encompassing 301 reports from REIT JSE-listed organizations and 557 reports from JSE Top 40 organizations, spanning 2018 to 2024. The content analysis findings support the SLR by highlighting leadership's focus on sustainable development and ESG initiatives and the application of digital technologies such as AI, IoT, and machine learning for CRE sustainability. Both validated the emphasis on long-term strategic planning for value creation in broad real estate strategies. Drawing from the SLR and content analysis, this paper proposes a theoretical Sustainable Corporate Real Estate Asset Management (SCREAM) framework for corporate and real estate management strategies to enhance construction design, workspace planning, facilities management (FM), and environmental monitoring using digital technology. The proposed framework outlines a roadmap for future academic research and standardization.