TABLE OF CONTENT
Table of content
1.1 Background of the study
1.2 Statement of problem
1.3 Research questions
1.4 Objective of the study
1.5 Significance of the study
1.6 Scope of the study
1.7 Definition of terms
2.2 conceptual review
2.3 empirical review
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.2 Data analysis
The importance of construction project development in a society cannot be over emphasized. In as much as this project are essential to human development, environmental consideration may be impaired without a good knowledge and successful management of environmental factors influencing the performance and execution of such projects. This study aims to assess the importance of environmental consideration in property development in Nigeria. The researcher randomly select 300 respondent across the faculty of environmental science as the population of the study. The researcher adopted the survey and descriptive statistics as research methodology, the method of data collection was the questionnaire as the researcher adopted a primary method of data collection, and the method of data analysis was the percentage method and Chi-square statistics. At the completion of the study it was found out that the quality of the surrounding environment influences the value of property. For this reason, the term “residential property” should be used in a broader context in standard appraisal practice.
- Background of the study
Property development is predetermine by the environmental disposition and serenity. (Sedeke 2020). Environmental consideration is seen as the driver of landed property development. Landed properties include residential, commercial and industrial buildings which are income yielding. In normal situation these properties appreciate in value and the higher the value the more rental income generation. Delta is one of the metropolitan cities in Nigeria and a center of attraction stimulating residential, commercial, and industrial and other numerous development activities. It is expected that Delta continues to witness dynamic property development and booming property market. The nature of real estate business in Delta is traceable to private investors. Squatter settlements, slums, spontaneous development, illegal or unauthorized development and plots creations usually arose through the initiatives of the private sector, both organized groups and individuals. (Omuojine, 2014).
For Nigeria and other African countries, the situation of socio-economic development at the heart of the environmental discourse fell surely in line with what is already considered the main agenda of the African state; development. After all, the post-colonial African state, by its origins and political exigencies, has been forced to assume the image of a developmental state (Egwu, 2016). But beyond the political considerations, the objective realities of the effects of climate change and environmental degradation have already become real issues in Nigeria. Increased problems of water shortages, floods, droughts and desertification which threaten food security and human survival have become symptomatic of the effects of the ailing status of the environment on the Nigerian society. For instance, in the past few years, most urban and rural communities have suffered from floods with the situation in year 2012 being recorded as the worst in recent times (Adejumo and Adejumo, 2014; Odermeho, 2013). This in addition to the continuing herders versus farmers conflict which has resulted in tremedous losses in lives and property, and has been attributed to climate change, albeit indirectly.
The project environment in many developing countries like Nigeria present special challenges for project managers that almost presupposes extensive cost and time overruns even before a project commences. These challenges arise mainly from inherent risks such as political instability, excessive bureaucratic contract procedures, and lack of adequate infrastructure such as transportation networks, electricity supply, and telecommunications systems. In recognition of these unique problems, previous research studies have suggested that there is a need to develop appropriate management tools and techniques specifically tailored to the project environment of developing countries (Faniran et al. 2012). The project environmental factors that have been generally identified include; political, legal, institutional, cultural, sociological technological resource, economic, financial, and physical infrastructure (Walker 2019). According to (Ajayi 2010) the four most important external environmental factors in decreasing order include community issues, weather conditions, economic situation (boom or meltdown) and government policy. Project performance, according to (Cheung et al 2014), can be measured and evaluated using a large number of performance indicators that could be related to various dimensions (groups) such as time, cost, quality, client satisfaction, client changes, business performance, health and safety. Generally, performance dimensions may have one or more indicators, and could be influenced by various project characteristics. For example, Iyer and Jha (2015) identified many factors as having an influence on project cost performance, these include: project manager’s competence, top management support, project manager’s coordinating and leadership skills, monitoring and feedback by the participants, decision-making, coordination among project participants, owners’ competence, social condition, economic condition, and climatic condition. Coordination among project participants, however, was identified as the most significant of all the factors, having maximum influence on cost performance. The studies of Love et al. 2015)
- STATEMENT OF THE PROBLEM
The choice of residential location is largely determined by environmental factors, the consumers’ financial standing, preferences and needs which arise in view of their personal circumstances, such as the number of children and environmental consideration. In this studies, property location and environmental consideration were the major variables. Ideally, the accessibility of a location is a measure of how well transportation networks interact with land use attributes to satisfy household, business or other preferences. (Srour et al, 2012). It is no news that environmental factors such as good roads, pipe born waters, solid waste management and air and water pollution has become a modern day pandemic in the study area (Delta state) which constitute a major problem of the study as these problem is a determining factor in property development.
- OBJECTIVE OF THE STUDY
The study has one main objective which is further broken down into general and specific objective; the general objective is to ascertain the importance of environmental consideration in property development in Delta state while the specific objective are;
- To examine the effect of environmental consideration in property development in Delta state Nigeria
- To ascertain if there is any significant relationship between environmental consideration and property development in Delta state
- To examine the role of government in enhancing property development in the study area.
- To proffer suggested solution to the identified problem
- RESEARCH QUESTION
The following research questions were formulated by the researcher to aid the completion of the study;
- Does environmental consideration has any effect in property development in Delta state Nigeria?
- Is there any significant relationship between environmental consideration and property development in Delta state?
- Does government play any role in enhancing property development in the study area?
- RESEARCH HYPOTHESES
The following research hypotheses were formulated by the researcher to aid the completion of the study;
H0: There is no significant relationship between environmental consideration and property development in Delta state
H1: There is a significant relationship between environmental consideration and property development in Delta state
H0: Government does not play any role in enhancing property development in the study area
H2: Government does play a role in enhancing property development in the study area
- SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to estate developers as the study seek to explore the environmental factors that propel and inhibit property development in the study area, the study will also be of great importance to residential property owners as the findings of this study will broaden their criteria for investment decisions. The study will also be of great importance to researcher who intend to embark on a study in a similar topic as the study will serve as a pathfinder to further studies. The study will also be of great importance to students, teachers, academia’s, lecturers and the general public as the study will contribute to the pool of existing literature on the subject matter and also contribute to knowledge.
- SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the importance of environmental consideration in property development. But in the course of the study, there are some factors that inhibit the scope of the study;
AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
TIME: The time frame allocated to the study does not enhance wider coverage as the researcher have to combine other academic activities and examinations with the study.
FINANCE: The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover.
1.8 OPERATIONAL DEFINITION OF TERMS
Land, sometimes referred to as dry land, is the solid surface of Earth that is not permanently covered by water
Landed property (LP)
Landed property or landed estate is a property that generates income for the owner without the owner having to do the actual work of the estate.
The environment encompasses all living and non-living things occurring naturally, meaning in this case not artificial
Environmental pollution (EP)
Environmental pollution is defined as “the contamination of the physical and biological components of the earth/atmosphere system to such an extent that normal environmental processes are adversely affected
Environmental degradation (ED)
Environmental degradation is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the extinction of wildlife; and pollution
Property development (PD)
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others
1.9 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows
Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.