Post-occupancy evaluating of low income housing in the Kingdom of Dissertation

Post-occupancy evaluating of low income housing in the Kingdom of Saudi Arabia - Dissertation Example 13 Pictures(3) Showsthe region of Ha’il, with the pleased of the project. 13 Pictures(4) Site plan of the Al-Ghazalah project 13 Pictures(5) Site plan of the Al-Ghazalah project 15 Pictures(6) Ground floor plan 15 Post-Occupancy Evaluation of Low Income Housing in the Kingdom of Saudi Arabia Chapter 1 Introduction Housing demand is one of the most important issues and challenges that face developing and developed countries (Al-klyfh, 2009). These countries have tried to solve their housing demands with different policies. Some policies and proposals have met the needs of different levels of society. One of these economic classes is called the low income group that encompass some Saudi Arabian people with low annual income. To address the issue on housing income, the government tried to establish residential complexes, an introductory concept and still under trial. This paper will focus on low income housing post occupancy evaluation as the main issue. The housing policy will b e assessed using the post-occupancy evaluation method (POE). However, before investigating the Saudi Arabian policy, it is important to investigate the different international policies for low income housing. 1.1. International policies for low income housing Many institutions, international agencies and local communities around the world have for many years now addressed poverty, increase standards of living,as well as provide adequate shelter for the poor (United Nations Centre for Human Settlements, 1987).These UN programs were allocated in 155 countries and have established national centres that work directly with various local government agencies (Tiesdell, 2004). Important processes that have been followed are: a. Secure possession of the land. b. Provide public facilities and services. c. Finance low-cost housing d. Provision of construction materials. e. Community participation. f. Cooperation with the private sector and non-governmental organizations (NGOs) (Tiesdell, 2004) . A review of socio-economic policies indicates that there is a growing interest in the issue of housing for the poor by civil society organizations and governments of many countries. A limited review on Saudi Arabia and the United Kingdom low cost housing will be included due to time constraints. 1.1.1. Affordable Housing in the UK Housing policies in Britain has local planning authorities mandate developers of housing projects to provide a certain percentage of affordable housing for low income groups (Tiesdell, 2004). The two aims are as follows: a. Social: sustain a mixed community in terms of income and social level and reduce illegal settlements that lack basic services b. Economic: shoulder part of the burden of financing in order to allow beneficiaries provided with lower prices than the market price or rent housing (social security) at less than the prevailing costs. UK housing, however, did not meet stated objectives, such as acceptance from high-income and middle classes due to preference

Financial Analysis of Granite Construction Industry Plc Essay

Financial Analysis of Granite Construction Industry Plc - Essay Example (Penman, 2003). In addition, investors consult investment analysts who provide an almost endless stream of information and recommendations to sort out. There are often claims that some shares are undervalued and vice versa. (Penman, 2003). This information at times becomes confusing leaving the investor with no clear indication of what the true prices of stocks should be. (Penman, 2003). Under such circumstances, the investor is forced to make the investment decision following his/her instinct or based on the information provided by the market. (Penman, 2003, Kaplan & Norton 1992, 1993). Investors who make the decision based on instinct are referred to as intuitive investors while those who make investment decisions based on capital market efficiency are referred to as passive investors. (Penman, 2003). Passive investors carry out their investment decisions based on the assumption that the market price is a fair price for the risk taken, that is, that market forces have driven the price to the appropriate point. (Penman, 2003). These investment mechanisms appear to be very simple, as they do not require much effort. (Penman, 2003: pp 3). However, both investors run risks that are even more than the risks of the firms they are investing in since they can either pay too much or sell for less and as a result suffer a decrease in returns on their investments. (Penman, 2003). According to Penman (2003), the intuitive investor has the problem of the intuitive bridge builder: "one may be pleased with one's intuition but, before building gets underway, it might pay to check that intuition against the calculations prescribed by modern engineering as not doing so, may lead to disaster". (Penman, 2003: pp 3). The passive investor runs the risks of either paying too much or selling for less should stocks be mispriced. (Penman, 2003). Although economic and modern finance theory (Bodie et al, 2002; Penman, 2003) predict that capital markets are perfect it is good practice to check before taking action. (Penman, 2003). Therefore, both the passive and intuitive investor run the risk of trading with someone who has done his homework well, that is, someone who has analysed the information thoroughly. (Penman, 2003). This study is aimed at carrying out financial analyses of Granite Construction Plc with particular focus on the liquidity, profitability and solvency ratio so as to gain a reasonable basis for providing recommendations to investors and suppliers on whether to invest or continue business for the company, and finally see the various methods through which the company access the capital market. Having said this,