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Requirement
Task 3
A literature review ( chapter 2)
A literature review is an evaluative report of information found in the literature related to your research topic. The review should describe, summarize, evaluate and clarify this literature. It should give a theoretical base for the research and help you determine the nature of your research.In writing the literature review, the purpose is to convey to the reader what knowledge and ideas have been established on a topic. The literature review must be defined by a guiding concept (e.g. your research objective, the problem or issue you are discussing or your argumentative research).
Relevant materials will probably comprise a range of media:
• books (monographs, text books, reference books);
• The Internet – via search engines.
• articles from journals, whether print or electronic (but make sure electronic journals have been subject to the peer review process);
• newspaper articles;
• historical records;
• government reports and statistical information;
• theses and dissertations;
• other types of information which may be relevant to your research topic.
Instructions
• The A literature reviewshould be approximately 3 pages long.
Solution
Internet Adoption by Real Estate sector in UAE
Literature Review
In early 2000, the real estate sector was regarded as a way of promoting and supporting the rapid economic growth of the United Arab Emirates (UAE). This has led to a massive investment in iconic and ambitious infrastructure and construction projects, and it was noticed that the GDP in the year 2008-2009 accounted for around more than 25%. The exceptional development in the UAE's development and real estate had Dubai and Abu Dhabi observing the most astounding increment in the quantity of construction projects. Dubai has seen a noteworthy boom in the development and land area, making it a center for a portion of the world's greatest development organizations, including Nakheel PJSC and Emaar Properties PJSC. Abu Dhabi is additionally a noteworthy center point for development organizations, including Aldar Properties PJSC. Critical development ventures have additionally been done in different emirates.
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As proposed by Razali et al. (2010), a wide scope to achieve potential customers is provided by the internet and hence plays an essential part in the effective business operation. Moreover, e-business can make new business techniques that can further exploit elevated level of interaction amongst the suppliers and clients while expanding higher opportunities for a unification of business and various market logics and furthermore provides the reduction in production cost (Davidson, 2013).Cherif, (2014)expressed that e-business has the enhanced the structure of real estate whereas Ifinedo (2011) expressed that the internet and its advent has resulted in the generation of revenue and enhanced the performance of small and large business firms globally.
The real estate industry in UAE has been on an upward pattern, and this has prompted an expansion in the quantity of real estate business and its agents all through the nation. A study by Gee (2010)demonstrates that the estate agency is information based and plays an intermediary role connecting the sellers and buyers of property. A comparative perspective shared by Li and Chen (2006) that the internet gives a chance to the real estate agents for making a difference in their practice that gives them an edge over their rivals. With the e-business innovation and its flexibility, organizations can extend their administrations to incorporate more choices accessible to the site visitors (Zhang et al. 2010). In the meantime, UAE has turned into the third largest internet market globally and in the middle-east and the measures of internet, clients have increased significantly(Sinclair, 2013).
These trends have been underlined by are another era of real estate portals that have entered the UAE market in the recent years. These add to a more developed online real estate market. Throughout the years, there has been a solid propensity for users to be faithful to the vertical portal, making the underlying capture of clients very critical to establish a long-term advantage. (Lin & Wang, 2013)
Portals have started to advance displaying another medium for possible future transactions. The evolution of portal has prompted trends that emerge and globalize existing markets by building up a complete acquirement stage administration, empowering business rehearses (Mathews, Bianchi, Perks, Healy, &Wickramasekera, 2015).
Zumpano et al. (2002) and (Cherif, 2013)contemplated the execution of innovation in real estate. Cherif (2013) recommended the real estate agents use some technological, for example, the lockbox for reduction of communication time. Zumpano et al. (2002) agreed to it additionally stressed that internet services in real estate will bring about new online applications that will advantage home purchasers.
Then again, properties that were already out of reach for some individuals now appear to be more open, and this might be certain news for individuals who were not ready to contribute and enter the business sector prior. While trying to balance out the business sector, the administration is presenting different regulations making it more cordial for end clients as opposed to theorists. The legislature will keep on backing the division with enactment and liquidity as and when required. Also, a fall in the cost of development materials flags an open door for organizations to finish the tasks as of now in the pipeline with least expenses. The clients and consumers who wish to seek real estate go online for a plethora of reasons like the large and fresh inventory or for the opportunity of personalizing their search results, price transparency and simultaneously having the possibility of connecting with myriads of agencies easily (Google & Usage, 2016).
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Cherif, E. (2014). Real estate services structure evolution with internet and SWOT analysis. IJECRM, 8(4), 200. http://dx.doi.org/10.1504/ijecrm.2014.067510
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Razali M. N., Manaf Z., Yassin A. M., (2010),"Internet business strategies by property companies in Asia", Property Management, Vol. 28 Iss: 4 pp. 270 -289.
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Davidson, C. (2013). Innovation in construction – before the curtain goes up. Construction Innovation, 13(4), 344-351. http://dx.doi.org/10.1108/ci-02-2013-0007
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Ifinedo P., (2011), ”Internet/e-business technologies acceptance in Canada’s SMEs: An
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exploratory investigation” Internet Research Vol. 21 No. 3, 2011 pp. 255-281.
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Li L. H., Chen W., (2006),"Real estate agency in China in the information age", Property
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Management, Vol. 24 Iss: 1 pp. 47 – 61.
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Sinclair, K. (2013). UAE has third most internet users in the Middle East | The National. Thenational.ae. Retrieved 22 April 2016, from http://www.thenational.ae/business/technology/20131003/uae-has-third-most-internet-users-in-the-middle-east
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Mathews, S., Bianchi, C., Perks, K., Healy, M., &Wickramasekera, R. (2015). Internet marketing capabilities and international market growth. International Business Review. http://dx.doi.org/10.1016/j.ibusrev.2015.10.007
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Google, T. & Usage, G. (2016). Growth in the UAE’s Real Estate Market Mirrors Increasing Internet Usage. Thinkwithgoogle.com. Retrieved 22 April 2016, from https://www.thinkwithgoogle.com/intl/en-ae/article/online-real-estate-in-the-uae-trends-and-insights/
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Zumpano, L., Johnson, K., & Anderson, R. (2003). Internet use and real estate brokerage market intermediation. Journal Of Housing Economics, 12(2), 134-150. http://dx.doi.org/10.1016/s1051-1377(03)00018-4
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Cherif, E. (2013). Analysis of the Internet Impact on the Real Estate Industry. International Journal Of Service Science, Management, Engineering, And Technology, 4(3), 51-67. http://dx.doi.org/10.4018/ijssmet.2013070104
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Lin, Y. & Wang, Y. (2013). Study on Business Integration Strategy for Real Estate Development. AMR, 838-841, 3135-3141. http://dx.doi.org/10.4028/www.scientific.net/amr.838-841.3135
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