Please Wait! Your file will start to download within 10 seconds automatically. Otherwise click here Download

Infrastructure Development In Global Economic Meltdown: A Framework For The Real Estate Professional’s Response


A. C. Ogbonna , V.A.Akujuru ,

Download Full PDF Pages: 54-64 | Views: 383 | Downloads: 118 | DOI: 10.5281/zenodo.3386700

Volume 1 - August 2012 (08)


The current global economic meltdown has major roots in real estate with the construction subsector being a very important economic indicator but also reacting faster to a recession arising from the usual resultant credit squeeze. As a response to recession, economic theorists recommend, among other things, investment in public goods such as infrastructure which itself is part of real estate. In agreement and to cope with the meltdown, this paper reviews the peculiarities of developing infrastructure and recommends the appropriate role for the built environment, and especially, real estate, professional from a developing country perspective. 


Infrastructure, real estate, economic meltdown, development, real estate professional.


  1. Bardi, M.C. (1998).GIS and remote sensing as tools for management of urbanization in Nigeria. The Estate Surveyor and Valuer, (21) 40-44
  2. Blankenburg, S. and Palma, J.G. (2009). Introduction: The global financial crisis. Cambridge Journal of Economics, (23), 531-538.
  3. Carper, L. (1997). Urban appeal: What investment banks bank on, The Urban Age ( 5) (2) 20
  4. Dyck, A. (2001). Privatization and corporate governance: Principles, evidence and future challenges, The World Bank Research Observer, (16) (1) 59-84
  5. Estache, A. (2001). Privatization and regulation of transport infrastructure in the 1990s, The World Bank Research Observer, (16) (1) 85-107.
  6. Gwilliam K. and Shalizi, Z. (1999). ‘Road funds, user charges, and taxes, The World Bank Research Observer, (14) (2) 159-185
  7. Holmes, S.A (2009), Fannie mae eases credit to aid mortage lending, The New York Times [Internet], [Accessed 25 September 2009]
  8. Hornby, A.S. (2006). Oxford Advanced Learner’s Dictionary of Current English, Oxford: Oxford University Press.
  9. Husband, H and Dockery, J.C.(1980) Modern Corporate Finance, Illinois.
  10. Irwin T. (1997). Responsible investing for cities and taxpayers, The Urban Age, (5) ( 2) 4-7.
  11. Irwin, T., Klein, M., Perry, G.E. and Thobani, M (1999). Managing government expos ure to private infrastructure ‘risk’. The World Bank Research Observer, (14) (2) 229-245.
  12. Israel, A. (1992) Issues for infrastructure management in the 1990s. World Bank Discussion Papers No.17, Washington, D.C.: The World Bank.
  13. Knox, N. (2006), 43% of first-time home buyers put no money down, USA Today, [Internet], [Accessed 24 September, 2009]
  14. Krugman, P. (2008), Bad anti-stimulus arguments. New York Times. [Internet] [Accessed 25 September 2009].
  15. McNeil, M. (1992). Urban issues rise on global agenda, The Urban Edge, (16) 1 -6
  16. McNeil M. (1993). The changing nature of infrastructure, The Urban Age, (1) (3) 1,4-6.
  17. Millington, A.F. (1982) Introduction to Property Valuation, 2nd edition, London: The Estates Gazette Limited.
  18. Munjee, N. (1995). Bombay: Institutional governance and urban finance, The Urban Age, (3)10
  19. Neilson , L. (1997). New ways to package urban investments, The Urban Age ( 5) (2), 8-9
  20. Odu, M.A.C (1990). Project management framework for evaluation and analysis: The fundamental systems concept. The Nigerian Quantity Surveyor, Nov./Dec., pp.10-12
  21. Omujine, E. O. (1997). Creating infrastructure for sustainable economic growth in Nigeria, The Estate Surveyor and Valuer, (20) (1) 14-18.
  22. Wade, R. (2009). From global imbalances to global reorganization. Cambridge Journal of Economics (33) 539-562 [Internet], [Accessed 26 September 2009]
  23. Watch Tower Bible and Tract Society (2002). Garbage: will it bury us?, Awake, (83) (16) 3-11. Wray, L.R. (2009). The rise and fall of money manager capitalism: Minskian approach, Cambridge Journal of Economics, (33) 807-828 [Internet] [Accessed 26 September, 2009]

Cite this Article: