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The risky business of real estate developers: network building and risk mitigation in London and Johannesburg

Brill, FN; Robin, E; (2020) The risky business of real estate developers: network building and risk mitigation in London and Johannesburg. Urban Geography , 41 (1) pp. 36-54. 10.1080/02723638.2019.1637211. Green open access

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Abstract

Recent work on financialisation in urban political economy and economic geography has highlighted real estate developers as a point of analysis for understanding urban governance and ongoing urban restructuring. This paper argues the relational strategies of developers revealed in this work is informed by the existence of a series of risks which they have to mitigate throughout a project's lifecycle. As a result, there is a need for more geographically sensitive - and relational - understanding of real estate risk, and how it influences actors' strategies in places. Building on two examples from Johannesburg and London, this paper explores the relationship between risk, real estate and urban transformation. In highlighting the different roles developers assume: as knowledge coalition builders, political actors and community builders we demonstrate how developers employee specific relational strategies to counter threats to the implementation of their projects.

Type: Article
Title: The risky business of real estate developers: network building and risk mitigation in London and Johannesburg
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/02723638.2019.1637211
Publisher version: https://doi.org/10.1080/02723638.2019.1637211
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Real estate developers; urban governance; Risk; urban policy; Financialisation
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Geography
URI: https://discovery.ucl.ac.uk/id/eprint/10077828
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