TY  - JOUR
T1  - AHP – Binary Linear Programming Approach for Multiple Criteria Real Estate Investment Planning
AU  - Aktas, Ahmet
AU  - Ecer, Billur
AU  - Kabak, Mehmet
PY  - 2019
DA  - December
Y2  - 2020
JF  - Journal of Turkish Operations Management
JO  - JTOM
PB  - METE GÜNDOĞAN
WT  - DergiPark
SN  - 2630-6433
SP  - 283
EP  - 289
VL  - 3
IS  - 2
LA  - en
AB  - Capital allocation on real estate investments must be made aftercareful consideration. An investor can obtain a great amount of revenue with agood investment, however, an investment can result by waste of capital, whichis spent on an unprofitable asset. There are different aspects of investments relatedto economic, legal, location and physical factors, which should be taken intoaccount in assessment of possible investment options. In this study, realestate investment planning problem is considered as a multi-objective knapsackproblem. An integrated AHP – Binary Linear Programming model is proposed todetermine the best investment plan considering different criteriasimultaneously. Within the proposed model, multi-criteria evaluation ofinvestment alternatives is done by using Analytical Hierarchy Process andobtained criteria weights values are written as the objective functioncoefficient in the knapsack model. A real estate investment planningapplication, which contains 10 alternatives in Ankara, is presented to test theapplicability of the proposed decision model. Obtained results are comparedwith the results obtained by only considering financial aspects of investment.
KW  - investment planning
KW  - integer programming
KW  - multi-criteria decision making
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UR  - https://dergipark.org.tr/en/pub/jtom/issue//647170
L1  - https://dergipark.org.tr/en/download/article-file/920525
ER  -