The most central districts of Sé and República in São Paulo present a paradox: despite their consolidated infrastructure, accessibility to services, and extensive transportation networks compared to the rest of the city, these areas suffer from significant levels of vacancy and urban decay. This underutilization offers a substantial opportunity for urban regeneration through targeted real estate investments. The objective of this thesis is to develop an Urban Private Investment Attractiveness Index for private investment in these districts by utilizing Spatial Multicriteria Analysis (SMCA) to identify and rank census sectors based on their potential to attract private investment, particularly in the context of possible urban regeneration movements. The research integrates Multicriteria Analysis (MCA) and Geographic Information Systems (GIS) to evaluate factors influencing investment decisions. These factors are categorized into five main criteria: Real Estate Market Dynamics, Demographic and Socioeconomic, Accessibility and Transportation, Environmental and Sustainability, and Community and Lifestyle Amenities. Although all criteria are equally weighted in this study, MCA is used to compare areas, considering how these criteria are combined or overlapped. GIS is employed to spatially analyze and map these factors across the districts. In addition to the Urban Private Investment Attractiveness Index, a parametric financial study of the rehabilitation of vacant buildings is conducted. This study assesses the index as a decision-making tool for private investment by evaluating the cost-effectiveness and potential return on investment of rehabilitating these properties. The financial analysis uses the Transformation Value, defined as subtracting the cost of transformation from the projected market value of the asset after the transformation, to provide a practical framework for investors to evaluate the economic feasibility of proposed regeneration projects. The application of the index in Sé and República provides insights into the spatial distribution of investment attractiveness, identifying key zones where targeted investments could stimulate broader urban regeneration processes. This, in turn, could enhance the livability and economic vitality of the central city. The parametric financial study further supports investment decisions by evaluating the financial viability of redevelopment projects, guiding strategic investments in urban revitalization.
I distretti centrali di Sé e República a São Paulo presentano un paradosso: nonostante la loro infrastruttura consolidata, l'accessibilità ai servizi e le ampie reti di trasporto rispetto al resto della città, queste aree sono segnate da un alto numero di edifici vuoti e inutilizzati. Questa sottoutilizzazione offre una considerevole opportunità per la rigenerazione urbana attraverso investimenti immobiliari mirati. L'obiettivo di questa tesi è sviluppare un Indice di Attrattività per Investimenti Privati Urbani per gli investimenti privati in questi distretti utilizzando l'Analisi Multicriterio Spaziale (SMCA) per identificare e classificare i settori censitari in base al loro potenziale di attrarre investimenti privati, particolarmente nel contesto di possibili movimenti di rigenerazione urbana. La ricerca integra l'Analisi Multicriterio (MCA) e i Sistemi Informativi Geografici (GIS) per valutare i fattori che influenzano le decisioni di investimento. Questi fattori sono suddivisi in cinque criteri principali: Dinamiche del Mercato Immobiliare, Demografico e Socioeconomico, Accessibilità e Trasporti, Ambientale e Sostenibilità, e Servizi alla Comunità e Stile di Vita. Sebbene tutti i criteri siano ponderati in modo uguale in questo studio, l'MCA viene utilizzata per confrontare le aree, considerando come questi criteri siano combinati o sovrapposti. I GIS vengono impiegati per analizzare e mappare spazialmente questi fattori nei distretti. Oltre all'Indice di Attrattività per Investimenti Privati Urbani, viene condotto uno studio finanziario parametrico sulla riabilitazione degli edifici vacanti. Questo studio valuta l'indice come strumento decisionale per gli investimenti privati, esaminando il rapporto costo-efficacia e il potenziale ritorno sull'investimento della riabilitazione di questi beni. L'analisi finanziaria utilizza il Valore di Trasformazione, definito come la differenza tra il costo della trasformazione e il valore di mercato previsto dell'asset dopo la trasformazione, al fine di fornire un quadro pratico agli investitori per valutare la fattibilità economica dei progetti di rigenerazione proposti. L'applicazione dell'indice in Sé e República fornisce intuizioni sulla distribuzione spaziale dell'attrattività per gli investimenti, identificando zone chiave dove investimenti mirati potrebbero stimolare processi più ampi di rigenerazione urbana. Questo, a sua volta, potrebbe migliorare la vivibilità e la vitalità economica del centro città. Lo studio finanziario parametrico supporta ulteriormente le decisioni di investimento valutando la fattibilità finanziaria dei progetti di riqualificazione, guidando investimenti strategici nella rivitalizzazione urbana.
Urban attractiveness assessment: a spatial multicriteria approach for private investment in requalifying Central São Paulo's vacant properties
Afonso Manolio, Caroline
2023/2024
Abstract
The most central districts of Sé and República in São Paulo present a paradox: despite their consolidated infrastructure, accessibility to services, and extensive transportation networks compared to the rest of the city, these areas suffer from significant levels of vacancy and urban decay. This underutilization offers a substantial opportunity for urban regeneration through targeted real estate investments. The objective of this thesis is to develop an Urban Private Investment Attractiveness Index for private investment in these districts by utilizing Spatial Multicriteria Analysis (SMCA) to identify and rank census sectors based on their potential to attract private investment, particularly in the context of possible urban regeneration movements. The research integrates Multicriteria Analysis (MCA) and Geographic Information Systems (GIS) to evaluate factors influencing investment decisions. These factors are categorized into five main criteria: Real Estate Market Dynamics, Demographic and Socioeconomic, Accessibility and Transportation, Environmental and Sustainability, and Community and Lifestyle Amenities. Although all criteria are equally weighted in this study, MCA is used to compare areas, considering how these criteria are combined or overlapped. GIS is employed to spatially analyze and map these factors across the districts. In addition to the Urban Private Investment Attractiveness Index, a parametric financial study of the rehabilitation of vacant buildings is conducted. This study assesses the index as a decision-making tool for private investment by evaluating the cost-effectiveness and potential return on investment of rehabilitating these properties. The financial analysis uses the Transformation Value, defined as subtracting the cost of transformation from the projected market value of the asset after the transformation, to provide a practical framework for investors to evaluate the economic feasibility of proposed regeneration projects. The application of the index in Sé and República provides insights into the spatial distribution of investment attractiveness, identifying key zones where targeted investments could stimulate broader urban regeneration processes. This, in turn, could enhance the livability and economic vitality of the central city. The parametric financial study further supports investment decisions by evaluating the financial viability of redevelopment projects, guiding strategic investments in urban revitalization.| File | Dimensione | Formato | |
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https://hdl.handle.net/10589/226464