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Quantum Inspired Valuation of circular real estate

Project description

Quantum-inspired training for a circular real estate market

The real estate industry, a significant contributor to pollution, must reduce its emissions and incorporate environmental and societal values into investment decisions. Currently, there is limited understanding of the value of CO2-neutral real estate throughout its life cycle. With the support of the Marie Skłodowska-Curie Actions programme, the QuiVal project will train professionals to develop an innovative, climate-aware approach to real estate value and valuation. It explores quantum mechanical concepts to pursue circular real estate, aiming to motivate future investments in this sector. The project comprises a collaborative network of PhD projects focused on developing quantum-inspired approaches to valuing buildings for a circular real estate market.

Objective

QuiVal will train a new generation of professionals who can develop and apply an innovative, climate-aware approach to real estate value and valuation aimed at achieving the European aim of becoming CO2 neutral before 2050. This is highly needed because the real estate industry is one of the biggest polluting industries that urgently needs to reduce its emissions. Value and valuation are some of the big drivers of investment decisions and project realisation that shape this industry. In practice value and valuation are based on the potential future income generation of real estate, without considering environmental and societal values, which become practically urgent and relevant with new EU rules and regulations (e.g. ESG and SFRD reporting). Despite this urgency, limited scholarly work exists to understand the value of real estate that is CO2 neutral throughout its life cycle, including production, operation, dismantling and reuse.

QuiVal conceptualises value and valuation as metaphorical synonyms to quantum mechanics and tests proposed changes in real estate applications. QuiVal responds to recent theoretical calls to consider quantum mechanical notions in financial tools and techniques, and as a first of its kind conceives this as a design research to explore the merits of quantum mechanical notions to pursue circular real estate. This enables value to be understood as a multifaceted phenomenon and valued by observing it in its fluid appearance in the market. It is expected that tools and techniques with this comprehension and sensitivity enable new governance and policies to more intrinsically motivate future investments in circular real estate.

QuiVal is a collaborative network of PhD projects that trains and develops quantum inspired approaches to value buildings with a long life and components and materials easily mobile for reuse, thereby synthesising recent advances in digital and human valuation techniques for a circular real estate market.

Fields of science (EuroSciVoc)

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Keywords

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Programme(s)

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Topic(s)

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Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

HORIZON-TMA-MSCA-DN - HORIZON TMA MSCA Doctoral Networks

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Call for proposal

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(opens in new window) HORIZON-MSCA-2023-DN-01

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Coordinator

TECHNISCHE UNIVERSITEIT DELFT
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 823 111,20
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

No data

Participants (4)

Partners (17)

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