GYO İnşaat Yatırımlarında Mal Sahibi Kaynaklı Değişiklik Talepleri
Owner-Sourced Change Requests in REIT Construction Investment

Summary/Abstract: One of the most important problems encountered in the construction investments of real estate investment trusts (REITs) is the changes in the project caused by the owner. In order to increase performance in the construction investments of REITs, first of all, the reasons underlying the changes caused by the owner should be investigated. The aim of this study is to investigate the causes of changes in construction projects and their effects on the project by researching existing studies in the literatüre. It is an examination of the subject of "owner-induced project changes" through a field study in the light of the causes and effects found in the literature. In the study, the data were obtained from the observations of the researcher working as an architect in a Real Estate Investment Trust (REIT), projects, meeting notes and literature. It is known that the biggest impact of project change requests is usually cost and time lapse. Five of the six project changes requested by the owner examined in the fieldwork were realized during the implementation phase of the construction site. For this reason, in the field study the "chain effect of the changes" mentioned in the literature was observed and it was determined that these change requests cause cost and time increases in the project.

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