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Smart Living Housing Development in Malaysia: Debunking the Additional Cost Components from the Gross Development Cost Standpoint

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  • Chieng, K.F.

    (Department of Quantity Surveying, Faculty of Build Environment and Surveying, Universiti Teknologi Malaysia, Malaysia)

  • Mustapa, F.D.

    (Department of Quantity Surveying, Faculty of Build Environment and Surveying, Universiti Teknologi Malaysia, Malaysia)

Abstract

The development of Smart Living housing in Malaysia necessitates a meticulous understanding of the Gross Development Cost (GDC) components to ensure project financial viability. Unlike conventional housing, Smart Living involves unique building elements such as polarised glass panels, occupancy sensors, wheelchair stair climbers, and rainwater harvesting systems. These features contribute to a holistically sustainable and convenient independent living environment but also present greater barriers with “extra work†that diverge from traditional houses. Given the nascent stage of Smart Living housing development in Malaysia, developers have often taken individual initiatives to constitute the concept due to the absence of established rules and regulations. This lack of standardisation has led to inconsistencies of cost and uncertainties in factual development cost components. Acknowledging these issues, this research necessitates an explanatory sequential mixed method approach; however, this paper presents only the initial phase of the research by exploring the perspectives of stakeholders. The study aims to clarify the additional cost components associated with the development, emphasizing their impact on the overall budgeting process through qualitative, semi-structured interviews with respondents selected through homogeneous purposive sampling. Findings from ten respondents were analysed narratively and revealed that the anticipated additional development cost components include one hard cost item for land acquisition, six soft cost items for social, environmental, and economic impact assessments, one soft cost item for the developer’s concern, and eleven hard cost items related to regulatory compliance. This paper addresses the gap in research regarding the uncertainties in determining feasible capital costs due to possibilities such as overestimating Smart Living feature expenses and underestimating preparation costs. By systematically examining these anticipated additional development cost components, this paper provides foundational guidance for better accuracy in estimating, managing costs, and conducting feasibility studies, thereby supporting the effective planning and execution of Smart Living housing developments in Malaysia.

Suggested Citation

  • Chieng, K.F. & Mustapa, F.D., 2024. "Smart Living Housing Development in Malaysia: Debunking the Additional Cost Components from the Gross Development Cost Standpoint," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(7), pages 1796-1809, July.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:7:p:1796-1809
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    References listed on IDEAS

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    2. Queena K. Qian & Edwin H. W. Chan & Abd Ghani Khalid, 2015. "Challenges in Delivering Green Building Projects: Unearthing the Transaction Costs (TCs)," Sustainability, MDPI, vol. 7(4), pages 1-22, March.
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