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Determinants of corporate real estate financing choices in emerging Gulf and mature Asian markets

Salah Kayed et al.

Investment Management and Financial Innovations2026https://doi.org/10.21511/imfi.23(2).2026.04article
AJG 1
Weight
0.50

What the paper says

Type of the article: Research ArticleAbstractCorporate real estate financing is a channel through which macro-financial volatility, regulation, and strategic orientation affect firms’ balance sheets. This study explains how firms in the United Arab Emirates, Saudi Arabia, and Singapore choose between leasing, owning, and hybrid property-financing structures and how these choices perform under uncertainty. The empirical framework combines Generalized Structural Equation Modeling with Monte Carlo simulation using macroeconomic and real estate data, latent constructs for strategic orientation, financial constraints, regulatory pressure, and perceived risk, and an outcome indicating the dominant property-financing structure. Measurement reliability is acceptable (Cronbach’s alpha 0.77–0.82, composite reliability 0.83–0.87, average variance extracted 0.57–0.62). Structural estimates show that strategic orientation (β = 0.36) and financial constraints (β = 0.41) have significant effects on property-financing choices, and regulatory pressure also contributes (β = 0.27), and perceived risk reduces the likelihood of ownership (β = −0.38) while mediating strategic and regulatory influences (indirect β = −0.13 and β = −0.17). Country context significantly moderates the impact of financial constraints (β = 0.12) and perceived risk (β = −0.10). Simulation results indicate net present values of 3.75, 2.80, and 4.10 million USD for the United Arab Emirates, Saudi Arabia, and Singapore. The study concludes that property-financing structure is a strategic decision and that the combined structural-simulation framework is a useful tool for analyzing corporate decisions in heterogeneous markets.

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https://doi.org/https://doi.org/10.21511/imfi.23(2).2026.04

Or copy a formatted citation

@article{salah2026,
  title        = {{Determinants of corporate real estate financing choices in emerging Gulf and mature Asian markets}},
  author       = {Salah Kayed et al.},
  journal      = {Investment Management and Financial Innovations},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.21511/imfi.23(2).2026.04},
}

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Determinants of corporate real estate financing choices in emerging Gulf and mature Asian markets

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.