PROPERTY ASSET MANAGEMENT IN SPAIN: STATE OF THE ART AND PROPOSALS OF ACTION

Currently, in the Spanish market, some entities possess considerable amounts of property assets, as we have seen in large holders: banking entities, public hospitals, developers, etc. Property assets are the slowest resources of an entity, when it comes to answering to changes, due to the complexities associated with the purchase, sale, lease, alteration, development of property assets, etc. For these and many other reasons, all the activities related to property assets, take more time than expected and are generally more expensive than in the initially budget. Then, why are there so many organizations that are surprised repeatedly, for the delays, the shortage of funds or with buildings that do not match with the initial expectations? That is why, the vast majority of organizations, cannot align the disposition, quality and efficiency of property assets with their current business strategy, that is, they are poorly managed. There is a necessity to develop the Property Asset Manager figure, in order to achieving at least similar numbers to our neighboring countries (UK, France, Germany, etc). For this to happen, we have studied, researched and analyzed diverse documentations, especially at an international level. We need to develop a definition, functions and methodology that helps to create a specific field in Spain