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Factors Influencing the Impact of Stakeholder Interactions on Property Development Outcomes in Ibadan, Nigeria
Subject area: Physical Sciences and Environment · Area of research: Property Development
Abstract
This study examined the various factors influencing stakeholder interactions and their effects on property development outcomes in Ibadan, Nigeria. Using a quantitative approach, data were gathered from 146 built environment professionals like architects, engineers, builders, and surveyors representing a 71.22% response rate from 205 questionnaires. The majority of respondents (63.7% male, over 75% with at least a bachelor's degree) offered insights from their diverse roles in the property development process. Key factors identified include high security concerns, crime rates, and the existence of proper regulatory frameworks, both ranking highest with a mean score of 4.2192. Conversely, currency instability (3.7192), low interest rates and inflation (3.7123), and negative media coverage (3.6986) had relatively lower perceived impacts. Principal Component Analysis (PCA), supported by a KMO value of 0.689 and significant Bartlett?s test (?? = 526.390, df = 210, p < 0.001), revealed seven core components explaining 57.86% of the total variance. These components reflect socio-political, institutional, and macroeconomic dimensions of stakeholder engagement. Variables such as political stability, community participation, and project complexity (communality = 0.834) were central. The study concludes that property development is influenced by a complex mix of structural, economic, and governance factors, recommending strengthened institutions, improved communication, and inclusive policies to enhance development outcomes.
Keywords
Stakeholders, Interactions, Property Development, Ibadan, Nigeria
How to cite this paper
@article{1710085,
author = {Iyabo Aina Oladeni, Adewale Rufai Adedokun},
title = {Factors Influencing the Impact of Stakeholder Interactions on Property Development Outcomes in Ibadan, Nigeria},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {9},
number = {2},
pages = {531-545},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1710085.pdf},
abstract = {This study examined the various factors influencing stakeholder interactions and their effects on property development outcomes in Ibadan, Nigeria. Using a quantitative approach, data were gathered from 146 built environment professionals like architects, engineers, builders, and surveyors representing a 71.22% response rate from 205 questionnaires. The majority of respondents (63.7% male, over 75% with at least a bachelor's degree) offered insights from their diverse roles in the property development process. Key factors identified include high security concerns, crime rates, and the existence of proper regulatory frameworks, both ranking highest with a mean score of 4.2192. Conversely, currency instability (3.7192), low interest rates and inflation (3.7123), and negative media coverage (3.6986) had relatively lower perceived impacts. Principal Component Analysis (PCA), supported by a KMO value of 0.689 and significant Bartlett?s test (?? = 526.390, df = 210, p < 0.001), revealed seven core components explaining 57.86% of the total variance. These components reflect socio-political, institutional, and macroeconomic dimensions of stakeholder engagement. Variables such as political stability, community participation, and project complexity (communality = 0.834) were central. The study concludes that property development is influenced by a complex mix of structural, economic, and governance factors, recommending strengthened institutions, improved communication, and inclusive policies to enhance development outcomes.},
keywords = {Stakeholders, Interactions, Property Development, Ibadan, Nigeria},
month = {August},
}