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Sustainability of Investments in the Built Environment Financed by ESI Funds:

A Financial and Service Experience Perspective

Tamás Berky

European Structural and Investment Funds invest the bulk of their resources in the construction, refurbishment or renewal of the built environment. ESI Funds managing organisations focus on the investment projects that create or regenerate the built environment. However, research indicates that the cost of operation of a building is likely to be higher than its investment cost. The target groups of investments will benefit from project results when they start to use the new facilities after their handover as users, the impact of investments thus manifesting over the years of operation. Despite this, there is little focus on financial sustainability, let alone the sustainability or quality of the customer experience that the target group face, representing a high risk that the intended project objectives and results will not be met. The article argues that through state-of-the-art design and facility management requirements towards funded projects and beneficiaries, the sustainability and quality of project results can be improved.

Tamás Berky is a development and management consultant. He works primarily with public organisations and used to perform both programming and programme-coordination duties at the national level co-ordinating authority of Structural Funds in Hungary.


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