




































    

 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

1252 Columbia Rd NW, Washington DC, United States 

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1 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

ASSESSMENT OF PROPERTY MANAGEMENT FOR THE 

DEVELOPMENT OF REAL ESTATE BUSINESS IN 

ENUGU URBAN NIGERIA 
 

Nwanna Isaac Arinze, Prof Augusta Emenike and Eze Hillary 

Department of Quantity Surveying, Faculty of Environmental Sciences ESUT Business School, Enugu State 

University of Science and Technology, Enugu 

DOI: https://doi.org/10.5281/zenodo.14974498 

 

Abstract: The study examined the effect of Assessment of Property Management on the Development of Real 

Estate Business in Enugu Urban Nigeria. The specific objectives are to; Examine the effect of Energy Efficiency 

Management on the Development of Real Estate Business. Evaluate the effect of Conserving Water Management 

on the Development of Real Estate Business in Enugu Urban Nigeria. The study adopts a descriptive survey 

research design. Primary data collection from a cross-section of respondents through a structured questionnaire. 

The population of this study consists of real estate developers, property managers, and other stakeholders 

involved in the real estate business in Enugu State. The data collected was analyzed using descriptive statistics 

(frequencies, percentages, means) to summarize the responses. The hypotheses were tested using inferential 

statistical techniques such as regression analysis, correlation, and Statistical Package for Social Sciences (SPSS) 

version 28.0. The result revealed that Energy Efficiency Management has a significant effect on the Development 

of Real Estate Business where the p-value is (0.000<0.05) and Conserving Water Management has a significant 

effect on the Development of Real Estate Business where the p-value is (0.001<0.05) in Enugu Urban Nigeria. 

The study concluded that Sustainable Property Management has a significant effect on the Development of Real 

Estate Business in Enugu Urban Nigeria. The study recommended among others that, Real estate developers and 

property managers should actively adopt and promote energy-efficient technologies and practices, such as the use 

of renewable energy sources, LED lighting, energy-efficient appliances, and insulation systems. 

Keywords: Development, Estate, Management, Property, Real  

 

1.1 Introduction 

Sustainable Property Management (SPM) is increasingly recognized as a vital component of modern real estate 

practices, driving significant changes in how properties are developed, maintained, and operated (Dixon, et al. 

2019). As the real estate sector grapples with the challenges of climate change, resource scarcity, and evolving 

consumer expectations, adopting sustainable practices has become essential for long-term success. SPM 

encompasses a range of strategies to reduce the environmental impact of buildings, optimize resource use, and 

enhance the social and economic value of real estate assets (Cohen, & Nussbaum, 2018). The development of real 

estate businesses through SPM addresses environmental concerns and offers substantial economic benefits. By 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

1252 Columbia Rd NW, Washington DC, United States 

https://topjournals.org/index.php/AJSET/index; mail: topacademicjournals@gmail.com 

 
 

 

 

2 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

implementing energy-efficient technologies, sustainable materials, and environmentally responsible practices, 

property managers can reduce operational costs, increase the longevity of assets, and boost property values 

(Cohen, & Nussbaum, 2018). Additionally, properties managed sustainably tend to attract more investors, tenants, 

and buyers who are increasingly conscious of environmental and social issues (Baker, 2019). 

Regulatory pressures also drive this shift towards sustainability in property management, as governments around 

the world introduce stricter environmental standards and incentives for green building practices (Elahee, 2019). 

Real estate businesses that embrace SPM are better positioned to comply with these regulations, avoiding potential 

penalties and gaining a competitive edge in the market. Sustainable Property Management (SPM) has emerged as 

a pivotal aspect of the real estate industry, particularly in the context of developing economies like Nigeria 

(Hopkins 2023). Enugu State, located in the southeastern region of Nigeria, is witnessing a burgeoning real estate 

sector driven by urbanization, population growth, and increased investment. However, the rapid expansion of real 

estate in Enugu State has brought to the forefront the need for sustainable practices to mitigate environmental 

degradation, enhance social responsibility, and ensure long-term economic viability (Elahee, 2019). 

SPM in Enugu State involves the integration of eco-friendly practices, efficient resource utilization, and the 

adoption of green building technologies to create properties that meet the needs of present and future generations 

(Hopkins 2023). This approach not only addresses environmental concerns but also contributes to the economic 

and social aspects of development, fostering balanced growth in the real estate sector. The development of real 

estate businesses in Enugu Urban, Enugu State through sustainable property management practices is crucial for 

several reasons (Elahee, 2019). It enhances property values, reduces operational costs, and increases the 

attractiveness of investments. Furthermore, it aligns with global trends toward sustainability, making the local 

real estate market more competitive on an international scale. 

This study explores the impact of Sustainable Property Management on the development of the real estate business 

in Enugu Urban, examining how these practices influence property values, investment decisions, and overall 

market growth. By highlighting the benefits and challenges of adopting SPM, the study aims to provide insights 

that can guide policymakers, real estate developers, and investors in fostering a sustainable and thriving real estate 

industry in Enugu Urban. 

1.2 Statement of the Problem 

Despite the growing recognition of the importance of sustainability in global real estate markets, the adoption of 

Sustainable Property Management (SPM) practices in Enugu Urban, Nigeria, remains limited. The real estate 

sector in Enugu Urban is rapidly expanding due to increasing urbanization, population growth, and rising demand 

for housing and commercial properties. However, this growth has often been accompanied by environmentally 

unsustainable practices, such as inefficient resource use, inadequate waste management, and reliance on non-

renewable energy sources. These practices not only contribute to environmental degradation but also pose long-

term risks to the economic viability and competitiveness of real estate businesses in the region. 

The reluctance to fully integrate SPM practices into the real estate sector in Enugu Urban can be attributed to 

several factors, including lack of awareness, insufficient regulatory frameworks, and perceived high costs of 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

1252 Columbia Rd NW, Washington DC, United States 

https://topjournals.org/index.php/AJSET/index; mail: topacademicjournals@gmail.com 

 
 

 

 

3 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

implementation. As a result, many real estate businesses continue to operate using traditional methods that may 

yield short-term profits but are ultimately unsustainable. This raises critical questions about the future 

development of the real estate industry in Enugu Urban, particularly in the context of global trends towards 

sustainability and the increasing demand for eco-friendly properties. 

The problem, therefore, is the insufficient adoption of Sustainable Property Management practices in Enugu 

Urban, which hampers the sustainable development of the real estate sector. This study seeks to investigate the 

extent to which SPM practices are being implemented, the barriers to their adoption, and their impact on the 

growth and sustainability of real estate businesses in Enugu Urban. Understanding these dynamics is crucial for 

developing strategies that can promote the widespread adoption of SPM, thereby enhancing the long-term success 

and environmental responsibility of the real estate sector in the region. 

1.3 Objective of the Study 

The main objective of this study is to examine the assessment of Property Management on the Development of 

Real Estate Business in Enugu Urban. Nigeria. The specific objectives are to;  

i. Examine the effect of Energy Efficiency Management on the Development of Real Estate Business in 

Enugu Urban Nigeria. 

ii. Evaluate the effect of Conserving Water Management on the Development of Real Estate Business in 

Enugu Urban Nigeria. 

1.4 Hypotheses of the Study 

i. Energy Efficiency Management has no significant effect on the Development of Real Estate Business in 

Enugu Urban Nigeria. 

ii. Conserving Water Management has no significant effect on the Development of Real Estate Business in 

Enugu Urban Nigeria 

2.0 Review of Related Literature 

2.1 Conceptual Review 

2.1.1 Sustainable Property Management 

Sustainable property management is the holistic approach to managing properties to minimize their environmental 

impact while maximizing their social and economic benefits. Sustainable property management (SPM) is 

implementing green building initiatives during the operations and maintenance phase of the building lifecycle, 

taking into account their environmental, social, and economic impacts to reconcile these three spheres in such a 

way that a balance is achieved between economic development and the protection of environmental and social 

resources, Hopkins, (2023).  According to Dixon et al. (2019), SPM integrates sustainability into every aspect of 

property management, including design, construction, operation, and maintenance. The core principles of SPM 

include resource efficiency, waste reduction, social equity, and economic viability (Cohen & Nussbaum, 2018). 

According to Oladokun (2010), Property management is a comprehensive subject that requires the application of 

skills and knowledge to exploit the potential value of real estate assets. The main aim of property management is 

to maximize the owner’s investment for maximum return through the application of appropriate skills in caring 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

1252 Columbia Rd NW, Washington DC, United States 

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4 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

for the property. Property managers are employed by property owners to perform the management of their 

properties based on their training. 

Sustainable property management simply implies locating, designing, developing, and handling property that is 

economically viable, environmentally friendly, and has a positive and significant impact on the quality of life of 

the inhabitants and the environment at large. (Keeping & Shiers, 2004). Lutzkendorf and Lorenz (2007) classified 

sustainable buildings and their management, in terms of overall areas of protection, which can be understood 

from the three dimensions of sustainable development; protection of the natural environment/ecosystem; 

protection of basic natural resources; protection of human health and welfare; protection of social values and 

public goods; protection and preservation of capital and tangible property. This was further revealed by the Royal 

Institution of Chartered Surveyors (2009), that sustainable building management envisages a minimized building 

life cycle costs by analyzing all building-related impacts, from raw material extraction to manufacturing, use, 

repair, maintenance, disposal, and recycling. Sustainable property management practices have been beneficial in 

making buildings more readily leased, commanding higher rents, and having higher tenant retention rates; 

generally, enjoy lower operating costs through increasing energy efficiency and lessening greenhouse gas 

emissions; improve business productivity of their tenants, affecting churn, renewals, inducements and fitting-out 

costs; and benefit occupants to a degree that may exceed the underlying asset's value, Oladokun, (2010). 

2.1.2 Energy Efficiency Management  

Energy management is the proactive, organized, and systematic coordination of procurement, conversion, 

distribution, and use of energy to meet the requirements, considering environmental and economic objectives. It 

is a systematic endeavor to optimize energy efficiency for specific political, economic, and ecological objectives 

through Engineering and Management techniques, (Elahee, 2019). Energy efficiency management (EEM) 

encompasses the systematic approach to managing energy use to maximize productivity while minimizing waste. 

As defined by the International Energy Agency (IEA, 2021), EEM involves strategies that integrate technology, 

behavior modification, and organizational practices to enhance energy use efficiency. Energy efficiency 

management represents a crucial strategic practice aimed at elevating the performance of commercial and 

industrial structures to the highest levels through the utilization of innovative technologies, intelligent strategies, 

and sustainable work methods. It aims to reduce unnecessary energy consumption, enhance the efficient 

utilization of energy, lower operational costs, and reduce carbon emissions significantly. Implementing energy 

efficiency management involves several strategies, (Baker, 2019).  

One of the most effective methods is conducting energy audits. These audits assess how energy is being used in 

buildings and processes, identifying areas where energy savings can be achieved, (Baker, 2019). Another strategy 

is the adoption of advanced technologies. Smart meters, energy management systems, and energy-efficient 

appliances are examples of technologies that can significantly reduce energy consumption (Khan& Khan, 2021). 

Moreover, retrofitting existing infrastructures with energy-efficient systems can also yield substantial benefits. 

Employee engagement and training are essential components of energy efficiency management. Organizations 

can foster a culture of energy awareness by educating employees about energy-saving practices and encouraging 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

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5 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

them to participate in energy conservation efforts (Morrissey & Hennelly, 2020). Energy efficiency management 

is a multifaceted approach that contributes to environmental sustainability and enhances economic performance 

and energy security. 

2.1.3 Conserving Water Management 

Water is a vital resource for sustaining life, economic development, and environmental health. As global 

populations grow and climate change exacerbates water scarcity, effective water management becomes 

increasingly crucial. Conserving water management refers to the strategies and practices implemented to reduce 

water consumption, enhance water efficiency, and ensure sustainable use of this precious resource. Conserving 

water management encompasses a range of strategies that are essential for sustainable development. By 

integrating technological, behavioral, and policy approaches, it seeks to mitigate water scarcity and promote 

responsible water use, (Hoekstra and Chapagain 2007). The significance of conserving water management cannot 

be overstated. As populations increase and urbanization accelerates, the water demand continues to rise. This 

trend places immense pressure on freshwater resources, leading to over-extraction and degradation of ecosystems. 

Implementing effective water conservation strategies can help mitigate these challenges, ensuring that water 

remains available for future generations. Furthermore, conserving water management has economic implications. 

Reducing water use can lead to significant cost savings for households and businesses. For instance, the 

implementation of water-efficient technologies can lower utility bills, while conservation policies can reduce the 

need for costly infrastructure investments to expand water supply systems (Mayer et al., 2008). 

One of the primary elements of conserving water management is the adoption of water-efficient technologies. 

Innovations in irrigation systems, plumbing fixtures, and industrial processes can lead to substantial reductions 

in water use. For instance, drip irrigation systems, which deliver water directly to plant roots, can use up to 60% 

less water than traditional methods (Fereres & Soriano, 2007). Additionally, the installation of low-flow faucets 

and toilets in residential and commercial buildings can significantly decrease overall water consumption. 

Behavioral change is another critical aspect of water conservation. Educating individuals and organizations about 

the importance of water-saving practices can foster a culture of conservation. Initiatives such as public awareness 

campaigns and community workshops can effectively encourage people to adopt water-saving habits, such as 

fixing leaks, using water-efficient appliances, and reducing outdoor water use (Mayer et al., 2008). Policy and 

regulation are essential tools in promoting conserving water management. Governments can implement policies 

that incentivize water conservation, such as subsidies for water-efficient appliances or penalties for excessive 

water use. Regulations can also be established to limit water consumption in sectors known for high usage, such 

as agriculture and manufacturing (Grafton et al., 2011). By promoting sustainable water use, communities can 

enhance their resilience to climate variability and ensure long-term economic stability. 

2.1.4 Real Estate Business 

Real estate development refers to the process of improving land or properties to maximize their value, which can 

include residential subdivisions, commercial centers, and mixed-use developments. This aspect of real estate 

requires significant planning, financing, and compliance with regulatory frameworks (Chin & Chau, 2003). The 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

1252 Columbia Rd NW, Washington DC, United States 

https://topjournals.org/index.php/AJSET/index; mail: topacademicjournals@gmail.com 

 
 

 

 

6 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

real estate business encompasses the buying, selling, leasing, and management of properties, including residential, 

commercial, and industrial real estate. This sector plays a crucial role in the economy, influencing job creation, 

wealth accumulation, and urban development. Understanding the dynamics of the real estate business requires an 

exploration of its key components, market influences, and the various stakeholders involved. At its core, the real 

estate business consists of several key activities: brokerage, property management, development, investment, and 

financing. Real estate brokers facilitate transactions between buyers and sellers, providing valuable market 

insights and negotiating deals. Property management involves overseeing rental properties, ensuring they are 

maintained and profitable, while also managing tenant relationships (Baker & Sirmans, 2005). 

The real estate market is influenced by a variety of factors, including economic conditions, interest rates, 

demographic trends, and government policies. Economic indicators such as employment rates, GDP growth, and 

inflation can significantly impact demand for real estate (Haurin, Parcel, & Haurin, 2004). For instance, during 

periods of economic growth, demand for housing and commercial spaces typically rises, driving prices upward. 

Conversely, economic downturns can lead to decreased demand and falling prices. Interest rates also play a crucial 

role in the real estate business. Lower interest rates often lead to increased borrowing, making it easier for 

individuals and businesses to finance property purchases (Mishkin, 2015). The real estate business involves a 

diverse range of stakeholders, each with distinct interests and roles. These include real estate agents, developers, 

investors, tenants, and government entities. Each stakeholder contributes to the overall functioning of the market 

and influences its direction. 

The real estate business is a dynamic and multifaceted sector that plays a vital role in the economy. By 

understanding its key components, market influences, and the various stakeholders involved, one can appreciate 

the complexities of real estate transactions and the factors that drive market trends. As urbanization continues and 

economic conditions evolve, the real estate business will remain a critical area of focus for investors, 

policymakers, and consumers alike, (Rosen and Gyourko, 2001). 

2.2 Theoretical Review 

2.2.1 Resource-Based View (RBV) 

Originally proposed by Birger Wernerfelt (1984), later developed and refined by Jay B. Barney (1991) and other 

scholars, the resource-based view of the firm has found considerable support in the business literature. A major 

premise of the resource-based theory is that competitive advantage is a function of the resources and capabilities 

of the firm (Wernerfelt, 1984; Peteraf, 1993). Valuable resources help a firm exploit opportunity and/or avoid 

threats in the environment (Barney, 1991) and enable it to develop and/or implement strategies to improve its 

efficiency and effectiveness. When we discuss the value of a resource, it is important to ask, ‘valuable to whom'.  

According to the resource-based view (RBV) of the firm, a company can outperform other companies by the way 

the company combines its technical, human, and other resources. The resource-based view also advances the 

importance of firm-specific resources, that is, those resources that maintain value in the context of the given firm's 

markets and other resources that are difficult to replicate by other firms (Wernerfelt 1984). 

 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

Impact Factor: 7.67 

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7 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

2.3 Empirical Reviews 

Pahl-Wostl (2007) conducted a study to emphasize the need for a transition from traditional, rigid water 

management practices to more flexible, adaptive management approaches that can better cope with uncertainty 

and change in Europe. The study aims to explore the concept of adaptive water management and its relevance in 

the face of global environmental changes. A qualitative research approach was used. The results revealed that 

there is a significant need for the integration of adaptive management principles into national and international 

water policies, emphasizing that such a transition is critical for managing the risks associated with climate change. 

Thollander et al (2007) conducted a study to evaluate local energy programs for manufacturing SMEs, focusing 

on energy efficiency management within small and medium-sized enterprises (SMEs) in the industrial sector of 

Sweden. The study aims to evaluate the effectiveness of a local energy program designed to enhance energy 

efficiency in manufacturing SMEs in Sweden. The study employed both quantitative and qualitative approaches 

for this study. The results revealed that the local energy program led to an average reduction of 12% in energy 

consumption across the participating SMEs hence improving energy efficiency.  

Dagnino and Ward (2012) conducted a study to examine the adoption of efficient irrigation techniques in 

agricultural water management, focusing on drip irrigation systems in a semi-arid region. This study aims to 

analyze water conservation practices in irrigated agriculture in a sub-basin in North America's Rio Grande of 

Mexico. The study utilized a longitudinal survey. The results revealed that where water rights exist, water rights 

administrators will need to guard against increased depletion of the water source in the face of growing subsidies 

for drip irrigation. 

Halim, Amir, and Masri (2017) conducted a study to identify the key areas where energy efficiency can be 

improved within the academic buildings of the Engineering Campus in Malaysia. The study aims to evaluate the 

effectiveness of energy-saving measures within an academic setting, providing a comprehensive overview of the 

strategies used and the results achieved at the Engineering Campus of University Sains Malaysia. A case study 

approach was employed for this study. The results revealed that the implementation of the energy efficiency 

improvement and management program led to a significant reduction in energy consumption. 

3. Methodology 

3.1 Study Area 

The study is conducted in Enugu State, Nigeria, a major urban center with a growing real estate industry. Enugu 

State, located in the southeastern region of Nigeria, is a prominent urban center with a rich history and significant 

economic activities. The state capital, Enugu, often referred to as the "Coal City," serves as a hub for commercial, 

political, and industrial activities, making it one of the key cities in the region. In recent years, Enugu has 

witnessed considerable growth in its real estate sector, driven by population growth, urbanization, and increasing 

demand for residential, commercial, and industrial properties. The rapid development of property markets in 

Enugu State is evident in the surge of new housing projects, commercial centers, and mixed-use developments. 

This urban expansion is accompanied by an increasing focus on sustainability, particularly in the realms of energy 

efficiency, water conservation, and environmentally friendly building practices. The state government, alongside 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

ISSN: 2837-2964 

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8 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

private developers, has begun embracing sustainable construction technologies and policies aimed at reducing the 

environmental impact of urban development. These initiatives reflect a broader trend toward adopting green 

building practices, which aim to minimize resource consumption and enhance the overall sustainability of 

infrastructure in the area. 

3.2 Research Design  

This study adopts a descriptive survey research design to examine the effect of sustainable property management 

on the development of real estate business in Enugu urban Nigeria. This design is appropriate because it allows 

primary data collection from a cross-section of respondents through a structured questionnaire. The research also 

involves quantitative analysis to determine the relationship between sustainable property management practices, 

such as energy efficiency management and water conservation, and the development of the real estate sector. The 

population of this study consists of real estate developers, property managers, and other stakeholders involved in 

the real estate business in Enugu urban. These individuals and organizations are key players in the industry and 

are likely to have implemented or are knowledgeable about sustainable property management practices.  

A purposive sampling technique was employed to select respondents who have experience or are actively involved 

in the implementation of sustainable property management practices. The sample size will be determined using 

the Taro Yamane formula to achieve a representative sample. Primary data was collected through a structured 

questionnaire designed to assess the impact of energy efficiency management and water conservation on the 

development of the real estate business. The questionnaire consists of both closed-ended and Likert scale 

questions to capture respondents’ perceptions and experiences regarding sustainable property management 

practices. The data collected was analyzed using descriptive statistics (frequencies, percentages, means) to 

summarize the responses. To evaluate the relationships between sustainable property management practices and 

real estate development, inferential statistical techniques such as regression analysis and correlation analysis will 

be applied. 

4 Data Presentation and Analysis  

4.1 Data Preparation  

Before the actual analysis, the data collected from the field were screened for completeness, consistency, and 

accuracy. Any missing or incomplete responses were handled using mean imputation or removed if necessary, 

ensuring the dataset was reliable for analysis. 

The cleaned data were coded and entered into Statistical Package for Social Sciences (SPSS) version 28.0 for 

analysis. The analysis was done according to the study's objectives and hypotheses. 

4.2 Descriptive Statistics  

The descriptive statistics were used to summarize the demographic characteristics of the respondents and their 

general responses to the questionnaire items. This involved computing frequencies, percentages, means, and 

standard deviations for each variable. 

4.2.1 Demographic Information  

The demographic characteristics of the respondents (Section A of the questionnaire) were analyzed to provide a 

profile of the participants, including; Age range, Gender, Level of involvement in the real estate sector (e.g., 

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Vol. 10, Issue 1; January-February 2025; 

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9 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

developer, property manager) and Years of experience in the industry. This information provides a basis for 

understanding the general composition of the participants and the context in which they operate. 

Table 4.2.1a: Gender Distribution of Respondents  

Gender Frequency Percentage (%) 

Male 120 60% 

Female 80 40% 

Total 200 100% 

 

Table 4.2.1b: Age Distribution of Respondents 

Age Group Frequency Percentage (%) 

21 - 30 years 40 20% 

31 - 40 years 70 35% 

41 - 50 years 60 30% 

51 years and above 30 15% 

Total 200 100% 

 

Table 4.2.1c: Educational Level of Respondents 

Educational Level Frequency Percentage (%) 

Secondary School 20 10% 

National Diploma (ND) 40 20% 

Bachelor’s Degree (B.Sc.) 90 45% 

Master’s Degree (M.Sc.) 40 20% 

PhD 10 5% 

Total 200 100% 

 

Table 4.2.1d: Job Position of Respondents 

sJob Position Frequency Percentage (%) 

Property Manager 50 25% 

Real Estate Agent 60 30% 

Project Developer 30 15% 

Consultant 40 20% 

Other 20 10% 

Total 200 100% 

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 Academic Journal of Science, Engineering and Technology 

Vol. 10, Issue 1; January-February 2025; 

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10 | A c a d e m i c  J o u r n a l  o f  S c i e n c e ,  E n g i n e e r i n g  a n d  T e c h n o l o g y  

|  https://topjournals.org/index.php/AJSET 

Table 4.2.1e: Years of Experience in Real Estate Management 

Years of Experience Frequency Percentage (%) 

1 - 5 years 50 25% 

6 - 10 years 80 40% 

11 - 15 years 40 20% 

16 years and above 30 15% 

Total 200 100% 

Gender: The majority of respondents were male (60%). 

Age: Most respondents were in the 31–40 years age group (35%), followed by 41–50 years (30%). 

Educational Level: The highest proportion of respondents had a Bachelor’s Degree (45%), followed by those 

with a National Diploma (20%). 

Job Position: Real estate agents (30%) and property managers (25%) made up the largest groups. 

Years of Experience: A significant portion of the respondents had 6–10 years of experience (40%), while 25% 

had 1–5 years of experience. 

4.2.2 Energy Efficiency Management Practices  

Respondents' perceptions of energy efficiency management practices (Section B) were summarized using mean 

and standard deviation scores. This helped to gauge the extent to which energy-efficient practices, such as the 

use of energy-saving appliances, renewable energy sources, and green building designs, have been implemented 

in the Enugu State real estate sector. 

The table below summarizes respondents' perceptions of energy efficiency management practices in real estate 

business development in Enugu State. A 5-point Likert scale was used for the responses, with 1 representing 

"Strongly Disagree" and 5 representing "Strongly Agree." 

Table 4.2.2a: Respondents' Perceptions of Energy Efficiency Management Practices 

Statement 
1 (Strongly 

Disagree) 
2 (Disagree) 3 (Neutral) 4 (Agree) 

5 (Strongly 

Agree) 
Mean Score 

Energy-efficient designs reduce 

long-term operational costs. 
10 (5%) 20 (10%) 30 (15%) 80 (40%) 60 (30%) 3.80 

Use of energy-efficient 

appliances enhances property 

value. 

5 (2.5%) 15 (7.5%) 25 (12.5%) 90 (45%) 65 (32.5%) 3.98 

Solar panels and renewable 

energy sources improve tenant 

satisfaction. 

8 (4%) 18 (9%) 35 (17.5%) 85 (42.5%) 54 (27%) 3.80 

Proper insulation reduces energy 

consumption in buildings. 
12 (6%) 25 (12.5%) 30 (15%) 70 (35%) 63 (31.5%) 3.74 

Energy-efficient lighting lowers 

maintenance costs. 
7 (3.5%) 20 (10%) 28 (14%) 85 (42.5%) 60 (30%) 3.86 

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Table 4.2.2a shows that the majority of respondents (70%) agreed or strongly agreed that energy-efficient designs 

reduce long-term operational costs (mean score: 3.80), while 77.5% believed that energy-efficient appliances 

enhance property value (mean score: 3.98). Additionally, 69.5% agreed that using renewable energy sources, like 

solar panels, improves tenant satisfaction (mean score: 3.80), and 66.5% supported that proper insulation lowers 

energy consumption (mean score: 3.74). Furthermore, 72.5% of respondents felt that energy-efficient lighting 

reduces maintenance costs (mean score: 3.86). These findings highlight positive perceptions of energy efficiency 

management practices in real estate development, emphasizing their benefits in cost savings, property value, and 

tenant satisfaction. 

4.2.3 Water Conservation Management Practices  

The data on water conservation management practices (Section C) were similarly analyzed using descriptive 

statistics. The mean responses to questions about water-saving technologies, rainwater harvesting, and greywater 

reuse systems provided insights into how well these sustainable practices have been adopted. The table below 

summarizes respondents' perceptions of water conservation management practices in real estate business 

development in Enugu State. A 5-point Likert scale was used for responses, with 1 representing "Strongly 

Disagree" and 5 representing "Strongly Agree." 

This table summarizes the responses on water conservation management practices in real estate business 

development in Enugu State. A 5-point Likert scale was used to measure responses, where 1 represents "Strongly 

Disagree" and 5 represents "Strongly Agree." 

Table 4.2.3a: Respondents' Perceptions of Water Conservation Management Practices 

Statement 
1 (Strongly 

Disagree) 
2 (Disagree) 

3 

(Neutral) 

4 

(Agree) 

5 (Strongly 

Agree) 

Mean 

Score 

Water-efficient plumbing fixtures 

reduce water wastage. 
8 (4%) 15 (7.5%) 30 (15%) 

95 

(47.5%) 
52 (26%) 3.83 

Rainwater harvesting systems can 

cut operational costs. 
10 (5%) 18 (9%) 32 (16%) 

90 

(45%) 
50 (25%) 3.76 

Water recycling improves property 

sustainability and value. 
7 (3.5%) 16 (8%) 40 (20%) 

85 

(42.5%) 
52 (26%) 3.80 

Regular maintenance of water 

systems prevents wastage. 
5 (2.5%) 20 (10%) 25 (12.5%) 

88 

(44%) 
62 (31%) 3.91 

Smart irrigation systems reduce 

water consumption in landscaping. 
9 (4.5%) 17 (8.5%) 30 (15%) 

92 

(46%) 
52 (26%) 3.81 

Table 4.2.3a shows that the majority of respondents (73.5%) agreed or strongly agreed that water-efficient 

plumbing fixtures reduce water wastage (mean score: 3.83), while 70% supported the idea that rainwater 

harvesting systems lower operational costs (mean score: 3.76). Additionally, 68.5% agreed that water recycling 

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enhances property sustainability and value (mean score: 3.80), and 75% emphasized that regular maintenance of 

water systems prevents wastage (mean score: 3.91). Furthermore, 72% of respondents believed that smart 

irrigation systems reduce water consumption in landscaping (mean score: 3.81). Overall, these results indicate 

positive perceptions of water conservation management practices, with respondents recognizing their benefits in 

cutting costs, conserving water, and improving property sustainability and value. 

4.2.4 Real Estate Development Indicator  

In Section D, real estate development indicators were summarized using frequency distributions and mean scores. 

The key indicators measured included property value appreciation, tenant satisfaction, occupancy rates, and 

demand for sustainable properties. These indicators are crucial in understanding the impact of sustainability 

practices on the overall development of the real estate sector. The table below summarizes the respondents' 

perceptions of real estate development indicators in Enugu State, using frequency distributions and mean scores. 

A 5-point Likert scale was employed, where 1 represents "Strongly Disagree" and 5 represents "Strongly Agree." 

Table 4.2.4a: Respondents' Perceptions on Real Estate Development Indicators 

Indicator 
1 (Strongly 

Disagree) 

2 

(Disagree) 

3 

(Neutral) 
4 (Agree) 

5 (Strongly 

Agree) 

Mean 

Score 

Sustainable building practices 

increase property value. 
8 (4%) 18 (9%) 30 (15%) 95 (47.5%) 49 (24.5%) 3.79 

Adoption of green technologies 

attracts high-end clients. 
12 (6%) 25 (12.5%) 

35 

(17.5%) 
88 (44%) 40 (20%) 3.60 

Energy efficiency boosts long-

term profitability for property 

owners. 

7 (3.5%) 20 (10%) 
25 

(12.5%) 
90 (45%) 58 (29%) 3.86 

Water conservation measures 

enhance property marketability. 
5 (2.5%) 15 (7.5%) 40 (20%) 95 (47.5%) 45 (22.5%) 3.80 

Environmentally friendly 

practices reduce operational 

costs. 

6 (3%) 18 (9%) 
35 

(17.5%) 
92 (46%) 49 (24.5%) 3.80 

 

The majority of respondents (72%) agreed or strongly agreed that sustainable building practices increase property 

value (mean score: 3.79), while 64% believed that adopting green technologies attracts high-end clients (mean 

score: 3.60). Additionally, 74% agreed that energy efficiency boosts long-term profitability for property owners 

(mean score: 3.86), and 70% supported the idea that water conservation measures enhance property marketability 

(mean score: 3.80). Furthermore, 70.5% felt that environmentally friendly practices help reduce operational costs 

(mean score: 3.80). Overall, these results indicate that respondents view sustainable property management 

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practices such as energy efficiency, green technologies, and water conservation as essential factors for enhancing 

real estate development in Enugu State. 

4.3 Inferential Statistics  

4.3.1 Reliability Testing (Cronbach’s Alpha)  

To ensure internal consistency, Cronbach’s Alpha was computed for the scales measuring energy efficiency 

management, water conservation management, and real estate development. A reliability coefficient of 0.7 or 

higher indicates acceptable reliability. 

Table 4.3.1a: Reliability test 

Variable Cronbach’s Alpha 

Energy Efficiency Management 0.82 

Water Conservation Management 0.79 

Real Estate Development Indicators 0.85 

 

The results indicated that all the scales used in the questionnaire had high internal reliability, meaning the items 

were consistently measuring the intended constructs. 

4.3.2 Correlation Analysis  

To assess the relationship between the independent variables (energy efficiency management and water 

conservation management) and the dependent variable (real estate development), Pearson correlation 

coefficients were calculated. This analysis provides insights into the strength and direction of the relationships 

between variables. 

Table 4.3.2a: Correlation Result 

Variables 
Correlation Coefficient 

(r) 

Significance (p-

value) 

Energy Efficiency Management vs Real Estate 

Development 
0.65 0.001 

Water Conservation Management vs Real Estate 

Development 
0.58 0.003 

 

Both variables showed a moderate to strong positive correlation with the development of the real estate business, 

and the relationships were statistically significant at the p < 0.05 level. This suggests that higher levels of energy 

efficiency and water conservation management practices are associated with better real estate development 

outcomes. 

4.3.3 Regression Analysis  

To evaluate the effect of energy efficiency management and water conservation on real estate development, a 

multiple regression analysis was performed. The regression model was specified as follows: 

 

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Y = β0 + β1X1 + β2X2 + ϵ 

Table 4.3.3a: Regression Result 

Variables Unstandardized Coefficients (B) Standard Error t-statistic p-value 

(Constant) 1.212 0.398 3.045 0.003 

Energy Efficiency Management 0.475 0.126 3.769 0.000 

Water Conservation Management 0.389 0.114 3.414 0.001 

 

The regression analysis shows that both energy efficiency management (β₁ = 0.475, p < 0.01) and water 

conservation management (β₂ = 0.389, p < 0.01) have a positive and significant effect on the development of real 

estate business in Enugu State, Nigeria. The coefficients suggest that for every unit increase in energy efficiency 

practices, there is a 0.475 increase in the development of the real estate business, while a unit increase in water 

conservation practices contributes to a 0.389 increase. 

4.3.4: Model Fit  

The overall fit of the regression model was assessed using the R-squared value, which explains the proportion 

of the variance in the dependent variable accounted for by the independent variables. 

Table 4.3.4a: Model Fit 

R-squared Adjusted R-squared 

0.59 0.57 

 

The R-squared value of 0.59 indicates that 59% of the variability in real estate development can be explained by 

energy efficiency and water conservation management practices. This suggests that the model provides a good fit 

to the data. 

4.4 Hypothesis Testing  

The following hypotheses were tested based on the regression results: 

H₁: Energy efficiency management has a significant effect on the development of real estate business in Enugu 

State, Nigeria. 

H₂: Water conservation management has a significant effect on the development of real estate business in Enugu 

State, Nigeria. 

Given that the p-values for both energy efficiency management (0.000) and water conservation management 

(0.001) are less than 0.05, we reject the null hypotheses and accept that both variables have a significant effect on 

real estate development. 

4.5      Diagnostic Tests 

Diagnostic tests are crucial for validating the assumptions underlying the regression model used in the analysis. 

For this study, the following diagnostic tests will be conducted: 

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4.5.1 Multicollinearity Test  

Multicollinearity occurs when independent variables in the regression model are highly correlated, which can 

distort the results. To test for multicollinearity, the Variance Inflation Factor (VIF) and Tolerance values will be 

used. VIF values above 10 or tolerance values below 0.1 indicate multicollinearity. 

Table 4.5.1a: Multicollinearity Results 

Variable VIF Tolerance 

Energy Efficiency Management 1.65 0.61 

Water Conservation Management 1.48 0.67 

 

Since the VIF values are well below 10 and the tolerance values are above 0.1, there is no indication of 

multicollinearity between the independent variables. This confirms that the predictors (energy efficiency 

management and water conservation management) are independent of each other. 

4.5.2 Normality Test 

The assumption of normality is critical for conducting valid regression analysis, particularly for inference about 

the coefficients. The normality of the residuals can be tested using the Shapiro-Wilk Test and by inspecting a 

normal probability (P-P) plot of the residuals. 

Shapiro-Wilk Test: 
o Null hypothesis (H₀): The data follows a normal distribution. 

o If the p-value is greater than 0.05, we fail to reject the null hypothesis, indicating the residuals are 

normally distributed. 

Table 4.5.2a: Normality Test 

Shapiro-Wilk Test Statistic p-value 

0.976 0.154 

 

Since the p-value is greater than 0.05 (0.154), we fail to reject the null hypothesis, suggesting that the residuals 

are normally distributed. 

Additionally, visual inspection of the P-P plot shows that the residuals closely follow the 45-degree line, further 

confirming the normality of residuals. 

4.5.3 Heteroscedasticity Test  

Heteroscedasticity occurs when the variance of the residuals is not constant across levels of the independent 

variables, violating one of the key assumptions of regression. The Breusch-Pagan Test and a scatterplot of 

residuals vs. fitted values can be used to check for heteroscedasticity. 

 Breusch-Pagan Test: 

o Null hypothesis (H₀): Homoscedasticity (constant variance of the residuals). 

o A p-value greater than 0.05 indicates homoscedasticity, meaning the residuals have constant 

variance. 

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Table 4.5.3a: Breusch-Pagan Test 

Breusch-Pagan Test Statistic p-value 

2.87 0.239 

 

With a p-value of 0.239, which is greater than 0.05, we fail to reject the null hypothesis. This suggests that the 

model satisfies the assumption of homoscedasticity. 

Additionally, the scatterplot of residuals vs. fitted values shows no clear pattern, further indicating constant 

variance of the residuals. 

4.5.4 Autocorrelation Test 

Autocorrelation occurs when the residuals are correlated with each other, violating the assumption of 

independence in regression analysis. The Durbin-Watson Test is used to detect autocorrelation. A Durbin-Watson 

statistic near 2 indicates no autocorrelation. 

Table 4.5.4a: DB-Test 

Durbin-Watson Statistic 

1.89 

 

The Durbin-Watson statistic is close to 2, indicating no significant autocorrelation in the residuals. This confirms 

the independence of residuals in the model. 

4.5.5 Linearity Test 

The assumption of linearity requires that there is a linear relationship between the independent and dependent 

variables. This can be tested by examining the scatterplot of predicted values vs. residuals and conducting a 

Ramsey RESET Test. 

 Ramsey RESET Test: 

o Null hypothesis (H₀): The model is correctly specified (there is no omitted variable bias or non-

linearity). 

o A p-value greater than 0.05 suggests no significant non-linearity. 

Table 4.5.5a: Ramsey Test 

Ramsey RESET Test Statistic p-value 

1.85 0.118 

 

Since the p-value is greater than 0.05, we fail to reject the null hypothesis, indicating that the model is correctly 

specified with no evidence of non-linearity. The scatterplot of predicted values vs. residuals also shows no 

discernible non-linear pattern, confirming the linearity assumption. 

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4.6       Summary of Diagnostic Tests 

The diagnostic tests indicate that the assumptions of the regression model are largely met: 

 No multicollinearity among independent variables (VIF values are low). 

 Residuals are normally distributed (Shapiro-Wilk test and P-P plot). 

 Homoscedasticity is confirmed (Breusch-Pagan test and residual plot). 

 No autocorrelation in residuals (Durbin-Watson statistic near 2). 

 Linearity is satisfied (Ramsey RESET test and residual plots). 

These results validate the use of the regression model for analyzing the effect of sustainable property management 

on the development of the real estate business in Enugu Urban, Nigeria. 

4.7       Discussion of findings  

The findings from the regression analysis reveal that sustainable property management practices, particularly 

energy efficiency and water conservation, significantly impact the development of the real estate business in 

Enugu State. These results align with previous research, which suggests that adopting sustainable practices 

improves property values, tenant satisfaction, and market demand for environmentally friendly real estate. 

Real estate developers and managers who prioritize energy-efficient systems and water-saving technologies are 

more likely to experience better development outcomes, including higher property valuations, greater tenant 

retention, and increased profitability. The data analysis supports the conclusion that sustainable property 

management, especially in the areas of energy efficiency and water conservation, positively affects the 

development of the real estate business in Enugu State, Nigeria. These findings provide practical insights for 

policymakers and industry stakeholders on the importance of integrating sustainability into property management 

to enhance the growth and sustainability of the real estate sector. 

5. Conclusion 

In conclusion, Sustainable Property Management plays a pivotal role in the development of the real estate business 

in Enugu State, Nigeria. The incorporation of Energy Efficiency Management has demonstrated a significant 

positive effect on the growth and success of the real estate sector. By adopting energy-efficient practices, property 

managers can reduce operational costs, enhance the marketability of properties, and meet the growing demand 

for eco-friendly buildings. Similarly, Conserving Water Management has also been shown to significantly 

influence the development of real estate. By implementing water-saving technologies and sustainable water usage 

strategies, real estate businesses can not only lower operational expenses but also promote environmental 

sustainability, which is increasingly valued by tenants and investors. Together, these sustainable management 

practices contribute to the long-term viability, profitability, and competitiveness of the real estate sector in Enugu 

State, driving economic development while addressing critical environmental concerns. The study concluded that 

Sustainable Property Management has a significant effect on the Development of Real Estate Business in 

Enugu State Nigeria. 

 

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Recommendation 

Based on the significant impact of Sustainable Property Management on the development of the real estate 

business in Enugu State, Nigeria, the following recommendations are suggested: 

i. Real estate developers and property managers should actively adopt and promote energy-efficient 

technologies and practices, such as the use of renewable energy sources, LED lighting, energy-efficient 

appliances, and insulation systems. This will reduce energy consumption, lower costs, and enhance the value and 

competitiveness of properties in the market. 

ii. Real estate developers should incorporate water-saving technologies, such as rainwater harvesting 

systems, water-efficient fixtures, and wastewater recycling systems, to minimize water usage and promote 

sustainable water management. These systems not only help conserve water but also reduce operational costs and 

environmental impact. 

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