Assessing the value of flexibility in the Dutch office sector using real option analysis

摘要

Flexibility is one of the key aspects of the Zuidas project, a major construction project for office and housing space in the Amsterdam region. Real option analysis was used to estimate the value created by two specific kinds of flexibility: the option to postpone the construction of office space after certain preparations have been made, and the option to turn housing space into office space after a certain time.