Dissertation Title: ASSESSMENT MODEL OF SUSTAINABILITY IN THE SECTOR OF ASSET BUILDING REAL ESTATE: THE CASE OF STRATEGIC INVESTMENTS IN ALBANIA

Author: Fabjola DORRI 

• Institution: University of Tirana,  Faculty of Economics, Department of Statistics and Applied Informatics

• Field of study:  Information Systems Economy

• Publication date: 01.09.2026

• The dissertation is published in Albanian.

© Copyright: Fabjola DORRI 

Published by the University of Tirana
Based on legal acts, regulations and policies of the UT

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Abstract

The real estate sector in Albania is a fundamental pillar of economic growth, yet its rapid expansion is not supported by valid instruments for measuring the sustainability of investments. This study designs and validates the Integrated Sustainability Assessment Model (ISAM) for the real estate sector in Albania, using strategic investments as an empirical case study. The methodology includes five rigorous stages: systematic review through the PRISMA protocol (67 studies, 46 initial indicators), local adaptation, content assessment through the CVI method (n=85 experts), determination of weights through the SWARA method (n=78 experts) and sustainability analysis through Monte Carlo simulation (10,000 iterations). The findings confirmed 18 valid indicators (I-CVI ≥ 0.78; S-CVI/Ave = 0.846), high agreement among experts (W = 0.79–0.86; p < 0.001) and high consistency in the rankings (77.8%). The dimensional hierarchy (EC 32.4% > EN 27.8% > SO 23.5% > TE 16.3%) demonstrates that developing economies prioritize economic sustainability over environmental sustainability, thus providing an empirical basis for the global sustainability framework. The contribution extends to three levels: theoretical (sustainability hierarchy as a phenomenon conditioned by the level of economic development), methodological (comprehensive and reproducible CVI-SWARA-Monte Carlo protocol) and practical (decision-making tool at the service of SIC and AIDA, reproducible in Western Balkan countries with a similar development profile).

Field: This research develops and validates the Integrated Sustainability Assessment Model (ISAM) for the real estate sector in Albania, combining content validity assessment (CVI), criterion weighting (SWARA) and robustness analysis (Monte Carlo), within the framework of applied economics and sustainable development.

Keywords: sustainability assessment; real estate; developing economy; multi-criteria decision making; SWARA; content verification; Monte Carlo simulation.

JEL Code: C44, O18, R30

 

Abstract

The real estate sector in Albania constitutes a fundamental pillar of economic growth; however, its rapid expansion has not been matched by validated instruments for evaluating the sustainability of investments. This study constructs and verifies the Integrated Sustainability Assessment Model (ISAM) for the real estate sector in Albania, employing strategic investments as the empirical case study. The methodology encompasses five rigorous stages: systematic review adhering to the PRISMA protocol (67 studies, 46 initial indicators), local contextualization, content validation using the CVI method (n=85 experts), criterion weighting using the SWARA method (n=78 experts), and robustness analysis via Monte Carlo simulation (10,000 iterations). Findings verified 18 valid indicators (I-CVI ≥ 0.78; S-CVI/Ave = 0.846), strong expert consensus (W = 0.79–0.86; p < 0.001), and high-ranking stability (77.8%). The dimensional hierarchy (EC 32.4% > EN 27.8% > SO 23.5% > TE 16.3%) reveals that transition economies favor economic sustainability over environmental sustainability, thereby providing empirical grounding for the global sustainability framework. The contribution spans three dimensions: theoretical (the sustainability hierarchy as a context-sensitive phenomenon shaped by the stage of economic development), methodological (a comprehensive and reproducible CVI-SWARA-Monte Carlo protocol), and practical (a decision-support tool serving KIS and AIDA, transferable to Western Balkan countries sharing comparable developmental profiles).

Field of study: Applied Economics and Sustainable Development

Keywords: sustainability assessment; real estate sector; transition economies; multi-criteria decision-making; SWARA; content verification; Monte Carlo simulation.

JEL Code: C44, O18, R30