Development means the conception and preparation of real estate projects of a certain size and volume. It includes studies, the decision-making process and preparation in order to construct buildings.
An important part is to financially secure the planned usage of the concerned objects.
From the idea to the first profit
Usually real estate development includes all services from acquisition of the property and strategies for the construction to building. Main goal is to either sell or operate the project. As developers can appear either companies founded especially for the project, the owner, construction firms or service providers (like architects or real etate agents).
According to a definition which focusses on the developer's task, project-development is a combination of the factors site, capital and idea, trying to develop real estate with specific attributes:
• microeconomic competitive
• creating jobs
• socially compatible and environmentally sustainable
A definition of their mode of operation shows the developed projects as the sum of all technical, juridically and economically steps taken in order to realize the project within preconceived cost-, qualtity- and time frames.
The developer - center of activity
Normally the developer organizes planning and the management of capital, and coordinates work between owners and commercial users to follow. He is usually assisted by a team of experts, including architects, engineers, lawyers and city planners.
