“[…] developers must understand the users and their needs. Without users, buildings – no matter how aesthetically pleasing or how theoretically functional – have no value.”
What is Real Estate Development/Land Development?
Real estate development is the continual reconfiguration of the built environment to meet society’s needs.
The 8 Stages Non-linear Process of Real Estate Development
Inception of an Idea: market research, problem solving, creating
Refinement of the Idea: site selection, project design
Feasibility: public and private review
Contract Negotiation: contractors, tenants, regulators
Formal Commitment: contracts and entitlements
Completion and Formal Opening: marketing , sales
Property, Asset, and Portfolio Management” tenants and technology