What pre-construction actions are taken by developers?
After satisfactory performance of due diligence and needs and use analysis, the following occur: Acquisition of a plot of land for a property development project is subject to sati...
What occurs in the property post-completion phase?
Depending on the property development strategy, the final stage of the development process is either operation, including the renovation, rehabilitation and reconstruction and re-l...
What is vertically integrated development?
The vertical integration of property developers allows for effective project development risk management. As a business model, it enables risk management across all phases of the...
What is the subdivision of land?
Subdivision is the act of dividing all or part of a parcel of raw land into individual sections (lots) by a land developer and converting the land into developed property, which ma...
What is the property construction phase?
The construction phase in property development is the period that begins when decisions for the actual construction are made at a pre-construction meeting and end when construction...
What is the loan value of real estate?
The maximum amount a lender is prepared to advance as a percentage of the value of the eligible collateral is loan-to-value (LTV). LTV is expressed as the ratio of the loan amount...
What is the hotel property project life cycle?
Property development is the development of real estate. The property development life cycle starts with the original idea for a development project and commonly ends for the devel...
What is the hotel operator selection process?
Operator selection is undertaken by developers and business owners for the appointment of the hotel management operator. The process involves candidate identification, screening,...
What is the hotel business plan?
The business plan provides a detailed summary of the objectives of an intended business undertaking and an outline of the actions required to achieve its operational and financial...
What is the development management agreement?
A development management agreement (DMA) between a developer and an independent development manager assigns overall management responsibility for a development project to the devel...
