As the markets for real estate usually remain stable in many areas of in the world, opportunities continue to exist for the development of real estate projects. This lecture is designed to analyze the real estate development process primarily from the perspective of the developer. The lecture concentrates on the development of a real estate project from its conceptual ideas until the operational start-up, and from the initiation of the concept designs until the project is defined.
The lecture examines most of the phases of the development process, from idea inception through studying the various available options for the use of the lands and estimating the projects’ costs and income to determine the best and optimum commercial use of the lands. This includes an overview about the development of the project’s financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects.
The lecture is introductory in scope and assumes attendants have little or no experience with the development process.
An understanding of the real estate development process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.
Learning Objectives and Outcomes:
- List the components of the real estate development process
- Conduct market survey and examine the demand and supply of the real estate market
- Determine the best and optimum commercial use of the lands
- Shortlist and appoint consultants
- Identify and evaluate the critical elements of a real estate development
- Evaluate financial feasibility of real estate development
- A general overview of each phase of the development process
Mr. Jrab is the Head of Business Development & Marketing for Trillium Development with 21 years of business experience out of which 8 years in Real Estate Development. He has worked with the three well known groups in Saudi Arabia & UAE i.e. Saudi Bin Laden Group, Al-Ghurair Group & Emaar Properties. As a team leader in the Burj Dubai master plan development, Mr. Jrab was responsible of the development of Burj Dubai Boulevard and Burj Dubai Fountain (the world’s biggest fountain).