"Buy land, they're not making it anymore" — Mark Twain, writer
Key Terms
Property development – the process of acquiring land and constructing buildings for occupation, sale or investment. Development also includes improving and/or changing the use of existing buildings.
Development value – where the value of land or buildings can be increased by the application of capital.
Property development is an entrepreneurial activity that seeks to satisfy demand in the property market, by involving the use of factors of production: LAND for site, LABOUR to design, construct and manage the process; CAPITAL to pay for process.
A property developer combines LAND, LABOUR & CAPITAL for a lifetime investment. At Proma Africa, we will assist on the following for professional and sound decision making:
- Carry-out market search on demand for the property suggested by our Client and provide alternatives if there is any.
- Facilitate selection of a location and identify a good site for our property development.
- Assist in land acquisition, either from the Government for investment purposes or through Private purchase.
- Assist in seeking planning consents for the property development.
- Assist on documenting the financing stage/ source of finance.
- Produce a detailed plan on the property development.
- Assist in issuing tender documents for construction.
- Conduct market search for SELL or LETTING or even PROPERTY MANAGEMENT.
- Conduct a post-occupancy survey and reporting as specified by a client.