“Buy land, they're not making it anymore.” — Mark Twain

Key terms

Property development is the process of acquiring land and constructing buildings for occupation, sale or investment. Development can also include improving or changing the use of existing buildings.

Development value refers to the increase in the value of land or buildings that can result from applying capital and improving the asset.

Property development is an entrepreneurial activity that seeks to meet demand in the property market. It combines land, labour and capital: land provides the site, labour supports design, construction and management, and capital finances the process.

A developer therefore brings together multiple decisions over the life of an investment. Proma Africa can support clients through the following stages:

  1. Carry out market research on demand for the proposed property and identify suitable alternatives where relevant.
  2. Support location selection and identification of an appropriate development site.
  3. Assist with land acquisition, whether through government investment processes or private purchase.
  4. Support planning-consent requirements for the proposed development.
  5. Assist with documenting the financing stage and potential sources of finance.
  6. Support development of a detailed plan for the property project.
  7. Assist with preparation and issue of tender documentation for construction.
  8. Conduct market research for sale, letting or ongoing property management.
  9. Conduct post-occupancy review and reporting where required by the client.

Why the sequence matters

Development decisions compound. Weak site selection, incomplete due diligence or unclear planning requirements can affect financing, construction and eventual market performance. A structured process helps identify those issues before they become expensive constraints.

Where Proma Africa fits

Proma Africa's role is advisory: bringing together property, land, market, asset and management considerations so clients can evaluate a development opportunity with a clearer understanding of the decisions ahead.