Real estate developer (American English) -Property developer (British English)
Buys to do improvements of to real property, to increase value. The developer may be an individual, but is more often a partnership, limited liability company or corporation.
Categories of real
estate development activity: land development and building development.
Land
developers typically acquire natural or unimproved land (often referred to as
englobo land, raw land, real property with no improvements or infrastructure)
and improve with utility connections, roads, earth grading, covenants, and entitlements.
Although there are specific educational programs tailored to teaching real estate finance with an emphasis on development (typical MBA programs at university-level business schools), most real estate developers enter the business from other professional areas. Most often, persons in related fields (architecture, accounting, law, engineering, construction, planning) via personal interest and opportunity, and then choose to make a career if successful.
The process of real estate
development
Although the process for development of real estate varies
from project to project, the various phases can be categorized roughly as follows,
approximate chronological order:
Market research
Site
selection - feasibility analysis
Due diligence - preliminary pro forma
Property
acquisition, perhaps using option to buy
Project design - refined pro forma
Obtain entitlements
Financing / final pro forma
Construction
Lease-up
- sales
Operation
Real estate development and land management company
Such a companies are often involved in construction management and property management,
A property management company is tasked with the responsibility of managing the multiple aspects which come along with the ownership of real estate. This is much akin to the role of management in any business.
http://www.planningportal.gov.uk/ planning portal
Scotland's Building Standards Agency
http://www.uli.org/ professional association for real estate developers
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