INTEGRITAS
PROPERTY GROUP
PROPERTY GROUP
Property development is a dynamic and multifaceted field that encompasses the intricate processes of acquiring, transforming and maximising the value of property.
There are three key phases to flawlessly executing a development project including pre-development, the development stage, and close-out and operations.
The pre-development phase is a time-consuming step towards developing the final ideas and plans of a project, conducting thorough evaluations that determine how value can be added, as well as working with local authorities to meet regulated standards.
Around 80% + of the project’s value is created during the pre-development stage when land is acquired, and financial commitments are secured. Most importantly during this stage, a developer will look to form responses to market and funding environment changes, making it easier to address any issues before development begins and amend plans.
In times where delays could impact development, such as a worldly pandemic, the pre-development stage should include a forecast aimed at amending, expanding and limiting timescale issues and budgets accordingly to keep all parties agreeable throughout the process.
The development stage means construction can finally begin, with this phase accounting for around 80-90% of the total project costs.
The outcome of construction primarily relies on the quality of pre-development strategy to avoid forecasted delays, monitoring and managing the whole process. Stages managed through-out include cost control, safety, performance, quality, programme, as well as design and development as anon-going project in collaboration with the design team to overcome any unforeseen challenges faced.
Ensuring all regulated legislation is met, a considerate and ethical developer will also look to ensure minimal impact on the surrounding neighbourhoods is a priority in order to preserve and conserve the environment.
Closeout and operations consist of post development activities such as marketing, leasing, and other management tasks that can begin during pre-development stages. From the beginning of a project, the developer will have a market in mind as to who they sell to, with those such as Integritas Property Group choosing to create investments for sale to others through trusted agents during the development stages, meeting a supply ingrowing demand and affordable living.
Involving a series of interconnected processes, property development is an ever-evolving endeavour that holds the power transform communities, generate economic growth and leave a lasting legacy when done correctly.
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