Real estate investment development, which is considered the cornerstone of any successful real estate investment, given that choosing the appropriate real estate developer is one of the most important things that the investor must focus on in order to be able to implement a successful real estate project and benefit from it to the fullest.
It can be said that with the increase in real estate projects in In Egypt and the Arab world, a large group of real estate development companies and real estate developers have emerged, making choosing the appropriate company not an easy matter, especially if investors are not fully aware of all the principles and steps of real estate development, so if you want to know more details about real estate development and tips when contracting with… Real estate developer Follow us until the end.
Real estate investment development
Real estate investment development can be defined as a type of modern business that has emerged in conjunction with the progress witnessed in the field of reconstruction, building construction, and huge projects, which require careful and advance planning. The task of real estate development is the partial or total repair of old real estate, modernization of already existing buildings, purchase of land, and establishment of a project.
Innovate on it and then market that project by selling it or achieving the maximum possible benefit from it. In order for companies to be able to achieve this, they must develop a well-thought-out plan, which consists of developing the project idea, carrying out a feasibility study, financing sources, choosing a contractor, and studying the marketing and sales strategy, which ensures the success of the project.
The real estate developer also has great experience and relationships with many different bodies throughout the stages of real estate development, enabling him to obtain an integrated view of all project details and see the strengths and weaknesses of the project he supervises before starting it, in addition to presenting the best idea for the project.
It is worth noting that the company Kinda Real Estate is the best real estate development company in Egypt because it has great experience in the field of real estate that enables it to implement many projects at competitive prices.
Real estate development steps
In continuation of our talk about developing real estate investment, we will talk about the steps of real estate development, which vary depending on the nature of the project, its data, and its spatial and temporal conditions, but it can be said that there are some main steps provided by Kinda Real Estate Company , which contribute greatly to the success of the project and achieving the highest possible profit, and it can be View those steps as follows:
Preparing all ideas related to project implementation
Preparing ideas is considered one of the most important steps in real estate development because it is based on the developer’s vision and his knowledge of the needs of the market and society at the present time. It can be said that the real estate developer, at this stage, prepares financial studies to ensure the feasibility of the project and the possibility of its success.
It is worth noting that Kinda Real Estate Company is one of the most important steps in real estate development. The best real estate investment development companies in Egypt and the Arab world because they have great experience in the field of real estate that enables them to implement all projects very efficiently.
Initial implementation of ideas
This step consists of crystallizing ideas through the real estate developer studying the site, conducting financial studies and initial designs for the project, then preparing market studies, financial feasibility and designs that enable the real estate developer to obtain the necessary licenses to implement the project.
Final designs
After the real estate developer obtains the necessary licenses, the final designs step comes, in which the real estate developer negotiates construction contracts, chooses the professional contractor to contract with him, and contracts with financiers to obtain real estate financing for the project.
Signing contracts
After completing the final designs step and reaching an agreement on all the details of the project, the real estate developer works to sign the contracts for the project, which are construction, financing, supply, and other important contracts to begin implementing the project.
Building
In this step, the real estate developer or development company follows up the progress of work according to the time and financial plan established for the project, in addition to direct supervision and continuous follow-up on all aspects of construction and changes that occur to the project. The real estate developer also works to follow up on the problems that occur to the project and address them with the lowest material and temporal costs. possible.
Final step
The final step in developing a property is to open the project after construction is complete and ensure it is ready for use, in addition to supervising the marketing campaign if it is a commercial project and contracting with project management companies.
It is worth noting that the task of the real estate developer does not end with these steps, but rather the importance of Developing real estate investment in managing modern real estate and monitoring its operation while maintaining its value and marketing it permanently, which ensures obtaining the highest amount of profits over the years.
Tips when contracting with a real estate developer
After learning about real estate investment development, we will present some tips provided by Kinda Real Estate Company that must be followed before contracting with the real estate development company as follows:
- Obtain as much data as possible about the development company, its history and experience.
- Inquire about all the detailed information about your project and not be satisfied with the information available in advertising media, in addition to requesting maps of the chosen site from the developer and asking any question he wishes, such as the exact completion time.
- Study all costs and ensure capital.
- Make alternative plans and prepare for any emergency situation.
- Writing penal terms in the event that the developer is unable to complete the project on the specified date, in addition to identifying the method of dealing in the event that he is late in delivering the project.
- Inquire about the real estate developer’s services after completing the project in order to learn about all future plans to support and market the project.
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Skills that must be available in a real estate developer
In continuation of our talk about developing real estate investment, we will clarify the skills that must be available in a real estate developer, which vary according to the type and size of the project, but there are some basic skills that must be available in a real estate developer, which can be presented as follows:
- Strong business acumen and thorough knowledge of the real estate market.
- Strong skill in analysis and problem solving.
- Have strong negotiation and communication skills.
- Strong project management skills.
- Have great financial skills, most notably the ability to create and manage budgets and timelines.
- Strong personal skills, most notably the ability to build strong relationships with key business owners such as investors, contractors, and government officials.
- Have strong technical skills, most notably knowledge of building laws and regulations.
- It is worth noting that the educational qualification required for a real estate developer varies according to the type and size of the project, since there are some professional real estate developers who possess a relevant certificate such as business, finance, or real estate, while others hold a professional degree in architecture or construction management, so it can be said that Experience and knowledge of real estate market trends and the real estate industry determine the professionalism of the real estate developer, in addition to the presence of strong relationships between him and suppliers, contractors and buyers.
Thus, we have reached the conclusion of our topic on real estate investment development, in which we talked about real estate development and the steps that a real estate developer follows in implementing projects, in addition to presenting some important advice before contracting with a real estate developer.
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