A dip into estate development waters-Part I

Nov / 28 / 2018

Have you ever been interested in being a developer or owning properties? This article will satisfy your basic curiosity motion from just a concept in mind to actual realization. Dip your toes in the real estate waters, shall we?

The Developer

The developer is the main idea or brain behind a building or facility you see and could either be an individual or a corporate body. The Edge at Cantonments, The Acasia, The Nova and Niiyo at Dzorwulu are all brainchild’s of a developer, in this case, Devtraco Plus. The developer coordinates all activities, converting ideas from paper to real property.

Market Research

The journey usually begins with acquiring a piece of land for development. With the land, there is a clearer picture on which idea best suits the location. Then a feasibility study can be conducted which consists of an Intensive research that goes into how viable the idea is with projections to support the business case. A thorough investigation of the current market price and demand analysis key components of this study and will inform decision making moving forward.

Finance

Based on recommendations from the feasibility study, funding can be secured or made available for the project. The financial framework is built at this point and this gives headway for project to actually begin.

Government

All protocol must be duly observed. It’s important to get government approvals and goodwill for the property and generally, being in good standing with all stakeholders, environmental consultants, legal, just to name a few. All permits must be secured and the neighborhood be psyched for the project ahead.

Laying these solid foundation bricks, the real work begins. We continue with the project team in concluding part.

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