The parties in the development process:

The six main parties involved in the development process are:

1. The professional advisers
The architect, quantity surveyor, valuer, planning consultant and possibly consulting engineer,
construction manager and project manager.

2. The clients
The developer and the landowner, who could be an occupier or an investor/trade in
development property. The client could be a private or public sector client. The client could be
the owner of extensive estates such as a statutory undertake or the heir to historical landed
estates, it could be a major investor like a financial institution such as a pension fund or
insurance company.

3. The planning authority
The planning authority would deal with planning and highway matters and may have policies to
encourage development for employment purposes for instance.

4. The contractor
The contractor is employed on the construction of the building and may in turn employ
subcontractors. The nature of the building contract or method of building procurement, as it is
now more commonly termed, will determine the relationship of the contractor with the client.


5. The community
Local residents may have views on the proposed development in addition to the planning
authority as may pressure groups or specific interest groups affected by the development
proposal.

6. The funders
These are providers of short term funds for the development and the providers of long term
funds in the event of buyout or partnership arrangement at the end of the development. The
development may be initially funded by the client who may also be an owner-occupier or
financial institution.
The role of property development in the economy
1. To revitalize the economy by encouraging investment
2. To use the assets available in the production process to obtain greater economic growth and
added value.
The need for efficient property relates to government policy
The post war policy of demand management led to:
- Adjustment in government spending and taxation
- Deflation and reflection of the economy
- Problems of inflation
The solve inflation:
- The economists looked at the supply side of the economy
- Saw the need to encourage efficiency and competitiveness in world markets.
- Hence saw the need for efficient space and
- Hence the need for effective property development.

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Development is a land conversion process by charge of use, construction, reconstruction or renovation
of land or buildings. The scale of charge differs ant the change is motivated because of client needs. If
the clients needs are profit oriented then this conversion process is generally stimulated by the need to
achieve higher profitability from land use or business enterprise. If we assume that developers and
property owners to maximized profits, then there are 2 necessary preconditions before a development
project will be initiated:
1. The expected value of the completed development must exceed the cost of the site and the
development costs, including a sufficient level of profit for the developer.
2. The value of the site for development purposes must match (or exceed) its value for existing
use.
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There were key phases in the development process : evaluation, preparation, implementation, and
disposal. The most important phase was evaluation.
evaluation encompasses both the analysis of the marketplace in general and in particular market
research and the financial assessment of the project. It should be carried out before any commitment
is undertaken and while the developer retains flexibility evaluation involves the combined advice of
the development team but in the end and the responsibility for interpreting that advice rests with the
developer who has decide whether or nor to bear the risk of the project.
12 main stages development process
1. Choosing a location
2. Identifying a site and carrying out a detailed site survey
3. Providing an outline scheme and appraisal
4. Negotiating for site acquisition
5. Design
6. Planning consent
7. Finance
8. Site acquisition
9. Detailed plans
10. Tender documents for construction
11. Construction
12. Occupation or marketing and management.

One of the major problems facing property development is the supply of land and building in
appropriate locations for development. By providing urban land, rather than looking for Greenfield sites
with the associated environmental consequences, problems of development would be lessened.

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The development process

Initial consideration

Clients requirement

3 factors (time, cost, quality)
Assess vialibity
(depends on funding, planning, professional team, site appraisal)

Planning

Funding

Establish the project team

Prepare brief(architects design and costs from the QS and planning application

Construction

Marketing and process