ABSTRACT
Development and planning, together with maintenance, conversion and rehabilitation are the activities which create and sustain the built environment. This forms a large part of the physical environment in which we live. The form, distribution and condition of the built environment are important factors in determining the nature and functioning of the national economy, social conditions and lifestyles. The built environment constitutes a large part of national capital. Annual development generates about half of national fixed capital formation and consumes about onetwelfth of national income, the proportions currently being much lower than in the past.
