ABSTRACT
This chapter discusses property development in the broader context of internationalisation, created by the increasing interaction between national economies and the globalisation of businesses as a result of access to fast, reliable information due to advances in communications technology. It describes the concept of globalisation and then explains within the broader context of property. The chapter examines the opportunities for international property development, along with the drivers for international property development. Cultural barriers may exist when a property company used to conduct business in a western civilisation then seeks to develop property in a country with a transitional or emerging economy. The increasing internationalisation of property markets has increased the level of demand for property, although arguably at times this has exposed property investors to additional risk. Structural risk may come from within the property development industry itself, although growth risk may occur from the anticipated growth of the overall property market.
