ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book defines concepts and details processes involved when undertaking property development. It a practical book which describes the process of property development, enabling the reader to obtain a comprehensive understanding of the fundamental concepts and conceptual framework for property development. Undertaking a property development is largely about the ‘process’ of developing a property. The development process can be sequentially divided into major stages: initiation; investigation and analysis of viability; acquisition; design and costing; consent and permission; commitment; implementation; and leasing/managing/disposal. The main stakeholders in the development process are the landowners, developers, public sector and government agencies, planners, financial institutions and lenders, building contractors, and real estate agents. Developers employ a range of professionals to advise them at various stages of the development process such as planning consultants, market research analysts/economic consultants/valuation surveyors, architects and designers, quantity surveyors, engineers, project managers, and solicitors.
