BLDG3021 Property Development

Verified

Added on  2020/05/01

|8
|1515
|53
AI Summary

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
report

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Contents
Introduction......................................................................................................................................1
Literature Review............................................................................................................................1
Data Gathered and Analysis............................................................................................................2
Discussion and Arguments..............................................................................................................3
Conclusion.......................................................................................................................................4
References........................................................................................................................................6
Document Page
Introduction
The real estate development or the property development is one of the business activities which
is set from the renovation and the release of the buildings to properly purchase the raw land and
sell the same for the development. Here, the conversion of the ideas is from the real property
with construction to manage the processes. The developers tend to buy the land, financial real
estate deals with building projects, controlling and holding the development from beginning to
end. Here, the developers also tend to purchase a proper track of land to determine the marketing
of property and development of building program (Wilkinson et al., 2016). The designing is
through necessary public approval and financing that works on building the structures, rent out
and managing the sales of the same as well.
Literature Review
For the property developer, it is important to focus that location is most important for the
development of websites. They have been planned to design and meet the needs of the people,
where there are risks of the project related to:
a. The change in the economic environment with the new government or there is a major
rise in the rate of interest.
b. The increased cost of the material and the labour leads to the issues like the carbon tax
which was implemented. This also leads to the higher construction costs at a time.
c. The change is in the council requirements where there are new Local Environment Plans
which are being gazetted with the state and the federal law changes and the law is being
rezoned for this (Isaac et al., 2016).
Document Page
d. There are risks of the changing council requirements, reliability and the financial security
of the contractors and the builders. There is a need to check over the worsening with the
liquidation that has been half through the development project.
e. The weather and environmental issues tend to hold up the progress of construction with
change in the property cycle.
f. The disputes with the builders and the other trading people leads to the extension for the
construction as well.
Here, the major experience is about the minimisation of the risks with diligence on the location,
property and the council requirements (Harun et al., 2016). There is a need to make use of the
financial situations to that a strong relationship and trading terms are set with it. Some of the
other risks are:
a. The land value risks
b. The land exploitation risks
c. Planning permit risks
d. Construction and revenue risks
e. The duration risks which impact the internal cost
f. The political risk and partner risks where there is no possibility to meet the obligations.
Data Gathered and Analysis
There is a need to focus on the mitigation at the project level which includes:
a. The research which is important for the different risks that include the forecasting of the
development of yield, allocating the strategy and the investor demands.

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
b. The occupiers and the consumer demands need to focus on the financial positioning with
the research that needs to be satisfactory as well.
c. The phasing and the contracts could be helpful for the mitigation of the construction risks
which could easily be controlled through the pricing mechanisms. The fixed price
contracts are also larger with the extent to achieve the best price and to allow the
demands of the tenants as well (Tucker et al., 2017).
d. The cost calculation with the development of the appraisal, pre-lease sales helps in easy
working over the land purchase conditions with the marketing tests as well.
e. The timely payments are possible with the revenues that have been set to decide about the
lower interest costs.
The development planning and the delivery process need to focus on the phasing where the
construction depends on the flexibility, with achieving the best price possible and to allow the
tenant demands with the change in the designs. The projects need to be insurance with the inline
insurance policies with quality of the partner agreements as well. The timely payments will help
in the timely delivery of the entire work where the construction of the product would
demonstrate the market to reduce the risks with working over the possible disputes and balancing
the level of spending in the development phase.
Discussion and Arguments
Building Information Model works over the representation of process development and
computer-generated model which is for the simulation of the planning, designing, construction
and the operations of the facility. It also works over making decisions and improving the process
for delivering the facility. The BIM is to carry out information for the physical and the functional
Document Page
standards which are set with the smart objects (Wei et al., 2017). The example for this is the air
conditioning unit with BIM would take hold of the data about the different suppliers, operations
and the issues or procedures of maintenance, flow rates and the clearance requirements. The
building information tends to characterise about the geometry and the spatial relationship where
the properties of building elements and the cost estimates are for the material inventories and
project schedule. The BIM applications are for the visualisation process where the 3D renderings
are generated with the little additional effort, where the fabrications and the shop drawings are
for the easy generation of the different buildings and the systems. The proper reviewing of the
codes and the forensic analysis can adapt to the graphical illustrations with potential failures,
leaks or the plans for evaluation. A proper faster and the effective process is important for better
designing which builds proposals and performance benchmark with enabling the improved and
innovative solutions. The controlled life costs and environmental standards are found to be
predictable with the lifecycle costs that needs to be understood as well. Here, a proper
technology helps in focusing over the 3D space with the systems working for the interferences.
BIM works over the forms where the designing and contribution is towards the construction
industry. The technology growth and the processes are based on evaluating the direct integration
with the energy analysis. The structural standards are also important for the designing and the
construction of buildings, where BIM is effective for the intelligent modelling and processing.
Conclusion
There is a major focus on the construction in a proper manner, where the property developer
tends to focus on the total investment with the strategic land positions which will only be
purchased with the maximised tenure (Shin et al, 2016). Here, the restrictions are to the pre-
specific policies where there is a differentiation of mature and growth countries. The markets in
Document Page
the country different with the segments and the project sizes. Hence, for this it is important that
the real estate development focus over the outlook based on the existing pipeline. With the real
estate development, it is important to focus on the land assembly, development and the financial
building standards, where there is a commercialised development and the industrial property
development as well. The dynamic processes are significant for the average duration.

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
References
Harun, A.N., Samad, S.A., Mohd Nawi, M.N. and Haron, N.A., 2016. Existing Practices of Building
Information Modeling (BIM) Implementation in the Public Sector. International Journal of Supply Chain
Management, 5(4), pp.166-177.
Isaac, D., O'Leary, J. and Daley, M., 2016. Property Development. Palgrave Macmillan.
Shin, J., Choi, J., Kim, I. and Yoon, D., 2016. A Study on Development of Integrated Management System
for BIM Property Information. Korean Journal of Computational Design and Engineering, 21(2), pp.130-
142.
Tucker, M.P., Tucker, M.P., Masuri, M.R.A., Masuri, M.R.A., Cotgrave, A. and Cotgrave, A., 2017. Critical
strategic issues for the integration of facilities management into the development process. Property
Management, 35(4), pp.380-393.
Wei, H., Zheng, S., Zhao, L. and Huang, R., 2017. BIM-based method calculation of auxiliary materials
required in housing construction. Automation in Construction, 78, pp.62-82.
Wilkinson, S.J., Wilkinson, S.J., Jupp, J.R. and Jupp, J.R., 2016. Exploring the value of BIM for corporate
real estate. Journal of Corporate Real Estate, 18(4), pp.254-269.
1 out of 8
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]