REAL 580: Analysis and Development of Residential Real Estate Project

This project analyzes a real estate development plan proposed by TIME Developing Ltd. The assignment begins by defining and evaluating value streams, including reputation, culture, and skills, and recommends actions to achieve them. It then explores design elements to increase apartment purchase value, such as smart kitchens, balconies with sea views, and smart bathrooms. The project assesses the technical, economic, and schedule feasibility of the project, offering strategies to mitigate economic risks. Finally, it examines key design parameters like desire, taste, and value, providing practical considerations for their implementation, including safety, comfort, and aesthetics. The assignment draws on various sources and provides recommendations for successful project execution.

REAL ESTATE
DEVELOPMENT

Table of Contents
MAIN BODY..................................................................................................................................3
Question 1:..................................................................................................................................3
Question 2...................................................................................................................................4
Question 3...................................................................................................................................5
Question 4:..................................................................................................................................6
REFERENCES................................................................................................................................1
MAIN BODY

Question 1:
Value stream can be referred to as a set of actions which takes place within a company to
add certain value to the products offered by the company or to brand image of the company that
helps the company in attracting a wide range of customers. In the present scenario, the TIME
Developing Ltd wants to achieve certain value streams for the benefit of the company. These
value streams include Reputation and trust, culture and values and skills and competencies
within the company in order to attract the customers towards the products offered by the
company (Carroll, and et.al 2022). In order to achieve these value stream, the TIME Developing
Ltd. will carry out the following actions:
Reputation and trust: In order to achieve a valuable brand image and reputation in the eyes of
the customers, the TIME developing Ltd. will provide the customer with various types of
amenities while constructing the building. The facilities will include gym, pool, day care
services, beauty salon, cafeteria, restaurants and many more of such facilities. This will help the
company in enhancing its brand image as it will cater to the needs to the customers. Moreover,
for the purpose developing trust among the customers, the company will make sure that all of its
services are being provided by professionals and are exclusively premium in nature. These
facilities will help the TIME Developing Ltd in building their reputation and trust among the
customers.
Culture and Values: For the purpose of achieving culture and values as a value stream, the
TIME Developing Ltd should try to maintain a positive environment within the organization,
ensure team effort while carrying out the project, and recognise the efforts of the employees
within the company. Recognition to the efforts of the workers and rewarding them will help the
company in boosting their efficiency and satisfaction, which in turn, will help the company in
enhancing the quality of the project. When the organization will promote the value of values of
the company and respects the culture of people belonging different culture, caste or nationality, it
helps the organization in easily collaborating their individual efforts and will help the enterprise
in development of innovation and creativity within the stated project.
Skills and Competencies: The TIME Developing Ltd. will hire the employees which are skilled
and competent enough to carry out the project in an effective manner. However, in order to
improve their productivity and enhancing the outcomes, the company will provide the workforce
with timely trainings (Berseneva, and et.al 2018). It will help the company in achieving the value

of skills and competencies. The development of skills and competencies within the individuals
will also help the company in resolving the issues of globalization as trainings will the
employees in opening their mind and learning new things which can be useful in diversification
and globalization of business across various nations.
Lastly, in order to gain growth and attract a wide range of customers towards the project
of the company, the company will ensure that it is using premium quality material for the
purpose of making the building, provide the customers with exclusive amenities such as gyms
with professional trainers, restaurants with reputed chefs and many more of such premium
services and make sure that they cater to the needs of the customers.
Question 2
For the purpose of increasing the purchase value of each apartment, the TIME
Developing Ltd. will add certain styles and specific designs within each apartment, they are as
follows:
Smart and Modular kitchen
The smart kitchens are those kitchens which includes a combination of electronics,
beautiful designs and eco-friendly products which helps the cook in saving their time as well as
energy (Al-Kodmany, 2018). The TIME Developing Ltd will make sure that all of the
apartments have a smart kitchen which makes the process of cooking, less consumption of
energy with providing the customers with eco-friendly elements which helps the customers in
saving the energy.
Exclusive balconies with sea front view
The TIME Developing Ltd. will try to provide the each and every apartment with at least
one balcony facing the sea front. The soothing view from the balcony within each apartment will
add to the strengths of the whole building and will help the company in attracting a wide range of
customers towards the same.
Exclusive amenities
The TIME Developing Ltd will provide the customer within different types of facilities
which includes gym with professional trainers, restaurants with respected chefs, day care
services for kids, pool, gaming zones and various other facilities within the compound of the
building. This will help the company in increasing customer engagement and sale of the

apartments as the ones will buy the apartments will not have to go anywhere else in order to
receive these services.
Smart bathrooms
The TIME Developing Ltd, will provide their customers with smart bathroom within
each apartment (Dmitriev, and Novikov, 2019). The smart bathrooms include smart showers in
which the personal can set temperature of water according to their needs, Japanese toilets for
ensuring personal intimate hygiene and underfloor heating in order to dry the bathroom as soon
as possible in order to avoid the risk of slipping within the bathrooms.
Smart LED lighting
The TIME Developing Ltd will implement the use LED smart lightings within each
apartment. This will help them in reducing energy consumption and help them in attracting new
customers.
The target audience of the company for this specific project will include people
belonging to high income groups within the country as the company aims to provide premium
quality features at posh location within the country.
Question 3
There are mainly five types of feasibility however, in the present scenario, only three
types can be assessed. They are:
Technical: The project has already been approved by the municipality and therefore, it has been
determined that there is less risk of occurring of any kind of technical failure while carrying out
the project. Also, since the project is big one, the company has made sure that they do have all
the required technologies in order to implement their plan.
Economic: It has been determined, the company is planning to provide the customers with a
number of premium quality features which will require the company to collect a huge amount of
capital for the purpose of initiating the project. Since, the risk of Covid 19 has lowered across the
globe, the prices of the materials and labours has been increasing rapidly, therefore, the company
might face the risk of economic issues which they need to take care of.
Schedule: The company should be able to implement the plan and carry out the project within a
time span of 2 years. for the same, it is essential for them to make sure they do not get short of
funds.

Recommendations
Since, it has been determined that due to the increasing prices of raw materials, the TIME
Developing Ltd, can face a high risk of economic feasibility, in order to eliminate the same, the
company should these strategies:
 Compare and contrast the prices of the raw material before making a purchase.
 Strictly adhere to the budget set by the Finance Team (Roe, and et.al 2021.).
 Find the best resources in the available budget.
 In order to improve the cash flow, provide the creditors with discounts on early
payments.
 Try to raise funds at minimum interest rates, for instance, taking loans from commercial
banks.
Question 4:
The five major design parameters are:
Desire: The company aims to provide its customers with exclusively premium facilities which
helps the owners, tenants as well as customers in increasing their satisfaction level.
Taste: The building will look appealing to the audience as it will be surrounded by lush green
trees.
Value: The value will add sustainability to the project and attract the investors towards the
property.
Comfort and quality: The team of TIME Developing Ltd. will try to provide the customers with
the comfort they desire and premium quality services.
Things to keep in mind while practically implementing them:
Safety: The TIME Developing Ltd. will provide the customers with several establishments
which includes lifts, parking lot, security guards, beauty salon, day cares in order to enhance the
safety and wellness of the customers who plans to live within the apartment.
Comfort: There will be a housekeeping department in order to take care of all the
establishments. The company also aims to provide the customers with lounges, rest rooms,
corridors, garden for the purpose of enhancing their comfort.
Privacy: The building will include private space in the public areas in order to provide the
people with an area they could talk or chat or sit with fiends peacefully away from the hustle

bustle of city. It will also include a cafeteria space and in these areas, staff will be there in order
to safeguard the people living within the building.
Aesthetics: The property will look exclusively luxurious and will be able to attract the customers
towards the same (Hopwood, 2019). The aesthetics will include pastel shades, elevation using
wood, steel and other metals which will look appealing to the audience and thus, help the TIME
Developing Ltd. in ensuring the overall life cycle of the project and help the company in
increasing their cash flow and thus saving the cost of operational expenses.

REFERENCES
Books and journals
Hopwood, P., 2019. Feasibility studies. In The Application of Contracts in Developing Offshore
Oil and Gas Projects (pp. 35-52). Informa Law from Routledge.
Roe, S., and et.al 2021. Land‐based measures to mitigate climate change: Potential and
feasibility by country. Global Change Biology. 27(23) pp.6025-6058.
Dmitriev, O.N. and Novikov, S.V., 2019. Verification of feasibility studies at high-technology
enterprises. Russian Engineering Research. 39(9).pp.780-781.
Al-Kodmany, K., 2018. Sustainability and the 21st century vertical city: A review of design
approaches of tall buildings. Buildings. 8(8). p.102.
Carroll, M.K., and et.al 2022. Aesthetic Aerogel Window Design for Sustainable
Buildings. Sustainability. 14(5). p.2887.
Berseneva, M., and et.al 2018, December. Energy-saving technologies in design and construction
of residential buildings and industrial facilities in the far North. In Energy Management
of Municipal Transportation Facilities and Transport (pp. 59-68). Springer, Cham.
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