Real Estate Investor Magazine South Africa August 2013 | Page 46

DEVELOPING

BY TONY COLLINS

Behind The Development Process
Your journey begins here

T

he development process is seen as a self
initiated proactive process of procuring
work with the tendering / bidding for work
seen as a possible alternative. We will therefore
cover the steps in the development process and
discuss risk at various stages in the development
process. In addition, because of the magnitude of
this subject, the practical aspects on how to speed
up the decision-making process for developing a
property will be emphasised. A rational approach
to feasibility analysis is recommended with a total
approach view of the feasibility process using
analysis by computer spreadsheets.

The necessity for investment analysis
According to Greer and Farrel (1988, p. 4), p