Real estate development
Overview
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
, encompassing activities that range from the renovation
Renovation
Renovation is the process of improving a structure. Two prominent types of renovations are commercial and residential.-Process:The process of a renovation, however complex, can usually be broken down into several processes...
and re-lease
Lease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset. A rental agreement is a lease in which the asset is tangible property...
of existing building
Building
In architecture, construction, engineering, real estate development and technology the word building may refer to one of the following:...
s to the purchase of raw land
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and the sale of improved land or parcels to others. Developers are the coordinators of the activities, converting ideas on paper into real property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
.
Real estate development is different from construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
, although many developers also construct.
Unanswered Questions
