Real Estate Development: Principles and Procedures: Principles and Procedures

Author: Michael E. Miles
Publisher:
Publish Date: 2003-09-01
Features: Written by a seasoned real estate expert from the United States, this book has been selected as a teaching material for MBA programs by many business schools in the U.S. It is also an essential professional guide for real estate developers. The book comprehensively and systematically introduces the history of the U.S. real estate industry and real estate development, fully recreating the socio-economic environment in which the industry operates. Using two specific cases—the Europa Center and Museum Building—it follows the eight-stage model of real estate development, thoroughly elaborating on the main processes involved in real estate development, including financing, market research, planning and government approval, project implementation, project operation, and asset management. It systematically introduces the roles of developers, government agencies, financial institutions, professionals, and the public in real estate development. This book is suitable for real estate developers, decision-makers formulating real estate policies, real estate development researchers, consulting firms, and as teaching materials or reference books for real estate-related majors in universities. It is also suitable as a training manual for industry institutions and companies. The book is divided into eight parts. It introduces the financial tools needed for decision-making in the development process; discusses the perspective of the public sector on development; and explains the multifaceted issues involved from contract negotiation to the start of construction and finally to the formal completion and occupancy of the project.