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Real estate development – James Cubitt Developments https://www.jamescubittdevelopments.com Top real estate property development company in Lagos Nigeria Fri, 10 Mar 2023 15:35:13 +0000 en hourly 1 https://wordpress.org/?v=7.0 What major is best for real estate development? https://www.jamescubittdevelopments.com/what-major-is-best-for-real-estate-development/ https://www.jamescubittdevelopments.com/what-major-is-best-for-real-estate-development/#respond Fri, 12 Aug 2022 09:15:15 +0000 https://www.jamescubittdevelopments.com/?p=5668 If you are an aspiring real estate developer or are interested in starting your own real estate development company in Nigeria, then you need to know what major is best for real estate development career paths.

There are different majors when it comes to real estate development that can provide you with the relevant knowledge you need to become a real estate developer. You need certain transferrable skills and a solid foundation if you must become outstanding in the field and be successful.

Whether you choose to start with the basics by obtaining a bachelor’s degree or you wish to broaden your knowledge with a master’s degree, it is certain that a degree related to real estate development is extremely beneficial.

Choosing the Right Major

Choosing the best major for you is heavily influenced by your career goals and aspirations. Your choice can be based on these aspirations, or it can also be based on the areas of improvement you know you need to build a successful real estate development business.

If you already own a real estate development company, you would know that the steps to real estate development success revolve around these three: experience and expertise, proper management, and finance. These three are the “tripod” of successful real estate businesses.

 

Thus, you need to first identify which among these three areas you need improvement in and choose a master’s degree that will help you upgrade. But if you are just starting out as a real estate developer, it is usually much better to begin by acquiring foundational knowledge about the real estate development process.

 Starting with the basics, you can learn first-hand about the modern rules of real estate investing and also the theories of developing a property. With this information, you will be well-equipped to start your career confidently as a real estate developer.

So, do you want to build a prosperous and stable real estate development company or upgrade your limited professional experience as a real estate developer? Let’s inspect which major is best for real estate development career paths.

 

What Major is Best for Real Estate Development Career Path?

Rarely would you find institutions offering degrees in the course of real estate development. That is why there are other related courses which you can study that would provide relevant knowledge evident in the field of real estate development.

These related majors are:

  1. Business Administration and Management

A degree in Business Administration and Management offers you the opportunity to learn about two critical aspects of the setting up of a real estate development business. On one hand, you will learn about administration, and you will learn about effective management.

The administrative knowledge you will gain would include practical applications of business, such as finance, marketing, economics, and operations, while the management knowledge would comprise several business theories like business communication, basics of accounting, and management theory. With such knowledge, you would be able to efficiently manage the business side of things while developing buildings.

 

2. Finance and Financial Management

Adequate financing is the backbone of any company, real estate development company or not. Hence, the reason why having a degree in finance and financial management is advantageous.

A degree in Finance & Financial Management will equip you with the knowledge to make logical financial decisions in the real estate development business. You will learn how to devise feasible investment strategies for yourself and prospective investors.

3. Marketing

Do you want your real estate brand to be a trusted and sought-out name in the real estate market? A marketing degree might just be what you need. Marketing is essential for any person or business.

It doesn’t matter what niche of real estate development you want to focus on, you need marketing to be able to understand what makes your target customer tick and how to anticipate their needs. This way, you will be able to develop buildings that satisfy their expected living experience.

4. Hospitality Management

A hospitality management degree provides you with the skills and knowledge to respond to the needs of clients. With this degree, you can gain in-depth knowledge about client-appropriate operations to strengthen and build client and investor relationship management in your real estate development.

This degree can also introduce you to the ideas of comfort, which can be incorporated into your building designs to create remarkable developments that meet people’s needs.

5. International Business

A degree in International Business is essential for you if you have your sights set on expanding your reach as a real estate development company abroad. You will learn the basics of international trade, international marketing tactics, and general rules applicable to facilitating business across-shore.

Equipped with this information, you will be able to make your big move to set up a prosperous annex abroad and also successfully gain international target audiences.

6. Business and Managerial Economics

A degree in Business and Management Economics can also help you take care of the business aspect of your property development company. It is a dynamic degree that will teach you about traditional economics and practical business applications.

7. Entrepreneurial studies

An entrepreneurship degree is a degree that can prepare you for any type of business, especially if you are starting small. It is a useful degree that provides the foundation for starting a business.

8. Construction Management

A degree in construction management can prepare you for the development aspect of your property development business. You will learn the necessary skills in building design and planning, business operations, and material handling.

This useful knowledge about the construction process can help you develop a range of standard developments for different uses.

9. Project Management

Knowledge of project planning elements and principles, project management process and ethics, accounting, and information systems can be useful during the real estate development process. This is why a project management degree is also advantageous.

Wrapping Up

However, whether you enrol in a physical university or online, you should know that earning a degree in any of these above-listed courses is not a waste of time.

It is possible that as your property development business grows, you might need extra hands to take care of several aspects of your business. At that time, it would prove beneficial that you already have an idea of what your expectations are, so there would be no delay in building your successful real estate development business.

 

James Cubitt Developments (JCD) is a leading real estate development company that you can trust to help you improve your pieces of real estate to increase their value and meet your space needs.

Whether you are looking to build new structures or modify your existing ones, we bring our experience and expertise to work to help you create a satisfactory project. Let’s help you convert your building ideas to real property. We develop buildings that are more than a structure but an expression of personalities.

For more information:

Phone number: +234 1 715 9995, +234 1 715 9996

Email: info@jamescubittdevelopments.com

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Top 10 Real Estate Developers in Nigeria https://www.jamescubittdevelopments.com/real-estate-developers-in-nigeria/ https://www.jamescubittdevelopments.com/real-estate-developers-in-nigeria/#respond Fri, 22 Jul 2022 08:40:56 +0000 https://www.jamescubittdevelopments.com/?p=5663 Are you looking to develop a premium and cutting-edge home to live in or a facility to sell or rent? You need real estate developers in Nigeria who know their stuff and have a proven track record of excellent project delivery.

It is very crucial that the real estate developers you engage have a good understanding of the Nigerian real estate market and possess certain good qualities that can prove extremely advantageous. Because if not, your expectations for your real estate development may not be met.

So, here is a list of top real estate developers in Nigeria based on public reviews that can make your real estate dream, desire, and expectations a reality.

  1. James Cubitt Developments

James Cubitt Developments (JCD) is a real estate development company that specializes in providing a full range of property development services to the premium-plus real estate market in Nigeria. It is the development vehicle of the James Cubitt company—a company with over 70 years of remarkable service in the real estate industry.

As one of the leading real estate developers in Nigeria, James Cubitt Developments focuses on providing exceptional solutions to large-scale and often complex real estate transactions, irrespective of the type of real estate development. They help to ensure that consistent and long-term value is derived for all stakeholders throughout the real estate development process—from idea generation to conceptualization through to occupancy and maintenance.

Their valued services have proven to guarantee a lasting positive impact on turnkey development projects over the years.

  1. Sujimoto Construction

Sujimoto Construction is a luxury real estate and construction company that has earned its place on the list. Their real estate construction and services are designed to cater to those who have a refined taste for the finer things in life and value opulence in its truest and rarest form.

  1. Mixta Africa

Mixta Africa is a real estate development arm affiliated with the ARM company. It is focused on sustainable communities in Nigeria and Africa at large. They have laudable projects under their name and have successfully developed a substantial number of projects across eight countries on the continent.

  1. Jide Taiwo & Co.

Jide Taiwo & Co is another top real estate developer in Nigeria that is recognized for their professionalism in the building industry. They have a team of project development and management primed to serve and ease clients’ challenges of construction and project management, especially in a unique environment like Nigeria. They apply in-depth expertise to help clients develop residential, commercial, mixed-use, agricultural, and industrial projects.

  1. Brookstone Property

Brookstone Property is a full-service real estate investment company. They specialize in the entire real estate project lifecycle, beginning with site acquisition, conceptualization, leasing and sales, financing, construction management, delivery, and facilities management. With over 29 years of project development and management experience, they are recognized as a top real estate developer that delivers great development services.

  1. Cadwell Limited

Cadwell Limited is one of the African real estate specialists in Nigeria that holds a strong reputation for providing outstanding developments. They specialize in creating intricate designs that cater to the desire for a luxury lifestyle.

  1. Primrose Development Company

The impact of Primrose Development Company in the Nigerian real estate sector has spanned over 30 years. It is a property development company known for producing high-quality real estate projects.

  1. Seagle Property Development Company

Seagle Property Development Company is a leading property developer in Nigeria that helps its customers realize their real estate dreams through the construction of the most affordable and highest quality residential and commercial developments. Providing sustainable housing is also one of their focus areas when developing a real estate project.

  1. Revolution Plus Property Development Company

Revolution Plus Property Development Company is another real estate developer with experience and expertise in developing luxury and prime properties for sale and for rent. Their total commitment to affordable housing through a multi-channelled service has placed them among the top real estate developers in Nigeria.

  1. Bosmak properties

Bosmak properties is also one of the real estate developers in Nigeria that delivers homes of high quality. They follow a well-structured process and comprehensive project management methods in developing a property. They are a luxury real estate company that was established to provide luxury housing and world-class facility management services.

Additional Real Estate Developers in Nigeria

 

  1. LAC property development and construction

LAC Construction and Property Development is a real estate development firm founded on the need to provide affordable homes in the country while addressing the country’s housing shortage. Because of this vision, they do not only provide development services, but they also provide soft mortgage schemes on their houses and lands to afford every buyer the opportunity to own properties.

  1. Magamound Investment

Magamound Investment is a development and real estate investment firm that provides real estate investment opportunities with their projects. As real estate developers, they are committed to developing buildings that reduce their environmental impact through good design and best construction practices. They provide clients with high-efficient and energy-saving developments that run at a lower operation cost.

  1. Sandworth Properties

Sandworth Properties is a real estate development company in Nigeria with core competencies in real estate development, project management, facility management, property management, and real estate leasing activities. They have a team of building experts that can help clients develop any building design they can think of.

  1. Cruxstone Development &Investment Limited

With its knowledge of the Nigerian real estate market and neighbourhoods, Cruxstone Development Investment Limited helps its clients develop and acquire cost-effective and high-yield luxury properties and real estate investment opportunities in areas that have substantial upside appreciation potential. They are among the innovative, commercial and residential luxury real estate developers in Nigeria.

  1. Dradrock Real Estate Limited.

Dradrock Real Estate Limited is one of the real estate developers in Nigeria that is dedicated to providing innovation-driven, safe and sustainable estate developments.

 

  1. Nedcomoaks Limited

As a top real estate developer in Nigeria, Nedcomoaks Limited constantly pushes boundaries while building modern and exquisitely comfortable homes. They are focused on providing affordable homes, creating befitting spaces that the majority of Nigerians can own and call home.

  1. Propertymart Real Estate Investment Limited.

Propertymart Real Estate Investment is one of the real estate developers in Nigeria that offers its clients buildings in well-planned estates with designs that are global in nature for families. They create valuable properties that satisfy the customer’s needs for better living.

Wrapping Up

Now that you have a list of real estate developers in Nigeria to choose from, there’s bound to be a struggle on which you should settle for.

So, let’s make it easy. Look for those that offer real estate advisory services along with their development services.

Why? Because it is critical to have a partner with comprehensive knowledge to guide you through the development process and assist you in making informed decisions.

Ready to get started?

Allow James Cubitt Developments (JCD) to be your guide through your real estate development journey.

For more information, contact us.

+234 715 9995 and +234 715 9996 are the phone numbers.

Email: info@jamescubittdevelopments.com

 

 

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7 Effective Marketing Strategies in Real Estate Development https://www.jamescubittdevelopments.com/marketing-strategies-in-real-estate-development/ https://www.jamescubittdevelopments.com/marketing-strategies-in-real-estate-development/#respond Fri, 08 Jul 2022 11:17:32 +0000 https://www.jamescubittdevelopments.com/?p=5645 Are you a real estate developer looking to spread the word about your brand and real estate projects?

Here is a list of effective marketing strategies in real estate development that you should adopt to prompt the needed expressions of interest for your developments. These marketing tactics will help you keep your property brand top-of-mind for your target audience.

Marketing Strategies in Real Estate Development

  1. Create a Responsive Website

In our digital world, a website is a principal marketing tool that real estate developers should have. This is because, today, people find it easier to search for things they need online. Hence, it is most definitely necessary for your property brand or real estate projects to be found there.

However, it is not just enough to have a website; your website must be a responsive one that provides a user-friendly experience. A website is responsive when it is not only functional but meets the aesthetic, usability, and value expectations of your target audience.

Aside from being the first point of contact between you and your customers, as well as a platform for them to learn more about your services, a website can also serve as the marketing engine that converts the various forms of marketing promotion into potential sales. Hiring a digital marketing service provider is the best approach to ensure you have a responsive website that delivers on all fronts concerning your marketing expectations.

  1. Search Engine Optimization

Once you have a responsive website set up, the next marketing strategy to employ is search engine optimization. As a real estate developer looking to make some high target sales, you don’t want to have a functional and responsive website, and yet your target audience won’t know about your property brand. This is why SEO is important.

According to research, SEO can increase traffic to your website 20 times more than any other marketing campaign you can think of. SEO can help you be found in search engine results so that potential leads engage with you.

So, if you want to be found when people type in the search query for the kind of property you have, you have to ensure that your website is search engine optimized. What this means is that the content on your website and your web copy should be written with trending phrases and keywords in the real estate development industry to help you rank high in Google search results.

This is so that, when a customer searches for real estate developers in their desired location, your website is displayed among the top results on the search engine result page. This is another service a digital marketing service provider can help you with if they have expertise in SEO; otherwise, you can enlist the help of a professional SEO optimization service provider for this.

 

  1. Email Marketing

Email marketing is another effective marketing strategy in real estate development. It is a marketing strategy that can keep you at the forefront of the minds of your target audience when they are next looking to invest in real estate or buy a property.

With email marketing, you will be able to generate more traffic to your website and convert leads to paying customers.

Email marketing is a cost-effective digital marketing channel that can be effective in promoting your real estate development company or property brand at times. All you need to do is to craft tailored messages and content for prospects and existing customers and add a compelling call to action to each email so that the recipients know what you intend for them to do after reading.

  1. Video Marketing

Video marketing is a great way to promote your real estate projects, whether they are live buildings or off-plan development. Using videos to market your properties, you can showcase different stages of your real estate development process to provoke expressions of interest if it is still under ongoing construction. You can also use video to showcase details about your properties that make them stand out from others in the market.

According to research, a real estate developer can increase revenue by 49% using video marketing. Having these videos on your website can also increase your visibility on the Google search engine result page. The higher you rank in search engines, the more visitors your website will receive. This means more lead generation and a better chance of converting them into investors.

  1. Content Marketing

Content marketing is a core part of a digital marketing strategy that should not be overlooked. This is because, to gain the trust of potential customers and build the credibility of your property, you need to be able to do more than just sell.

This is because there are pain points that your customers need your expert information as a real estate developer to address. For example, you can create educative content to tell them about the dos and don’ts when buying a property. You can help them know the rules of real estate investing if your target audiences are beginners in real estate investing.

Whichever way, your content should be able to provide value to your target audience. Optimized and creatively crafted content can help you build more traffic to your website.

  1. Social Media Marketing

Social media Marketing is the use of social media platforms to interact with customers to build brands, increase sales, and drive website traffic. Social media platforms are digital channels that are effective for supplementary promotion for real estate developers.

These platforms can help you promote your real estate projects or properties for little or no money. You can target clients based on age, gender, profession, location, interests, income, and so on to get maximum reach to those your properties are for.

With social media platforms, real estate developers are guaranteed concentrated marketing.

These marketing strategies are pulled together to make a unified marketing strategy that can be effective to drive sales.

Reasons Why You Need Digital Marketing Strategy in Real Estate Development

There are several reasons why real estate developers need marketing strategies.

  1. Develop Your Client Portfolio

The first reason is to develop a portfolio of satisfied clients. Prospective clients are always more interested in whether you have a track record to show your expertise before they are convinced to do business with you. The higher the number of satisfied clients your property brand has, the more clients you are bound to attract.

The calibre of clients on your customer list can also help establish your brand to be credible projecting an impeccable image in the market.

  1. Social Proof

When people are looking for properties to buy or real estate investments, they look for reviews and recommendations to get evidence to make the right decision.

Your marketing strategies can help you build social proof to encourage patronage. When existing customers leave positive reviews on your website or social media channels, it can help entice potential clients without much effort on your part.

  1. Reach Your Desired Audience

Digital marketing strategies can help you achieve a concentrated promotion of your properties. With little budget, you will maximize your marketing effort to reach your target audience.

  1. Look for new customers

Digital marketing strategies can be useful to help you get new customers. Whether you are a self-employed real estate developer or a large corporation, organic marketing strategies such as a business website, social media platforms, and paid advertising will help potential clients discover you.

These marketing strategies can also you build and nurture relationships with customers once you’ve contacted them. With new promotions and discounts for your existing and new clients, you will build a loyal client base.

  1. Building trust in your niche

In the competitive real estate market, marketing strategies help create an awareness of your property brand. Once your target audience is aware of what you offer, there will be an increase in website traffic, lead generation, and sales conversion rate.

With more sales and several satisfied clients to your credit, you will be able to build trust in your market niche.

  1. Improve Visibility on Search Engine Result

SEO is essential for the optimization of your company’s website. This digital marketing strategy helps you improve your visibility on the search engine result page so that you can attract more visitors to your website and other digital channels.

Conclusion

James Cubitt Developments (JCD) is a leading real estate development company that provides real estate advisory services to help you ensure real estate development success

For more information

Phone number: +234 1 715 9995, +234 1 715 9996

Email: info@jamescubittdevelopments.com

 

 

 

 

 

 

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8 Steps to Real Estate Development Success https://www.jamescubittdevelopments.com/8-steps-to-real-estate-development-success/ https://www.jamescubittdevelopments.com/8-steps-to-real-estate-development-success/#respond Fri, 24 Jun 2022 09:08:35 +0000 https://www.jamescubittdevelopments.com/?p=5642 Do you want to ensure the profitability and success of your property development projects? These are the steps to real estate development success you should follow.

The Steps to Real Estate Development Success

  1. Define your goals and objectives

The first step before starting any property development is to define your goals and objectives. It is the ideal way to lay the foundation of real estate development success for yourself because developing a property is no small feat.

To define your goal, you need to start by asking this one question:

What do you hope to gain from the project?

The answer to this will help you define a realistic goal for your development project. Once you have a realistic goal to run with, you will have a plan and a perspective to approach your property development project.

  1. Defining the ownership structure

Determining the ownership structure of your property development is the next step in ensuring a successful real estate development. There are several ownership structures to choose from. Will you own the development property alone or do you need contributions from real estate investors in the form of cash or equity?

Each ownership structure has its own set of features, benefits, and drawbacks, so it is critical to understand the pros and cons of each before making a decision. To understand the pros and cons of each option before making a decision, you must consult with an accountant and a lawyer who specialises in property development. Evaluate your circumstances and decide if the properties will be retained or sold upon completion of construction. Only then will you be able to choose the best ownership structure for you.

  1. Consider your financial situation.

Once you have decided on an ownership structure ideal for you, the next step is to decide on the size of the development you are looking to build. Your decision on the size will help you know if it is something you have the financial capability to undertake on your own as a real estate developer or if you need to source for finance like a credit facility. You also need to be able to ascertain how much capital you can afford to invest in the development project.

If you do decide to get a loan, you must know what your borrowing capacity is and the right place to get it. Most lenders assess potential borrowers’ creditworthiness and associated risk using a system known as the “5 Cs of Credit”—Character, Capacity, Capital, Collateral, and Conditions. It is necessary to check these requirements before you proceed to apply. This is also where you need the expertise of a mortgage broker.

  1. Do a Feasibility Analysis

A feasibility study is necessary after settling on the size and type of property to build. A feasibility study will help you discover if your property development project will be viable and profitable. It can also help you locate the best land with significant growth potential or one with the infrastructure to support capital growth, such as proximity to schools, hospitals, employment, transportation, infrastructure, shops, restaurants, community hubs, or areas where significant investment is taking place.

As a part of the feasibility study, it is also useful to conduct comprehensive market research that will help you investigate recent sales prices for similar dwellings you have in mind. This will help you calculate the expected return on investment for the real estate development project and give you an overview of what to expect as the total costs.

  1. Purchase the Land for development.

Once your feasibility analysis is completed, you can purchase a suitable development site with significant growth potential or one with the necessary infrastructure to support capital growth. But first, conduct the necessary due diligence to ensure that there are no obstacles that could derail your project or prevent the development from being approved.

At this point, it is necessary to have a land inspector or a property lawyer inspect the property to alert you to any potential risks before purchasing. You can also have your builder assess the property to advise you of any potential issues that may increase the cost or hinder construction.

  1. Create a design and apply for town planning and permits.

Designing your property development project and applying for town planning and permits should come next after purchasing your land. You can engage a custom builder or architect to help with the design of your development project. However, whichever you choose, they should be able to provide you with a budget-friendly design no matter how creative it may be. This is because over-capitalizing will be unfavourable to the overall real estate development process.

Once you have a design, it’s time to prepare other construction documents to apply for the necessary permits to commence construction.

  1. Begin building

With the necessary permission, you can then begin construction. This is where you put into gear all the written plans and preparations so you can have a standing development. Your design is already drawn and laid out to give you a picture of what your development would look like. But you need a builder to bring it to life. So, this is the time to sign a contract with a reputable builder that will help you with the construction process.

Information in the signed contract would most definitely include how long the construction would last and every other essential piece of information. Usually, the construction process depends on the size of the development.

A note of warning, though—some builders deliberately under-quote projects with ambiguous contract inclusions to win the job. After that, they submit costly variations along the way to boost their margins, thereby making you pay more than what you budgeted for and putting your project at risk. So, it is important to select your builder carefully. Also, know that hiring the “cheapest builder” to save some money may not be the right decision because this can lead to poor quality construction, defects, rework, delays, and project cost overruns. Go for quality workmanship. Alternatively, you can also engage a real estate development company instead.

Another thing you need to pay close attention to is the inclusions and exclusions in the contract of work you will be signing. It is necessary to carefully read through it to avoid unpleasant surprises that will erode the profitability of your project.

  1. Finish the Development Process

After construction is finished, you need to decide what you need to do with the property. Are you selling it or leasing it out? Your decision depends on several factors: your pre-defined goals and objectives, the ownership structure, and the various agreements that are tied to the property development project.

Once you have gotten your expected return from the development project, you can reinvest in your next development project and continue to achieve your financial goals and objectives with the profit or equity generated from the previous property development project.

CONCLUSION

At James Cubitt Developments (JCD), we develop buildings that are more than a structure but an expression of personalities. We are a leading real estate development company that you can trust to help you improve your pieces of real estate to increase their value and meet your space needs.

Whether you are looking to build new structures or modify your existing ones, we bring our experience and expertise to work to help you create a satisfactory project. Let’s help you convert your building ideas to real property. For more information:

Phone number: +234 1 715 9995, +234 1 715 9996

Email: info@jamescubittdevelopments.com

 

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7 Different Types of Real Estate Development https://www.jamescubittdevelopments.com/types-of-real-estate-development/ https://www.jamescubittdevelopments.com/types-of-real-estate-development/#respond Fri, 10 Jun 2022 09:02:50 +0000 https://www.jamescubittdevelopments.com/?p=5640 7 Different Types of Real Estate Development

There are various types of real estate development sites where you can have your development project, each with its advantages and disadvantages. You must find out what type of real estate development site you have before you start building.

These days, it is not just enough to know that there are processes involved in developing a property; you also need to know the different types of development sites so you know if the site you have is suitable for the building project you want to develop.

Types of Real Estate Development

  1. Brownfield
  2. Greenfield
  3. Sub-division
  4. Industrial
  5. Residential
  6. Commercial
  7. Repositioning and redevelopment
  1. Brownfield

Brownfield sites are development sites that have previously been used for industrial or commercial purposes. But generally speaking, they are previously developed land that is or was occupied by a permanent structure.

These development sites are located in urban areas and are typically found in existing towns or cities. To build on a brownfield site, the process involved is redevelopment. Brownfield developments are buildings developed on brownfield sites.

This type of real estate development site is called brownfield because of the fact that the land may be contaminated by the previous activities that have taken place on the site. One way to identify this development site is the lack of vegetation on the property. This is usually a side effect as a result of the prior activities on the property.

Some examples of brownfield sites are abandoned factories, landfills, dry cleaning establishments, and gas stations.

Advantages

  • Low Development Costs

The fact that the infrastructure needed for the new development already exists since most brownfield areas are located in towns or cities is what makes the development costs low.

  • Quick turn around time

Also, because of the necessary infrastructure already in place, planning permission may not be required, which is assuming the purpose of the site does not change with the new development. Developers can begin work immediately.

  • Economically and politically advantageous

Brownfield sites present opportunities to improve the local landscape of a street or community. Since brownfield sites are no longer considered suitable for their previous use, the alternative use for these sites is usually desirable for both residents, the government, and investors/developers.

Disadvantages

  • Operation Challenges

When developing a brownfield site, developers may face traffic congestion and noise. This is because brownfield sites are located in urban areas.

  • Environmental issues

Most brownfield sites are polluted and need a proper clean-up before any development can start on them. It can be very expensive for developers to clean up if they must comply with “today’s” environmental standards and clean-up rules.

  • Development constraints

Developers are usually confronted with various development constraints while building. And this is because brownfield developments are based on previous establishments.

  • Greenfield

Unlike brownfield development sites, which have pre-existing structures on them, greenfield development sites are quite the opposite. Greenfield development sites are undeveloped land or vacant sites in a city or rural area that are either used for agriculture or landscape design.

Other examples of greenfield development sites are unfenced open fields, urban lots, or restricted closed properties that are off-limits to the general public.

Advantages

  • Maximum flexibility

With greenfield development sites, you enjoy flexibility when developing your project because it is vacant land. This type of real estate development lacks the constraints that one encounters with brownfield sites. You can build just about any design you want on it.

  • Continued development

Greenfield developments contribute to the development of a city section.

  • Simple environmental regulations

When compared to brownfield development sites, environmental regulations are simple to follow.

Disadvantages

  • Long turnaround time

Government agencies may take a long time to give approvals and planning permission. As a result, the development process may be delayed.

  • High Development Costs

Since greenfield developments are ground-up developments and you are required to build from scratch, the development cost is usually high.

  • Subdivision

A subdivision is a type of real estate development site that can be divided into smaller pieces or lots to be developed and sold separately. Hence, buildings built on them are called subdivision developments.

To go into building subdivision developments, a developer acquires several tracts of land and legally divides them up into several lots to sell or be developed, depending on the local building permit and zoning laws.

Advantages 

  • Faster profit creation

Sub-division development sites are types of real estate development that can bring developers a fast return. When a developer buys a piece of land at a wholesale price, divides it up and sells maybe two or more portions of the whole at a higher per square metre price, he can make a tidy profit from them.

  • Capital appreciation

As lots are being developed on different portions of the acquired land, the value of the land increases. Of course, this means that only the early buyers have it at relatively cheaper rates. One result of capital appreciation is a higher purchase price.

  • Reduced costs and benefits

Developers don’t necessarily need to bear the burden of building; they can pass it on to buyers.

Developers can sell these lots with the building approvals and necessary certificates, and the buyers can take up the responsibility of erecting the structure once they have acquired the property for themselves.

Disadvantages

Increased Risk

With subdivision developments, there is usually a high risk that the developer’s expected return based on the property acquired may not be achieved.

Potential Surprised costs

If a land structure problem occurs, there most definitely will be an unplanned additional cost. Hence, developers should do their due diligence with their feasibility studies before committing.

  1. 4. Industrial

Industrial development sites are sites used for manufacturing and production. They are sites appropriate for developing buildings for industrial activities such as production, manufacturing, assembling, warehousing, research, storage, and distribution. This means that such a development site belongs to the industrial zone.

Advantages

  • Industrial development sites are typically less costly.
  • Because industrial structures do not require much construction, an open-air factory may suffice. The construction cost is not as high as developing a commercial or residential building.

Disadvantages

  • The building project may progress slowly because industries require a sophisticated and protected environment for their operations. So the necessary peculiarities put into consideration make construction slow.
  • There may be cleanup costs associated with industrial development sites, which may raise the construction cost.
  • Most often, a developer must find a client and build to their specifications.
  1. Residential

The residential development sites are strictly for residential buildings where people live. It is usually private land acquired by a developer to build structures such as houses, apartments, or complexes that would provide living accommodations for one or more people.

Advantages

  • Necessity

Developers enjoy the benefit of necessity with residental developements. A home is a general and basic need for everyone.

  • Residential buildings are easier to sell when compared to other developments.
  • Consistent tenant income ensures a steady cash flow.

Disadvantages

  • Expensive construction costs and stagnating sales if residential buildings are developed at the wrong time or in the wrong place.
  1. Commercial

Commercial development sites are sites for buildings that house businesses or land developed for profit, either through capital gain or rental income.

A developer/investor owns a commercial building and collects rent or leases from each business that operates within it to make a profit.

Advantages 

  • Frequently higher earning potential

The rent per square foot of commercial space is usually higher when compared to the rent for an apartment.

  • Reduced vacancy risk

Commercial real estate is often divided into smaller units for rental or lease purposes, so the vacancy risk is evenly distributed across the multiple units.

  • Less competition

Commercial real estate has less competition because commercial real estate projects often require more capital. As such, fewer developers are venturing into the development of commercial spaces.

  • Consistent tenant income ensures a steady cash flow

Disadvantages

  • Management problem

Developers must find a way to manage multiple leases typical of this type of real estate development. Maintenance and public safety concerns are also some management issues he should look into.

Higher initial investment

Commercial development sites are frequently purchased years before construction begins.

The holding costs for commercial development sites are high.

  1. Redevelopment and rebranding
  • Repositioning and redevelopment projects are types of real estate development that can provide numerous benefits that new developments do not. Every project is unique, but here are some of the advantages of repurposing an existing structure to create something new and better.

Advantages

Using an existing structure can save money on construction costs.

  • Renovation and redevelopment can be finished much faster.
  • The value and elements of heritage and history can be preserved.
  • The possibility of larger floor plans
  • Existing structures’ distinctive features and stories can be preserved.
  • Enhanced community value
  • Renovation can increase the value of surrounding property.
  • Redeveloped properties can help to increase the price per square meter.

Disadvantages

  • To repurpose an existing building, you need approval, which can be time-consuming and onerous.
  • Structural improvements can be costly.

Due to desired floor plans, some areas of the building may be inaccessible.

  • Many elements may need to be added to meet today’s building codes, which are much stricter than they were decades ago.

Heating, cooling, and sewage piping can be very expensive to install, both internally and externally.

  • Access/entry may conflict with the site’s new business model.
  • Push back on complaints from neighbours, which cause delays, and they can complain about pretty much anything.

Developing a property does not happen on autopilot. There are important things one must do to get it right. Things like learning about real estate development and how to become a real estate developer, if you are just starting. Or learning about the real estate development process so you are prepared and aware of what is expected when building a property.

Once you have that out of the way, your understanding of the different types of real estate development comes next. Your knowledge will guide you in determining how to proceed with your building plan.

CONCLUSION

James Cubitt Developments (JCD) is a leading real estate development company that you can trust to help you improve your pieces of real estate to increase their value and meet your space needs.

Whether you are looking to build new structures or modify your existing ones, we bring our experience and expertise to work to help you create a satisfactory project. Let’s help you convert your building ideas to real property.

For more information

Phone number: +234 1 715 9995, +234 1 715 9996

Email: info@jamescubittdevelopments.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Real Estate Development Process: What It Entails https://www.jamescubittdevelopments.com/real-estate-development-2/ https://www.jamescubittdevelopments.com/real-estate-development-2/#respond Fri, 27 May 2022 10:08:56 +0000 https://www.jamescubittdevelopments.com/?p=5646 Real estate development is a capital-intensive and multi-disciplinary endeavour. It requires multiple players such as architects, site planners, engineers, general contractors and a host of other professionals performing different roles to ensure that the building idea drawn on paper is reproduced as real property.

 

Are you curious about the overall processes involved in developing a property? Here is a step-by-step exposition on the lifecycle of a real estate project. A Real Estate project may be any of the following: erecting a new structure or transforming an already existing property.

 

There are three phases in real estate development.

  • The Pre-Development Phase
  • The Construction Phase
  • The Post-Development Phase

 

The Pre-Development Phase

 

This first stage of the real estate development process begins with finding the perfect site, assessing it, and defining how to finance the project. Usually, before any real property is built, there is a site selection process to determine the right place for the proposed development. The site chosen would largely depend on the scale of the project and the developmental potential of the site.

 

Aside from finding the ideal place to build on, research on the legal requirements, risks and advantages of building on the site happens in this stage. This information is necessary because it helps real estate developers avoid violations of stipulated laws and regulations.

 

Creating the site plan, getting the estimated future cost for the project and identifying the anticipated benefits of the proposed structure to be built happen at this stage.

Basically, the pre-development stage is time to do the due diligence through comprehensive research- discovering everything about the undeveloped property and planning every move in preparation for the construction stage.

 

Construction Phase

 

The construction phase is where the building begins to take form. This is why it is essential to have clarity of purpose and plan out all of your moves in the pre-development phase. At this stage, the construction experts spearhead the building project and ensure a smooth operation.

 

The scope of work and the professionals needed to achieve your quality expectations are identified in this stage. Once the construction project begins, it is easier to determine the schedule for completion.

 

The construction experts have the sole duty of ensuring that the grade requirement in site layout and the holistic design are met, and appropriate construction materials are procured.

 

From framing to roofing, HVAC, interior works, onsite and offsite work, the construction experts work to create a functional and cost-effective design with aesthetic appeal.

 

In this stage, all stipulated regulations are strictly adhered to so the building is safe and sturdy as it should be. After the construction process, the built property is ready to be turned over to tenants on lease or sold out to potential buyers.

 

Post-Development Phase

 

The post-development phase is where real estate developers decide on what happens to the finished building. Do they it on lease and manage it, or do they want to sell it?

 

Real estate projects financed by real estate investors are often placed on lease to generate income. The income generated consistently is then used to fulfil the expected investment return.

 

But real estate developers can also decide to sell the finished property to turn in a quick profit. This way, they can move onto the next project sooner.

 

Conclusion

 

To recap, the real estate development process is a complex one. It involves the input of several professionals to complete the process – the process of translating building ideas to live properties.

 

Understanding the real estate development process makes you a better real estate investor. When you learn more about the field of investment you have ventured into, it gives you an upper hand in decision-making.

 

Also, you are more prepared to undertake an upcoming project because you know exactly how it works and what to expect.

 

Looking for the next project to invest in? Contact us

 

Contact details

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7 steps in Developing a Property https://www.jamescubittdevelopments.com/developing-a-property/ https://www.jamescubittdevelopments.com/developing-a-property/#respond Fri, 13 May 2022 10:15:58 +0000 https://www.jamescubittdevelopments.com/?p=5635 For those who don’t know what developing a property entails, the real development process to them is just buying a property (land or building), improving it, and selling it, and that’s all! But, truly, there’s more to this list of actions when it comes to developing a property.

Once you learn more about becoming a real estate developer and understand the pros and cons of property development, you’ll realise that real estate development is a bit more complex than you had thought.

So, do you want to learn what steps successful property developers follow when developing a property? Here are 7 steps they take to help them complete a development project from start to finish.

Steps in Developing a Property

  1. Know the ‘Why’

Experienced property developers know that the picture of what you want your property to look like is not the place to start when considering developing a property. They know that the first step to beginning the development of a property is to determine the answer to the obvious “why.”

Why are you developing the property? Do you want to create rental returns with it and increase your capital growth, or do you just want to make a once-off tidy profit from it?

Whatever your reason, it will provide you with guidance on how to proceed. Your future decisions about the development would also be premised on your reasons.

  1. Select a Development Path

Once you have determined your reason for developing the property, you need to also decide what path you want to take to actualize it. Are you doing a ground-up development or redevelopment?

If you choose a ground-up development, then you’ll need a suitable parcel of land for your development because you’ll be building from scratch. But if your choice is redevelopment, looking for land would not be necessary. You’ll only need to purchase a property that needs remodelling.

  1. Purchase the Development Property

As previously stated, for ground-up development, you need a suitable site where your development would be located. If you already have one, then you can skip this part. But if you don’t, there are some things you should consider before you buy.

What is the budget for the land? Do you have the personal financial capacity to buy, or would you need a loan? If you require a loan facility, are you aware of the nitty-gritty of obtaining one? The answers to these questions and several more pieces of information will help you to know the best way to acquire the land you need for development.

For a redevelopment project, you can scout out nearly dilapidated houses on well-positioned properties and acquire them to improve them.

But bear in mind that, whether you are undertaking a ground-up development or a redevelopment, it’s advisable that you seek professional advice or, at the very least, have someone knowledgeable with you throughout the buying process. It could be a development manager, a real estate consultant, a property lawyer, an architect, a surveyor, a town planner, an engineer, or an estate agent to ensure you are making the right decisions at every turn and getting value for your money.

  1. Perform Due Diligence

Again, this is where you need the expertise of any of the property development professionals mentioned earlier. Why? because conducting pre-purchase due diligence is critical to having a successful property development project. Plus, with the assistance of any of these professionals, there is little chance of buying a bad site or one with complications.

They can help you with the search, or direct you to where to look to find the right site for your development. They can also help you understand the potential risks and profit of your chosen property. A ground-up development or not, it’s important you do your due diligence before purchasing any property.

  1. Design, plan and obtain all necessary permissions

After purchasing your property for development, this is the very next thing you should do before developing a property. Whether you are building from scratch or just remodelling, you need to get the necessary permissions before you begin construction.

If you are looking to redevelop an existing property, you need to obtain a renovation permit before you can remodel the property. But if you are building from scratch, you’ll need a building permit instead.

Here’s what you need to obtain a building permit in Nigeria:

  • A complete architectural drawing of your site that provides the following information (site plan, floor plan, roof plan, sections, elevations for all cardinal directions, schedules, and sanitary details
  • A survey plan that provides the following information (name of the rightful owner; well-detailed location of the land; the area of the land; boundaries of the land; beacons; bearing; the survey plan number; the name, address, signature, and seal of the registered surveyor; and a stamp showing “free from acquisition”)
  • A structural drawing showing detailed calculations of the proposed building
  • A letter of structural stability from a COREN-certified engineer.
  • Tax clearance and title documents

With these documents, you can start your application for a building permit. To get these documents done and ready, you will most definitely need the services of an architect, a land surveyor, and a structural engineer, respectively.

  1. Begin Construction

Once you get the approval to commence construction, you can start building. But first, there must be a series of conversations to establish what your expectations are. It is necessary to do this so that the builders know what is expected of them.

In these conversations, everyone can get clarity about the scope of work and then you can get a quote on what it would take to make that development project a reality. With all of these out of the way, construction can then go on as expected. 

  1. Rent or Sell

Remember how we said you need to know your “why” before developing a property? We were speaking about this.

If you had wanted to develop the property because you wished to create rental returns with it, then your choice now on the issue of whether to sell or rent will be no deal. Since you want rental returns, you should rent out your developed property. But, if you just want to make a once-off tidy profit from it, then your choice should be to sell.

Have you had a change of heart? No worries. You can speak to a real estate marketing agency to advise you on the best way to earn property from your developed property.

Getting Started

Do you feel overwhelmed already after looking through these steps? Perhaps you should consider a joint venture partnership when developing a property or turn over your development project to a reputable real estate development company. This way, you still get to have your property developed.

CONCLUSION

At James Cubitt Developments (JCD), we develop buildings that are more than a structure but an expression of personalities. We are a leading real estate development company that you can trust to help you improve your pieces of real estate to increase their value and meet your space needs.

Whether you are looking to build new structures or modify your existing ones, we bring our experience and expertise to work to help you create a satisfactory project. Let’s help you convert your building ideas to real property. For more information:

Phone number: +234 1 715 9995, +234 1 715 9996

Email: info@jamescubittdevelopments.com

 

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7 Luxury Real Estate Companies in Nigeria https://www.jamescubittdevelopments.com/luxury-real-estate-companies/ https://www.jamescubittdevelopments.com/luxury-real-estate-companies/#respond Fri, 22 Apr 2022 12:48:49 +0000 https://www.jamescubittdevelopments.com/?p=5605 Are you considering buying a luxury residence for yourself?

We have selected a list of luxury real estate companies you can partner with to get the type of home you desire. Whether your preference is a high-rise condominium, a gated mansion, a lavish apartment or a custom home, you will get the advice and recommendations you need to make the right choice.

Here are the top 7 luxury real estate companies with an excellent reputation and remarkable services you can choose from.

 

7 Luxury Real Estate Companies in Nigeria

 

  1.     James Cubitt Developments (JCD)

James Cubitt Developments (JCD) is the real estate development vehicle of the James Cubitt Brand – a real estate brand with over a six-year plus pedigree of outstanding services. JCD is one of the luxury real estate companies that delivers a full range of property development services to the premium-plus real estate market in Nigeria.

They provide exceptional solutions to large-scale and often complex real estate transactions while ensuring that consistent and long-term value is derived for all stakeholders. As one of the reputable luxury real estate development companies in Nigeria, they have strategic partnerships locally and internationally that are instrumental to the value they offer.

However, their competitive advantage is the end-to-end solutions they provide. From the planning phase through to building, occupancy, and maintenance, their valued services guarantee a lasting positive impact on turnkey development projects.

  1.     Sujimoto

Sujimoto is one of the luxury real estate companies in Nigeria that goes the extra mile to satisfy the needs of their customers.

They are a luxury and construction company that is dedicated to redefining the luxury real estate industry with transformative experiences through intricately designed architecture. Their services cater to those who have a refined taste for the finer things in life and value opulence in its truest and rarest form.

  1.     Fine and Country International (W.A)

Fine and Country International (W.A) is an international real estate network reputed locally and worldwide for its solid market research, property investment advisory service, and a professional approach to corporate sales and leasing of premium commercial and luxurious residential properties.

They are one of the luxury real estate companies known for their outstanding services.

  1.     Dirab Realtors

Dirab Realtors is a luxury real estate company that specializes in property brokerage. They manage and sell high-end apartments on Victoria Island, Ikoyi, and the Lekki Peninsula. Dirab Realtors is a luxury real estate company focused on the sales, purchases, and leasing of commercial and residential properties.

 

  1.     Cadwell Limited

Cadwell Limited is one of the luxury real estate companies that we have built a strong reputation consistently over many years for providing some of the best real estates in Nigeria.

They are a leading independent real estate company in Nigeria, focused on property development, marketing and management of real estate products and services.

 

  1.     Lekki Luxury Homes 

“Lekki Luxury Homes makes the list of luxury real companies in Nigeria. It is a real estate company focused on offering marketing, Sales of luxury properties in Lekki. 

Their Mission as a real estate company is to provide an outstanding Level of Service and Expertise in the Real Estate market. They are innovative and ambitious works with confidence and professionalism They provide luxury homes to those in Nigeria and Diaspora.

 

  1.       CW Real Estate

CW Real Estate (CWRE) is a leading real estate marketing & brokerage firm that was founded on a dream to do real estate different and better. As one of the luxury real estate companies, they are recognized for their distinct style of fusing global standards and experience with local expertise, they help people find their dream homes. Their services also extend to assist people and invest.

 

What Do You Want in Your Luxury Home?

 

Identify the conveniences you want featuring in your luxury home and work with it. Using this approach, you’ll be able to find one with distinct qualities you love.

Conclusion

James Cubitt Developments (JCD) is a reliable partner that is committed to assisting clients to create quality luxury developments.

Whether your definition of luxury is privacy with a sweeping city view, an architecturally significant home or a smart home with a high-tech gadget, JCD guarantees a high-quality build.

You can trust us! Let’s help you make your dream home a reality.

For more information, contact us.

Phone number: +234 715 9995, +234 715 9996

Email: info@jamescubittdevelopments.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Top 7 Luxury Real Estate Development Companies in Nigeria https://www.jamescubittdevelopments.com/luxury-real-estate-development-companies/ https://www.jamescubittdevelopments.com/luxury-real-estate-development-companies/#respond Fri, 08 Apr 2022 12:15:26 +0000 https://www.jamescubittdevelopments.com/?p=5599 Do you want to build a luxury residence for yourself or property investment for sale? Luxury real estate development companies have an inexhaustible list of sophisticated designs you can choose from.

There is no doubt that you’ll need the expertise of one of the best luxury real estate companies to create that quality premium development you desire. 

So, here are the top 7 luxury real estate companies with an excellent reputation and remarkable services you can choose from.

Luxury Real Estate Development Companies in Nigeria

  1.     James Cubitt Developments (JCD)

James Cubitt Developments (JCD) is the real estate development vehicle of the James Cubitt Brand – a real estate brand with over a six-year plus pedigree of outstanding services. JCD is one of the luxury real estate companies that delivers a full range of property development services to the premium-plus real estate market in Nigeria.

They provide exceptional solutions to large-scale and often complex real estate transactions while ensuring that consistent and long-term value is derived for all stakeholders. As one of the reputable luxury real estate development companies in Nigeria, they have strategic partnerships locally and internationally that are instrumental to the value they offer.

However, their competitive advantage is the end-to-end solutions they provide. From the planning phase through to building, occupancy, and maintenance, their valued services guarantee a lasting positive impact on turnkey development projects.

  1.     Sujimoto

Sujimoto is one of the luxury real estate development companies in Nigeria that goes the extra mile to satisfy the needs of their customers. 

They are a luxury and construction company that is dedicated to redefining the luxury real estate industry with transformative experiences through intricately designed architecture. Their services cater to those who have a refined taste for the finer things in life and value opulence in its truest and rarest form.

  1.     Grenadines Home

Grenadines Homes is a member of Palton Morgan Holdings and they are all about building aesthetically pleasing and functional homes. They are committed to reinventing the concept of luxury living in Nigeria and beyond, creating unique homes with the utmost attention to detail.

From the initial concept sketch to the key turning, integrity and uncompromising quality are the hallmarks.

luxury real estate development companies

  1.     Primerose Development company

With proven execution capability with over 30 years of real estate development experience in Nigeria, Primrose development company is one of the luxury real estate development companies recognized for its outstanding services.

It is a property development company that offers a unique and unprecedented value proposition covering all the core skills and requirements fundamental to the success of a real estate venture.

  1.     Cadwell Limited

Cadwell Limited is a luxury real estate development company that we have built a strong reputation consistently over many years for providing some of the best real estate in Nigeria.

They are a leading independent real estate company in Nigeria, focused on property development, marketing and management of real estate products and services.

  1.     MIDAK Properties

Midak Properties is a leading Nigeria-based property development company with a reputation for building elegant and high-quality residential luxury apartments and houses. 

Midak Properties is one of the luxury real estate companies given to innovative development. They create inspiring and exquisite developments that ensure lasting value for occupiers, transforming expectations.

  1.     Seagle Property Development Company Limited

Seagle Property Development Company Limited is a real estate development, investment and management firm that provides its clients with both luxury residential and commercial properties and related services in Lagos, Nigeria.

What Do You Want in Your Luxury Home?

This is the question that will serve as a guide in all you do. It would help you determine the type of luxury property you want and which among the top luxury real estate companies would be the ideal partner to collaborate with.

When you have a list of the features you want to have in your luxury home, it becomes easier to build one you’ll love. However, there are two requirements you need to look out for before you partner with any luxury real estate company.

  • Experience and expertise
  • Comprehensive solutions

The first speaks to this: can they do what they say they can do? Do they have a proven track record that attests to their claim?

The next is, do they offer a wide range of services that are related to luxury property development? If not, do they have strategic partnerships they can leverage to make it happen?

 

CONCLUSION

James Cubitt Developments (JCD) is a reliable partner that is committed to assisting clients to create quality luxury developments. 

Whether your definition of luxury is privacy with a sweeping city view, an architecturally significant home or a smart home with a high-tech gadget, JCD guarantees a high-quality build.

For more information, contact us.

Phone number: +234 715 9995, +234 715 9996

Email: info@jamescubittdevelopments.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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How do I become a Real Estate Developer in Nigeria? https://www.jamescubittdevelopments.com/real-estate-developer-in-nigeria/ https://www.jamescubittdevelopments.com/real-estate-developer-in-nigeria/#respond Fri, 25 Mar 2022 09:33:06 +0000 https://www.jamescubittdevelopments.com/?p=5592 It’s no news that the real estate business is a lucrative venture. And the everyday individual in Nigeria seems to think the real estate market is quite accessible that other market industries. This may be true, but only if you intend to become a real estate investor.

But, if you are considering a career as a real estate developer in Nigeria, the accessibility of the real estate market coupled with a robust capital is short of what you need for a successful career. To understand why this is so, knowing the difference between a real estate investor and a real estate developer is necessary.

A real estate investor is preoccupied with acquiring confirmed properties as investment opportunities, while a real estate developer sees to it that unconfirmed properties become confirmed properties for acquisition following the real estate development process. A real estate developer is that professional who makes available confirmed properties for real estate investors to acquire as investment opportunities, this may be in the form of certified land or developed structures.

With this distinction, you can see why becoming a real estate developer requires more than becoming a real estate investor. Are you considering a career as a real estate developer in Nigeria? Here is what you must know.

Who is a Real Estate Developer?

A real estate developer is a property development professional who manages the process of developing and selling real estate. And the process of developing and selling real estate spans from the planning phase to designing, financing, constructing, marketing and project delivery.

Usually, real estate developers are required to work closely with other professionals in the property development industry to ensure that this whole process is completed, from start to finish. At different phases of the real estate development process, they may collaborate with engineers, architects, contractors, city planners, inspectors, leasing agents, surveyors and lawyers to ensure project completion.

However, real estate developers have since discovered that they are not obligated to complete the entire real estate development process, but they can choose certain aspects to focus on.

For example, a real estate developer may focus on acquiring land working with municipalities to get permits and making it available for those who would like to build. Or a real estate developer may decide to concentrate on organizing contractors to construct buildings on properties which would be sold.

Either way, both scenario assumes a fraction of the real estate development process. But, whether a real estate developer undertakes the entire real estate development process or not, the following are the duties of a real estate developer.

Duties of a Real Estate Developer

  • Property research for development
  • Collaboration with other professionals throughout the development process
  • Ensuring budget management for real estate projects.
  • Drafting cost and term negotiations with contractors
  • Securing funds for development
  • Working with architects and engineers to create designs and development plans
  • Obtaining permits for planned construction and development activities

How to Become a Real Estate Developer in Nigeria?

As earlier stated, having access to the real estate market and a robust capital is not the only prerequisite to becoming a real estate developer in Nigeria. Though they are the obvious ones, there are still other requirements you need to start your career as a real estate developer in Nigeria.

  1. Earn a degree

Getting a bachelor’s degree is usually the preliminary step for anyone who is considering a specialized career, real estate development inclusive. It is preparation for launching your new career as a real estate developer.

Although there is currently no specific program for real estate development, you can get a bachelor’s degree in a related field that would give you a background and expose you to the likely roles you may need to play as a real estate developer.

Some programs to consider getting your bachelor’s degree in are: construction, urban planning, law, architecture, management, business administration or even engineering.

  1. Get your real estate license

To operate in Nigeria as a real estate developer, you need a current real estate license. You need a real estate license because real estate development is a specialized field and the structures you will build will affect the general public.

Like every other specialized skill licensure, a real estate license gives you the permission to develop and sell properties in a country.

  1. Gain experience

Gaining experience in the real estate development field is the most important in the list of things you must do to become a real estate developer. This step is not only required to develop sturdy and remarkable structures, but it is also necessary to set you apart in the industry.

One way to gain this experience is to work under another property developer who has a proven track record and has good credibility in the industry. However, it is important to state that when it comes to real estate development, gaining experience is two-dimensional.

One aspect is to ensure you have the satisfactory level of knowledge to do the job and the other aspect is to have a proper understanding of what the market dictates and values depending on the type of real estate development you wish to focus on.

  1. Build a network

The mere fact that real estate developers need other professionals to complete their real estate development process is an indication that networking is important.

As an aspiring real estate developer, you don’t just build your network to satisfy your objective, you build one to give speed and by extension your reputation. Yes, in the competitive real estate market, reputation can be shared.

So, before you begin your career, get in touch with other property developers and other needed professionals and connect with them.

  1. Learn how to manage finances

Budget management for real estate projects is one duty a real estate developer has, and financial management becomes crucial at this point. Without this training and exposure, this aspect becomes a nightmare.

  1. Understand the market

Understanding the market will help you decide and determine whether you want to focus on residential real estate development or commercial real estate development or both.

Research on market trends and competition on both sides of the real estate industry will help you come to that conclusion.

With this information, you will be able to define the parameters within your chosen field, discovering what is allowed and what is not to attract potential customers and keep their loyalty.

  1. Find locations with huge market potential

After understanding the market, researching to find out what locations hold a huge market potential is a smart move before starting.

With this information at your fingertips, you have what is called the location advantages from trade access to market proximity and everything in between. However, it is important to note that a saturated target market in the real estate industry may not necessarily mean that the market has a huge potential.

  1. Develop your negotiation skills

One attribute that contributes to your business success is good negotiation skills. It helps you create and build better business relationships. As a real estate developer, a good negotiation skill helps you in the area of cost management.

  1. Understand contracts

Contracts are non-negotiables in the property development industry. This is because real estate developers are often required to sign them to facilitate a transaction. So, it is quite important to know how to read one, and not just read but review with ease.

To be able to review these documents with ease, real estate developers are expected to acquaint themselves with the language typically of these documents.

  1. Consider becoming certified

Certification is not a primary requirement for a real estate developer, but it is an added advantage to emphasize your qualification and expertise.

There are certification courses unique to your side of the industry (commercial or residential development) or even general that will help teach you how to align your development vision with the industry cycles, regulations and financial feasibility.

  1. Start small

You have the passion, you have gained experience, you have the license, and you have a start-up capital start small and work your way up. But, if you think you have a thriving market that would deliver the expected returns, you can solicit investors and funds.

However, when you start small, you give yourself time to gain confidence in yourself and your credibility in business. You will be able to build a solid foundation so that you can handle future growth and learn to manage your resources.

Are you feeling it’s time you expand and take on more projects? You need the next step, put a team together.

  1. Have a Team

One way of creating a team is to employ several different professionals as required to complete the real estate development process so you can deliver more projects. This could lead to you establishing a real estate development company. Another way to get a team is to partner with a real estate development company, thereby forming a joint partnership. 

CONCLUSION

James Cubitt Developments (JCD) is a full-service real estate company that provides complete functional solutions in varying capacities concerning building projects. From the planning phase through to building, occupancy and maintenance we make it easy for you, providing a seamless turnkey development service.

 

Phone number: +234 715 9995, +234 715 9996

Email: info@jamescubittdevelopments.com

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