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Property Development - Essay Example

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Summary to essay on topic "Property Development Essay"
This report is one of a set of issues paper prepared as part of an investigation into the planning challenges existing in the development of property in Australia. The formulation of a range of issues following a research into the role of the three key players in the development process in Australia in planning and property matters are dealt here.
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Download file "Property Development Essay" to see previous pages... While architects are seen taking proactive role in property development, others are cutting across traditional routine and creating a new role for themselves as designer-developers.
Architects, property developers, and town planners here in Australia see the true picture of international partnership developed between these three key players in property development abroad and are now trying to implement them here.
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Despite differences, these players are working in unison to create world-class infrastructures.
"The economic and demographic opportunities arising from demand for better and competitive infrastructures have driven developers and architects to forge an alliance that has shown tremendous success in places like Amsterdam, Hong Kong, London, Melbourne, Montreal, New York, and Tokyo. As architects and property developers break boundaries together, they are also beginning to transcend an established pattern of notorious and longstanding ill will. Property development has to be market driven and certainly not product driven. The architect can creatively add great value to the developers' commercial objectives by design. By working in tandem, an architect can achieve his architectural agenda at the same time." (Property Development and Progressive Architecture - The New Alliance, www.elx.com.au, referred on 4.27.2006)1
3.0 Property Developer

This paper sets out to differentiate and highlight the similarities of the role, objective, priorities and attitude held by Developers, Architects, and Statutory Environmental/Town Planners in respect to Property Development Process.

"Developers convert undeveloped, under-developed land, or existing buildings to satisfy market demands, using their entrepreneurial skills. Like all other entrepreneurs, developers expect, rightfully, to receive an appropriate rate of remuneration for their skill and risk involved in the particular development work.
Sadly, a majority of property developers, who possess genuine skill, expertise, a sound sense of social responsibility, and most of all, pride in their work, do not receive the publicity which they deserve. Peoples' real estate needs are met through the operation of various kinds of differing property markets in Australian society. These different types of markets can be categorized principally by way of location, size and usage criteria.

In undertaking development projects for the use of other members of society, developers automatically accept inherent risks which most members of society would be unable or unwilling to take on their own account. Market expresses a ...Download file "Property Development Essay" to see next pagesRead More
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