Further approvals are required when the circumstances of the development change after the initial approval.

is the step of property marketing that involves determining demands to be met.

Discuss

the roles of the

Note, a deeper discussion is expected to get the full mark.

A residential development has 2 years construction period. The total development cost of this project is $23,000,000 and the GDV of the project is $48,000,000. Assuming the developer’s margin is 15% of the GDV, calculate the land value.

Just provide the final answer.

Minimal

operating costs are not important to investors in marketability analysis.

Forecasting and planning for a proposed

development require knowledge of only the current market trends.

Property financing is a structured process to ensure that the developer delivers on the stated goals.