Property development companies specialise in renovating existing or building new properties. They undertake the entire development process including sourcing and buying land, creating plans for the project, gaining planning permission from regulatory bodies, sourcing builders or construction companies to perform construction and marketing or selling the property once the project is completed.
Property development companies can finance a project from their own capital or sell units within the project to cover the costs of development. Often they work with investment companies that provide finance for the project and take a share of the profits upon successful completion. Property developers work with a range of counterparts to bring a project to a successful completion such as engineers, architects, planning authorities, lawyers and builders to name just a few. They coordinate all the different bodies that are required to complete a project.
