At True Memories, we have a team of specialists who have vast experience and know-how in all the stages of real estate development projects. This is extremely important to ensure maximum project quality and rentability. In this article, you will learn what True Memories, as a developer real estate company does, and how the real estate development process works.
As said by Gower Croud, a real estate developer can be compared to the conductor of a large orchestra. The person or company does not necessarily play any of the instruments but directs the musicians on how and when to play the music.” This means that the real estate developer has an overview of the project and manages the different project stages, from A to Z. From hiring a contractor to working with government planning staff, a real estate developer wears many hats and brings the entire project together.
The real estate development process has 5 main stages:
The first step is to identify the project and create the plan. It all starts with a vision from the developer. In True Memories, we have extensive know-how in the real estate market in Lisbon. This know-how brings us ideas for successful developments, for example for projections in vacant pieces of land or reconstruction of old buildings. In order to find these profitable opportunities, it’s essential that we execute market analysis and take into consideration the trends in the marketplace. Based on this analysis, we create a development plan, with an overview of the project, its finances and how it will be executed.
In True Memories, we create the project from its origin and develop all the studies, economical and financial analysis to ensure its future rentability. The ability to create a development within budget can mean the success or failure of the project. After analysing the opportunity for real estate investment, we start the elaboration of rentability studies. The main objective is to create financial previsions for the return on investment of the project, making sure that it will benefit all the parties involved - from the developers to the constructors and the investors.
The designers’ team develop the studies and plans necessary for the project’s completion and legalization. This includes topographers, engineers and architects. This is a crucial phase, where the project will get the necessary approvals, from the county or city government.
We also have an associated construction company that builds the project. Our partners, Paviana Construções, have more than a decade of experience in the market and have executed more than a thousand rehabilitation and construction works. For a developer, one of the most important factors is that the project sticks to the timeline and stay within the desired budget. The longer a project takes to complete, the more money it costs. That’s why we work with partners who always complete the construction works during the expected time.
We have partner lawyers that support us in the juridic process and sales partners that find the sales channels for each project. The most important aspect for a project to happen is securing and managing finances. Unless funding is secured, a project will not get built. Throughout the project time, we ensure that the project stays on budget and the money is allocated correctly.
All of these steps are crucial to ensure a high-quality and high-profitable real estate project. Our main goal is to provide great results for everyone involved. If you wish to know more about our work and how to invest with us, contact our team.