Only a legal person – natural person or legal entity with legal capacity – may own real estate, including individuals, companies and other entities granted a legal personality by l...
In hospitality, hotel owners are distinctly separate from hotel operators. While the hotel owner is the owner of the hotel business, the hotel operator manages the business and op...
Who manages property development?
Property development is an interdisciplinary field and requires various skills and expertise. Typically, developers purchase a parcel of land, determine the marketing of the prope...
Investors in hotel property own the site and building for the hotels, receive the return on their investment and bear the risks of property ownership. Whether they are also hotel...
Who invests in commercial real estate?
An individual investor is an individual who invests relatively small amounts of money for his or her own account, as opposed to an institutional investor. Most individuals invest...
Who do real estate brokers represent?
A broker can be engaged by either party to a real estate transaction as instructed by that party, to whom the broker has a fiduciary duty. When acting as a seller’s agent, brokers...
Who are the development project participants?
A commercial property development project calls for the property developer to engage numerous professionals and service providers in various capacities during a project's extended...
Who are a project’s stakeholders?
A project stakeholder is any individual or group that can affect, be affected by or believe to be affected by a project during its life cycle and/or its output and can influence it...
When does the developer exit projects?
Project exit strategy establishes the plan to terminate the developer's involvement in a project, which is commonly upon completion of the construction and handover of the property...
What professionals are engaged in commercial real estate?
The property development process requires skills of many different professionals, including architects, engineers and site planners, market consultants, attorneys, environmental co...
