Stages
An entrepreneur begins by identifying an area or building that has potential for urban renewal. They assess the location, the quality of existing buildings, infrastructure, the area's attractiveness, and regulatory conditions. This stage also includes examining the local market conditions, land prices, and potential building rights.
The entrepreneur initiates the process by reaching out to the apartment owners in the area or building in question. This process includes presenting the proposal, outlining the project's basic assumptions, and assisting in forming the necessary agreements to bring the project to life. Typically, a majority of at least two-thirds of the apartment owners is required to begin the process.
Once initial agreements from apartment owners are obtained, the entrepreneur begins preliminary project planning, which includes developing an initial urban building plan (UBP) and planning potential building rights. This stage also involves conducting an economic analysis of the project's feasibility, estimating construction costs, relocating tenants, and forming a financial model to secure funding and ensure profitability.
At this stage, the entrepreneur submits the urban building plan (UBP) for approval by the local or regional planning and building committee. The process may include adjustments and adaptations to meet the committee's requirements, meetings with city engineers and other planning authorities, and discussions on infrastructure, allocation of public spaces, traffic, and more.
One of the critical stages for the entrepreneur is securing financing for the project. The entrepreneur needs to present a detailed business plan to financial entities such as banks or private investors to obtain the required capital. This process includes structuring guarantees and securities to ensure project execution and return on investment.
After receiving approvals, the entrepreneur engages with contractors, suppliers, and various consultants for the actual construction work. The entrepreneur also manages contracts with the apartment owners, including terms for relocation and return to the new apartments, as well as with new buyers for apartments built as part of the project's additions.
At this stage, the process of relocating tenants begins, along with demolishing old structures and starting the construction of new buildings and public infrastructure. The entrepreneur oversees all stages of construction in coordination with contractors and consultants, ensuring adherence to the budget and the predetermined timeline.
During or towards the end of the construction phase, the entrepreneur begins marketing the new apartments. The marketing process can start even before construction is complete, by offering off-plan sales (pre-sale), to secure early sales that will improve the project's cash flow.
Once the construction is complete, the entrepreneur coordinates the handover of apartments to both the original residents and new buyers, completing the urban renewal cycle.
After the handover, the developer continues to monitor the condition of the apartments and the building within the warranty period, as defined by law. The developer must ensure that any defects are repaired according to their commitments.
Stages
Stage 1
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Stage 2
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Stage 3
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Stage 4
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Stage 5
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Stage 6
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Stage 7
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Stage 8
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Stage 9
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Stage 10
Opportunity Identification:
Engaging Apartment Owners and Reaching Agreements:
Initial Planning and Financial Assessments:
Planning Advancement and Statutory Approval:
One of the critical stages for the entrepreneur is securing financing for the project. The entrepreneur must present a detailed business plan to financial institutions, such as banks or private investors, to obtain the required capital. This process includes structuring guarantees and securities to ensure project execution and a return on investment.
After obtaining approvals, the entrepreneur engages with contractors, suppliers, and various consultants to carry out the actual work. The entrepreneur also manages contracts with apartment owners, including relocation and return terms for the new apartments, as well as with new buyers for apartments built as part of the project's additions.
At this stage, the process of relocating tenants begins, followed by the demolition of old buildings and the start of construction on new buildings and public infrastructure. The entrepreneur oversees all stages of construction in coordination with contractors and consultants, ensuring adherence to the budget and the established timeline.
During or towards the end of the construction phase, the entrepreneur begins marketing the new apartments. The marketing process may start even before the construction is completed, through pre-sales, with the aim of securing early sales to improve the project's cash flow.
Upon completion of construction, the entrepreneur delivers the apartments to the original apartment owners and completes the move-in process for new residents. At this stage, quality checks are conducted to address any defects or issues that may have arisen after occupancy.
After handover, the entrepreneur continues to monitor the condition of the apartments and the building during the warranty period, as defined by law. The entrepreneur is responsible for ensuring that all defects are repaired in accordance with their commitments.
If you have questions, if you're interested in more details about our projects, or if you're looking for the right contractor for your next project, we would be happy to be at your service.
If you have questions, if you're interested in more details about our projects, or if you're looking for the right contractor for your next project, we would be happy to be at your service.
If you have questions, if you're interested in more details about our projects, or if you're looking for the right contractor for your next project, we would be happy to be at your service.