03/04/2023
Project Development Management
At Greentown Home Developers we do strategic planning, administration and controlling the project during its development life cycle, from project planning through to construction completion and project exit. It is performed to minimize project and financial risk while maximizing profit for the land owner.
We take up the responsibility for project planning, project management, financial management, and project delivery through all development phases, until project exit.
We identify suitable sites, inspect and appraise new opportunities, review and advise on redundant land, and advise for suitable land approvals. We also liaise with local authorities to obtain permits and authority approvals.
We undertake the feasibility analysis of the project and provides the business plan, budget plan, and schedule of works. We oversee the progress through the legal, technical and financial stages of development projects and monitor progress to project completion.
We take up the task for overall project delivery, contractor tendering, and design management. We work closely with the architects, engineers, interior designers and general contractors to ensure that all the specific requirements (specs) of the project are met and represent the landowners on-site towards construction and operator personnel.
We evaluate and manage the budget and ensure that the correct financing is in place. The planning plays an important role for completing the project according to budget and the development program.
We also coordinate the marketing, leasing or sale of the developed properties and are often responsible for facilities and asset management post-construction. We collaborate with the landowners to scope services, create proposals, and close opportunities.
The roles, responsibilities and expectations for us vary according to each project's organizational structure, project and exit strategy, complexity and size. These issues are defined for each project in the development management agreement (DMA).
Development Management Agreement (DMA) defines scope of work in an elaborate way.
A development management agreement (DMA) assigns overall management responsibility for a development project to us. Through the DMA, we assumes responsibility on the landowner’s behalf for the management and administration of the project.
We engage for the planning of the project's strategic planning until construction completion and the landowner’s exits from the project. A detailed scope of services is included as a schedule or an appendix to the DMA.
The DMA sets out the our role, responsibilities and obligations, the services to be provided, contract suspension and termination, including reporting obligations. The DMA also provides for a business plan, budget plan and the schedule of works.
DMA will provide for us to represent the landowners toward the project team in all project meetings and negotiate contracts on the landowner’s behalf. Landowners usually retain an element of control over their projects by requiring us to obtain consent or approval for important decisions, processes and procurement.
Landowner consent will also be required where services would cause a financial threshold of a certain value to be exceeded. However, contracts below the threshold can be entered into directly by us through delegated authority.
A development management fee is charged commonly based on a percentage of the project's total development cost and capital expenditure. Alternatives fee models are common such as profit percentage with retainer-ship fee.
The DMA will effectively govern the relationship between the parties, minimize the risk, and increase the efficiency and quality of the project. It would identify project risk exposures and call for risk management and contingency plans to reduce and/or eliminate the risks.
Costs and Fees in the DMA
The development management agreement (DMA) clarifies what constitutes development costs and assigns responsibility for incurring them. Total development costs, which are borne by the landowners include construction costs and other development/project costs.
Broadly, construction costs are those costs incurred through the actual construction of a built asset, including building design and construction fees. The costs are often determined by the value established in the construction contract.
Other development/project costs are those costs not directly associated with constructing but form part of the total development cost. Examples of such costs incurred for marketing, and planning permits.
The calculation of the development management fee is one of the most important DMA provisions. The development management fee can be calculated in various ways, including:
Percentage of development costs - A percentage of the actual costs incurred in the development project;
Fixed fee - A lump sum fee payable on key dates or upon completion of construction milestones;
Percentage of development income - A proportion of the proceeds of sale and/or other sums of the capital or income received by the developer from the project; or
Success fee - An amount of construction KPIs, usually only when a certain threshold or hurdle rate has been achieved.
We may undertake the construction or appoint contractors to carry out the construction.
Profit sharing programs may be used to incentivized the development and the management team. External project managers and contractor's would only profit from the process of carrying out the works, not from the project itself.
To achieve the maximum sustainability of development projects, we have the knowledgeable and experienced team and paid a commensurate fee. Their skills greatly influence the success of sustainable development projects.
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Contact me if you have complete details i.e. Shizra , copy of license, site marked on sector plan , site picture and google link of the site and can arrange meeting with the land owner
For Enquiries Call:
☎ 9873642436 , 8851551332
🌐www.greentownhomedevelopers.com
✉ [email protected]
📲https://wa.me/919873642436
