Land development projects can range anywhere from 1 hectare to 1,000 hectares or more. The smaller sites are usually at the fringe of metropolitan areas while the larger sites can be in relatively remote locations.
There are many factors to consider before embarking on land development projects – What are you going to build on it? What’s in the first phase to effectively kick start the development? Where’s the best location for the first phase? Does the first phase have sufficient economies of scale? What’s the zoning and development density – is it optimal? Are you selling too much GFA too soon? How much infrastructure are you rolling out in the first phase? Are you putting too much money for start up infrastructure? Where’s the utility supply coming from or do you have to invest in these yourself? Does your plan make economic sense – for you as the land developer as well as your potential real estate investors? What’s are the requirements of other stakeholders – like local planning authorities and municipal governments?
These are some of the basic questions you need to answer before even sinking your first dollar in the ground. Don’t make the mistake that land development is just about master planning. There are a lot of strategic issues to consider particularly if the project is big. Proceed wisely.