Development Commences in the First Smart City of Pakistan
The developmental process of a real estate project is a complicated process and here in this article we have simplified and broken down those phases into 3 phases. The three phases of real estate project development are pre-development, construction, and project completion. Early Stage Early-stage is also known as pre-development is the first phase where the investors conduct market research while determining their requirements and demands and then confirm a potential site location for the project. After this, the investors then work on an idea proposal or a concept design where the ideas are discussed what could be currently constructed or what other possibilities can be potentially constructed on the site. The project’s size and units are also discussed along with the restrictions that are imposed by the government. In the initial stages of the development, the investor’s prime focus is time and motion study, research, and planning, and then permit. However, at this initial phase mak...