Property Development

Prior to inception of a development proposal, Planning & Development Surveyors provide clients with necessary site search and detailed analysis, and advise them on property values and appropriate land acquisition strategies. They conduct detailed market research to understand specific markets and recommend the appropriate type and mix of land uses, and the optimal scale of development with a view to maximizing project return while minimizing the risks. Development appraisal, covering land and property valuation, cash flow analysis, project return estimation, sensitivity analysis, etc., can be undertaken to test the viability of the development proposal under different scenarios.

Planning & Development Surveyors specialize in the interpretation of lease conditions ; can advise on compliance with the lease conditions or any modifications to the lease conditions required; can act for the land owner to submit an application to the Lands Department for a modification (or surrender and re-grant) of their land lease, negotiate with the Government on the lease terms and conditions (including the land premium) ; and assist in the execution of the lands document.

Depending on the statutory town plan zoning that the development site falls within development on it may require prior approval from the Town Planning Board. Planning & Development Surveyors can advise on zoning implications and the strategy to submit planning applications, review and or appeal; co-ordinate with other professional experts to prepare the necessary technical impact assessments to support the planning application. Professional services may alsobe provided in submitting planning objection to gazetted town plan to safeguard the interests of land owners.

Property development requires a wide range of inputs from various disciplines. Planning & Development Surveyors can help to set up a right team for development projects with team members coming in at an appropriate time during the process; monitor the project progress against the development programme, advise on re-distribution of resources and to resolve issues arising during the development process.

In order to update the clients on the change in financial position of the project, Planning & Development Surveyors will carry out continual evaluation of the development proposal throughout the development process. It is done by inputting the actual cash inflow and outflow as well as a more accurate forecast on future incomes and expenditure into the financial model. A regular review of the property market trends can ensure that the development meets the client's requirements apart from the supply and demand situation in the market.