The Real Estate Development Process: An Entrepreneurial Lens

Real estate development is the ongoing configuration of the built environment for society’s needs. The improved spaces in which we live, work, and play all started as ideas initiated and brought to fruition. Every real estate project, whether it’s making use of unused land or redeveloping existing properties, is in essence a separate business undertaking employing the three factors of production - land, labor, and capital - to create a new or changed product. These factors are coordinated by entrepreneurial management and delivered by teams.