Real estate development is a long, complex, capital intensive process, further complicated by the involvement of many different interacting parties and construction crews, raising the number of people involved from start to completion, to hundreds or even thousands depending on the size of the project. Every prospective project, needs to account for a series of factors affecting the complexity of the process such as fluctuating dynamics of market conditions, strenuous financing procedures, stricter legislature on building code requirements as well as the fact that buildings are not just “brick & mortar” anymore. They are increasingly becoming technology loaded “enclosures” imposing higher design complexity and meticulous planning in order to retain value while remaining relevant to market needs through the years of their lifecycle.
Considering the criticality of what we refer to as the “Precedence Factor” in a construction project, managing it, foreseeing problems and acting proactively, requires knowledge and experience that the project owners are unlikely to possess unless it is their specialty or their professional occupation and have been through the process enough times before. Each project stage is the foundation for its successor, thus, every decision made and action taken (or not taken) affects the ones following. Mistakes, omissions or construction defects at any stage can severely compromise the results, lead to increased costs, reduced quality, expensive delays and capital loss. The ability to foresee and act proactively in order to prevent problems takes years of experience, knowledge and expertise, hence the earlier the development consultant is involved in the project the lowest the risk of error to occur.
Cumulative Process Risk
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Complexity
Proactive Decision Making
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Multiple Teams
Technology Integration
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External Conditions
Metrax’s role is not only to guide the project owner(s) through the process but to also undertake the burden of all planning and coordination of the teams involved. Yet, we prepare marketing material, promote, manage sales and lease or tenancy agreements at the same time. Beginning with brainstorming sessions leading to concept creation and concluding with the handover of a fully functioning construction fitted to operate, as a Development Consultant we become one member of the development team that acts in every single stage of the process to ensure project completion and success. By bringing METRAX “on board”, project owners gain access to the knowledge and experience of professionals that have completed the process many times before and are able to dynamically re-adjust the team’s skill-set according to needs as the project progresses.
Metrax role as Development Consultant |
Metrax Development Services’ Highlights |
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Preconstruction Phase* |
Construction Phase* |
Post Construction Phase* |
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*For more information about our pre-construction, construction and post construction services please click here |