Real estate development is a comprehensive process carried out to build new projects on a plot of land or existing property or to increase the value of existing structures by improving them. This process includes many different stages from the idea stage to the completion and marketing of the project. Real estate development is a complex business that requires proper planning and professional management.
As Ozalp Corporation, we provide services in the following areas in the Real Estate Development process:
- Idea and Concept Development:
- Market Research: Analysis of the target market, economic conditions and regional demand for potential projects. At this stage, the type of project (residential, commercial, mixed-use, etc.) and its features are determined.
- Concept Design: The concept of the project is developed according to market needs and land potential, and the approximate construction area and saleable/leasable area calculations are carried out.
- Site Selection and Land Acquisition:
- Land Selection: The most suitable lands for the project are determined by considering ease of access, environmental factors and legal regulations. Before the purchase or rental of the selected lands, the property rights, zoning permits and land registry records of the relevant land are examined in detail and presented to the Employer in a report.
- Architectural and Engineering Design & Official Permits:
- Architectural Design: The main design responsible is decided together with the Employer and architectural details are developed in accordance with the project concept. At this stage, interior and exterior designs, floor plans and material selections are made with the approval of the Employer.
- Engineering Design: Engineering companies are selected for the sub-branches together with the main design responsible and technical details such as structural, electrical, mechanical and plumbing systems of the structure are designed.
- Zoning and Construction Permits: All legal permits required for the implementation of the project are obtained on behalf of the Employer. This includes applications made to obtain approval from local authorities and the necessary procedures.
- Financing:
- Financing Planning: The costs of the project are calculated in detail and financing sources are determined. Bank loans, investor funds or financing provided from capital markets play an important role at this stage.
- Project and Construction Management:
- We perform project management to ensure that the construction process is completed on time and within budget. We manage the entire process from the selection of the main contractor company to the preparation of the project for sale/rental on behalf of the Employer. Our main goal is to ensure that the project is completed in the desired quality, within the determined budget and on the anticipated time.
- Marketing and Sales:
- Marketing Strategy: Strategies are developed to present the real estate project to the market.
- Sales and Leasing: After the project is completed, the sale or lease of the real estate is carried out. At this stage, customer relations management and after-sales services gain importance.
- Project Delivery:
- Project Delivery: During the delivery of the completed project to the customers or investors, all deficiencies and faulty manufacturing are corrected to the main contractor company within the scope of the contract and the properties are delivered to the customers without any problems.
- Real Estate Management: After delivery, necessary arrangements are made for the management and maintenance of the project. Leasing management, maintenance and repair services are included in this scope.
Real Estate Investment Trusts (REITs) are capital market institutions regulated by the Capital Markets Board within the framework of the Capital Markets Law; which can invest in real estate, real estate projects, rights based on real estate and capital market instruments, which can be established for the purpose of realizing certain projects or investing in a certain real estate and can engage in other permitted activities. Their incomes are exempted from corporate tax under certain conditions.
REITs offer investors the opportunity to make real estate investments without having to face the difficulties of making large real estate investments individually. REITs are generally publicly held companies and investors indirectly invest in the real estate market by purchasing the shares of these companies.
REITs provide resources for the financing of large-scale real estate projects such as residences, business centers, hotels or shopping malls. Companies need to undertake a significant financing burden in order to carry out such large projects. This often means financing through loans, which means an interest burden for companies with insufficient equity. However, such projects can be financed with money collected from the public in exchange for real estate investment partnership shares. Thus, the company’s financial burden is greatly reduced.
As Ozalp Corporation, with our long-standing experience in the REIT sector, we provide REIT establishment/transformation, public offering process management and strategic management consulting services to real estate development companies planning to establish a REIT.
