Real estate development, or building development, is a business process,re-lease of existing buildings to the purchase of raw land and the sale of developed land to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction, although many developers also manage the construction process. Developers usually take the greatest risk in the creation of real estate—and receive the greatest rewards. Developers purchase a tract of land, determine the marketing of the sell property, develop the building program , design, build the structures, and rent out, manage, and ultimately sell it.
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