Making A Case For Quality In Real Estate Development

Written by  Propertygate,Advisory Group, Osagie Alfred Published in Editorial Wednesday, 11 July 2012 08:38
Rate this item
(1 Vote)

In the light of rising housing deficit, developers – both private and public – in varying capacities are responding to this enigma ravaging the housing industry. Their responses are evidenced by various ongoing developments scattered across the country. Some projects tap into existing gaps in the real estate market while, others create new markets. Regardless of the capacity and market being operated, it is pertinent to understand that such developments are meant for living individuals seeking to satisfy their most important need in life after food and clothing. Therefore, quality should be of high priority.

 

A challenge facing most developers is how to arrive at a balance between quality and right pricing. Consumers are fast becoming aware of the importance of quality. Though current aggregate effective demand is low, nevertheless, quality must not be compromised for anything. However, in order to maintain projected profits albeit increased costs of construction, some developers decide to trade quality. This results in scope creeping of projects and eventual delivery of sub-standard houses. Most of the structural elements are functionally obsolete. The housing deficit leaves consumers especially at the lower-end market with little or no options. Should we then continue to create cities decorated by sub-standard buildings?

Beyond serving the purpose for which it is built, developed properties should also provide a feeling of pleasure and prestige to the owner. In relation to the whole life span of a building, actual construction represents about 4 to 5 percent. It is, therefore, worthy of note that the decisions made at this stage of a building life will determine to a large extent if its life span would be shortened, maintained or even extended.

Areas requiring detailed attention include: cement concrete construction, rebar works, brick masonry construction, formworks and other woodworks, plumbing and electrical works finishes et cetera.

Developers and their respective clients must both ensure that quality control measures and assurance are not undermined in the building process. While the developer must ensure that the workmen employed in the development are qualified and experienced to effectively and efficiently carry out their assignments; clients must ensure the expected quality does not vary from the actual product upon delivery. The client’s role becomes unachievable if the client lacks detailed construction knowledge or if the client doubles as the developer.

When the former is the case, the client needs to engage the service of an independent construction adviser who is vast in construction detailing to perform audit of the work at different construction milestones. When the latter is the case, integrity is what guarantees quality. Ultimately, developers and their construction contractors must establish effective quality assurance and internal quality control systems in order to deliver on promise and build a respectable brand. They must ensure that they protect their client’s interest from the commencement of the project till close-out.

In summary, all stakeholders of the built environment including consumers must ensure that quality standards are upheld in our development operations so that our cities can be great reference point amongst the world’s beautiful cities.

Do you have any questions pertaining to real estate development and investment? Send it to This email address is being protected from spambots. You need JavaScript enabled to view it., call 01-9504884, 01-9515570 or text 08038197104.

 

Read 1215 times Last modified on Sunday, 17 March 2013 22:22
Login to post comments