Developer — is a professional or company involved in the development, financing, construction, and implementation of real estate projects. Developers play a key role in the creation of new residential, commercial, and infrastructure projects, overseeing the process from the initial concept to the sale or lease of the properties.

Unlike construction companies, which are directly involved in constructing buildings, developers coordinate the entire process, including market research, project development, financing, permitting, and property marketing.

The main functions of the developer:

  • Search and acquisition of land. Any developer’s project begins with a search for a suitable land plot, taking into account the location, infrastructure, legal aspects, market demand, and potential for future development of the territory. The developer is not a patron and evaluates the prospects of the project solely from an economic perspective.
  • Project development. The developer initiates the project development in collaboration with architects, engineers, and urban planners. At this stage, the concept of the future object is created and its compliance with legal regulations and market expectations is laid down.
  • Financing. One of the key tasks of the developer is to attract financing for the implementation of the project, including both the company’s own capital and bank loans, government support programs, or external investments.
  • Registration of permitting documentation. Any construction project requires obtaining a number of permits and approvals from state and municipal authorities. Developers ensure that the project complies with all legal and environmental standards in cooperation with state authorities.
  • Construction management. Although construction work is usually carried out by contractors, the developer is responsible for coordinating all stages of construction. The developer selects construction companies and monitors the quality of the work performed, and compliance with deadlines and budgets.
  • Marketing and sales of properties. After construction is completed, the developer organizes the process of selling or leasing properties and also promotes real estate on the market. Developers strive to maximize the profitability of the project by selling properties at favorable prices and in the shortest possible time.

Types of developers:

  • Residential real estate developers. These developers specialize in the construction of residential complexes, apartment buildings, cottage villages, and other residential properties.
  • Commercial real estate developers. Commercial real estate developers are involved in the creation of office buildings, shopping centers, hotels, and other facilities that are intended for business purposes.
  • Infrastructure developers. Infrastructure developers build roads, bridges, transportation hubs, and public spaces such as parks and recreation areas.
  • Multifunctional complex developers. Such developers create projects that include both residential and commercial real estate in one complex. These can be large residential areas with retail and office space.

Developers’ projects may include the modernization of abandoned or outdated areas (for example, the renovation of industrial zones) or the creation of entirely new areas, including residential areas and business centers.