Real estate development , or property development , is a business process , encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels 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 or housebuilding , although many developers also manage the construction process or engage in housebuilding.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.[1][2]
Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm.
We are a Southern California real estate development company that brings new life to cities by transforming underutilized urban properties into exceptional residential and mixed-use communities. Our mission is to connect people to purpose and transform space into place. Our developments provide modern city dwellers with living, shopping, dining and entertainment experiences that enhance the community and celebrate “the art of urban living”.
Commercial property , also called commercial real estate , investment property or income property , is real estate (buildings or land) intended to generate a profit , either from capital gains or rental income. Commercial property includes office buildings , medical centers, hotels , malls , retail stores, multifamily housing buildings, farm land , warehouses , and garages. In many states , residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
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If you decide to get into real estate development, you'll need to understand the development process so you can succeed in the field. Learn more.
Learn more about becoming a successful real estate developer in this guide to the real estate development process from Prologis.