Property Development involves changing or intensifying the use of land to construct buildings for occupation. It is not the buying and selling of land for a profit; land is only one of the raw materials used. Other raw materials include the building materials, infrastructure, labour, finance and professional services.

Property development is complex, often taking place over a considerable timeframe. It also operates under constant public attention. The end product is unique in its physical characteristics and/or location.

The development process may be divided into the following main stages:

• Initiation
• Evaluation
• Acquisition
• Design and costing
• Permissions
• Commitment
• Implementation
• Let/manage/dispose