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Land development, also known as land development, is a special kind economic activity aimed at developing new territories to increase market value land and subsequent sale to individual developers. Medium and long-term investments v earth are extremely attractive to big investors, because they provide a good rate of return at minimal risk. Achievement economic profit in similar projects development is practically guaranteed, and the developer's task is only to maximize it and achieve the indicators required by the investor.

Land development has many possible forms, but the most common and popular options on the market are the following:

• development of individual housing construction: the purchase of a suitable site a large area (often agricultural land) with its subsequent surveying, summing up communications and selling individual plots with or without a contract for the construction of a residential building;
• development of industrial or business parks: acquisition of industrial land, installation of communications and construction of infrastructure common use allocation of plots for construction of industrial real estate and their sale to investors;
• development of recreational areas: acquisition land plot in areas with favorable natural and climatic conditions, the construction of basic infrastructure, the sale of land for the construction of hotels, amusement parks, facilities for sports and outdoor activities.

It is clear that each of these forms development requires large-scale investments, but in practice, the payback of projects for the construction of cottage settlements can be achieved in a fairly short time. talking plain language, land development aims to increase investment attractiveness land plot for private, "retail" investors. Dozens of small plots with developed infrastructure and all communications can be quickly sold out at much higher prices per hundred square meters than those at which land purchased in bulk at auctions.

Professional land development includes the following services:

• market analysis and selection of suitable site to invest funds;
• development of a financial model and technical and economic planning of the project;
• preparation of a master plan for the development of the territory, design and working documentation on basic infrastructure;
• organization and control of work on summing up communications, interaction with resource providers;
• land surveying, land transfer, legal support;
• promotion to the market of proposals for potential buyers, the sale of finished plots for building;
• project management at the operational stage.

Land development may not be directly related to the creation of new residential or commercial real estate, but its end result is always the development of new territories. The assistance of a development company at all stages of the project life cycle allows the investor to avoid possible losses associated with the acquisition of illiquid assets, incorrect assessment of the market value of land, erroneous determination of the use of the site, inefficient work of contractors.

The company "TechnoStroyProekt" specializes in providing services in various types development real estate. You can get more detailed information and examples of successfully implemented projects, leave a request for a service or ask questions to our specialists by phone or directly at the TSP office.

Land development is a process aimed at developing a land plot in order to increase its value, maximize profits, or solve social or other problems. As is known in Russia, taking into account its vast territories, many land plots is in someone's property, but it is not used or built up in any way. The task of land development is to identify the best option for using the land plot and then implement the project. Here are examples of land development projects in Russia that show the main options for using land.

1. Construction of a cottage settlement. Most often, a developer acquires a large land plot, which is subsequently divided into small plots, communications are laid: electricity, gas, water, and then small plots are sold to customers without a contract for cottage development. In this option, the economic benefit is achieved through the acquisition of a large area at a relatively low price and the sale of small plots with communications at high prices. It is possible to implement the project with a mandatory contract, in which case the cottage village is built up by the developer according to pre-selected projects for specific clients.
2. Construction of industrial parks. By analogy with cottage village a large land plot is bought, all necessary communications are laid, a breakdown is made into plots of a smaller area, which are subsequently sold to legal entities. persons for construction of industrial facilities - warehouses, workshops, etc. There are situations when the buyer himself carries out construction work and when the developer of the industrial park builds up the site according to the project of the customer (buyer of the site). On some land plots, the project developer builds his own facilities, which he later leases out. Economic benefit, as in the previous example, is achieved by dividing a large site into small ones, as well as by performing construction contract work.
3. Recreation centers, amusement parks, ski resorts, beaches etc. Land plots, the location of which contributes to the development of a recreational area, are used to equip paid beaches with infrastructure, open open-air amusement parks with various attractions, and equip sports grounds. This option of land development is based on the creation of infrastructure, the installation of various equipment on land plots, which will generate income during operation.

There are also many other examples of successful land development, which allows you to extract income from the development of land and increase its value.

It is important to note that in the implementation of commercial projects, in most cases, land development is reduced to either extracting current income or profit from the sale of assets that have grown in value.

At the same time, the successful implementation of a land development project depends on the following factors:

• correct definition the best option land use
• A well-designed project concept and a reasonable financial model
• Effective project implementation

Our company provides a full range of services at all stages of land development, including

6.2. Development of real estate objects (development, land development, redevelopment)

A significant place in the real estate market is occupied by entrepreneurial activity related to the development and development of land, territories, structures and other real estate. In countries with developed market economies, this activity is called development.

The essence of the phenomenon of development can be expressed as follows:

1)special type of entrepreneurial activity in order to generate income as a result of the transformation of material processes, expressed in investment development real estate objects. It includes the selection of a team of project participants, market research, marketing, design, construction, financing, accounting, property management. This field of activity requires major investments with a long cycle, and real estate objects for a long time can create regular flows Money. Thus, development is one of the varieties investment projects;

2) transformation real estate object as a result of construction (repair) and other works with buildings, structures or land or its transformation into another new real estate object (change of functional purpose), which has a higher value than the original one.

Developer - entrepreneur who initiates and organizes the best of options development of real estate objects, including financing of the project and implementation of the created object.

Currently, almost all organizations involved in housing construction call themselves developers. And not without reason, since for the most part the land plots on which construction could be carried out were absolutely unprepared: there was no legal registration, there were no engineering networks, etc. Construction organizations it was also necessary to solve the tasks of preparing land plots, while each of them was engaged in development, as a rule, for its own business: a construction organization built housing on the prepared land, attracted investments in it, and subsequently organized maintenance of the constructed facilities.

In domestic practice, legal or individual which owns or leases a plot of land, has made a decision on the construction or reconstruction of an object (complex of objects), determines the financing schemes for construction (reconstruction) and coordinates work on its implementation from the pre-project stage to the commissioning of the object or the operational stage, is called developer. A natural question arises: are these concepts equivalent? Certainly not! In this case, there is a combination of development functions by the developer.

The role of the developer as a professional entrepreneur is determined by his functions. The most important of them is the choice of the best possible option for the development of real estate objects, ensuring the optimal scheme for financing a project for the development of real estate objects, the implementation of the project, as well as the implementation of the created object by selling it, leasing it, etc.

Development is a direction in which other profitable lines of business transfer a significant part of the income, and wide availability borrowed money, the development of a mechanism for their involvement in the circulation and diversity financial instruments create a favorable environment for the development and operation of development. At the same time, development, like other types of business, depends on the investment climate in the region.

In accordance with the main principle of a market economy, a developer may not implement an investment project, but sell it with a high degree of readiness to start construction works and engage in another investment project.

The growth in investment in domestic real estate has led to an increase in demand and prices for land plots (especially for commercial construction), as a result, to active development land development, the main task of which is to prepare the territories for the start of the construction process. Classic land development is the formation of a habitat, increasing the liquidity of sites and their investment attractiveness.

Foreign and Russian developers and investors do not want to waste time solving the problems of transferring land from one category to another, coordinating the interests of private owners in the process of buying land plots from them or finding out the potential possibility of connecting to engineering networks.

In Russian conditions, the term "land development" itself includes a fairly wide range of activities - from the transfer of land from the category of agricultural purposes to the integrated development of territories, and the result of land development is, first of all, investment product, i.e., a piece of land prepared for the start of the construction process. To achieve this result, it is necessary to solve three groups of problems:

Development of the concept (selection of the most efficient variant of land use);

Legal support of a land plot, including changing the category of these lands;

Engineering and technical (connection to utilities, construction of roads and networks, as well as arrangement).

Professional land developers specialize in full spectrum services, choosing consulting, marketing, legal services, project management or engineering as their core business and outsourcing the rest of the services, and are rarely engaged in construction on the entire plot of land. They carry out engineering training of land, a planning project, and then they sell small plots of land to other developers in lots.

In the near future, companies will appear on the domestic real estate market offering comprehensive services to address legal, financial, organizational and coordination issues, i.e., resolving all issues - from the conclusion of a transaction to obtaining a certificate of ownership and putting the facility into operation.

The developer's responsibilities typically include selecting and defining a conceptual business idea for the project; choosing a site that best suits this idea and acquiring rights to it; marketing; search for mechanisms to attract investors (including through the development of collective investment schemes, strengthening ties with financial market); organization of project financing; design and construction management; renting out the completed facility with subsequent operation or selling it. All this is preceded by an analysis of the best development of the object. Depending on the functional orientation, there are office,trade,residential,hotel,sports,entertaining,recreational and combined development.

Entrepreneurial activity associated with the transformation of a real estate object into another, new object, with a different functional purpose, as a result of which the value of the object increases, in the Western economy is called redevelopment. In domestic practice, this direction of entrepreneurial activity is called the development of territories (secondary development). Redeveloper - This is the person who manages the process of development of territories.

A working tool that allows attracting investments at different stages of development of a development project and reducing its risks is master plan. This term can be translated as a prototype, foresight of the project, an attempt to look at the future development of the territory. The classic master plan is necessary for the implementation of projects related to redevelopment (regeneration of territories), as well as the development of large primary (more than 100 hectares) land areas, and for the so-called opportunity projects, similar projects the Olympic Territory in London, the former territory of ZIL in Moscow, the Embankment of Europe in St. Petersburg, i.e. in projects implemented by the joint efforts of several owners of real estate objects.

The master plan is created at the pre-development stage, when the general concept is already ready, which contains the general idea for the development of the territory for 5-15 years. On its basis, planning and surveying projects are developed (Fig. 6.1).

Rice. 6.1. The essence of master planning

The master plan allows you to form a systematic approach to the development of the territory; take into account the opinions of various specialists, experts and the public; develop the site purposefully and consistently; respond quickly to changes in the real estate market. If you have a master plan, you can pre-assess the potential of the territory and perform variant modeling of its development for different types of functional use. The master plan is not approved as a project, it is always at hand, and changes are made to it from time to time. This is a working tool that allows you to perform, among other things, a competent internal survey of a land plot in order to sell its separate parts if necessary.

A whole team of specialists is working on the master plan - there can be up to fifty of them. These are master planners themselves, marketing economists, financiers, engineers of six or seven specialties (in infrastructure, transport, etc.), environmentalists, landscape architects and designers, designers of public spaces, etc.

A master plan is only in a narrow sense similar to a territory planning project. It contains proposals for the construction of buildings on the selected site, the creation of open spaces, the ratio of vacant and built-up areas, the formation of key elements of the project, basic engineering solutions, traffic management, main types of land use and best ways implementation of all these proposals in practice. However, in a broad sense, this is a detailed concept of development, which is filled with budgets, receives a full-fledged financial model, divides the project into phases, etc. In essence, this is a tool for the formation and implementation of a strategy for the physical, economic and social transformation of the territory.

The work on the master plan can be divided into three stages:

Clarification with the customer and formulation of the goal and objectives of the development project;

Macroanalysis, which allows the customer, together with the developers of the master plan, to understand the position of the site, to resolve the issues of its functional zoning in the General Plan, to clarify the scope of the future project, comparing it with analogues;

The concept of the master plan and visualization of the future complex, including the definition of the main building parameters, modeling, the financial analysis and sequencing of the project.

Starting to work on a project master glider first of all, he studies the history of the place, its urban planning features, architecture, because the emotional characteristics of the future investment product are extremely important.

The environment should be comfortable, regardless of what will be on this site: a business center, a logistics terminal or housing. Master planning is aimed at this, especially when creating a new urban environment in undeveloped areas, transforming depressed (primarily industrial) zones; creation of alluvial territories; implementation of large projects implemented by the efforts of several property owners.

From English. development- development, the designation of a long process affecting the totality of economic and social structures, requiring its qualitative assessment.

PNK Logistics acquired a 3-hectare site (Shushary) and acted as the customer, general designer and general contractor for the construction of the warehouse. In 2005, a facility with an area of ​​14,650 m 2 (of which 2,300 m 2 are offices) was put into operation and put up for sale. Offer price - 850 USD/m 2 . The property was purchased by a foreign investment company and leased for 10 years with the right to prolong the logistics company Tablogix operating in the Russian market since 1994 and providing storage and handling services at five warehouse complexes with total area 53 thousand m 2 located in Moscow, near Moscow and Novosibirsk. This is the first class A warehouse complex in the St. Petersburg region. ready business and attraction of the tenant.

Territory - a part of the city within the boundaries agreed by the Committee on Urban Planning and Architecture, on which investment development activities are carried out.

In the context of the transition to market economy the scientific and practical concept of development is gaining increased interest. The term is formed by borrowing the English word development, which means “development, expansion, deployment, growth; evolution". In world economic practice, it is used to refer to activities aimed at increasing the value of an object through its qualitative changes. In Russian practice, the terminology of land development is becoming more and more relevant, acquiring a fairly wide range of shades - from the transfer of land from the category of agricultural use to the integrated development of territories.

The growth in investment in domestic real estate has led to an increase in demand and prices for land plots (especially for commercial construction), as a result, to the active development of land development, the main task of which is to prepare territories for the start of the construction process. Classic land development is the formation of a habitat, increasing the liquidity of sites and their investment attractiveness.

Foreign and Russian developers and investors do not want to waste time solving the problems of transferring land from one category to another, coordinating the interests of private owners in the process of buying land plots from them or finding out the potential possibility of connecting to engineering networks.

In Russian conditions, the term "land development" itself includes a fairly wide range of activities - from the transfer of land from the category of agricultural purposes to the integrated development of territories, and the result of land development is primarily an investment product, i.e. a plot of land prepared for the start of construction process. However, there is an opinion that the function of a land developer lies precisely in project management. "Management" of the project includes not only the choice of the location of the land, the development of the concept of the project, the choice of building format, calculation economic efficiency, but also the development of an advertising strategy, PR programs, the establishment of a sales scheme, their legal support - and all this until the completion of the implementation of objects. But not everyone agrees with such a broad interpretation of land development and offer the following definition - "classic land development should be considered an activity aimed at increasing the liquidity and investment attractiveness of land."

To achieve the result, it is necessary to solve three groups of problems:

— development of the concept (selection of the most efficient variant of land use);

— legal support of the land plot, including changing the category of these lands;

- engineering and technical (connection to utilities, construction of roads and networks, as well as arrangement).

Professional land developers specialize in a full range of services, choosing consulting, marketing, legal services, project management or engineering as their main activity and outsourcing the rest of the services, and rarely build on the entire plot of land. They carry out engineering preparation of the land, a planning project, and then they sell small plots of land in lots to other developers.

The concept of land development requires an investment project in the team professional lawyers, since many issues related to land legislation are still open to ambiguity. If there are restrictions on the site, the task of the specialist is to offer the simplest and most financially justified way to overcome them.

A possible option for the development of a land plot is selected based on an understanding of all segments of the real estate market, both residential and commercial. Insofar as existing restrictions can significantly narrow the choice of the most effective options for the concept, it is necessary to determine the following parameters from the very beginning:

• Availability legal restrictions for the use of the land;
• technical requirements;
• built-up area;
• built-up area.

The concept of land development is necessary for considering various options for the development of land plots and choosing the most optimal one. The concept should answer the following questions:

• how the land can be improved or modernized;
• what will be its functional purpose;
• what should be the consumer properties of the land;
• what profit the land plot can bring to the investor.

The preparation and development of the concept of land development is based on a thorough market research and forecast of its development trends. In addition, the concept includes:

• analysis of the resource quality of a land plot: location and adjacent territory, pedestrian and transport accessibility;
• prospects for the development of the region;
• definition of target groups of consumers;
• choice the best option land development;
• formation of the profile and composition of tenants;
• development of a landscape concept;
• development of land plot infrastructure;
• analysis investment payback project;
• format and positioning of the object in the market;
• development of a management development strategy;
• development of a sales policy.

Land development implies the process of disaggregation of land into separate land plots. It consists of a set of legal and technical operations aimed at preparing land for subsequent stages of development, ultimately aimed at completing specific investment projects.

In other words, the concept of "land development" can be defined as a service to eliminate the potential risks of investment projects with land.

In the future, the influence of land development on the development and strengthening of the land market in Russia should increase due to the profitability of this business. There is a very large and growing demand for land throughout Russia. Thus, the concept of land development has become widespread in the real estate market. Under her influence, the land market

acquires a rapid pace of expansion, there is a development and

disaggregation of a large area Russian Federation. but

the implementation of this activity has a wide range of problems related to

primarily due to the lack of a clearly developed mechanism for managing

this activity at the municipal and state level,

the resolution of which will achieve self-sufficiency

objects of investment and development of the land market in Russia.

Bibliography:

1. Investments: textbook / Financial Academy under the Government of the Russian Federation / ed. prof. N.I. Lakhmetkina. M.: Knorus, 2009. S. 56.
2. Rogatnev Yu.M., Kuznetsov I.V. Land development in the system of development of a single real estate object / Land management, cadastre and land monitoring. 2010. No. 5. S. 44.
3. A. N. Asaul, S. N. Ivanov, M. K. Starovoitov / Real Estate Economics / Textbook for universities. — 3rd ed., corrected. - St. Petersburg: ANO "IPEV", 2009. -304 p.

What is land development, what stages does it include and what is the final result of this process - Skladman USG experts talk about this and much more.

The main task of land development is to prepare the land for the start of the construction process. In the realities of the market, this means for owners an increase in liquidity and investment attractiveness of territories, for buyers - a convenient and quick launch of the project. It is undesirable for developers to get involved in the legal process of transferring land into the right category. Also important point is a well-developed ability to connect to networks and, in general, to determine the availability of engineering infrastructure on this moment and in perspective.

“Land development is a powerful factor that increases the capitalization of the site, as well as reduces the risks of subsequent implementation of the development project. Let's imagine land plots with commercial real estate - it is difficult to sell any non-residential premises while the object has not yet been built. It is the same with the plot: without preliminary preparation, it is difficult to sell unprepared land plots - offers hang for years, periodically changing the price depending on the exchange rate. It is necessary to reconsider the concept of selling plots and build a database of not just land masses, but a database of plots with preliminary preparation for sale. All that remains is to make a choice: to become a part of numerous similar offers or a development project that speaks for itself,” says Yaroslav Darusenkov, Head of Consulting, Skladman USG.

Ideally, the end result of land development is a site that is completely ready for construction from a physical and legal point of view. In fact, land development of a site can be anything that increases its liquidity and improves investment characteristics.

Taking into account the peculiarities of the Moscow market, land development will be any “improvement” or preparation that allows you to bring the project launch date closer. This may be, for example, the transfer of land from one category to another.

After preparing the territory for each of the above directions, it is possible to divide the site into lots for sale according to the developed concept of its development.

The consulting part of the work involves the development of an optimal concept in terms of the development of residential and / or commercial real estate, taking into account the following factors:

• legal restrictions on the use of the site;
• resource potential of the site (area, configuration, topography and surface); possible building area; the situation on the real estate market - the choice of the most promising areas of development (analysis of the best use of the site);
• positive financial and economic return of the project according to the developed concept.

In fact, consulting work makes it possible to determine the potential range of interested parties for the site (both developers and end users). At the same time, the developed concept makes it possible to analyze the profit margin of a potential investor.

Another important property of land development is to reduce the risks of an investment project.

It is important to understand that at the preliminary stage it will not be possible to fully take into account all the risks in the subsequent work on the implementation of the project. At the same time, the task of land development is to present and analyze the big picture.

In fact, land development of a site can be anything that increases its liquidity and improves investment characteristics.

Nikolay Palichev, general manager, partner of Up Group USG: “Land development is a factor that increases the capitalization of the site, as well as its value. Plus, it reduces the risks of the subsequent potential implementation of a development project.”

To achieve these results, it is necessary to “work out” the site from three different sides:

• analyze its most effective use and develop a development concept (project TEPs, pricing, implementation strategy, etc.);
• prepare documents for the land plot, if necessary - to change its category and VRI;
• work out the issue with the engineering infrastructure (as a rule, obtaining technical specifications), as well as provide access roads to the site.

To implement these tasks, the owner is recommended to assemble a team of specialists in such areas as: consulting, legal services, marketing, design, engineering training.

An indicative list of specialists who will need to be involved is as follows: engineers, surveyors, economists, analysts, marketers, geologists, environmentalists, cadastral engineers, lawyers, developers, designers, builders, financiers, lenders, appraisers, etc.

In the context of the crisis, a reduced level of effective demand and the absence of a speculative nature of transactions in the land market, land development becomes an obligatory component when selling a plot for construction. Given the current situation on the market, it also often becomes the only opportunity to sell the site.

Among the new trends in the real estate market, one can single out new requirements as part of the approval of development projects in the administration of the Moscow Region. Now very often the developer must justify the usefulness of his project for the location (infrastructure improvement, job creation, future tax deductions).

As the analysis of land proposals showed, in most cases, construction of engineering infrastructure was not carried out on the land offered for sale. Most often, there are only obligations of the owner to the buyer of the site regarding the construction of networks in the future and the provision of a connection to them.

The article was prepared by Skladman USG specialists