Property developer
The property developer is an offerer of built spaces or to build.
Nowadays, it is him which initiates the process of the offers new in real estate. Its expertise, its knowledge of opportunities on the side of the request and its control of the resource first, the ground, make of it the major agent of the Real estate market, that which is used as intermediary obliged between the other actors (especially users of space, the financial ones and regulatory authorities).
The majority of the property developers are small companies directed by former lawyers or real brokers. They have few employees and little investment, but they have the capacity to find the financing necessary near the banking institutions. The easy financing term, and thus on starting of a new project, depends on the state of the Real estate market of the moment in the category of projected space and of financial solidity of the potential tenants that the promoter unearthed. The promoter must prove a level of Pre-hiring judged sufficient by the lenders for the type of building and market in question in order to minimize the risk of a new construction.
The term of property developer was invented in 1954 in the entourage of Fernand Pouillon to indicate what one called before of the “ assemblers of businesses immobilières ”. Intense the Construction of Housing S supported by the government of then and the Real estate speculation which accompanied it devoted the character and the term.
Article 1831-1 of the civil code describes thus the function of property developer: “mandate of shared interest by which a person known as “property developer” obliges towards the Master of a work to make proceed, for an agreed price, by means of contracts for services, with the realization of a construction schedule of one or several buildings like proceeding itself or making proceed, with the help of a remuneration agreed upon, with whole or part of the legal, administrative and financial operations contributing to the same object”. The promoter can be a natural person or morals.
The large French promoters are for example Bouygues Immobilier, Nexity, Capri or Miller. They have all their own site almost, but of the sites launched out in the aggregation of the programs of several promoters.
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