Property Development
The Property Development Unit aims to maximising the returns on City owned land. Creation of high yielding property assets with a sustainable income stream. A large proportion of the City’s assets are vacant land with an inherently low asset value and associated low returns. By facilitating the development of well-located properties with high potential, a base of long-term recurring income will be created.
Property Development is the business of making improvements to land and buildings so that their end value exceeds initial value in such a way that returns are maximised.
Delivery Impact
- Development of “inclusionary commercial development.
- Value derived from unifying capital, current and major works projects.
- Planned development and budgeting as most projects are guided by the investment strategy and asset plans.
Understanding “Returns” of Public Land Development
- Financial/ Economic: Creation of high yielding property assets with a sustainable income stream. A large proportion of the City’s assets are vacant land with an inherently low asset value and associated low returns. By facilitating the development of well-located properties with high potential, a base of long-term recurring income will be created.
- Delivering on City Objectives: As per priorities identified in the SDBIPS
- Transforming the property industry: By empowering emerging developers and contractors, job creation, skills transfer and enterprise development