How Long Does Developing a Property Take?
The period to develop a property project is dependent upon the category of the development, size and complexity and the geographic location of the project. The development process may commence with identifying a development site and end with the leasing and sales of the completed built project. Various process may significantly delay the completion of a project, including securing the planning and building approvals, securing suitable project funding, challenging building conditions and sufficient sales and leasing commitment. Simple house alternations or extensions not requiring approval may take as little as four months from concept planning to completion, whilst a new regional shopping centre may take in excess of 10 years from site identification to opening to the public.