The Roles of 3 Key Participants in the Property Development Process In Research Paper

The Roles of 3 Key Participants in the Property Development Process In Australia - Research Paper Example Architects, property developers, and town planners here in Australia see the true picture of international partnership developed between these three key players in property development abroad and are now trying to implement them here. Despite differences, these players are working in unison to create world-class infrastructures. "The economic and demographic opportunities arising from demand for better and competitive infrastructures have driven developers and architects to forge an alliance that has shown tremendous success in places like Amsterdam, Hong Kong, London, Melbourne, Montreal, New York, and Tokyo. As architects and property developers break boundaries together, they are also beginning to transcend an established pattern of notorious and longstanding ill will. Property development has to be market driven and certainly not product driven. The architect can creatively add great value to the developers' commercial objectives by design. By working in tandem, an architect can achieve his architectural agenda at the same time." (Property Development and Progressive Architecture - The New Alliance, www.elx.com.au, referred on 4.27.2006)1 3.0 Property Developer This paper sets out to differentiate and highlight the similarities of the role, objective, priorities, and attitude held by Developers, Architects, and Statutory Environmental/Town Planners with respect to Property Development Process. "Developers convert undeveloped, under-developed land, or existing buildings to satisfy market demands, using their entrepreneurial skills. Like all other entrepreneurs, developers expect, rightfully, to receive an appropriate rate of remuneration for their skill and risk involved in the particular development work. Sadly, a majority of property developers, who possess the genuine skill, expertise, a sound sense of social responsibility, and most of all, pride in their work, do not receive the publicity which they deserve. Peoples' real estate needs are met through the operation of various kinds of differing property markets in Australian society. These different types of markets can be categorized principally by way of location, size and usage criteria.