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How can you ensure real estate projects are profitable for your organization?

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Real estate projects are a major investment for any organization, but they can also generate significant value and returns if managed properly. Facility management (FM) plays a crucial role in ensuring that real estate projects are profitable, from planning and design to construction and operation. In this article, you will learn how to apply some key principles and practices of real estate finance and budgeting for FM, and how to measure and improve the performance of your projects.

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Mohamed Saed

Deputy Director- Assets managment, Shopping Malls at Talaat Moustafa Group Holding- Certified Mall manager, MBA, PMP -…

1 Align your projects with your strategic goals

Before you start any real estate project, you need to have a clear vision of what you want to achieve and how it aligns with your organizational goals and values. You need to assess the feasibility, viability, and desirability of your project, and identify the risks and opportunities involved. You also need to define the scope, schedule, and budget of your project, and establish the roles and responsibilities of your team and stakeholders. By aligning your projects with your strategic goals, you can ensure that they deliver value and benefits for your organization and its users.

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Mohamed Saed

Deputy Director- Assets managment, Shopping Malls at Talaat Moustafa Group Holding- Certified Mall manager, MBA, PMP - soft skills trainer
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In my experience building strategic goals and achieving them is all about understanding your market , your clients needs , existing risk and future changes, having accurate historical performance data and market trends will help you understand and anticipate future change , hence setting proper plan in term of short term achievable objectives & long term achievable objectives.

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2 Optimize your project costs and revenues

One of the main challenges of real estate projects is to balance the costs and revenues involved, and to optimize them for maximum profitability. You need to have a realistic and accurate estimate of your project costs, including land acquisition, design, construction, financing, operation, and maintenance. You also need to have a reliable and consistent source of revenue, either from selling, leasing, or renting your property, or from generating savings, efficiencies, or productivity gains. You need to monitor and control your project costs and revenues throughout the project lifecycle, and adjust them as needed to meet your financial objectives.

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Ceasar III Pimentel

Corporate Legal Counsel/Consultant/Oversight Executive
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Adjustments in terms of financial projections will always be a part of real estate profitability. The best approach is to anticipate slow down in sales, inflationary impact on building materials and most commonly design changes due to market pressure. None of those mentioned above will impact profitability if contingencies are in place.

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3 Evaluate your project performance and value

Another key aspect of real estate finance and budgeting for FM is to evaluate the performance and value of your projects, both during and after completion. You need to have a set of criteria and indicators that measure the quality, efficiency, sustainability, and impact of your projects, and compare them with your expectations and benchmarks. You also need to have a method of calculating the return on investment (ROI) and the net present value (NPV) of your projects, and compare them with the opportunity cost and the risk premium. By evaluating your project performance and value, you can identify the strengths and weaknesses of your projects, and learn from your successes and failures.

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4 Implement best practices and standards

To ensure that your real estate projects are profitable, you also need to follow some best practices and standards that guide your decision-making and actions. You need to adopt a systematic and structured approach to project management, using tools and techniques such as project charter, work breakdown structure, critical path method, and earned value management. You also need to comply with the relevant laws, regulations, codes, and ethics that govern your industry and profession, and adhere to the principles of social responsibility and environmental stewardship. By implementing best practices and standards, you can enhance the quality and credibility of your projects, and avoid potential pitfalls and liabilities.

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5 Leverage technology and innovation

Finally, you can increase the profitability of your real estate projects by leveraging technology and innovation that can improve your processes and outcomes. You can use software and applications that can help you plan, design, monitor, and control your projects, such as building information modeling (BIM), geographic information systems (GIS), and computer-aided facility management (CAFM). You can also use smart and green technologies that can reduce your energy consumption, carbon footprint, and operational costs, such as solar panels, LED lighting, and smart sensors. By leveraging technology and innovation, you can create more efficient and sustainable real estate projects that can meet the changing needs and demands of your organization and its users.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you ensure real estate projects are profitable for your organization?

1

2

3

4

5

6

1 Align your projects with your strategic goals

2 Optimize your project costs and revenues

3 Evaluate your project performance and value

4 Implement best practices and standards

5 Leverage technology and innovation

6 Here’s what else to consider

Facility Management (FM)

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How can you ensure real estate projects are profitable for your organization?

1

2

3

4

5

6

1 Align your projects with your strategic goals

2 Optimize your project costs and revenues

3 Evaluate your project performance and value

4 Implement best practices and standards

5 Leverage technology and innovation

6 Here’s what else to consider

Facility Management (FM)

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