The Real Estate Development Dilemma In Urban Areas For Developing Nations

The real estate development, just like other business or professional decision, there are instances where the participants ought to choose between alternatives. Occasionally, the choice are likely to be sound whereby a right answer is clearly distinct from a wrong once. However there are circumstances where available choices for the property developers are difficult to make leaving one in a real estate development dilemma. This is a situation where no matter which alternative is selected, there is likely to be a subordinate one or more to the choices made. In real estate development within the developing nations, there comes a time where all the options presented may be all right or all wrong. There are a number of land use management challenges within urban area arising from weak enforcement and non-compliance in property development and housing deficit for low and middle-class population. This has allowed the private investment and urban growth of high-rise residential and commercial developments. There is also deterioration in the urban environments characterized by flooding; loss of trees and green spaces, with the green fields and vegetation being transformed into brownfields. The overall objective of real estate development is to add value to existing property. The property developer aims to increase the property value in order to earn returns, however the decisions have to be made for optimal returns. This is achieved by either increasing the size of the property or varying the users. Therefore this paper shall explore several sources of dilemmas within the property development. It will also interrogate the dilemma arising from the real estate development within sustainable urban environment. It will also interrogate the dilemma in land administration and management through the demand-led approach and infrastructure-led approach of real estate development. Lastly the paper also discusses the ethical dilemmas in real estate development and practices. This paper shall provide knowledge to the real estate developers on the expected risks while investing in the real estate within the developing countries. It shall also expound on ethical issues in the real estate development.