Types of Construction Projects

1. Building construction
2. Heavy/civil construction
3. Industrial construction

Each type of construction project requires a unique team to plan, design, construct, and maintain the project.

Building construction
Building construction for several apartment blocks. The blue material is insulation cladding, which will be covered later.
A large unfinished building.
Scenic view of the construction of the Havelock City Project in Sri Lanka.
Scenic view of the construction of Phase-1 of the Havelock City Project in Sri Lanka.

Building construction is the process of adding structure to real property. The vast majority of building construction projects are small renovations, such as addition of a room, or renovation of a bathroom. Often, the owner of the property acts as laborer, paymaster, and design team for the entire project. However, all building construction projects include some elements in common - design, financial, and legal considerations. Many projects of varying sizes reach undesirable end results, such as structural collapse, cost overruns, and/or litigation reason, those with experience in the field make detailed plans and maintain careful oversight during the project to ensure a positive outcome.

Building construction is procured privately or publicly utilizing various delivery methodologies, including hard bid, negotiated price, traditional, management contracting, construction management-at-risk, design & build and design-build bridging.

Residential construction practices, technologies, and resources must conform to local building authority regulations and codes of practice. Materials readily available in the area generally dictate the construction materials used (e.g. brick versus stone, versus timber). Cost of construction on a per square metre (or per square foot) basis for houses can vary dramatically based on site conditions, local regulations, economies of scale (custom designed homes are always more expensive to build) and the availability of skilled tradespeople. As residential (as well as all other types of construction) can generate a lot of waste, careful planning again is needed here.

The most popular method of residential construction in the United States is wood framed construction. As efficiency codes have come into effect in recent years, new construction technologies and methods have emerged. University Construction Management departments are on the cutting edge of the newest methods of construction intended to improve efficiency, performance and reduce construction waste.

Building construction is the process of adding structure to real property. The vast majority of building construction projects is small renovations, such as addition of a room, or renovation of a bathroom. Often, the owner of the property acts as laborer, paymaster, and design team for the entire project. However, all building construction projects include some elements in common - design, financial, and legal considerations. Many projects of varying sizes reach undesirable end results, such as structural collapse, cost overruns, and/or litigation reason; those with experience in the field make detailed plans and maintain careful oversight during the project to ensure a positive outcome.

Building construction is produced privately or publicly utilizing various delivery methodologies including hard-bid, negotiated price, traditional management-at-risk design build and design build bridging

Industrial construction
Industrial construction, though a relatively small part of the entire construction industry, is a very important component. Owners of these projects are usually large, for-profit, industrial corporations. These corporations can be found in such industries as medicine, petroleum, chemical, power generation, manufacturing, etc. Processes in these industries require highly specialized expertise in planning, design, and construction. As in building and heavy/highway construction, this type of construction requires a team of individuals to ensure a successful project.

Business sector

With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:




* Appraisal: Professional valuation services
* Brokerages: A fee charged by the mediator who facilitates a real estate transaction between the two parties.
* Development: Improving land for use by adding or replacing buildings
* Property management: Managing a property for its owner(s)
* Real estate marketing: Managing the sales side of the property business
* Real estate investing: Managing the investment of real estate
* Relocation services: Relocating people or business to a different country
* Corporate Real Estate: Managing the real estate held by a corporation to support its core business—unlike managing the real estate held by an investor to generate income

Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate.

"Internet Real Estate" is a term coined by the internet investment community relating to ownership of domain names and the similarities between high quality internet domain names and real-world, prime real estate.

Real Estate Legal Advisory

real estate legal advisory division provides credible legal support on real estate transactions, title issues, disputes, investment, including loan approval, financing and property valuation, with commendable speed and accuracy of information.

Our real estate advisory services offer the legal assistance to fulfill legal requirements in/during title searches and abstracts, title insurance, preparation of closing documents, real estate settlements, title insurance, document research, title examinations evaluating real estate ownership, checking ownership rights and third party claims to property.

Our real estate lease advisors assist clients with lease drafting, lease renewals and restructuring, thus protecting and enhancing their position. Also when clients' businesses are being sold or acquired, due diligence exercises involve legal requirements. We carry out technical and initial legal due diligence and contract documentation of M.O.U. and Sale/Lease Agreement.

legal advisory services for real estate include a variety of litigation support services informed by our knowledge of real estate and legal insight. We provide legal support for any real estate transaction including safeguarding the client's interests during rental contract termination, return of the security deposit (according to the contract terms), and protecting their interests in case of disputes arising in the course of landlord and tenant relationship.

Apart from property related legal work relating to acquisitions, rent reviews, valuations and development feasibilities, IGRMTM real estate legal advisory also negotiate rent reviews and lease renewals for all types of commercial property. We take on the responsibility for co-coordinating disposals right from conception to legal completion, which is quite an intensive process.

Real Estate Development

Real Estate Development is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing building to the purchase of raw land and the sale of improve parcels to others. Developers are the coordinators of those activities, converting ideas on paper into real property. They create, imagine, fund, control and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate -- and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approvals and financing, build the structure, and lease, manage, and ultimately sell it.

Real Estate Service

The Real Estate Consultancy of Venus Properties, undertakes market and financial feasibility studies, and formulates the corporate and financing structures required to implement a development. These feasibility studies typically include all of the information needed by potential lenders and investors. The studies also include market data, design briefs, cost estimates, financing plans, profit and loss forecasts and cash flows.

Venus Properties also undertakes project planning and project management. As Consultants and Project Managers, Venus Properties takes care of the design supervision, the budgets, the cost-control, the schedule and the construction standards. Effectively, we act as the Owners' representative to ensure that the project is built on time, on budget and to the Owners' requirements.

Real Estate Investment

Real Estate Investment is now treated as a major case of capital budgeting by using state-of-the-art investment analysis which incorporates the future stream of income it may generate and the associated risk adjustments. It has been the highlight of the investment literature since the 1970’s when investment theorists extended techniques such as probability, time value of money and utility into its analysis.

Real estate is basically defined as immovable property such as land and everything permanently attached to it like buildings. Real property as opposed to personal or movable property is characterized by the right to transfer the title to the land whereas title to personal property can be retained. The investment in real estate essentially depends on the risks associated with it, that is to say, even if the venture succeeds when the future stream of income will accrue to the investor and the alternative investment opportunities. Real estate investment can be attractive if viewed as a business opportunity; it can generate rental income, using it as collateral to secure a loan for a business venture, to offset otherwise taxable income through cash savings on tax-deductible interest rate losses, or simply from the profits garnered from its resale. Notable, in this context is the gains reaped by real estate speculators who trade in real estate futures (by buying and selling purchase options).

Common examples of real estate investment are individuals owning multiple pieces of real estates one of which is his primary residence and others are occupied by tenants from where the rental income accrues. Real estate investment is also associated with appreciation in the value of property thereby having the potential for capital gains. Tax implications differ for real estate investment and residential real estates. Real estate investment is long term in nature and investment professionals routinely maintain that ones investment portfolio should have at least 5%-20% invested in real estate.

A Real Estate Investment Trust (REIT) is a corporation or body investing in real estate that has the property to reduce or eliminate corporate income taxes. In return, REIT’s are required to distribute 90% of their income among the investors. These incomes are often taxable. REIT’s provide a similar function as does Mutual Funds provide for stocks in the share market. The key statistics to study about the REIT’s are the NAV (Net Asset Value) and AFFO (Adjusted Funds From Operation).

The Indian Government is yet to introduce REIT’s in the country. The government and the SEBI (Securities and Exchange Board of India) are planning to bring in legislations for the smooth functioning of the real estate market in India. with Initial Public Offers (IPO’s) streaming in from various listed real estate companies, it will be the best time to have an REIT which can help capture the current boom in the real estate market.
REIT’s provide the opportunity to reap the benefits due to interests in the securitized real estate market. The best benefit that can accrue is the fast and easy liquidation of investments in the real estate market which can be observed in Japan which one of the few economies of Asia along with Hong Kong, Singapore, Malaysia and Taiwan to have REIT legislation in place. J-REIT securities are listed on the Tokyo Stock Exchange and most of the participants are domestic and foreign conglomerates.