This stage is the most significant stage in the work of the real estate developer, as the vast majority of services needed during the development process are in this stage. Moreover, the real estate developer is required to benefit from the services provided by most of the entities participating in such a process.
The stage of the real estate development is divided into several sub-phases; each of which includes a series of services to be completed by the real estate developer. These steps are summarized in three phases; the first phase is the master plan approval. This is a key stage as the real estate developer cannot begin construction works without having it completed beforehand; as such completion is an initial approval on project's master plan from the different licensing authorities.
The second stage is the issuance of the building permit and the completion certificate; where the real estate developer completes the construction, building works and the infrastructure of the project to obtaining the project completion certificate.
Followed by the third stage of sale/ marketing conducted in conjunction with the construction stage in case of Off-Plan Sale or after the completion of the construction works of the project.