Montenegro and development process, an example
||Kostic, Marko; Glumac, Brano; Nikolic, Irena; Raskovic, Ivan
||Montenegro and development process, an example
||18th Annual European Real Estate Society Conference in Eindhoven, the Netherlands
||Real estate market in Montenegro provides a wide scope of the greenfield opportunities. Still it is not a rare case that developers start easily the land acquisition phase while having very high expectations without a thorough analysis and research. This kind of developers do not perceive the full capacity of the acquired land. Therefore, they often want to sell it instead of going further on with the following development phases. Our field of interest is questioning and analyzing the current development process and strategies in Montenegro. This paper explains an approach that helps developers to understand widely all the aspects and the complete potential that a greenfield projects could deliver. This approach has shown the significant increase on the overall project value in numerous cases. It concentrates on creating the flexible project in brief allowing multiple locations and potential to attract new developers. We selected three case studies to illustrate this approach. Montenegrin experience showed us the ways in better understanding how to use this approach for helping developers in faster and more structured way of making the decisions. This paper directs attention on the further research in providing the new tools for developers in Montenegro.
||development process, multiple case study, montenegro
||file.pdf (3,653,729 bytes)
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