Real estate development is a process, including activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Developers coordinate all of these activities, converting ideas from paper to real property. Real development is different from construction, although many developers also manage the construction process. Developers buy land, finance real estate deals, build projects, create, imagine, control, and orchestrate the process of development from beginning to end.
Types Of Real Estate Development
Residential
Residential real estate includes both new construction and resale homes. The most common category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, and vacation homes. Here’s more on residential real estate.
Currently, Metropolitan Real estate has one luxury and one standard apartment. The luxury apartment, Central Tower Luxury Apartments, is around AU headquarters. Westview Standard Apartments, are located at Total Soset kuter Mazoriya.
Commercial
Commercial real estate includes shopping centers and strip malls, medical and educational buildings, hotels, and offices. Apartment buildings are often considered commercial, even though they are used for residences. That’s because they are owned to produce income.
Industrial
Industrial real estate includes manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage, and distribution of goods. Some buildings that distribute goods are considered commercial real estate. The classification is important because zoning, construction, and sales are handled differently.
Land
Land includes vacant land, working farms, and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision, and site assembly.
Metropolitan is a developer involved in both residential and commercial real estate development.
Metropolitan real estate PLC, is an American-owned Real estate building company, building quality homes in Ethiopia to fulfill the needs of luxury real estate for sale in Addis Ababa and all of Ethiopia.
Let us connect today, on Metropolitan Real estate, which has multiple ongoing projects such as Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments located at Total Soset kuter Mazoriya. If you are ready to begin your journey on the way to becoming a homeowner, please contact us with the Ethiopian office: +251973404040 and USA office: +1 480 280 2242.
