Question for Experienced Developers/Analysts

3 Replies

Hello, Bigger Pockets Community!

I am working on a mock real estate development project submission, and I am looking for some general rules of thumb on how best to estimate the following:

1.  Demolition, site preparation time and costs.  The existing site is a 60,000 square foot, 20-story building on Hong Kong Island.

2.  Construction Length of Time.  We are planning construction of two 24-story towers with a total construction floor area of 70,000 square feet over a two year period.  I looked into other projects recently built by a developer we would like to recommend and determined they typically complete projects of similar size and type inside of two years.

I understand many variables can affect both demolition and construction time, but I am only looking for a general rule I could apply in the absence of reliably sourced data.

Thanks for your time!

  

not to sound SNARKY but this cracks me up.... how would anyone on Bigger pockets be able to answer this.. I have not seen any Hong Kong developers on this site ... mainly folks on here are looking for buy and hold and 200 a month cash flow.

I would look to other websites were you might find high rise developers.. not there may not be a few trolling this site but I would say that's a rare case..

If this was something I was looking at I would be contacting hong kong developers.. I went over there a few years back and was able to get appointments with folks within days of my arrival very business oriented area and willing to listen.. unlike US were it would be near impossible to make the same contacts as quickly.

Originally posted by @Jay Hinrichs :

not to sound SNARKY but this cracks me up.... how would anyone on Bigger pockets be able to answer this.. I have not seen any Hong Kong developers on this site ... mainly folks on here are looking for buy and hold and 200 a month cash flow.

I would look to other websites were you might find high rise developers.. not there may not be a few trolling this site but I would say that's a rare case..

If this was something I was looking at I would be contacting hong kong developers.. I went over there a few years back and was able to get appointments with folks within days of my arrival very business oriented area and willing to listen.. unlike US were it would be near impossible to make the same contacts as quickly.

 I'm a cross border real estate attorney with clients in HK. I have not come across this type of project either!

Try to look at publicly traded real estate developers, they may disclose some similar project budgets, but be aware that doing a project of that scale requires and lot of political connection which may increase or decrease your cost.