Valuation and Development Feasibility Studies
A feasibility study is the process for determining the viability of a proposed initiative or development. It will also evaluate the proposed project development to determine if it is technically feasible within the estimated cost and if it will be profitable. A Project Development Feasibility Analysis can determine if a project is worth the investment – in some cases, a project may not be viable. The valuation report will help reduce risks, forecast the investment required, manage timeline and take into consideration legal and regulatory approvals.
Project developers would require a project development feasibility assessment for a development project, this information may also be required by banking or lending institutions and the builder.
Whether it is a construction or renovation to a single residential dwelling, through to a large-scale land redevelopment and sub-division, JEC has experienced Chartered Surveyors who can estimate the complete value of a property development project at its completion. Using cutting edge software and technology our specialist teams will ensure that all relevant factors are considered in the overall end value, including undertaking a detailed review of the building plans, specifications, building tender/contract, planning approvals and market analysis and projections.
JEC’s quantity surveying and commercial valuation professionals provide clients with an informed, quality property development feasibility analysis report for internal or finance purposes.
Our open and consultative approach ensures key stakeholders are kept well informed throughout the valuation process, allowing sound and timely decisions to be made that will facilitate the best possible outcome for your development.
Quantity Surveying and Construction Cost Management
Our Quantity Surveyors are consulted at the outset of a development to provide cost estimates, feasibility studies and contractual and procurement advice for a proposed construction project. We prepare the tender documentation for the project, oversee the tendering process, advise on the selection of the tenderer, prepare the contract documentation and monitor costs during the construction period.
Quantity Surveyors are the financial managers of the client’s construction team who add value by effective cost management. Our cost management services are tailored to provide the highest degree of cost predictability and control keeping the project within budget from the initial design stages right through to its completion. Our services are widely used by private sector clients and the Cayman Islands Government.
Project and Development Monitoring
Project Monitoring is distinct from both Project Management and Construction Monitoring and can be defined as protecting the client's needs by identifying and advising on the risks associated with acquiring an interest in a development that is not under the client’s control.
Before banks agree to fund property developments, they must have a good understanding of the construction aspects of the project in order to weigh up the risks that might impact on their loans. When a development is underway it must be carefully monitored, with regular site visits made in order to pick up any key issues as they arise. We advise when costs can be drawn down against the loan facility and on the adequacy of the remaining undrawn loan to cover the forecast cost to completion.
Owners representative
Many end-users and stakeholders know what they need to have built to meet their needs, but lack the expertise in technical knowledge and administration resources to communicate these needs to the architects, engineers and constructors. An Owner’s Representative is essentially an extension of the owner’s staff managing the day to day operations of a project, acting as a single point of contact between designers, contractors and the owner. The Owner’s Representative aligns the project team with the owner’s priorities, and translates the course of the project design. With the owner’s representative acting as the owner’s “eyes and ears” on the project, the owner’s time is freed to concentrate on their core day to day business.
