Investment process and construction cost
1) ZONING
- Located in residential areas
- Located in hotel or organised acommodation zone (hotels, dormitories etc)
2) CONSTRUCTION PERMIT AND OTHER PROCEDURES
- Identical with residential projects
3) COOPERATION WITH FUNDS/OPERATORS
- Majority of resi developers is not prepared for cooperation (used to deal with individuals
- Contracts with clauses securing approval of design, quality, control during construction
- Original design and solutions not accepted by funds, numerous changes
4) DESIGN
- Core&shell identical with residential projects
- Additional design of rented units, common areas, often done by an independent architect
5) CONSTRUCTION
- Core&shell identical with residential projects
- After completion of main construction proces, additional time required for fit outs
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