Development projects are the primary means of creating capital assets in the form of infrastructure and/or buildings. Development is a complex process that involves a number of discrete stages, multiple stakeholders, regulatory procedures and financial models. The Real Estate Development
module has a focus on agency theory as a means of understanding these relationships and their impact on the development process. Practitioners (Miles, et al., 2015 and Poorvu, 2008) comment on the benefits of understanding how to manage these stakeholders as agents within the development process. While academics have developed models to understand these role-based relationships (Adams & Tiesdell, 2013) and their implications on the real estate development process
(de Magalhaes, 2002).
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