Coworking space has become common in Singapore. If you have plans to invest and build the same infrastructure for your next business, you better hire the right real estate developer to help you get the job done right.
It is essential to make sure you thoroughly understand the project and the real estate developer’s credentials by making the necessary inquiries. Below are some of the questions that you might want to ask a real estate developer before hiring them for your coworking space project:
1. What is the developer’s track record?
It’s important to know what projects the real estate developer in Singapore has completed before and whether they have a history of delivering projects on time and within budget. You also have to ask about any awards or recognition they have received for their work. This information can give you an idea of the developer’s level of expertise and the quality of their past projects.
2. What is the developer’s financial plan?
This question will help you determine the developer’s financing plan for the project, including how much it will cost to build a coworking space building. Better not to forget to ask about any contingencies or fallback plans when there is a delay with the coworking space project or when they exceed the given budget.
3. Who are the team members?
Ask about the team members working on the coworking space project, including the real estate developer, architect, general contractor, and other key players. You also have to ask about their qualifications, years of experience in their respective fields, and any relevant certifications or licences they hold.
4. How will the project be marketed and sold?
Find out how the real estate developer plans to market and sell each unit of the coworking space building, including the target market, pricing, and sales strategy. That information can give you an idea of how successful the coworking space project will be and how fast it will sell out once out in the market as an office for rent in Singapore.
You can understand the real estate developer more from their qualities, how they hassle a coworking space project and their financial plan. Everything you will learn about them can help you weigh your options and make an informed decision on your real estate investment.
Contact Keppel Land, a leading building developer in Singapore, at (65) 6338 8111 or leave a message on their website if you are still looking for a real estate developer for your coworking space project.
