Thread: Building Works – History

In real estate development the word building means any man-made structure used or intended for supporting or sheltering any use or continuous occupancy. Buildings serve several needs of society. Along with access to food and drinking water, the need for places that are protected from the outdoors and where one can comfortably live, work, eat, sleep, procreate or engage in leisurely activities has always been a top priority for humans. A building as a shelter represents a physical division of the human habitat into the inside a place of comfort and safety and the outside a place that at times may be harsh and harmful. Humans have a remarkable drive to reflect on their lives and express themselves through art.

The first shelter on Earth constructed by a relatively close ancestor to humans is believed to be built 500,000 years ago by an ancient ancestor of humans, Homo erectus. Over centuries, homes were technologically advancing. Some were simply inhabited caves, while others were made of dried mud or stone. In these times, there were little furnishings in these homes, besides perhaps a family altar or a table for eating. Before the invention of the lift, few buildings were higher than five stories. In the New World, the Anasazi built three- and four-story towers in the 12th and 13th centuries AD. When Elisha Otis invented the passenger elevator, buildings could be built much higher. Today, the Sears Tower has 108 stories.

Builders in Kerala acquire raw land, improved land, and/or redevelopable property in order to construct building projects. The buildings are then sold entirely or in part to others, or retained as assets to produce cash flow via rents and other means. Some building developers have their own internal departments for designing and constructing buildings, while others subcontract these parts of the work to third parties.

Although there are specific educational programs which are tailored to teaching real estate with an emphasis on development, or few universities that offer a Masters of Real Estate Development, most real estate developers enter the business from other professional areas. Most often, persons in related fields enter into real estate development via personal interest and opportunity, and then choose to make a career out of it if successful. An educational background in finance is typically a prerequisite for obtaining entry-level employment with an established development company, although many development company managers tend to come from architecture, construction, and related fields. Real estate development requires extensive and complex financing arrangements to be successful, as few people or organizations have the money to undertake development projects on their own.