DEVELOPMENT ECONOMICS (QSB 60303)

Personal Information 

Name: Yvonne Lai Yee Vun
Student ID: 0304029
Date of Birth: 10th August 1992
Intake: July 2011
Semester: Semester 6, August 2014

General Content 

The module provides an overview of the process in a property development and factors that influence the development process. It focus on the various techniques of development appraisal and source of finance available. Lastly, the module concluded with the important of market research to the overall development process and its impact of research to the development.

Prerequisite: Development Economics
Credit Hours:  3
Instructors: Ho June Khai & Dianne Kok Hui Wei

Reflects

After the 14 weeks on the learning of this subject, I am more understanding on the basic principles of economics and the whole process of property development which is related to the real world of construction. Besides, I am able to calculate the developer's budget such as the total development cost and gross development value during the initial development process. On the other hand, I am able to classified various source of finance available in the construction industry and to outline the requirement in a quality market research. 

During this subject, we are assigned with a group assignment, with a group of 7 and together with the individual assignment stands 30% out of the overall result. It is indeed an interesting assignment as we require to come out with an analysis of the number of units for each type of houses that can be built for the proposed development project, a financial appraisal of the project using the Residue Method of Valuation and lastly a cash flow for the project based on "Sell-then-Build' concept. Besides, we also required to comment on the cash flow and viability of the project if it is based on a 'Build-then-Sell' concept. This assignment provides me the capability of discipline specific knowledge, where I am able to apply theories into practice. Furthermore, I believe that this module will provide me a life long learning and advance me in my career in the future when i graduate.

This subject is very challenging because development appraisal is not easy as it sounds. I had a hard time in studying this subject because it requires a very clear understanding for both theory and calculation before i can attempt the questions in the assignment and also the exam. Fortunately, I am very thankful to have two very helpful lecturers, Mr Ho June Khai and Sr. Kok Hui Wei to guide me throughout this whole semester.