Through this subject, I have learnt to understand the basic principles of economics and how it affect the real world of construction, especially the whole process of property development.
Mr. Ho, one of my lecturer who is an experienced contractor and claim consultant in the industry, has taught us what is the property development, roles and contribution of the construction industry to the national economy. He also taught us various techniques of development appraisal and source of finance available. His teaching method is interesting as he always tell us what happened in the real industry, some might be funny and some might be surprising. His real life experience always "open my eyes".
Ms. Dianne, a caring and lovely lady, who taught us the process of market analysis and also basic market research concepts. This knowledge can benefits us in the future if we are to venture into the development sector as we are able to analyse the market through its concepts. . I have to say sorry for this lecturer because I always dissapoint her by forgeting to do my tutorial question. Anyway, I can see she is a good lecturer as she try to remember every student name and have more interaction with students.
In this subject, we were given an assignment on preparing a financial appraisal and cash flow for a development. From this assignment, we learned how to use the residue method of Valuation and the steps on preparing a cash flow, the picture below shows the cash flow we prepared for our assignment.
This subject has helped me gain a lot of knowledge regarding development economics in the industry, which allows me to estimate and forecast a project's viability
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