Construction developers can be just project owners — or both the owner and contractor of a development project. In either capacity, a developer has certain obligations that need to be spelled out clearly in the contract documents. If this is done, the probability of a successful completion of the project is enhanced. If the initial step is omitted, the chances of delay and conflict are increased.
In the construction industry, a developer is usually considered to be a person who develops land through construction and who, to this end, becomes an owner of the developed land. The developer seeks a profit from development of the land, either by selling a development, such as a tract of residential homes, a shopping mall, or an office building, or by holding the developed property to reap a return on the investment.
