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Real Estate News Releases
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(EstateNewsWire.com, July 17, 2018 ) Residential land development establishments service land and subdivide real property into lots, for subsequent sale to builders. Servicing of land may include excavation work for installation of roads and utility lines.
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The market was valued at $71 billion in 2017 and is expected to increase in demand for new buildings and heavy construction projects due to rapid urbanization in emerging markets owing to strong economic growth, rising disposable income, availability of credit at low interest rates, and changing consumer lifestyles preferences, development of new cities in emerging economies such as China and India.
Asia Pacific was the largest geographic region accounting for two-fifth of the market share due to the presence of a large number of construction companies serving a large customer base in countries such as China and India.
The market is split into segment: houses and housing estate developments and apartments and other residential developments.
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China was the largest country accounting for one-third of the market share. This is due to the presence of a large number of construction companies catering to a large customer base in the country. And it is followed by U.K and Japan.
The major competitors in the market are Barratt, Persimmon, Crest Nicholson, Miller and Wainhomes. Barratt Developments PLC engages in the house building and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs residential properties, such as apartments, penthouses, and communities; and develops and sells homes.
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