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Research Article

EEO. 2021; 20(5): 6228-6234


The Conceptual Framework of Real Estate Developer

Zeena Ghanim Younis Al-Ubaidi, DalyaSaleh Ghazi.




Abstract

Everywhere nowadays, a real estate developer occupies an essential role in achieving progress of countries in the various fields of urban development, commerce and industry whether in establishing new projects and rebuilding or renewing the already existing enterprises. He is indeed any person who has the conditions that qualify him to perform the profession of real estate development. An example of these conditions are eligibility, financial ability, experience, expertise and other conditions, which contribute in creating a safe environment for those who deal with real estate developers and protects from them deceit and treachery. Meanwhile, such safe environment shall enable the real estate developer to do his job properly as he is the one who is responsible for supervising, administering and controlling the developmental projects. Besides, he is the person who is in charge through the whole process of coordinating all issues between the related parties. It is remarkable to note that a real estate developer does not carry out the physical part of the project, which is often implemented by contractors neither does he finalize the engineering designs, plans and drawings of the enterprise, that are done by architects. A real estate developer, however, is the one who is responsible for administering and controlling the implementation process of the project from the start to the end until it is delivered to its owners. Accordingly, it has become quite necessary to investigate the issue of the real estate developer due to a number of factors, such as the critical situation of housing in general, increase of blighted areas as well as the devastation and destruction that have stricken our beloved cities, including Mosul Governorate. There are what we may call emergent requirements for building and renewing these cities through the familiar undertaken developmental activities as well as other types of sales related to the real estate developer, such as map sale, design sale and right conservation sale. For this and more, we have selected this issue to be the core topic of our current research. We should also keep in our mind that the Iraqi legislator has not been serious in dealing with the various regulations of the real estate developer, and just referring to them here and there with very minor and simple texts. In the Iraqi Investment Law No. 13 for the year 2006, amended by the Law No. 50 of 2012. We finally hope that we could have some positive role in establishing and issuing sound legal regulations for the real estate developer.

Key words: Conceptual Framework, Real Estate Developer, Legal Regulations






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