Forton delivered an in-depth strategic feasibility study of an ongoing mixed-use project in the southern city of Gevgelija with 10.781 sqm of TBA. The task included a detailed and customized research of the local residential market to identify key indicators of the market absorption, and to provide a realistic financial scenario.
This first time development for the client presented a project with several uncertainties considering the latent local market movement and the experience of the developer. The owner of the project sought to engage a reputable real estate consultant to perform a detailed research and analysis of all the necessary input factors to determine the realistic profitability scenario and propose further actions.
To be able to provide a comprehensive analysis, Forton undertook an in-depth inspection, in order to assess its current status and to consider the factors which impact the potential performance of the property, such as location, concept, accessibility, visibility, etc. Reflecting the extensive market research, we also prepared a market analysis detailing the supply, demand, major competitors and pipeline projects which would impact the performance of the property and the potential for further development of the land.
Forton delivered a plethora of scenarios enabling a prudent and informed decision to compose a detailed proposal for co-investment with a specialized developer for the residential part of the concept to allow the owner to focus on its core business in the retail part of the project – supermarket, therefore maximizing its potential profitability.