Development appraisal & feasibility

    Real Estate Development Pro Forma

    A fully linked development model that connects land, programme, construction costs, financing, sales or lease-up and investor returns - so sponsors and lenders can see exactly what drives viability.

    From $2,000
    Contemporary high-rise development representing a development pro forma engagement
    Illustrative image.

    What is included

    A model built around the decision

    Monthly development programme and cash flow
    Land, professional fees, construction and contingency budget
    Construction debt draw, interest and repayment schedule
    Sales absorption or lease-up assumptions
    Levered and unlevered IRR, equity multiple and profit metrics
    Cost, timing, pricing and exit sensitivity tables

    Best suited to

    Typical mandates

    Ground-up residentialMixed-use schemesBuild-to-rentCommercial developmentValue-add and conversion projects

    How the engagement works

    1. 1Scope the development and decision
    2. 2Map sources, uses and programme
    3. 3Build monthly operating and financing logic
    4. 4Stress-test the key assumptions
    5. 5Walk through an unlocked Excel model

    Frequently asked questions

    Is this the same as a UK development appraisal?

    It covers the core appraisal logic but goes further: monthly cash flow, debt draws, tax or fee assumptions supplied by your advisers, scenario analysis and investor-level returns are linked in one auditable model.

    Can you model phased construction and sales?

    Yes. Phases can have separate start dates, cost curves, unit mixes, selling prices and absorption schedules while rolling into one project-level funding requirement.

    Can lenders audit the formulas?

    Yes. Models are delivered in unlocked Excel with clear assumptions, consistent formula conventions, checks and traceable outputs.

    Related work

    Case studies using this model type

    London · Development pro forma

    Luxury Residential Development

    A development pro forma for a high-end condominium scheme, structured to make cost, sales and partner-return assumptions transparent.

    Read case study

    Dubai · Mixed-use development

    Mixed-Use Development

    An integrated model for residential, retail and office components with shared costs, phased delivery and scenario analysis.

    Read case study

    Toronto · High-rise development

    Residential Tower Development

    A high-rise development model covering construction, sales, funding, profitability and partner returns.

    Read case study

    Further reading

    Discuss your real estate development pro forma

    Talk directly with a financial modelling consultant about your deal, model, or lender requirements.

    No obligation. You speak directly with the consultant who would build your model.

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