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Development Gate
Connecting milestone reviews with expenditure approvals.
The management process
Review rights and conditions
Review land or leasehold rights, the project entity, financing, permit status, conditions for proceeding and the treatment of unmet conditions.
Set the budget and schedule
Define design and construction contracts, payment terms, the programme, contingency, remaining cost to complete and criteria for approving changes.
Reconcile progress and expenditure
Reconcile stage-appropriate professional reviews, invoices, contracts, work completed, amounts paid and the remaining budget. Release expenditure only after the required approvals.
Address changes and shortfalls
Report delays and overruns. Follow contractual procedures when deciding on budget changes, payment suspension, contractor replacement, additional capital, postponement or termination.
Progress and funding reviews
| Stage | Key documents and reviews |
|---|---|
| Rights and conditions | Rights documentation, acquisition conditions, legal entities, offering terms, financing plans and permit status. |
| Design and commencement | Design documents, required permissions, construction contracts, the programme, budget and payment terms. |
| During construction | Contracts, invoices, professional reviews, work completed, amounts paid, remaining cost to complete, contingency and changes. |
| Completion and opening | Required inspections, permissions, handover, unfinished work and defects, operating agreements, pre-opening expenditure and working capital. |
Changes and suspension
Project contracts would define the independence and responsibilities of progress reviewers, supporting documents, payment retention, warranties, insurance and criteria for approving changes.
Where delays or overruns occur, report the causes, impacts, remaining cost to complete and financing options. Suspension and resumption of expenditure, additional funding and contractor changes follow contractual authorities and approval procedures.
MARAVION Realty Token · 2026.10.28