Navigating a career in Real Estate Development – your choices…

If you’re navigating the crossroads of real estate development and project management careers, it’s crucial to understand the distinct paths available. Let’s delve into the three primary avenues: Client-Side Development, Private Equity/Investor Roles, and Consultancy.

Over the coming months we will be sitting down with leaders in each part of the eco-system to get their unique perspectives but in the meantime we have collated a summary of the potential benefits and drawbacks of each type of business and opportunity…

🏗️ Client-Side Development: The Frontline of Real Estate

This is often seen as the pinnacle in the property world. Being on the client side means you’re steering the ship—making key decisions, influencing design, and shaping the final product. It’s a role that offers a comprehensive view, from the initial concept to the finished building enabling you to build best in class wider teams and be the true “Quarterback” of the process that calls the plays and directs people towards the best possible end result.

However, it’s not without its challenges.

• Teams are typically lean, which can limit upward mobility unless someone moves on.
• Specialising in a particular asset type can make you an expert, but it might also narrow your exposure.
• And while the rewards can be substantial, the risks are higher—funding shifts or strategic changes can directly impact your role.

💼 Private Equity/Investor Roles: Strategic Oversight

Transitioning to the investor side places you in a more strategic position. You’re overseeing projects, ensuring they align with investment goals, and collaborating with a diverse team of professionals. The compensation is often attractive, with bonuses reflecting the high stakes involved and you often have a much clearer understanding of the “Why” behind a project from a financial return / Investor expectations point of view, you can then challenge the supply chain on that basis.

But be prepared for a demanding environment. The hours can be long, and the role is more about oversight than hands-on project management. It’s a shift from being in the trenches to guiding from above and some people can miss the detailed elements (design, construction, being on or around site etc).

🧰 Consultancy: Diverse Project Exposure

Consultancy offers a dynamic environment where you’re juggling multiple projects across various sectors. It’s a space that hones your adaptability, sharpens your project management skills, and broadens your industry knowledge. Career progression is often well-structured, providing clear milestones.

However, the nature of consultancy means you’re often at the mercy of client decisions and timelines. While you gain exposure to a variety of projects, you might have less control over outcomes compared to in-house roles.

Final Thoughts:

Each path offers unique experiences and challenges. Your choice should align with your career aspirations, preferred work style, and long-term goals. Whether you’re drawn to the hands-on nature of client-side roles, the strategic perspective of investor positions, or the diverse exposure consultancy offers, understanding these avenues will empower you to make informed decisions in your real estate career journey.