Savills International Development Services Specialising in residential, mixed-use and resort communities
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Savills International Development Services Specialising in residential, mixed-use and resort communities savills.com
Contents
01
Savills
03
Development Services
Savills Background & Business 04 Development Consultancy 08
Our Expertise 05 Design Development Consultancy 09
Development Consultancy Process 10
Development Management 12
Sales Consultancy 12
Marketing Strategy 13
Sales Advice and Expertise 13
02
International Residential
04
Case Studies
and Resorts
Al Khobar Tower, Saudi Arabia 14
Group Structure 06 Yingde Farm, China 15
The Development Services Process 07 Vista Palace, Côte d’Azur, France 15
Lustica Peninsula, Montenegro 16
Olympic Village, London, UK 17
Porto Montenegro, Montenegro 17
Sveti Marko Island, Montenegro 18
Aphrodite Hills Golf Resort, Cyprus 19
Quinta do Lago Golf Resort, Portugal 19
05
The Core Team
07
Savills International
The Core Team 20 Africa 22
America 22
Asia Pacific 22
Europe 23
Middle East 23
UK 23
06
Professional Partners
Professional Partners 21
01 Our Expertise
savills Savills gives clients access to real
estate expertise of the highest
calibre, across the Americas,
Europe, Russia, Asia Pacific,
Africa and the Middle East.
Everyone at Savills works hard to
Savills Background exceed clients’ expectations. We
& Business provide honest and professional
advice with a spirit that is always
fresh and productive.
We believe each instruction is Our values encompass:
special. No matter how large or Our broad range of clients and our ability
small the project we provide the YY Robust leadership and management to recognise and respond to changing
same quality of service, which market needs has put us in a very
YY Constant clear communication
is intended to exceed your influential position throughout the property
aspirations of quality and delivery. YY Pioneering with experience world. Our distinctive collegiate culture
and highly motivated staff ensure that we
Our objective on international resorts is to Savills is one of the world’s leading are committed to getting the very best
help you create a world-class destination property advisers, comprising outstanding results for our clients – every time.
that will be achievable and financially individuals who have real expertise
successful. Our approach is to provide Aside from resort development, our
and passion for what they do. Our
uncompromising attention to detail and services cover the whole range of
international perspective, strong track
robust development management, taking property needs. Along with acquisition
record with world-class clients and
on responsibility and driving the project and disposal, we offer building and
dedication to excellent service ensure that
to meet your aims. To achieve this, every project consultancy, landlord and tenant
we lead as a property services company,
project is managed by an experienced representation, rating consultation,
on a global scale and in local markets.
director who will remain with the project valuations advice, capital allowance
from inception to completion and will be This powerful combination also advice, strategic projects and research.
available for any follow-ups. allows us to deliver continued growth.
Founded in 1851, Savills has a rich
All of our team members are passionate heritage. It is listed on the London
about creating resorts that meet Stock Exchange and has over 500
international criteria and can be offices and associates worldwide.
successfully marketed. The hallmark The company employs 23,000 people.
of Savills service is our proven track Savills has been ranked the best
record of integrating the knowledge Business Superbrand in the real estate
of the market-facing consultants with sector by the Centre for Brand Analysis.
the expertise of the technically minded
development management team to
achieve the best commercial outcomes.
04. Savills International Development Services
We also have departments that deal with specialised areas such as new homes development, leisure and hotels, institutional property, offices, retail and planning, as well as residential development and investment. We are regarded as an innovative organisation backed up with tough negotiating skills. Savills chooses to focus on a defined set of clients, thereby offering a premium service to organisations with whom we share a common goal.
02
International Residential and Resorts
Group Structure community centres or sports facilities.
In larger residential communities, this
would also include environmental as
The International Development well as social infrastructure, for example
Services (IDS) team has unrivalled renewable energy initiatives, locally
experience with large-scale Building a Lifestyle sourced labour and materials, and local
residential, mixed-use and integrated Taking into account end-users’ demands, environmental conservation.
resort master-planned communities. we can advise on the type, mix and
The development concept and
location of the residential component of
community density is reflected not only in
Understanding the Buyer the development, as well as its relation
the ‘placemaking’ design of the physical
to adjoining land-uses, and how it should
We have a thorough understanding of space, but also in the market positioning
be orientated according to aspect and
global property demand dynamics. Our and perception of the operating brand.
topography from a demand perspective.
knowledge of target buyer markets, in Savills’ experience in the hospitality
terms of nationality, product and design Corresponding to residents’ and guests’ sector enables us to consult and secure
preferences, purchase motivations needs, we provide consulting services leading branded operators.
and budget, means we can advise throughout the development process,
on all aspects of the development on supporting amenities, facilities and
process, whilst taking into account services, whilst also considering social
how the product will be brought to the infrastructure requirements such as
market. This will contribute to ensuring schools, commercial premises, hospitals,
successful sales levels and consequently
higher investment returns.
06. Savills International Development Services
Savills’ experience in the hospitality
sector enables us to consult and
secure leading branded operators.
The Development Process and Our Services
Maximising Returns
All of these factors must be considered
in order to maximise the efficiency and
value return from the project. The more
desirable the on-site lifestyle is perceived
to be, the higher the value of the
residential real estate, and subsequently
the return on investment.
Therefore, our advice is focused on
drawing in buyers and guests to invest in
well-planned, intelligently designed and
socially responsible communities, thereby
ensuring the long-term commercial
viability of the entire development.
03
Development Services
Development
Consultancy
The IDS team is based in London
and has extensive experience
of development management,
marketing and selling all types of
international residential property,
from chalets in Switzerland, a
pied-a-terre in Paris to villas in the
Caribbean.
Members of the team speak a range of
languages including French, Spanish,
Portuguese, Italian, Russian, Croatian
and German. The team works closely Development Investment
with both the Savills worldwide offices Consultancy
and its network of 16 associate agents
around the world. YY Preparation of project investment
briefs
Our services are structured to assist
YY Approach to potential equity investors
clients across the following areas: Project Feasibility and lenders
Analysis
YY Project debt advisory (structuring,
Market Research arranging, refinancing of existing
YY Site assessment and analysis,
YY Knowledge of global residential including advice on land assembly loans)
demand characteristics and acquisition
YY Project equity raise, co-investors,
YY In-depth local market research, YY Concept and marketing positioning capital/asset management joint
specific to the project concept and ventures
positioning YY Development options viability (unit
mix, size, target market, phasing, YY Entity-level financing and investments
YY Analysis including demand and absorption and pricing)
supply dynamics (product, pricing,
buyer markets, buying motivation) YY Indicative development appraisals
and a review of the local market
development context (economic
and tourism profile) with impact (DCFs, IRR and NPV
on the residential market and Analysis) and Red Book
proposed projects Valuations
YY Project performance target
YY Development business plan, deal
structuring, consultancy on joint
venture and exit strategies
08. Savills International Development Services
Design
Development
Consultancy
Preparation of Project
Design Briefs Development
YY Assembly of core project and Management and
design team (master architect, cost Consultancy
consultant, construction manager,
engineers) YY Co-ordination of project team, acting
as client representative
YY Identification and alignment of project
parameters with target markets YY Concept value engineering and value
management
YY Inform the efficiency and profitability
of the scheme design through master YY Sustainable development solutions
planning, land use, product mix,
product sizing, pricing, phasing and YY Budgeting and control
delivery recommendations
YY Quality monitoring and progress
YY Ensure a socially responsible reports to client
and environmentally conscious
YY Value and risk management
development ethos
YY Secure planning approval and Hotels and Facility/Resort
managing of PR process Managers
YY Co-ordination and management of YY Sourcing of hotel operators
Strategic Environmental Assessments
(SEA) and Environmental Impact YY Negotiations with hotel operators
Assessments (EIA)
YY Management contract negotiation
YY Advice on resort and facilities
management
YY Commissioning and handover
The whole process is driven by YY Performance audit of existing resorts
innovative, top quality research
tailored to your individual needs
03
Development Services
As part of the development process we
test the appropriateness of the proposed
commercial uses to accompany the
residential uses ie. a traditional hotel
operation versus a serviced apartment
scheme, as well as the types of retail/
leisure uses that should accompany
such a development. We would look
to identify the likely demand, and from
which class of operators they originate.
Target market analysis
Once we have established the range
of values that are achievable and the
pricing dynamics in the area, we are
able to analyse the socio-economic
profile of the target purchasers for the
scheme, including:
YY International purchaser profile
Market review
YY It is important to establish from the
The next element is the analysis of the outset where external investment
national and regional market conditions is coming from and what type
and recent local market transactions and specification of product these
purchasers desire
(although potentially limited in number).
This stage is crucial in establishing the YY The specific pricing thresholds
Development current demand profile for new build
schemes, focusing on pricing thresholds
of residential sales for particular
nationalities identified
Consultancy and understanding market performance
YY Preferred sizes, specification and
and competition coming through
Process the pipeline going forward. With the
amenities associated with the
residential element of the scheme
combination of our international research
The first step when assessing team and our local partners’ knowledge
a site and beginning the of key schemes and transactional
consultancy service is to evidence, we are able to bring a truly
produce a comprehensive global approach to our market review,
consultancy report, covering: thereby reducing risk and adding value.
Site review
Conducting a detailed review of
the surrounding area, including a
comprehensive review of the locality and
adjacent land uses. This will also include
We are able to bring a truly
research into the style, standards, sizes
and specifications of the existing and global approach to our market
review, thereby reducing risk
forecast residential stock.
and adding value.
10. Savills International Development ServicesDevelopment strategy
YY Timescale: 2 – 3 weeks
Using the results of the analysis, we On the basis of the consultancy report,
work closely with masterplanners and it is important to work daily with all of
architects. This provides a set of clear the retained project team to produce
guidelines for the optimal unit sizing, a development strategy including
mix, specification and pricing of the programme timing, recommendations for
residential element of the scheme, in turn additional expert advice and analysis of
informing the product development. the likely funding requirements.
On behalf of the client we would prepare
Financial viability analysis the design brief for the architects,
recommend the most suitable project
Finally, but crucially, we prepare an
team members (architects, engineers,
expert appraisal (either indicative
quantity surveyors) and manage the
or RICS Red Book valuation) of the
tender process.
value of the project and the site, in
accordance with the recommendations
given in our report. This will generate a
Gross Development Value – being the
aggregate of the sales and capitalised
income/sales of the commercial
elements of the scheme, as well as
a residual valuation to determine the
land value of the site assuming the
‘recommended’ scheme.
We work closely with appointed quantity
surveyors, architects, engineers and
construction managers in order to make
this a fully accurate reflection of the
development opportunity.03
Development Services
Development
Management
A development manager role
is effectively as a surrogate
client providing an interface
between the client and the
project manager, acting within the
confines of client instructions.
Savills has unparalleled experience of
undertaking development management
roles on resort schemes and believes
that this service would successfully
drive the project, particularly through the
critical early stages of decision making
and ensuring financial viability.
This role encompasses all phases and
aspects of the development cycle from
identifying a development opportunity,
site selection, technical and financial Accordingly, the development The strength of Savills development
modelling/appraisals, through to management role that Savills provides management derives from the depth
planning, project team selection, design encompasses technical consultancy and breadth of advice we are able to
and construction, as well as leasing, services (such as due diligence, offer our clients as a complete packaged
sales and marketing. technical appraisals, feasibility studies service. We achieve this by bringing
and development monitoring) to all extensive development-related skills,
Our focus on every project is value other internal-development-related knowledge and expertise to each and
enhancement, risk mitigation and disciplines and the myriad of external every project.
delivery of the highest-quality advisors who are an integral part of the
development product. development process.
12. Savills International Development ServicesValuations
Savills International provides formal
valuations and consultancy reports for
properties across the globe on behalf of
Sales Advice a wide range of clients and purposes.
and Expertise Our team of qualified RICS Registered
Valuers works directly with a network of
over 500 Savills offices and Associate
Following on from the generation of
Marketing Strategy leads we endeavour to obtain the best
sales values that the market presents.
offices around the world to provide
the most up to date valuation advice
in almost any market globally. We
Mounting and developing have Savills offices in most countries
Our methods include:
lead generation through data in Europe, Asia and the Americas
bases, PR, advertising, the web, YY Use of a PLT (Price, Location and and regularly carry out valuations in
Time) matrix pricing approach which
exhibitions, signage and any destinations as diverse as Central and
incorporates financial models to
sources that we see suitable. Western Europe, Montenegro, Croatia,
calculate income and phasing for
larger scale developments The Caribbean, UAE, Cuba, and Mexico
Sales absorption rates depend on the to name a few.
supply of quality leads generated by the YY Brochure design and advice to
marketing. ‘Lead-to-sale’ conversion ensure bespoke proposals to the The International Valuation team can
rates tend to vary from 2% and 5% and correct market provide formal and informal valuation
the gestation period from 2 – 6 months advice for a diverse range of purposes,
YY Creation of sales models and contracts including:
according to the location, type and price
of the property being sold. Likewise the YY Designing and running of sales offices YY Loan Security – Valuations in
cost-per-lead and cost-per-sale. support of the provision of debt
YY Selecting expert personnel to run and
act as salespeople in the on-site office finance or mortgage facilities, usually
The methods include: provided for banks and other lending
YY Identification of the optimal route to institutions.
the market
YY Expert Witness/Matrimonial – Formal
YY Marketing strategy focussing on valuation advice, as third party
target markets, timing marketing independent valuers, in matrimonial
materials and PR proceedings or other disputes relating
to a shared asset value.
YY Marketing budget control and
estimation YY Development Valuations – These
can be either formal (Red Book)
YY Website design advice and web valuations or informal development
marketing strategy appraisals, aimed at calculating the
Gross Development Value as well
YY Brand building as a residual land valuation of the
development in question.
YY Road show advice and exposition design
Valuation is a diverse skill and can be
undertaken in relation to residential
properties such as villas, apartments,
farmhouses and chalets as well as
larger-scale mixed-use developments,
golf courses, hotels & resorts.
Savills has unparalleled To discuss any overseas valuation
requirements you may have or to obtain
experience of undertaking
a fee proposal, please contact Savills
International Valuation team.
development management
roles.04
Case Studies
Al Khobar Tower, Saudi Arabia
Location Al Khobar, Saudi Arabia
Client Al Khobar Group
Description To create a land-mark mixed-use building, with
200 serviced apartments, retail space and major
international hotel opportunity.
Role Development Consultancy and Development
Management
14. Savills International Development ServicesYingde Farm, Guangdong Province, China
Location Yingde Farm, Guangdong Province, China
Client Guangdong Rising Assets
Description Feasibility Study on 700ha site. A market tested masterplan allowing for a
mixture of Tourist land uses and also elements of residential, commercial
and industrial uses. The masterplan will include renewable energy
generation technologies.
Role Master-planning, Urban Design
Vista Palace, Côte d’Azur, France
Location Vista Palace, Côte d’Azur, France
Client Vista Palace Developments
Description Refurbishment/development of 10,000 m² 5* hotel
and related services and 12,000m² for “Residence
de Tourisme”
Role Development Consultancy and sales & marketing04
Case Studies
Lustica Peninsula, Montenegro
Location Lustica Peninsula, Montenegro
Client Orascom
Description Detailed Master plan including three areas of development over two
phases. Phase 1: Golf Course, 1 hotel, downtown area; and area to
south-west of military site . Phase 2: Development of area marked
as “mine” on the master plan
Role Development Consultancy
16. Savills International Development ServicesOlympic Village, London
Location London
Client Lend Lease
Description 70-ha mixed-use development site, providing 15
million sq ft of accommodation for residential, retail,
commercial and ancillary uses
Role Sole residential development advisors
Porto Montenegro, Montenegro
Location Montenegro
Client Adriatic Marinas
Description Apartments, 800-berth mega-yacht marina, 5* hotel
Role Development Consultancy, marketing & sales consultancy04
Case Studies
Aphrodite Hills Golf Resort
Location Paphos, Cyprus
Client Lanitis Group
Description 500-acre residential golf resort with 6,000 residential units,
five championship golf courses, four hotels and extensive
leisure, retail and commercial facilities
Role Residential advisory and sales & marketing
18. Savills International Development ServicesSveti Marko Island, Montenegro
Location Montenegro
Client Metropol Development
Description Luxury private villas, 6* Banyan Tree hotel & spa
Role Development management, development
consultancy, marketing & sales consultancy,
exclusive global sales
Quinta do Lago Golf Resort
Location Algarve, Portugal
Client Andre Jordan
Description 1,700-acre luxury residential golf resort with 1,200 residential
units, five championship golf courses, three five-star hotels
and extensive leisure, retail and commercial facilities
Role Residential consultancy and sales & marketing05
The Core Team
Charles Weston Baker, Savills International Residential and Resorts Managing Director, has more than
25 years experience in the international property world and has been with Savills for 14 years. Prior to
joining Savills, he gained extensive experience in the construction and resort industry with Bovis Abroad/
P&O. Charles heads the International Residential team, spearheaded by the individuals introduced below.
Their roles are to assist throughout the development process, taking vision to reality. The advice available
extends from the professional team selection through to the co-ordination of all participants to ensure that
the research and viability, masterplan, specification, design and construction are appropriate to achieve
the required quality for a destination resort that will be marketed to a truly international clientele.
Sean Monie has more than 20 years’ experience in the construction industry. He
specialises in providing project management, project monitoring and technical
due diligence advice to blue chip institutional funds, investors and corporate end
user clients. He has a full understanding and appreciation of the various issues
surrounding all facets of development process.
Daniel von Barloewen joined Savills in 2007, having previously worked in Russia,
Germany, France & Switzerland. An Associate Director, Daniel manages the International
Resort Consultancy Department. He has a Masters in Property Valuation & Law
from CASS University, and is a Member of the Chartered Management Institute.
He specialises in development management, development investment analysis,
development consultancy and marketing consultancy.
Richard Walker is an Associate Director of Urban Design in our London Office. He leads the
development of Masterplan projects from concept to delivery plan, and advises clients on the
approach to designing schemes and selecting architects. Richard’s 15 years of experience in
Landscape Architecture and Masterplanning with public and private sector companies makes
him well placed to produce a viable masterplan to suit a client’s brief.
David Parker has worked at Savills since 2007 and is a qualified RICS Chartered
Surveyor and Registered Valuer. An Associate in the International Resort Consultancy
department, David previously worked in the residential sales and Central London
valuation teams. He now provides a range of services to international developers,
including development management, development consultancy, design review and
Red Book valuations.
Riyan Itani joined the Savills Cambridge office in 2004, having graduated with a
Masters degree (MPhil) in Land Economy at Cambridge University. As an Associate
within the International Consultancy team, he specialises in strategic land review,
development appraisal, development consultancy and valuations.
David Harper works closely with the International Resort Consultancy Team on integrated resort
schemes. A Chartered Surveyor and Managing Director of Leisure Property Services, he was
previously Head of Valuation & International Brokerage for CB Richard Ellis Hotels. He is the author of
the only comprehensive book on the hotel transactional market “Valuation of Hotels for Investors”, as
well as being employed by the RICS to provide hotel valuation advice. David has been involved with
a huge array of mixed use developments in over 90 countries, providing feasibility studies, structuring
debt & equity positioning, finding hotel operators and selling the operational hotel.
20. Savills International Development Services06
Professional Partners
A non-exhaustive list of the
international Hotel Operators
with whom we have long-standing
relationships includes:
YY Hyatt International
As a result of the quality and
YY Fairmont Raffles Hotels International
scale of the projects on which
we are involved, we frequently YY Jumeirah
work alongside a number of other
YY Mandarin Oriental
global firms, all leaders in their
fields. A non-exhaustive list of YY Banyan Tree
such firms includes: YY Six Senses
YY Arup
YY Hilton
YY Halcrow
YY Starwood Hotels & Resorts
YY Bovis Lend Lease
YY Marriott
YY Mace
YY Taj Hotels
YY Davis Langdon
YY Intercontinental
YY Gleeds
YY Rezidor
YY Harper Downi
YY Accor
YY Gardiner & Theobald
YY Kempinski
YY EC Harris
YY Sol Melia
YY HVS Global Hospitality Services
YY Movenpick
YY TRI Hospitality Consulting
YY PKF International Examples of work carried out in
certain locations:
YY Woods Bagot
YY Barbados
YY WAT&G
YY Switzerland
YY EDSA
YY France
YY Foster + Partners
YY Monaco
YY ReardonSmith Architect
YY Spain
YY PRP Architects
YY Dubai
YY RMJM
YY Cuba
YY HOK
YY Portugal
YY Hirsch Bedner & Associates (HBA)
YY Mallorca
YY Interior Design Consultants
YY Italy
YY Antigua
YY USA
YY Croatia
YY Montenegro07
Savills Global Presence
Over 500 offices and associates worldwide
Americas
Africas
UK Asia Pacific Europe
England Australia Austria
Ireland China Belgium
Scotland Hong Kong Croatia
Wales India France
Japan Germany
Macau Gibraltar
Malaysia Greece
New Zealand Italy
Singapore Luxembourg
South Korea Monaco
Taiwan Montenegro
Thailand Netherlands
Vietnam
22. Savills International Development ServicesEurope
Asia
Pacific
Middle East Americas
Norway
Poland
& Africa Canada
Caribbean
Angola
Portugal Mexico
Botswana
Russia USA
Oman
Serbia
South Africa
Spain
Swaziland
Sweden
Zambia
SwitzerlandOur objective is to combine our expertise in order to maximise value, reduce development risk and create and international destination savills.com
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