Project Management
“Project management is the art of creating order out of chaos, delivering results through structured planning and diligent execution. Success lies in the details, where discipline and collaboration intersect.”
Lisa Anderson
Through our partnership with BlackHawk S.A, we consulted and offered Project Management services to major investment funds, companies, and REIC’s The implementation risk of a real estate project in Greece is always something that concerns potential investors. Our role is to walk and safeguard the investor through during all stages of the process from A-Z. You can find below the stages and services that our Team can offer:
STAGE 0. TRANSACTION PHASE
Full support to the Investor related with technical, financial and legal issues
• Technical Due Diligence providing report on the existing situation
• Cost estimation for construction or renovation
• Preparation of Template Time Schedule to include
• Support on the preparation of the sale/purchase agreement
• Elaboration of business plan
• Assistance in loan arrangement from major Greek Banks with preferable terms.
• Examining the possibility and granting state subsidy (Greek Ministry of Development, European Investment Bank, E.U. funds)
STAGE 1. DESIGN AND PERMITTING PHASE
• Coordination and control of master planning & preliminary design
• Budget & time schedule estimation
• Coordination control of main design building permit procedures
• Coordination & control of detailed design
• Preparation of contract with Main Contractor, subcontractors, suppliers (depending on the agreed Contracting Strategy)
STAGE 1.1 Hotels & Serviced Villas, Branded Residences – CHOOSING HOTEL OPERATOR
The selection of the appropriate hotel operator is an essential step for the success of a hospitality project.
The Team is in direct contact with the top-level management of major international hotel groups like Marriot and International IHG.
STAGE 2. CONSTRUCTION PHASE
Following the appointment of the Main Contractor/Subcontractors by the Investor, the Project Manager will provide the following services:
• Supervision on site with daily presence in order to ensure that the obligations of the contractor derived by the signed agreement are respected
• Design Management ensuring that cooperation between Designer and Contractor on site provides positive and productive results for the project
• Management of Quality Control Procedures ensuring that all materials and equipment implemented in the project are according to technical specifications and applicable laws
• Ensuring that all Health and Safety Procedures are respected, and Personal Safety Equipment are used by all parties involved
• Administrative activities including the cooperation with local authorities to ensure that all statutory controls will be successful and on time in order to avoid delays and drawbacks in the project
• Preparation, update and control of Project’s Time Schedule to include the critical path of the project as well as all milestones
• Value Engineering (Construction stage) in order to provide alternatives to expedite construction and/or reduce the construction cost
STAGE 3. COMPLETION PHASE
The actual quality of a constructed object is proved and articulated after the completion of the works in the early stage of operation where most problems normally appear Following the completion of the construction works by the Contractor, the Project Manager will provide the following services
• Taking over commissioning procedures including necessary tests of equipment according to contractual obligations and local legislations
• Support to obtain use permit/ negotiations with local authorities
• Support to obtain all necessary permits from local authorities
• Introduction of all vendors, suppliers, personnel related to the operation of the building ensuring that they receive sufficient training from the contractor’s personnel
• Technical support and claims arbitration during Defects Liability Period (normally 2 years after completion) in order to ensure the proper operation of the facilities and the fair allocation of liability between parties in case of failures
STAGE 4. EXIT STRATEGY
Team members hold long term established and proven relationships with major local and international REIC’s, Family Offices, and Investment Funds Since the most important stage of a private equity investment is the Exit the Team can strongly support the investor in finding the proper buyer at the right time to maximise IRR.