Mikhail Dvornikov (Mikhail Vladimirovich Dvornikov)- bought an office building in Cape Town2 min read
Dvornikov Mikhail – is a real estate developer and invests in real estate development projects that are very profitable.
Mikhail Vladimirovich Dvornikov – www.dvornikov.at
After the collapse of the USSR, he and his family immigrated abroad and constantly lives in Austria, Switzerland and France. Since 1992 Mikhail Dvornikov has owned a number of companies with large real estate holdings in Moscow (Russian Federation). As of 2006, the value of Mikhail Dvornikov’s real estate assets was estimated at $200 million, with an annual gross profit of $60 million. Between 2006 and 2008, all assets and businesses in Moscow (Russian Federation) were sold. At present Mikhail Dvornikov is a private investor and owner of a number of companies in Austria and Switzerland, he is engaged in charitable, social and scientific activities.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction or housebuilding, although many developers also manage the construction process or engage in housebuilding.
Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint venture, create, imagine, control, and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it.
Sometimes property developers will only undertake part of the process. For example, some developers source a property and get the plans and permits approved before selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer that is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately.