PwC: Projects without Feasibility Studies Bring Disastrous Outcomes
Lasha Janelidze, PwC Georgia auditing company managing partner has talked about the current challenges in the real estate sector. Prior to starting a project implementation, feasibility studies should be prepared.
At the same time, certain time should be spent on assessment of regulations in the processes of introduction of regulations (RIA), Lasha Janelidze told BM.GE.
“In other countries new technologies are introduced and applied in real estate sector and this access to this experience and knowledge is of crucial importance for the sector development. The challenges come from regulations and frequent changes in them. The sector needs openness and transparency to determine what specific outcomes these or those regulations may ring and how they will develop the sector.
Economic examination of various projects is the third Challenge before taking a final decision. There are projects, where values may be made as a result of preparing an early assessment.
If projects start without feasibility studies, we receive only disastrous outcomes”, Janelidze said.