Marketing in Real Estate

Topics: Marketing, Price, Sales Pages: 7 (1871 words) Published: August 11, 2009
Marketing in Real Estate
Tying-up Loose Ends of Traditional Marketing with Relationship Marketing

“Marketing is not a function; it is a way of doing business . . . marketing has to be all pervasive, part of everyone's job description, from the receptionist to the board of directors.” - Regis McKenna, Marketing Consultant, Silicon Valley

Perhaps the oldest business in the history of mankind is real estate. A man’s wealth was measured in terms of number of cattle and amount of land he owned. Then we saw the age of renting or leasing private land and buildings. This trend has not changed yet in the present scenario. The cattle have converted into electronic gadgets, while land has extended to buildings. We still measure a person’s economic condition in terms lands or building he owns, all in all, his share in the real estate.

Growth of Real Estate in Nepal
Though real estate involves buying, selling, renting and leasing of all form of land and buildings, the first things that pops up in anyone’s mind is the housing and apartment business. Companies today have captured this sector to bring in a new trend towards living – community housing. Community living has broken the conventional trend of building our own homes to introduce living in state-of-the-art design and modern homes made by privately owned construction companies. They have been successful, regarding the fact that contribution of real estate to our country’s GDP has increased from 6.34% in 2005/06 to 11.76% in 2006/07. Most of the well established industries such as Chaudhary Group, Golchha Organization, just to name a few, have tapped into this so called “lucrative business”, whose primary business is not real estate.

CE Construction at a Glance
Committed Entrepreneurs (CE) Construction was driven by the dream of four engineers – Bijay Rajbhandary, Shyam Milan Shrestha, Gopal Manandhar and Raju Man Silwal. With the goal to actively participate in the socio-techno development of the country, the company was established in 1992. Their diversification into the preferred lines of businesses though associates ventures has been through partnerships allowing them to leverage on their core strengths. They entered community housing through ‘The Comfort Housing Pvt. Ltd.’ at Sitapalia in 2001. Later, they tied up with CM Developers Pvt. Ltd. and CD Developers Pvt. Ltd. for expansion into real estate business. The table below lists major completed and ongoing projects under CE’s belt.

Completed Projects
|Independent Housing and Apartments |The Comfort Housing – Sitapaila, Buddhanilkantha, Inchangu, Dharan. | | |Comfort Housing Tower – Lazimpat and Panipokhari | |Office and Commercial Complex Building |Vibor Bikas Bank, Tripureswor | | |Ace Development Bank, Naxal | | |Corporate Office, Laxmi Bank, Hattisar | | |Sunrise Bank, Gairidhara | |Religious Projects |The Great Lotus Stupa, Lumbini | | |Pagoda and Dhamma Hall, Vipassana Meditation Center | |Institutional Building |British School | | |Shuvatara School, Sanepa | | |Ace Institute of Management,...
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