Property development, the creation, refurbishment, redeveloping, etc. of property is a major ‘tool’ for investing money into fix-built environment assets, keeping it fit for purpose and managing the property as an investment instrument over very long periods. The state, on all levels, including the parastatals (government corporations), represents the country’s biggest category of property development and ownership (as it does in most countries). Although state property development and ownership are typically not profit-driven, the fundamentals are no different from the private sector. Private sector property development and ownership is a huge wealth-creating mechanism. From owning a private home/flat to large commercial and industrial portfolios worth billions, property is an undisputed creator of wealth.