The Development
Playbook

Tool T–01 / Available

Make the development case explain itself.

Connect land, product, pricing, cost, capital, and time in one transparent early-stage feasibility view.

Assumption set

Site & product

Gross floor area

7,000 m²

Saleable area

5,740 m²

Break-even price

KES 145,558

Residual land value

KES 229.4m

Base-case output

Investment view

Meets target

Development profit

KES 226.4m

Margin on cost

27.1%

Margin on revenue

21.3%

Cost compositionKES 835.5m
LandKES 180.0m
ConstructionKES 504.0m
Fees and contingencyKES 65.5m
Finance and salesKES 86.0m

Sensitivity matrix

Price × construction cost.

Each cell shows margin on cost. The center cell is the current base case.

Cost / Price-10%-5%0%+5%+10%
-10%23.9%30.6%37.2%43.9%50.5%
-5%19.1%25.6%32.0%38.4%44.8%
0%14.7%20.9%27.1%33.3%39.4%
+5%10.6%16.6%22.6%28.5%34.5%
+10%6.8%12.6%18.4%24.1%29.9%

Method note

This prototype estimates gross development value from saleable area and average selling price. It applies professional fees and contingency to construction cost, marketing to GDV, and a simplified finance charge based on average debt outstanding.

It does not yet model tax, detailed cash flow, staged drawdowns, presales, absorption, escalation, unit mix, parking, infrastructure contributions, or income-producing exit values. Use it to structure an early question—not to replace a project-specific investment model.

Questions / Method

What the first feasibility should answer.

What does a development feasibility study test?

It connects land, planning capacity, saleable or lettable area, pricing, construction and professional costs, finance, programme, and risk to test whether a project can meet its return requirements.

What is development margin?

Development margin is project profit divided by total development cost. It is a simple return-on-cost measure and should be read alongside cash flow timing, equity returns, and downside sensitivity.

Can this calculator replace a detailed financial model?

No. It is an early-stage decision aid. A live investment decision requires project-specific tax, cash flow, drawdown, sales or leasing absorption, escalation, infrastructure, and exit assumptions.

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