The death of feasibility studies (part 1)
Why 6 weeks and $25,000 just don't work to appraise opportunities
A friend recently told me that, after 18 months of development work, they shelved a $180 million mixed-use project in Dubai.
18 months!
The feasibility study? A 247-page masterpiece that took four months to complete and cost $85,000.
The problem?
By the time it was finished, the market had shifted, interest rates had climbed 200 basis points, and three co…
