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A commercial office/retail building. Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores ...
Construction is a general term meaning the art and science of forming objects, systems, or organizations. [1] It comes from the Latin word constructio (from com- "together" and struere "to pile up") and Old French construction. [2] To 'construct' is a verb: the act of building, and the noun is construction: how something is built or the nature ...
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada. In 2004, MasterFormat was updated and expanded to 50 Divisions. [1]
General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction foreman (a tradesman in charge of a crew). A general contractor must first assess the project-specific documents (referred to as a bid, proposal, or tender documents). In the case of renovations, a site ...
Mechanical, electrical and plumbing ( MEP) refers to the installation of services which provide a functional and comfortable space for the building occupants. In residential and commercial buildings, these elements are often designed by specialized MEP engineers. MEP's design is important for planning, decision-making, accurate documentation ...
"50 Divisions" is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the United States and Canada. Standardizing the presentation of such information improves communication among all parties. Divisions
Construction contract. A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [1] has full authority to ...
EPCM is a services-only contract, under which the contractor performs engineering, procurement and construction management services. In an EPCM arrangement, the client selects a contractor who provides management services for the whole project on behalf of the client. See also. EPCI; Construction management; References
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