What is the Joint Venture (JV) Process with HCK: Step-by-Step Overview

If you own land with development potential, a joint venture (JV) with HCK is a structured partnership where you contribute the land, and HCK brings development expertise, project execution capability, and resources to transform the site into a completed property development.

Below is a general overview of how the JV process typically works, from first inquiry to project completion.

1) Initial Inquiry & Basic Land Review

The process begins when the landowner contacts HCK and shares basic information about the land.

At this stage, HCK typically reviews:

Location and land size
Title type (freehold/leasehold)
Current land use / zoning (if known)
Surrounding area and market potential
Any constraints (access, terrain, restrictions)

Outcome: A quick initial assessment on whether the land is a suitable fit for development.

2) NDA (Optional) + Document Collection

If both parties want to explore further, HCK may propose signing a Non-Disclosure Agreement (NDA) so sensitive information can be shared comfortably.

HCK may request documents such as:

Land title / grant
Location plan or survey plan
Basic ownership details
Any prior studies or approvals (if available)

Outcome: Both parties align on transparency and share the information needed for deeper evaluation.

3) Site Visit & Feasibility Assessment

HCK will usually conduct a site visit and run an internal feasibility assessment.

This includes:

Development concept ideas (residential, commercial, industrial, mixed)
Market demand assessment
Rough project size assumptions
High-level cost estimates
Preliminary project timeline
Estimated GDV (Gross Development Value) and profit range

Outcome: A clearer picture of what the land can realistically become.

4) Concept Proposal & Early Deal Discussion

If the feasibility is positive, HCK may present a concept direction and begin discussing JV structures.

Common JV approaches include:

Profit share (landowner shares in project profits)
Land swap / unit swap (landowner receives completed units)
Hybrid structures (mix of profit share + units)

Key topics discussed:

How land value is assessed
How profits are calculated
Who funds what
Expected timeline and phasing

Outcome: Alignment on the preferred JV model and commercial direction.

5) Term Sheet / Letter of Intent (LOI)

Once both parties agree on the broad terms, HCK may issue a Term Sheet or Letter of Intent (LOI).

This typically outlines:

Proposed JV structure
Roles and responsibilities
Land contribution mechanism
Profit share or consideration structure
Governance and decision-making principles
Exclusivity period (if applicable)

Outcome: A formal “agreement in principle” before legal drafting begins.

6) Detailed Due Diligence (Legal, Technical, Financial)

Before signing final agreements, a deeper due diligence phase begins.

This may involve:

Legal checks (ownership, caveats, encumbrances, restrictions)
Technical checks (access, utilities, terrain, flood risk)
Planning viability (local authority requirements)
Financial modeling (costs, sales pricing, ROI sensitivity)

Outcome: Confirmation that the project is viable and the JV can proceed safely.

7) Joint Venture Agreement & Company Setup

If due diligence is satisfactory, both parties move to formal documentation.

This may include:

JV Agreement / Shareholders Agreement
Land-related agreements (lease, transfer, development rights)
Formation of a JV company (if applicable)
Roles, governance, and reporting structure

Outcome: The partnership becomes legally binding and ready to execute.

8) Masterplanning, Consultants & Authority Submissions

Once the JV is signed, the project enters development execution mode.

HCK typically leads:

Appointment of consultants (architect, engineers, QS, planners)
Masterplanning and design development
Local authority engagement
Planning submissions and approvals

Outcome: The project becomes an official planned development with approvals in progress.

9) Financing & Construction Preparation

In parallel, the JV works on:

Project financing strategy (internal + bank financing)
Contractor selection and tendering
Final construction budgets and schedules
Launch readiness planning

Outcome: The project is ready to go to market and break ground.

10) Sales Launch & Construction

After approvals and launch preparation, the project proceeds into:

Official sales launch
Marketing campaigns and agent activation
Construction commencement and progress reporting

During this stage, landowners in the JV typically receive:

Regular reporting (progress, budget, sales)
Governance updates based on the JV agreement

Outcome: Revenue generation begins while the development is built.

11) Completion, Delivery & Returns Distribution

Upon completion:

Units are delivered to buyers
Defects liability and after-sales support begins
Profits (or units, depending on structure) are distributed to the landowner based on the JV agreement

Outcome: Landowner receives the agreed JV return (cash, units, or both).

12) Post-Completion & Long-Term Opportunities

Depending on the development type, HCK may also support:

Property management
Commercial leasing (for mixed-use projects)
Future phases (if the land is large and phased)

Outcome: The JV may expand into additional phases or long-term partnership opportunities.

What You’ll Typically Need to Prepare as a Landowner

To move faster, landowners are encouraged to prepare:

Land title and ownership details
Basic site location plan
Any past approvals or studies
Clear alignment among co-owners (if multiple)

Typical Timeline (High-Level)

While timelines vary by land type and approvals, a JV process often follows this range:

Early review + feasibility: 2–6 weeks
LOI + due diligence + agreements: 1–3 months
Planning + approvals: 3–12 months
Construction: 18–48 months (depending on project type)

What is the Joint Venture Process with HCK?