Construction & Development
Renovation
Short Definition
Rehabilitating existing property to improve or update, lower cost than new construction, raising property value and rental returns.
In Other Languages
Arabic
الترميم
إعادة تأهيل عقار قائم لتحسينه أو تحديثه، أقل تكلفة من البناء الجديد، يرفع قيمة العقار وعوائده الإيجارية.
English
Renovation
Rehabilitating existing property to improve or update, lower cost than new construction, raising property value and rental returns.
Turkish
Yenileme
Mevcut mülkü iyileştirmek veya güncellemek için yenileme; yeni inşaattan daha düşük maliyetli, mülk değerini ve kira getirilerini artırır.
Related Terms
Construction Project
Project to construct new property or renovate existing, phases: planning, design, execution, delivery, requiring professional management.
Remodeling
Radical change in property design like demolishing walls or adding rooms, deeper than renovation, transforming property to new style.