Greetings iwubpreve

First of all, thank you for sharing your expertise with us! i've been following the thread since it was here and now i have a question of my own in need of your expert opinion 

Alright, recently i've been in debate with a fellow friend on the basis of how to determine a project's construction progress.

He was telling me that, base on his observation, most apartments should averagely built up between 1 to 1 1/2 Floor per month for a 30+- floor apartment (Regardless of the building size)

IMO, i think it was a bit of layman to measure progress with that way. But that is the only visual confirmation we can get to check the progress of a project.

so my question will be, what is the proper basis the one can use (As a homeowner or construction personnel) to determine the construction progress? 

Thanks   

Thank for the reply. Correct me if im wrong.. What ur trying to say is.. The progress is considered as 50% complete with all the floors and pillars complete up to the highest floor??

well, all developer do that including big developer. if company capable to get loan, why not? coz example u have 100mil cash. this is sufficient to build 1 high end condo. but why not u borrow another 1 billion to build 11 high end condo?

still possible now. reason is because the developer no money to finance the job. say this project building cost 100mil and it have 200 units with 600k each unit which can sell 120 million. usually when certain amount of unit sold then they will start the project. say at the middle of project progressively it hit 50 million (progress 50%) while sales only hit 70 million, bank will release 70 million times progress 50% which is 35 million. if developer no cash then gg already. no money finance and need to declare insolvency. simple explanation.

bank will not support developer. bank pay developer because the purchaser borrow money from bank for the unit they purchase. bank just release the money purchaser borrow to developer base on the progress % certified by architect.

so if fully sold then developer shouldn't have any issue. unless they have design issue, need to redesign and redo then that is other issue. cost overrun.