What does spend control mean in real estate?

What does "Spend Control" Mean in Real Estate?

In real estate, "spend control" refers to the processes and strategies implemented to manage and regulate expenditures associated with property development, management, and investment. This can include budgeting, forecasting, procurement practices, and cost monitoring to ensure that spending aligns with financial plans and project goals. Effective spend control helps real estate companies and investors maximize profitability, minimize risks, and achieve better financial outcomes by avoiding cost overruns and ensuring efficient use of resources.