Feasibility in real estate projects is not just about numbers. The success of a project is not determined solely by construction costs per square meter, sales prices, NPV and IRR tables, but by a well-structured scenario strategy . A robust feasibility study evaluates all of the following together: 📍 Location & environmental dynamics 🏗️ Functional mix and use scenarios 👥 Target audience and demand behavior ⏱️ Timing and market cycles ⚖️ Risks, flexibility, and alternative