The Enterprise and Economic Development Glossary a resource of the .network library

real estate development :

... AKA property development — the organized activity of changing an area of land and its environment of natural resources as well as those things that may be affixed permanently to it; the conversion of a real estate site or other real property, for example, a group of buildings together as a unit. Real estate developments are typically sites that have a location identity.

A real estate developer is an individual or group that changes one or more sites through an organized effort. A developer may own the real estate or manage a project for someone else. Some developers finance real estate projects. Others may operate as subsidiaries of real estate brokerage or construction firms as well as other types of real property asset investment or owner groups. Real estate developers may be involved in government real estate development, for example, as a stakeholder in an industrial park owned by a local economic development authority. They may work within various types of public/private partnerships.

Wikipedia has a real estate development article. Various types of commercial and industrial real estate developments identified as parks are defined in Site Location Assistance.com.

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