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What is Real Estate Development? In simplest way, property development is an approach to creating space for people and related services. The property product, whether the construction of a new property or a revamped home, comes as the outcome from the collaboration by a number of related professionals. Real estate development involves an array of inputs which include land, labor and capital, as well as management and entrepreneurial thinking. After the initial investment has been made, a developer will be expected to create a property that is worth for the people who use it.