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What is development property?

Updated: 9/19/2023
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12y ago

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Development property is land and the encompassing buildings or lots on it, that is owned by a property development or real estate company. The land is set aside to be repaired or reshaped into a different business, organization, or residential function. Usually the land is barren or the current buildings will be torn down, with plans for new buildings to be built.

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