Development in construction as an effective form of investment in the real estate market

Importance. A modern form of investment activity in the real estate market isdevelopment. Strengthening the role of the state, external negative pressure (including in the form of sanctions), universal digitalization, a pandemic "shake-up", switching to project financing, changing consumer patterns, reviewing approaches to developing sites and interacting with contractors and creditors, and combining various functions (developer, contractor, service and management companies) within one development company have made significant adjustments to the development of real estate development. It should be noted that we are talking not only about housing stock, industrial (industrial) real estate and commercial sites, but also about public spaces and the entire environment. Objectives. Research focuses on development as an effective form of investment activity in the real estate market. The authors analyzed the problems and prospects for the development of real estate development, determined its place in the investment and construction complex and its role in the socio-economic aspect. Methods. The research used a systematic approach, methods of comparative analysis, synthesis, groupings, observation, abstract-logical and statistical-economic. To achieve the goal of the study, relevant scientific and practical materials and economic literature on the topic were studied, analyzed and summarized. Conclusions and Relevance. It was concluded that the optimization of investment and construction activities can be carried out through development. Being an effective form of real investment in the real estate market, development represents the reaction of the market to emerging needs in society, which cannot be met without changing existing real estate and creating new, including socially significant objects. Developers are a unique figure in the real estate market, since they organically combine entrepreneurial and managerial functions in their activities. Special aspects and problems of development business were identified. When selecting and implementing investment and construction projects, developers should take into account economic, social, environmental and aesthetic aspects.