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This chapter is excerpted from ‘Rays of Research on Real Estate Development'. Real estate development accounts for one of the major economic sectors in most countries, yet during the last two decades research on this important topic has been scattered. This textbook brings together some of the most important results on this subject. The book is written in a pedagogical way and covers crucial aspects of this industry such as growth management and real options, land use regulations, mixed housing developments, taxes, externalities, housing affordability problems, land prices and uncertainty, public infrastructures, and housing supply. This textbook is an excellent source for an advance course in real estate development that attempts to cover important contributions in this area. The book is accompanied with multiple choice questions to test students' assimilation of the material.