Regulating property development and the capacity of the development industry

This paper reviews the interaction between the property development industry and its regulatory environment. Taking a long perspective, and drawing on research findings from different periods, it argues that the composition and practices of the various segments of the industry have been significantly affected by the regulatory context. It argues further that public policy should give more attention to its role in shaping the industry's evolution, particularly as this affects the capacity of the development industry to deliver to urban and regional economic, social and environmental objectives.