To establish the development potential of a piece of land, the first step is to check the zoning of the land and whether it can be developed. For example protected land could never be built on whilst land zoned for commercial use could not be used for residential and vice versa. This is the purpose of rezoning a piece of land.
Next due diligence and detailed studies need to be conducted of the local economy including population growth, migration, employment levels, trends and local legislation. Additionally, searches would be conducted to ensure the land was free of debts and claims. It is also important to check that there is direct access to the land.