Meaning of DEVELOPMENT in English

[noun] [U]Mr Berkowitz is in charge of product development (= inventing new products) for the company.There's been a lot of housing development (= building of houses) in the area.A development is also an area of new buildings which have been built in order to make a profit.Quality homes of character and distinction on a new development by Lloyds.(UK) A development area is an area of high unemployment in which the government encourages new industries to start so that more jobs will be created.This economically depressed region has been designated a special development area.

Cambridge English vocab.      Кембриджский английский словарь.