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Seminar paper from the year 2008 in the subject Business economics - Investment and Finance, grade: 90%, University of Wuppertal, language: English, abstract: A developer named Jemima bought a plot of land. She acquired this in order to develop the land, want to erect an office-building complex and to sell this one after completion of constructions. The question is, at which point of time should she starts the construction works with the aim to maximize the surplus of the property development, when she going to sell it. Based on a few key assumptions, it should be examined, what could be possible strategies and how the uncertainties of future expectations can influence these decisions. The assignment transfers the share market instrument of "options" to the real estate market investment process.