In the implementation of capital construction projects, especially housing and commercial real estate, there is a need for a comprehensive study and analysis of the interaction of entities operating in the real estate market, as well as consideration of the place of development in this process. First, the external and internal environment of the investment project is analyzed, goals, priorities and criteria of the investment project are formed. Then the variants (alternatives) of investment are created, from which the best is chosen according to the criterion of maximizing the positive effect while minimizing the negative consequences. A system of management, monitoring and evaluation of the results of the implemented project, linked with all previous stages, is being created. This article presents an algorithm for the development of the investment strategy of the development company, which allows to clearly and effectively display the process of strategic planning in the development company: the sequence of stages, the flow of incoming and outgoing information, the performers and the methods used by these performers at a particular stage. The method of evaluating the effectiveness of the investment strategy of the development company on the basis of indicators of the effectiveness of the investment project, which allows to assess the planned efficiency before the strategy, and after the implementation of the strategy, the actual efficiency. The purpose of the study, reflected in this article, is to improve the efficiency of development companies by developing the basic strategy of their behavior in the real estate market.