Buying and selling land is permissible because it is included in the meaning of the verse in which Allah says (interpretation of the meaning): Allaah has permitted trading [al-Baqarah 2:275].
That applies whether it is for investment and profit, or in order to make use of it and benefit from it.
But trading is subject to certain conditions in order to be valid, including:
1. The land in question should be clearly known, as should the price, so that both the buyer and seller will be aware of what is going on
2. The transaction should be by mutual consent.
For more information please see the answer to question no. 103149
And Allah knows best.
Reproduced from Islam QA