"possibility of development" is correct and usable in written English.
You can use it to talk about the potential for growth or progress in a situation or environment. For example, "The new educational initiative offers students a great possibility of development."
But there was the unsettling possibility of development on a vacant parcel nearby.
I'm not, because I remember the way that era really felt, our despair over the possibility of development.
Hand in hand with development of civilian power reactors is the possibility of development of nuclear weapons.
This result indicates a possibility of development of a substantially effective system compared to any other methods on constructed wetland.
Furthermore, we consider the possibility of development of a vector therapeutic vaccine that can relieve autoimmune disease symptoms.
This paper reports an investigation of the possibility of development of low cost supplementary cementitious materials using Pisha sandstone via thermally activated.
In truth, in interviews, Mrs. Clinton's advisers said that task was tough and growing tougher and that the critical questions were what would happen with Florida and Michigan and the possibility of developments involving Mr. Obama's relationship with his spiritual adviser, the Rev. Jeremiah A. Wright Jr.
Still the proposed model offers many possibilities of development or modifications.
But I realise that it is in the backwardness of India that lies the possibilities of development.
The article also provides a commentary on possibilities of development of the method within psychological disciplines.
That was the time of the Alliance for Progress, and it was a time when the Central American market was beginning, and people were very optimistic about the possibilities of development of foreign countries.
