In a period of globalization and fierce market competition, the level of investment activity plays an essential role in supporting economic and innovative growth. Hence, one of the most important steps in maintaining the stable performing and sustainable growth of an entity is for the investment management system to select the best option from several possible investment projects. In this regard, the aim of this research is to develop a thorough multi-criteria strategy to select the optimal investment option. analysis of three alternative investment projects is done as a case study. a statistical analysis is conducted on the data obtained from the performed questionnaire that is sent out to the investors and real estate developers in Jordan. A multi-criteria method of investment project evaluation is also proposed, which is characterized by the flexibility to use as many evaluation indicators as necessary. The results indicated that the alternative Project -constructing a rehabilitation center-with the highest calculated net present value equal to 6,660,942.06 JD is selected as the optimal project from others. the use of the proposed methodology will assist real estate investment companies achieving the better management decisions during the process of selection the optimal investment project. Keywords: Real Estate Investment, Investment project, Multi-Criteria, Optimal investment, Process of Selection, Project Evaluation