No it has benefits only for the private property owner, never for society at large. All private property is this way. Capitalism is a system that deifies private property, so it will only ever get more and more 'private'
You can debate whether capitalism is (or should have been) the only method for getting things done, but the use of private property as a viable incentive for driving innovation within that system is not really debatable.
You do not in any way need to enslave people in order to develop land; only to develop land AND enrich a bourgeois class of people.