Estate: Can I limit building to one group?

I'm working on a couple of islands, and plan to allow certain other people to build on them. I don't want just anybody to build.

Is there a way to create a group, give full build permission to members of the group, put these people into it, and then restrict building (on my land) to members of the group?

sure, deed or set the parcel(s) to group, then the group role settings of a person in that group control if they can build or not. and the owner roll or anyone else can set the parcel option to build or not for everyone not in the group.