The University of Aberdeen is to link up with its worldwide partner institutions to offer students a unique real estate course exploring the globalisation of the real estate profession.
The course, MSC International Real Estate Markets, is the first of its kind in the UK and will initially be delivered jointly with the Hong Kong University (HKU). Negotiations are ongoing with other possible partner universities in Australia and North America.
In January 2005, the University of Aberdeen and HKU agreed to work together to develop greater and broader collaboration with the intention of enhancing research and educational excellence. The two universities signed a Memorandum of Understanding, which will also see the academic exchange of teaching staff and students to ensure both staff and students can mutually benefit from researching and studying in overseas markets.
Professor Norman Hutchison, of the University of Aberdeen’s Business School, is leading the new degree programme and is delighted that the link up will provide an international dimension to the courses taught at Aberdeen.
He said: “The aim of this new course is to meet the rapidly emerging professional and skill requirements of the property sector.
“The last 10 years has seen the rapid globalisation of the real estate market and it is important that we adapt our courses to meet the demands of the profession. Institutional investors are seeking to diversify their property investment holdings across the globe and as markets expand there are opportunities for real estate professionals to assist clients with their occupational requirements as well as development projects.
“The Chinese property market is a fast growing and vibrant market and we are delighted with our link with the Department of Real Estate and Construction at the University of Hong Kong which is a leading institution in Asia Pacific. This is very exciting opportunity for those considering a career in real estate and who may want to work overseas.
“The degree will also provide a professional foundation for graduates seeking to practice in the commercial property and valuation faculties of the Royal Institution of Chartered Surveyors (RICS).”
The new degree places particular emphasis on economics, finance and investment and addresses those areas of professional practice concerned with domestic and international real estate use, investment and development.
A minimum of one month of the course will be delivered in Hong Kong with students able to stay in Hong Kong for a further two months to complete fieldwork and case studies. There is also a week-long field trip to a European city in early spring to enable the students to analyse and appreciate the differences in the functioning of real estate markets in various countries.
According to Professor Hutchison, this new initiative has been warmly welcomed by employers in Hong Kong. He said: ”During our visit last year there was a great deal of enthusiasm among employers in Hong Kong for this programme. The University of Aberdeen has an excellent reputation for property education and many employers offered the possibility of short work placements for our students wishing to gain a deeper insight into the operations of the Chinese property market. This is truly a great opportunity and we have plans to expand our list of partner universities for the start of the 2007 intake.”
The MSc International Real Estates Markets includes topics such as valuation and finance, real estate economics and property, and property law and institutions.
The course begins at the University of Aberdeen in September 2006 and anyone interested in gaining a place on the innovative new course should contact the University of Aberdeen’s Student Recruitment and Admissions team, on (01224) 272090 for further information and advice. The University also offers an MSc programme in Property, Property and Finance and an MBA in Business and Property, which are all accredited by the RICS.