Last modified: 31 Jul 2023 11:33
The course covers two key aspects of real estate, namely development and international investment. While development is an intrinsically local activity, the drivers of demand to occupy and invest in real estate are increasingly global. Thus, the course first deals with the process of development and then provides the context of globalisation of economies and real estate markets, which underlies the demand for real estate occupation and investment. The course involves a European field trip.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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The first part of the course adopts a project-based approach and uses a case study site to consider: the development and construction processes, including legal, physical and ownership constraints; the planning, conservation and sustainability contexts; assessing demand, market trends and marketing; the financing of development; and appraisal techniques for acquisition, sale or valuation, including sensitivity analysis. Students will be introduced to the appropriate sources of information and data. They will produce, in groups, proposals for the development of a site. This covers professional competences assessed by the Royal Institution for Chartered Surveyors (RICS) in commercial real estate. This second part of the course covers the economic globalisation and the consequences for real estate markets. It considers: globalisation of trade and capital flows; globalisation of real estate demand; portfolio financial analysis; international real estate markets; and equity and debt investment vehicles. The theme is the linkages among economies, financial markets and real estate investment, and the consequences. It also considers issues of market maturity and transparency, and compares the institutional contexts in a variety of national markets. The course encourages students to develop numeracy and problem solving skills and good group working practices.
| Description | Value |
|---|---|
| Field trip approximate cost £600 per student paid by the Business School. Additionally, students will be required to pay for their meals throughout the trip. | 600.0000 |
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 20 | |
|---|---|---|---|---|
| Assessment Weeks | 28 | Feedback Weeks | 31 | |
| Feedback |
Assessment 1: Individual Report – Planning / sustainability / site constraints |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Factual | Evaluate | Understand the linkages among economic globalisation, financial globalisation, integration of real estate occupier and investment markets and the consequences for the global economy. |
| Factual | Understand | Understand the national/local market context within which any development proposal must be made. |
| Assessment Type | Summative | Weighting | 20 | |
|---|---|---|---|---|
| Assessment Weeks | 33 | Feedback Weeks | ||
| Feedback |
Assessment 3: Group presentation of the final report prepared; 10 minute presentation Immediate feedback provided |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Be competent in the use of valuation and development appraisal techniques and in the evaluation of the appropriate information required as inputs. |
| Factual | Analyse | Contribute knowledge and problem solving ability to group activities. |
| Factual | Create | Be able to present analysis and findings for a client’s case orally and in written reports. |
| Factual | Understand | Understand the national/local market context within which any development proposal must be made. |
| Procedural | Evaluate | Understand the complexity of issues associated with development including planning, sustainability, legal and financial constraints. |
| Assessment Type | Summative | Weighting | 30 | |
|---|---|---|---|---|
| Assessment Weeks | 44 | Feedback Weeks | 47 | |
| Feedback |
Assessment 4: Individual report on a topical theme in International Real Estate, linked to the field trip |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Factual | Analyse | Understand the increasingly international nature of occupier demand, investment demand and development in commercial real estate markets. |
| Factual | Evaluate | Understand the linkages among economic globalisation, financial globalisation, integration of real estate occupier and investment markets and the consequences for the global economy. |
| Assessment Type | Summative | Weighting | 30 | |
|---|---|---|---|---|
| Assessment Weeks | 33 | Feedback Weeks | 36 | |
| Feedback |
Assessment 2: Group Report - Commercial aspects to cover the demand/ marketing and appraisal methods |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Be competent in the use of valuation and development appraisal techniques and in the evaluation of the appropriate information required as inputs. |
| Factual | Analyse | Contribute knowledge and problem solving ability to group activities. |
| Factual | Evaluate | Understand the linkages among economic globalisation, financial globalisation, integration of real estate occupier and investment markets and the consequences for the global economy. |
| Procedural | Analyse | Be proficient in the collation, interpretation, synthesis and preparation of materials from a wide range of sources. |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Procedural | Evaluate | Understand the complexity of issues associated with development including planning, sustainability, legal and financial constraints. |
| Conceptual | Apply | Be competent in the use of valuation and development appraisal techniques and in the evaluation of the appropriate information required as inputs. |
| Factual | Analyse | Understand the increasingly international nature of occupier demand, investment demand and development in commercial real estate markets. |
| Factual | Evaluate | Understand the linkages among economic globalisation, financial globalisation, integration of real estate occupier and investment markets and the consequences for the global economy. |
| Procedural | Analyse | Be proficient in the collation, interpretation, synthesis and preparation of materials from a wide range of sources. |
| Factual | Create | Be able to present analysis and findings for a client’s case orally and in written reports. |
| Factual | Analyse | Contribute knowledge and problem solving ability to group activities. |
| Factual | Understand | Understand the national/local market context within which any development proposal must be made. |
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