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Course Schedule
Classroom Sessions:
Date Venue Fees
10 - 14 Jun 2024 Geneva - Switzerland $5,950
09 - 13 Dec 2024 Geneva - Switzerland $5,950
Course Description

INTRODUCTION

This GLOMACS Strategic Real Estate Management training course covers the methods, concepts and application of real estate investment and ownership. The central objective is to place delegates in the position of property owners or tenants and provide them with the tools to make the right decisions to maximise real estate value for their organisation.

Delegates will therefore analyse real estate investment opportunities and property operations from a strategic, financial, legal and management perspective, developing feasibility studies, budgets, and management plans in the same way as a chartered surveyor and a professional corporate property manager. The focus is on properties and market conditions in the Middle East, but with plenty of international examples, and analysis of relevant accounting, legal and property management material applied to different classes of property such as offices, retail, hotels, residential and warehouses.

This Strategic Real Estate Management training course will highlight:

  • Create detailed knowledge of the issues problems and opportunities for the property industry in the Middle East and worldwide
  • Know how property sectors have performed and how they risks compare in Middle East jurisdictions and worldwide
  • Develop a greater understanding of the role of property within the overall development and investment strategy of an organisation
  • Enhance the management and organisational skills necessary for effective property management
  • Be able to assess tenant quality and real estate opportunities in the current business environment

Training Methodology

This training course will be thoroughly interactive, reinforcing learning through practical real-world exercises and examples throughout. Delegates may be asked to perform calculations, analyse financial aspects of the case, and draw conclusions, or make presentations to other groups regarding the case. The interactivity generated by the case study process, as well as by contributions by delegates within the course. Generally, encourage questions and discussion throughout to make the course learning experience worthwhile for the delegates.

WHO SHOULD ATTEND?

This GLOMACS Strategic Real Estate Management training course is suitable for a wide range of delegates, as real estate enters onto the working lives of almost all professionals. It will greatly benefit those who develop, finance, manage, buy, or sell real estate, especially:

  • Real Estate Investors (including pension funds, private equity firms, REITs, REOCs, insurance companies, and opportunity/hedge funds)
  • Investment Bankers, Fund Managers, and Finance Professionals engaged in real estate investment.
  • Professionals engaged in real estate acquisitions, dispositions, asset and fund management, leasing, and marketing
  • Developers, planners, land, and construction professionals.
  • Real Estate Valuers
  • Real Estate Developers (especially those with a develop-and-hold strategy)
  • Bankers and Lenders
  • Public and Private Sector Property and Facility Managers
  • Property Tenants (e.g., major retailers, banks, government agencies or industrial companies)
  • Institutional lenders such as banks, life insurance companies, and pension funds
  • Lawyers, Accountants and other Consultants advising the real estate industries
Course Outline

DAY 1

Urban Economics

  • Why and how do cities develop?
  • Understanding real estate economics, land pricing and development
  • Comparing city development in the Middle East and worldwide
  • Real estate within the larger global economy
  • Changes in real estate markets – the impact of technology
  • Government responsibiltiies, housing affordability, and public policy
  • Urban planning in practice
  • Review of Relevant Property and Conveyancing Law

DAY 2

Real Estate Economics Applications in Practice

  • Integrating real estate economics and market analysis
  • Developing a detailed market study
  • Forecasting techniques for real estate
  • Site selection and analysis
  • The theory and practice of Highest and Best Use
  • Identifying and analysing real estate cashflows
  • Combining techniques for a feasibility study
  • Risk Analysis for real estate

DAY 3

Valuation Principles and Standards

  • Property Performance Analysis
  • Governance Issues and Valuation
  • Valuation purposes and their importance
  • RICS Valuation Practices and international comparisons
  • Relevant IFRS standards for real estate and their application
  • Comparison with corporate finance valuation
  • The role of Sustainability in Valuation
  • Reporting according to RICS and IFRS standards
  • The role of Real Estate Valuation in the Middle East and worldwide

DAY 4

Real Estate Valuation Methodologies

  • Land and Residential Valuation
  • Measurement criteria for land and residential real estate – hedonic approaches
  • Creating and Using a Detailed Discounted Cash Flow (DCF) Model for income-generating real estate
  • The Sales Comparison Approach
  • The role of leases in Real Estate Valuation
  • The Cost Approach and Idiosyncratic Valuations
  • Real Estate Valuation and the Cost of Capital
  • Real Options theory and Real Estate Valuation in Practice

DAY 5

Real Estate Valuation in Practice

  • Practical issues in Real Estate Valuation worldwide
  • Application of land and property valuation in Middle East jurisdictions
  • Differences between jurisdictions
  • Building Codes and Regulations across the Middle East
  • What to look for in a valuation report?
  • What are the differences between countries?
  • Due Diligence on real estate valuation reports
  • Automation, real time, and the future of Real Estate Valuation
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