Core Course
REC606 – Real Estate Development
Course Unit Code: REC606
Type Of Unit: Compulsory
Level of Course Unit: Second cycle
Year of Study: First year
Semester: Second Semester
Number of ECTS Credits: 7.5
Mode of Delivery
Face to Face
Prerequisites
Principles in Real Estate Valuations, Real Estate Economics
Course Objectives
This course provides a comprehensive exploration of the real estate development process, from concept to completion. It covers key aspects such as site selection, development appraisal, risk analysis, financing, planning, construction, and marketing. Students will gain insights into the dynamics of property markets, sustainable practices, and the integration of emerging technologies like PropTech. Emphasis is placed on practical application, with interactive activities fostering critical analysis and problem-solving skills. By engaging with real-world scenarios, students will develop the knowledge and capabilities to assess development opportunities, manage risks, and deliver projects that align with market demands and sustainability goals.
Learning Outcomes
- Become aware of the stages and phases of the real estate development process.
- Analyse real estate market trends and demand to inform development decisions
- Assess the financial feasibility and viability of property development projects and apply risk management strategies
- Navigate development financing options to support project capitalisation
- Integrate sustainable and environmentally responsible practices into development projects
- Apply urban planning and zoning regulations to property development projects
- Utilise project management techniques to deliver successful real estate developments
Course Content
- Introduction to property development
- Land for development
- Development appraisal
- Development risk
- Development finance
- Property cycles
- Development and planning
- Construction
- Market research
- PropTech
- Marketing and sales
- Sustainable development
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; teamwork; video case studies, team presentations, interactive online learning via Moodle (quizzes, assignments, forums)
Assessment methods and criteria
Participation and interactive activities 48%
Final exam 52%
Readings
Required Readings:
• Reed R. (2021), Property Development, 7th edition, Routledge.
• Miles E., Netherton L.M. and Schmitz A. (2015) Real Estate Development: Principles and Process, 5th ed., Urban Land Institute.
Optional texts
• Peca S.P. (2009) Rel Estate Development and Investment – A Comprehensive Approach, Wiley.
• Geltner D. και Miller N.G. (2001) Commercial Real Estate Analysis and Investments, South-Western.
• Guy S. and Henneberry J. (2002) Development and Developers, Blackwell Publishing.
• Adams, D., Watkins, C., & White, M. (2005). Planning, Public Policy and Property Markets. Wiley – Blackwell.
• Millington, A F (2000) Property Development. London: Estates Gazette.
• Brueggeman W.B. & Fisher J.D. (2011) Real Estate Finance and Investments, 14th edition, McGraw-Hill Irwin.
• Isaac D., O’Leary J. & Daley M. (2016) Property Development: Appraisal and Finance (Building and Surveying Series), 2nd Ed., Palgrave Macmillan.
English (UK) 
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