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									The Real Estate Academy


 The Real Estate Executive
  Development Program




      January – June 2011
        AUC New Cairo
PROGRAM OVERV IEW

Real estate is a unique and heterogeneous sector. Throughout the various stages of the real estate life
cycle, different knowledge and skill sets are required such that architects, engineers, cost consultants,
project managers, marketing agents, contractors, facility managers, asset managers, valuers, appraisers,
tenants and investors of all types of properties could make effective and successful decisions with regard
to real estate opportunities presented to them.

Egypt has a large consumer base of 80 million residents and a rapidly growing economy, which have both
translated into increasing demand and significant real estate development. Despite the global recession,
Egypt’s GDP at market prices is $188 billion (2009) and is estimated to grow by 7 percent throughout
2015-2020. It has become a favorite destination not only for tourists, but for major global corporations
investing in the economy and more so in the real estate market. There are now regional and international
real estate players within the Egyptian market who have presented new opportunities for development and
investment, but are Egypt’s real estate key players ready for the game?

The International Executive Education Institute of the American University in Cairo and the Department
of Real Estate Studies of the National University of Singapore are partnering to offer the Real Estate
Executive Development Program (RE-EDP). Essentially, the RE-EDP is a seven-module program over
19days. It covers a wide spectrum of activities such as real estate development and marketing, real estate
economics and market analysis, real estate investment and finance, real estate pricing and appraisal,
property and facility management within the context of real estate law, as well as urban land use and
planning of the Egyptian market.

RE-EDP is a holistic program covering the four main areas of real estate: residential, commercial,
touristic and industrial. The program combines theory and hands-on experience through a five-day study
tour to Singapore to witness firsthand a model of a mature real estate market.

T HE R EAL E STATE A CADEMY
The Real Estate Academy was established following the recommendation of the Real Estate CEO
Roundtable Series, which was held in Cairo in November 2009. The academy was developed in
partnership between the real estate sector in Egypt, with the support of Dar El Mimar Group - Mountain
View, the founding corporate partner of the Real Estate Academy; The American University in Cairo; and
the National University of Singapore.

The Real Estate Academy aims at providing Egypt’s large and robust real estate market with exposure to
cutting-edge global trends through superlative executive education programs, as well as establishing a
common language in the field of real estate.




                                                                                           Page 1
T HE R EAL E STATE E XECUTIVE D EVELOPMENT P ROGRAM
The Real Estate Executive Development Program will be covered in seven modules over a period of six
months. It includes a five-day site visit to Singapore to witness firsthand a model of a mature real estate
market.

The program is designed to provide participants with a good understanding of the principles and practice
of urban land use and planning, real estate development and marketing, real estate law, investment,
valuation, finance, economics, pricing, appraisal, brokerage, property and facility management.

Course material is designed to equip participants with useful practical tools for effective real estate-
related decision making. Participants will gain an appreciation of the success factors in the real
estate field and will be given the opportunity to apply their skills and knowledge through hands-on
practical experience.



KEY BENEFITS
  • Developing a good understanding of real estate best practice and principles through applying global
    standards to the domestic market, under the supervision of top-notch international experts and local
    specialists

  • Acquiring insight into the latest global trends in real estate to effectively make successful decisions

  • Discovering valuable real-world knowledge while networking with a group of professional peers

  • Attaining hands-on practical experience and benefiting from interactive panel discussions to review
    and debate current real estate cases

  • Providing a forum for stakeholders in the real estate sector to engage in dialogue that helps enhance
    the real estate market



W HO S HOULD A TTEND

                                                          The Real Estate Executive Development
                                                          Program is designed for managers of functional
                                                          areas and division heads of large companies,
                                                          managing directors, chief executive officers and
                                                          vice presidents of medium-size and newly
                                                          established companies in the private and public
                                                          sectors of the real estate industry, as well as
                                                          managers in financial institutions with
                                                          substantial business in real estate investments.
                                                          Participants should have at least eight years of
                                                          work experience.




                                                                                             Page 2
PROGRAM CONTENT

2011 Modules*

Dynamics of the Real Estate Industry
January 13(one day)

This one-day forum will set the scene for the RE-EDP. It will include prominent speakers who will touch on current
local and global trends in the real estate sector, the real estate development tradition in Egypt, as well as the roles and
functions of various stakeholders in the development process including architects, engineers, cost consultants, project
managers, marketing agents, contractors and facility managers. It will also pose as an introduction to Singapore’s real
estate experience.

Module One: Urban Land Use and Planning
January 20, 27(two days)

This module examines all key aspects of urban land use and planning including strategic planning dimensions
(economic, environmental and social), physical aspects of planning, current plans within Egypt, plans for informal
settlements, inner city renewal and revitalization, and global best practice in Paris, Kuala Lumpur and Abu Dhabi. The
module will discuss global trends with local relevance and application within Egypt.

Module Two: Real Estate Development and Marketing
February 12 – 13, 17 (three days)

Real estate is a unique industry that requires an understanding of its life cycle and development process. This module
will examine the real estate development and marketing processes. Discussions will cover market feasibility and
analysis, land acquisition and assembly, financial analysis and viability, design and cost analysis, as well as project
financing and marketing strategies. This module will also highlight “green” concepts in real estate construction and new
trends in development that encourage environmentally friendly construction designs.

Module Three: Laws Governing Real Estate
March 3, 10, 17 (three days)

This module is designed to focus on Egypt’s real estate law. It will cover topics such as titles and property rights,
procedures for Egyptians and non-Egyptians to own real estate, special regulations for real estate ownership, finance and
construction law, taxes and tenant associations. It will also include a discussion of international standards for contracts
with stakeholders such as designers and contractors.

Module Four: Real Estate Investment and Finance
April 9 – 11 (three days)

This module will examine real estate as an asset class and will provide essential knowledge for analyzing real estate
investment issues and finance problems. Discussions will include real estate finance institutions, mortgage mechanics
and instructions, housing finance analysis, property derivatives, real estate securities, leasing structure and property
income analysis, performance measurement and attribution, financing leverage and after-tax returns, international real
estate investment issues and building a global portfolio.




                                                                                                    Page 3
Module Five: Economics of Real Estate Space and Market
May 5, 12, 19 (three days)

This module will combine microeconomic and macroeconomic perspectives of the real estate market according to
property type (residential, commercial, industrial and touristic) within the context of an urban economy. It will explore
the conceptual framework for analyzing real market conditions and trends. The macroeconomic analysis will include the
four-quadrant model of real estate markets, a comparison between real estate gluts and shortages, and market adjustment
processes. The microeconomic analysis examines front-door and back-door real estate valuation and stress-testing
simulation to study the critical impact of a multitude of external shocks such as inflationary pressures, public auctions
and various unanticipated government policies on the operation of real estate developers. The pricing and availability of
off-plan and mortgage financing on consumer behavior will also be addressed. Case studies will be extensively used as a
teaching tool to illustrate real-market analysis and practical know-how application of what is learned throughout the
module.

Module Six: Real Estate Pricing, Appraisal and Brokerage
June 4 – 5 (two days)

The efficient functioning of the real estate market requires an understanding of the concepts of market value, price and
rent. Real estate appraisal is a professional discipline that provides analysis and assessment of real estate rental and
capital values, which are fundamental for transactions, lending and taxation. This module examines the rationale and
purposes of valuation and real estate investment such as valuation for sales, purchase, mortgage, insurance and
brokerage. Discussions will include valuation methods for different types of properties, the nature and scope of
valuation, value theory, the valuation function and role of the valuer, leasehold valuation, property taxation and
compulsory acquisition of real estate properties. Case studies in Singapore and Asia Pacific will be examined and
discussed as the main focus of this module.

Module Seven: Property, Facilities and Asset Management
June 18 -19 (two days)

Real estate requires management, whether it is utilized as a physical space or regarded as a financial investment.
Property and facility management includes an appreciation of construction and design and how these factors include
obsolescence and maintenance, as well as an understanding of the various strategic and operational plans to satisfy both
owners and occupiers. As a physical asset, especially of business concerns, aspects of corporate asset management are
also important. This module features strategic considerations in property and facility management including advanced
tools and techniques in managing the physical asset and in delivering an enabling workplace environment. Discussions
will include strategic facility planning, space management cost control, and management information systems and
outsourcing.




  “The future holds great promise, for the development of expertise in real
  estate education, in a rapidly urbanizing country, in which real estate
  development is a huge priority”

                  ~ Professor Andrew Baum, University of Reading, UK




                                                                                                  Page 4
S INGAPORE S TUDY T OUR


Site Visits: May 22 - 27, 2011


Urban Redevelopment Authority– Government Statutory Board

The Urban Redevelopment Authority (URA) is Singapore’s national land use planning authority. The URA
prepares long-term strategic plans as well as detailed local area plans for physical development, and then
coordinates and guides efforts to bring these plans to reality. Prudent land use planning has enabled Singapore to
enjoy strong economic growth and social cohesion, and to ensure that sufficient land is safeguarded to support
continued economic progress and future development. This trip provides participants with the opportunity to visit
the URA gallery, where exhibits trace Singapore’s urban development through the decades and feature the
challenges faced in ensuring optimum land use to meet the country’s needs while enhancing people’s quality of
life.


Housing and Development Board– Government Statutory Board

The Housing and Development Board (HDB) is Singapore’s public housing authority and statutory board under
the Ministry of National Development. Initiated in 1960, HDB contains statistical information regarding
Singapore’s land and population, landuse distribution and the finance structure for public housing. It offers various
home ownership schemes targeting different segments of the community as well as programs for direct ownership
from HDB and resale open-market scheme. HDB’s key priority is to build towns that provide various commercial,
recreational and social facilities and amenities for the convenience of their residents, thus enabling them to meet
changing needs and circumstances. They improve and upgrade features and facilities of older estates and towns to
ensure their vibrancy and continued relevance. The latest rejuvenation program is the Remaking Our Heartland
plan ––a 20-30 year plan designed to transform HDB estates and towns into a world-class living environment.


Jurong Town Corporation– Government Statutory Board

The Jurong Town Corporation (JTC) is responsible for establishing and nurturing Singapore’s robust and broad-
based industrial property market. JTC plays an extensive role in developing and managing a wide portfolio of
industrial properties including industrial, science, business and logistic parks; Seletar Aerospace Park; Paya Lebar
iPark; Jurong Island; Wafer Fabrication and Advanced Display Park; Start-up Technopreneur Centre; as well as
One-North which includes Biopolis (a research and development hub for biomedical industries) and Fusionopolis
(a research and development hub for infocomm technology, as well as media, physical sciences and engineering
industries). This trip presents participants with the opportunity to visit JTC headquarters located at the JTC
Summit, as well as its 600-square meter gallery, which houses an interactive exhibition and visitor center.




                                                                                                 Page 5
Keppel Land Limited - Private Developer

Keppel Land Limited is the property arm of Keppel Corporation, one of Singapore’s largest multinational groups
with key businesses in offshore and marine infrastructure and property. The core business of the company focuses
on property development and fund management. Based on total assets, Keppel Land is one of the largest listed
property companies on the Singapore Exchange, with total assets worth $6.8 billion as of the end of September
2009. It is also part of the FTSE Straits Times and EPRA/NAREIT indices. A leading prime office developer in
Singapore, Keppel Land redefines the city’s skyline with landmark developments such as Ocean Financial Centre,
One Raffles Quay and Marina Bay Financial Centre. Keppel Land is also Asia’s premier home developer with
world-class iconic waterfront homes at Keppel Bay and Marina Bay. It holds a total land bank of more than 100
million square feet and 60,000 homes across Asia and the Middle East to tap on the demand for quality housing in
emergent world-class cities. This site visit gives participants the opportunity to visit a variety of residential
condominiums and office buildings developed by Keppel Land.


CB Richard Ellis - Real Estate Consultancy Firm

CB Richard Ellis (CBRE) is one of the world’s premier real estate consultancy service companies. Operating
globally, CBRE holds a leadership position in virtually all of the world’s key business centers. Whether it is a
local, regional, national or global assignment, CBRE applies insight, experience, intelligence and resources to help
clients make informed business and real estate decisions. This site visit provides participants with the opportunity
to tour CBRE headquarters and gain insight into their wide spectrum of real estate consultancy services including
property and facility management, real estate investment decision making, project marketing, leasing and portfolio
management, valuation and advisory services, development consultancy, market research and analysis, as well as
the management of real estate investment trusts


    * Slight change in dates may occur. In case of change, applicants will be notified by email and new dates will
    be posted on IEEI website: www.aucegypt.edu/Business/ieei




                                                                                                    Page 6
L EAD F ACULTY
Dr. Ayman El Hefnawi

Vice Chairman, General Organization for Physical Planning, Ministry of Housing and Urban
Development.

Dr. Joseph Ooi

Associate Professor, Department of Real Estate, National University of Singapore

Mr. Mohamed Serry

Attorney-at-Law, Serry Law Firm

Dr. Liow Kim Hiang

Associate Professor, Department of Real Estate, National University of Singapore

Dr. Andrew Baum

Director of Enterprise, Professor of Land Management, University of Reading, UK.

Dr. Monal Abdel Baki

Professor of Economics, School of Business, The American University in Cairo

Dr. Yu Shi Ming

Associate Professor and Head of Real Estate Department, National University of Singapore

Mr. Stan Mitchell

CEO, Key Facilitates Management, UK



R OYAL I NSTITUTION OF C HARTERED S URVEYORS “RICS”

                    The Royal Institution of Chartered Surveyors (RICS) is the world’s leading
                    professional body for qualifications and standards in land, property and construction,
                    with more than 100,000 professionals practicing in markets around the world.
                    Attaining the RICS chartered status is the recognized mark of property
                    professionalism worldwide.

                    The RICS Regional Board for the Middle East, Near East and Africa has agreed to
                    consider courses offered by The American University in Cairo under its accreditation
                    process with a view to forming a long-term relationship with two leading educational
                    establishments. The International Executive Education Institute will introduce
                    participants in the Real Estate Executive Development Program to the appropriate
                    RICS certification in their area of specialization and will facilitate their assessment by
                    RICS.




                                                                                              Page 7
A DMISSIONS C RITERIA & P ROCESS

•   Admissions Criteria: Selective enrollment of the most qualified and diverse group enhances the
    overall learning experience. The admission committee looks for applicants who have
    management responsibilities with diverse skills and experience. In seeking senior executives with
    demonstrated promise, the committee takes into account the applicant’s organizational level,
    management experience, career goals and ability to contribute to the program. The committee
    may require a telephone or personal interview as part of the admission process.
•   Language: All modules will be taught in English, except the Law module which will be taught in
    Arabic and English. There is a considerable amount of reading material including presentations,
    cases and articles. Therefore participants need to have a strong command of the English language
    to be able to understand the content as well as actively participate in group discussions.
•   Application: Online application is available at www.aucegypt.edu/business/ieei. Applications are
    reviewed upon submission and accepted on a rolling basis. Early application is strongly
    recommended, as space is limited.
•   Certificate: AUC’s International Executive Education Institute and the National University of
    Singapore award a joint certificate upon the successful completion of the Real Estate Executive
    Development Program. Participants must attend at least 80% of the program to receive the
    certificate. Attendance for the Singapore five day study tour is not accounted for as part of the
    80% required for certification.
•   Fees: Fees for the Real Estate Executive Development Program fees are $11,000. This includes
    fees for the training program which costs $10,000 covering tuition, books, material and a
    certificate, as well as fees for the Singapore five-day study tour, which costs $1,000 covering
    field visits only. Participants are responsible for their visa, travel arrangements and
    accommodation in Singapore. NUS will recommend a hotel and negotiate preferential rates for
    RE-EDP participants.
•   Cancellation Policy: Participants who cancel 30 calendar days prior to the start date will receive
    full refund of the tuition fees. Participants who cancel less than 30 days in advance will not
    receive a refund, but may nominate another participant or attend a future session of the program
    within one year. Cancellation requests must be received in writing.




                                                                                         Page 8
AUC - I NTERNATIONAL E XECUTIVE E DUCATION I NSTITUTE
Located in the suburb of New Cairo, on the outskirts of the capital city, is the 260-acre state-of-the-art
AUC campus. Weaving Egyptian urban and architectural traditions into the design of a modern campus,
AUC New Cairo is spacious, technologically advanced and environmentally friendly. It is considered the
most progressive campus in the region, having received a special award from the Urban Land Institute in
2009 for its construction and design. It houses modern classrooms, laboratories, lecture halls and other
essential facilities to support current and future teaching methods, curricula and educational technologies.

The Abdul Latif Jameel Hall is home to the School of Business and the International Executive Education
Institute, which offers the Real Estate Executive Development Program.

International Executive Education Institute

Building on more than 30 years of experience in offering professional development programs in Egypt,
the Arab region and Africa, The American University in Cairo established the International Executive
Education Institute (IEEI) in 2008 to be the leading regional platform for world-class executive
development and networking. IEEI’s mission is to enable current and emerging business leaders to master
the necessary tools to grow their businesses in a challenging global environment.

N ATIONAL U NI VERSITY             OF S INGAPORE - R EAL E STATE D EPARTMENT
Starting out in 1905 as a small medical college, the National University of Singapore (NUS) is
internationally acknowledged as a global university of high standing. Its rich heritage and achievements
over the century are broadly captured in the succession of chancellors and vice-chancellors, who have led
the university and drove NUS toward achieving many milestones.

R EAL E STATE D EPARTMENT :
The National University of Singapore’s Department of Real Estate was established more than 40 years
ago. It aspires to make significant contribution to the body of knowledge concerning the value and
management of the built environment at national, regional and international levels. NUS is one of the
leading universities globally in the field of real estate, ranking as the top Asian university. NUS ranks
globally among the top 10schools in real estate research.



C ONTACT I NFORMATION
The International Executive Education Institute (IEEI)
School of Business
The American University in Cairo
ieei@aucegypt.edu
www.aucegypt.edu/business/ieei
tel:    20.2.2615.3194 - 20.2.2615.3177
mobile: 2017 3815065
fax:    20.2.2797.4915




                                                                                            Page 9

								
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