REMB16: Real Estate Development

Module code: REMB16

Module provider: Real Estate and Planning; Henley Business School

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Semester 1

Module convenor: Professor Pat McAllister, email: p.m.mcallister@henley.reading.ac.uk

Pre-requisite module(s): BEFORE TAKING THIS MODULE YOU MUST TAKE REMB31 OR TAKE REMB05 (Compulsory)

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 28 May 2024

Overview

Module aims and purpose

This module provides a course of study that focuses on the property development process. The moduleaims to provide students with anunderstanding of:

• different perspectives on thereal estate development process;
• the activities, participants, events, relationships, skills and tasks involved in the real estate development process; and 
• a technique for the financial appraisal of development projects. 

The content of the module is focused on some of the practicalities of real estate development, as well as on the broader context in which development takes place. There is an emphasison applyingand linkingconcepts from economics, political economy and finance in order to help students to develop their understanding of real estate development as a multidisciplinary process.In addition, students will develop a practical and applied understanding of the financial modelling of real estate development projects. 

Module learning outcomes

By the end of the module it is expected thatstudentswillbe able to: 

• critically evaluate conceptual models to analyse the development process.  
• demonstrate a comprehensive understanding of the operation of land markets. 
• critique the variety of different types of developers and their objectives. 
• rigorously analyse therisk management in real estate development projects.  
• apply and critique a range of techniques used in the financial appraisal of real estate development projects.

Module content

• Models of the real estate development process. 
• Types of real estate developer and real estate development. 
• Real estate development cycles. 
• Construction, procurement and project management. 
• Different approaches to land acquisition. 
• Development appraisal and finance.
• Identifying and managing risk in the real estate development process.

Structure

Teaching and learning methods

The module will be delivered as a block release with post course support. The block release teaching will comprise 4 days of lectures, andproblem solvingworkshops, with atwo-partassignment acting as a consolidating and integrating vehicle for the taught material. 

The block release taught element will be supportedby the use ofBlackboard. The module information, handouts, presentations and assignments will be posted here. Discussion between students on technical aspects of the assignment is encouraged and multiple choice formative tests with instant feedback answers will be used for students to self-assess understanding throughout the module week. There will be additional online learning support.

Study hours

At least 24 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

A range of workshops and multiple choices tests are used during the module with students provided with feedback.

Reassessment

Additional costs