Course content

The course will provide knowledge about real estate development, strategic thinking, main development processes, understanding of actors and their needs, goals, methods and development trends. It gives a good understanding of the qualitative, architectural and urban aspects of real estate development, and the context in which real estate development projects take place. The course highlights the sustainability perspective in urban development. The course content: - Real estate development and urban planning - Land use (residental and business) - Location theory - Market and development appraisal - Real estate portfolio - Real estate development processes and agreements . Weight will placed be on site and context analyses, market evaluations and feasibility studies.

Learning outcome

KNOWLEDGE - the student;• has good knowledge of the most important elements of real estate development projects and how this can be related to a sustainability perspective; • has in-depth knowledge of property development, the key players and methods and tools related to target definition, feasibility studies and needs assessments; • has in-depth knowledge of localization theories and the planning assumptions that exist for property development; • has good knowledge of trends, financial and market assessments of property projects; • has in-depth knowledge of how property development projects can be carried out and contractual issues related to this; • has in-depth knowledge of different tools related to calculations, risk management and strategies that can be used in different phases of property development

SKILLS - the student; • can analyze and relate critically to various information sources related to property development and apply these to structure and formulate professional reasoning; • can conduct independent assessments and analyzes of the projects' critical frameworks, process requirements, profitability and risk profile, and work strategically to develop projects in terms of value creation and sustainable development; • can use relevant theory and empiricism to discuss important issues related to property development and make recommendations on improvements based on this; • can conduct an independent, limited project / case study under supervision and in accordance with good practice

GENERAL COMPETENCE - the student; • has in-depth knowledge and understanding of property development, the various phases and how different factors affect the process and outcome; • has a good understanding of the qualitative, architectural and urban aspects of real estate development, and the context in which real estate development projects take place; • can work independently on property development projects and make the necessary economic and market assessments of real estate projects and weigh them against other important framework factors; • can use relevant academic terms and expressions related to property development and disseminate results from independent project work both in a structured and clear manner; • has a well-developed understanding of professional and ethical integrity and critical reflection

Learning methods and activities

Lectures, workshops / exercises, group work / project assignment. Many lectures are given in collaboration with external industry people.

Recommended previous knowledge

AAR4815 Planning and Building Process and AAR4235 Real estate economics; or equivalent courses.

Required previous knowledge

Completed three years basic courses in architecture, geography, planning, civil engineering, economics, real estate / facility management or equivalent bachelor degrees.

Requires good language skills in Norwegian.

Course materials

Textbook: Leikvam og Olsson, 2022, Eiendomsutvikling;

Recommended texts: Børrud, E., & Røsnes, A. E. (2016). Prosjektbasert byutvikling : mot en kvalitativ, prosjektrettet byplanlegging. Samset, K. (2008). Prosjekt i tidligfase; Bærug, S (2017). Verdsetting av fast eiendom.

Industry reports and academic articles.