Course content

The course provides knowledge of real estate development, strategic thinking, key development processes, and an understanding of stakeholders, their needs, objectives, methods, and development trends. It aims to give a solid understanding of the qualitative, architectural, and locational aspects of real estate development, as well as the context in which real estate development projects take place. The course also addresses the sustainability perspective in urban and community development.

The course includes:

• Real estate development and planning
• Objectives and stakeholder analysis
• Economic and market assessment of real estate development projects•
• Real estate portfolios
• Contract content and design
• Ethics and sustainability

Emphasis is placed on site analysis, process analysis, market analysis, and concept development.

Learning outcome

Knowledge - The candidate:

• has in-depth knowledge of the key elements of real estate development and the implementation of development projects, and how these relate to a sustainability perspective;
• has solid knowledge of the main stakeholders, as well as methods and tools related to goal definition, feasibility studies, and needs assessments;
• has sound knowledge of location theories and planning prerequisites for real estate development;
• has good knowledge of development trends, and economic and market assessments of real estate projects.

Skills - The candidate:

• can analyze and critically assess various information sources related to real estate development and use these to structure and formulate professional reasoning;
• can make independent assessments and analyses of projects’ critical frameworks, process requirements, profitability, and risk profile, and work strategically to develop projects aimed at value creation and sustainable development;
• can apply tools for economic calculations and other relevant evaluations in different phases of real estate development;
• can use relevant theory to discuss key issues related to real estate development and provide recommendations for improvements based on this;
• can work independently and in groups to carry out a project under supervision and in accordance with best practice.

General Competence - The candidate:

• can independently work on early-phase design of real estate projects in response to framework conditions and make ongoing assessments to iteratively align with chosen objectives;
• can use relevant terminology and concepts related to real estate development and communicate results from independent project work both in writing and orally in a structured and clear manner;
• has a well-developed understanding of professional and ethical integrity and scientific reflection.

Learning methods and activities

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

Compulsory assignments

• Mandatory exercises

Recommended previous knowledge

Real estate development is linked, among other things, to architecture, urban planning, and market adaptation. It may therefore be beneficial for students to have prior knowledge in these areas through previous studies or work experience.

Required previous knowledge

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