REMF49-Real Estate Development: Process, Practice and Appraisal

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites:
Modules excluded:
Current from: 2018/9

Module Convenor: Prof Pat McAllister


Type of module:

Summary module description:

The module aims to provide students with an understanding of: the nature of the real estte development process including the activities, agencies, events, relationships, skills and tasks involved; the factors which influence the process and its outcomes; and the types, characteristics utility and quality of buildings and schemes. The module also explores the methodologies involved in the appraisal and financing of development projects.


The module aims to provide students with a practical understanding of:

  • The nature of the real estate development process, including the activities, agencies, events, relationships, skills and tasks involved.

  • The importance of the different actors in the real estate development process and the means by which they achieve their goals.

  • The financial appraisal of real estate development projects.

Assessable learning outcomes:

By the end of this module students should:

  • Understand the nature of and influences on real estate development. 

  • Analyse the varied facets of the real estate development process including the activities, elements, skills and participants involved.

  • Appreciate the nature and role of site evaluation, market research, development finance and risk in real estate development.

  • Understand a range of approaches to real estate development appraisal techniques and use them to assess the viability of development projects.

Additional outcomes:

In addition students will develop their business awareness, written communication and numeracy skills.

Outline content:

The module consists of a range of topics on development process and appraisal including

- Development and developers

- Models of the development process

- Scheme conception and site evaluation.

- Market research for development projects

- Risk in development

- Land valuation and financial feasibility analysis

Brief description of teaching and learning methods:

The course will comprise lecture, class tutorial and problem solving workshops with an individual project assignment acting as a consolidating and integrating vehicle for the taught material. It will be supported by a range of online resources.

Contact hours:
  Autumn Spring Summer
Lectures 30 1
Guided independent study 120 49
Total hours by term 150.00 50.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 100

Summative assessment- Examinations:

Three hours

Summative assessment- Coursework and in-class tests:

Exam: A written examination at the end of the module in the summer term. You will answer three questions from a selection of questions.

Formative assessment methods:

A range of workshop and quiz exercises will be used to help students’ to monitor their learning.

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Assessment requirements for a pass:

The pass-mark for this module is 50%.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate.

Additional Costs (specified where applicable):

Last updated: 31 July 2018


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