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: 2023/4

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 estate 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 an 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.

Assessable learning outcomes:

Upon completion of this module, students should be able to: 

  • Understand the key concepts used to analyse the real estate development process;? 

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

  • Appreciate the sources of development cycles and risks;

  • Understand a range of approaches to real estate development appraisal techniques and use them to assess the financial performance of development projects;

  • Understand the factors influencing the operation of land markets.

Additional outcomes:

Outline content:

The module consists of a range of topics on development processes and appraisal, including:

- Development and developers 

- Models of the development process 

- The operation of the land market. 

- Risk in real estate development 

- Development land appraisal and financial feasibility analysis

Brief description of teaching and learning methods:

The course will comprise lectures, in-class tutorials and problem-solving workshops.

Contact hours:
  Autumn Spring Summer
Lectures 30 1
Guided independent study:      
    Other 69
    Revision and preparation 100
Total hours by term 0 99 101
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 100

Summative assessment- Examinations:

One three-hour exam

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy “Penalties for late submission for Postgraduate Flexible programmes”, which can be found here:
The Support Centres will apply the following penalties for work submitted late:

  • 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 five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.
The University policy statement on penalties for late submission can be found at:
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.

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: 30 March 2023


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