Real Estate Development Class: Mon. & Tues Real Estate Development Class: Mon. & Tues. 11:50 – 13:20 @ 217 Discussion: Fri. 15:10 – 16:40 @ 218 Instructor: Sena A. Agyepong Email: sagyepong@ashesi.edu.gh Office Hours: Fridays 11:00 – 13:00 or by appointment Office: 205

Sections Course Description Course Objective Learning Outcomes Measurement of Learning Outcomes Required Texts Grading Schedule for Classes and Topics Learning Goals Introduction to Real Estate Development

Course Description The course is intended to introduce students to what real estate development is and what the development process entails. It will seek to provide students with a good overview of what goes into the various stages with emphasis on feasibility studies, financing and management. Assignments (plus a project) to enhance understanding of the Ghanaian industry will be undertaken as well as interaction with industry players. Introduction to Real Estate Development

Course Objective Understand what is meant by real estate development Understand the real estate development process Be able to undertake the necessary feasibility for any development Understand and appreciate the challenges facing the Ghanaian industry Be equipped with basic skills and the knowledge base to provide them with a competitive edge in job hunting Introduction to Real Estate Development

Learning Outcomes Students should be able to: Show a clear understanding of the RED process Undertake an appropriate feasibility for a development Show a good understanding of financing in real estate as well as how the industry in Ghana is financed Show a good understanding of what goes into managing a development Introduction to Real Estate Development

Measurement of Learning Outcomes Journal – 5 points Attendance & participation – 10 points Assignment I –15 points Assignment II – 20 points Mid semester examination – 50 points Project – 30 points Quizzes – 10 points Finals – 40 points Reflection piece – 10 points Discussion – 10 points Introduction to Real Estate Development

Details.... Journal You will be expected to write a 1 page journal of what you know about real estate development and what your expectations are for this class. A maximum of 2 pages will be accepted Attendance & participation Prompt class attendance and participation in discussions, class activities, project etc. Reflection piece At the end of the semester, you will be expected to submit a 2 page reflection piece on what your experience in the class has been, touch on whether your expectations were met as well as provide feedback for improving the course to make it more relevant and fun Introduction to Real Estate Development

Details.... Assignment I Students will be expected to pair up and write a 3 page paper on a partner they will choose from a list of development partners. This will be presented in class and will serve as notes for referencing so do well to research properly for this one. Assignment II Students will be given research topics in groups though this is not a group assignment. Individual students will be expected to write a 3 page paper on the topic (or a slightly modified one). Quizzes 3 quizzes will POP as usual but no worries  they will be friendly ones so just read. It will usually be on the last two previous lectures. 2 of them will contribute towards your grade Introduction to Real Estate Development

Assignment I – Development partners Private and Public sector developers Architects and Landscape architects Urban designers and Land planners Engineers and Contractors Environmental and Transportation consultants Appraisers Lawyers and accountants Real estate leasing agents and sale brokers Financial players Property managers Market researchers Marketing and public relations consultants Regulators Introduction to Real Estate Development

Assignments II - Research Topics History of Real Estate and its Development The Private Real Estate Industry in Ghana SSNIT Housing scheme – purpose, are benefits being met? Challenges? Improvements? Affordable housing scheme – purpose, are benefits being met? Challenges? Improvements? STX housing project – purpose, are benefits being met? Challenges? Improvements? Mortgages in Ghana – will it survive? How so? Land administration in Ghana – any hope? Real Estate Financing – is there any hope for the industry? Introduction to Real Estate Development

Details.... Mid semester examination Our mid-semester exam will be heavy and will cover all that we will treat in class before this time so please do not miss out on it. Questions will range from simple questions that you will be expected to provide simple answers to , to practical application questions. So, do well to take part in all class activities as preparation. Finals This will take a form similar to the mid-semester exam but will be lighter. Introduction to Real Estate Development

Details.... Project This part of the course is supposed to offer a hands on experience. It is supposed to be fun, so do well to enjoy it and not see it as a chore. Students will select an area to undertake a development project, taking roles of the required partners, students will walk through the entire development process. 3 interim reports will be submitted to serve as points of assessment. Detailed modalities will be circulated. Discussion Student will select a day on which they will lead discussion. This is free-style but will earn you points so.... be creative. This will be peer graded. Introduction to Real Estate Development

Required Texts Mike Miles, Marc A. Weis, Gayle L. Berens, Mark J. Eppli. (2007) Real Estate Development, Principles and Process 4th Edition, Urban Land Institute William Brueggeman and Jeffrey Fisher (2011)Real Estate Finance and Investments 14th Edition, McGraw Hill --- student website --- http://highered.mcgraw- hill.com/sites/0073524719/student_view0/ Online journals --- http://business.fullerton.edu/finance/journal/links/default.htm #II Additional text will be provided Introduction to Real Estate Development

Grading, plagiarism, class values Grading Policy: The Ashesi Grading Policy applies so please take note. Also, no late assignments will be accepted nor make-up for quizzes. Plagiarism: Violations of academic integrity will be taken very seriously in this class. Any student found guilty of plagiarism will be severely dealt with by the university. Cheating in assignments, quizzes, exams etc is not acceptable Class values: Integrity, Respect, Punctuality, Tolerance Introduction to Real Estate Development

Ashesi’s Learning Goals Ethics and Civic Engagement Critical Thinking and Quantitative Reasoning Communication Leadership and Teamwork Innovation and Action Curiosity and Skill Technological Competence Introduction to Real Estate Development