CERTIFICATE COURSE: “INTRODUCTION IN THE REAL ESTATE INVESTMENTS”

CERTIFICATE COURSE
Introduction in the Real Estate Investments

Instructors:
Mr. Muhammed Cevahir, MRICS, Cevahir Holding Property Investments Director
Mr. Vlatko Bogoevski,  MRICS, managing director of Cushman&Wakefield/Forton MKA in Skopje

Class meets:
13 February 2019
15 February 2019
20 February 2019
27 February 2019

(15 min. break after 1-hour class)

Office or additional hours: available by appointment

Course Description: Introduction to Real Estate, is designed to give students a solid understanding of commercial real estate. The ownership, development and management of real estate has traditionally been a major economic driver and means of wealth creation. Increasingly it has grown in importance as an asset class in for institutional investors, and presents a wide array of career opportunities. In addition to learning about major and secondary property types included in commercial real estate, students will learn through formal (real examples in Macedonia of property transactions, the processes of running and operation the buildings) and nonformal (on-site practice) the basics of property management, brokerage, property valuation, risk analysis, development and due diligence. At the end of the course, students will be able to demonstrate they understand: The major property sectors and their relative strengths and weaknesses. Fundamentals of commercial development, brokerage and leasing Fundamentals of the capital market for real estate.

Course modules:

Module 1

1. What is real estate

– Overview of the major property types (retail, office, industrial, hotel, residential)

2. Brokerage services and fundamentals

– Meet the leasing and sales team on site, tour the properties (CEVAHIR SKY CITIES and CW/FORTON MKA)

Module 2

3. Valuation methodologies and fundamentals

– DCF, Comparable, Income-Capitalisation approach (Hyperium Business Center transaction)

4. Why they are so important – Global, Professional and ethical standards in the Real estate business

– RICS – Ethics tests examples

Module 3

5. Property management fundamentals, importance and transparency

– On-site tour in the biggest residential property management building in Skopje
– Learn from the best practice – Most common issues and solutions

Required textbook and readings by RICS:

  • Context for the Red Book 2017
  • Contents of the Red Book 2017
  • The international angle (IVS 2017)
  • Rules of conducts, AML, Bribery and corruption, ethics, conflict of interest
  • Service chare in commercial properties 1st edition
  • Service charge residential management Code and additional advice to landlords, leaseholders and agents 3rd edition
  • Real estate agency and brokerage 3rd edition

Course Requirements:

More specifically:

  • Attend class – take instructors notes, which can be used as a guideline;
  • Participate in class discussions;
  • Participate in cases analysis;
  • Think critically on the issues presented in the classroom;
  • Avoid absences;