Madrid 2013: the first 2 days

Each year the students on the MSc Real Estate Management/MSc International Real Estate take part in a study visit to Europe which allows them to find out more about the operation of land and property markets in a different institutional context from that found in the UK. This year the students (and staff) went to Madrid, the capital and largest city in Spain.

As part of the study visit, the students were given a project to work on (in groups and individually). The aim of  the project is to integrate a range of core property skills that the students have acquired during the MSc programme in order to address a professional project brief. The students were required to assess specific aspects of the property markets in and around Madrid and report to a 'client' by means of an oral presentation and a written report. During the study visit, the students were able to build on their knowledge through a series of presentations by local experts.

The students travelled to Madrid on Sunday 26 May and celebrated their arrival with a meal at Taberna Maceiras.

First night - photo by Geoff Keogh

Monday 27 May was a day of presentations from local experts. The first was from Tony Loughran, David Dettori and Rupert Lea of Cushman & Wakefield and focused on commercial property investment in Madrid (retail and office sectors). 

Rupert Lea of Cushman & Wakefield talks about retail investment - photo by Geoff Keogh

Listening - photo by Geoff Keogh

The students moved onto the Universidad Complutense de Madrid (one of the oldest universities in the world) for their next presentation on the Spanish Economy, given by Rafael Myro and Belen Rey Legidos (both from UCM). 

Professor Belen Rey discusses the Spanish economy - photo by Geoff Keogh

And onto the final presentation of the day: corporate real estate, given buy Susana Rodriguez of Aguirre Newman.

Tuesday 28 May and the students made their way to the Colegio de Economistas de Madrid and enjoyed a series of four presentations, starting with a presentation on urban planning in Madrid, given by Emilio Martinez Vidal of the Ayuntamiento de Madrid (the municipality). He described the history of the city before explaining the urban planning regime. The master plan for Madrid is under revision, so it was a good time to hear the vision for the future. If you're interested in finding out more, take a look at an article about dense cities which uses Madrid as a case study, find out about the Madrid Rio Project or look at the plan for Madrid 2020 when the city hopes to host the Olympics.

Emilio Martinez Vidal talks about urban planning in Madrid - photo by Geoff Keogh

This was followed by a presentation from Fernando San Juan (Doughty Hanson & Co) on property investment in Madrid. The third session of the day was led by Patricio Palomar (CBRE) and gave an overview of the Madrid office market.

The students listening to Patricio Palomar (CBRE) - photo by Geoff Keogh

The final session focused on 'changing times for high street retailing' and the presentation was given by Carlos Rodriguez from Retail Valuation Iberica, who also talked a bit about the RICS in Spain. After the session Carlos joined staff for dinner.

Carlos Rodriguez (left) with David Shiers - photo by Geoff Keogh

The end of the second day! Take a look at days 3 and 4 on the next blog post.