MSc Real Estate: Lisbon 2014

The MSc Real Estate students 2013-14 (photo by Andressa Minogue)

Each year the students on the MSc 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 Lisbon, the capital of, and largest city in Portugal. Lisbon is recognised as a global city because of its importance in finance, commerce, media, entertainment, arts, international trade, education and tourism. It is one of the major economic centres in Europe, with a growing financial sector and one of the largest container ports on Europe's Atlantic coast (thanks Wikipedia). Besides typical and enchanted streets and quarters full of history, Lisbon is also known for its modern, bold architecture and urban creativity. Expo '98 revolutionized Parque das Nações, linking Lisbon with the future. It turned out to be one of the most ambitious national projects of urban development of the 20th century.

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 Real Estate in order to address a professional project brief. The students were required to assess specific aspects of the property markets in and around Lisbon 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.

After travelling over on Sunday 25 May...

In transit (photo by Andressa Minogue)

...it was straight down to work first thing on Monday morning with a session on Urban Planning in Lisbon, presented by Pedro Grilo (Project Manager and Policy Adviser at Lisbon Municipality). Pedro Grilo is also part of the Lisbon/Europe 2020 Mission Team (Europe 2020 is the EU's growth strategy for the coming decade).

In the Lisbon Urban Information Centre with Pedro Grilo from Lisbon Municipality
(photos by Geoff Keogh and Andressa Minogue)

After lunch, the students went back to the Lisbon Urban Information Centre for the following sessions:

• Lisbon market overview: office and retail property, presented by Paulo Silva and Paula Sequeira from Aguirre Newman.
• Portuguese property investment funds, presented by Rui Alpalhão from Fundbox and ISCTE Business School.

On Tuesday 27 May, the students didn't have to move far as they stayed in their hotel (Hotel Fenix Urban) for the following presentations:

• Retail property market, presented by Eric van Leuven from Cushman & Wakefield
• Portuguese property law, presented by Nuno Moura Roldão from Ferreira Pinto
• Portuguese shopping centres - an overview, presented by Pedro Teixeira from APCC 
• Commercial property investment market, presented by Joana Fonseca and Guilherme Ferreira from Worx (in association with Knight Frank)

Tuesday's presentations: Nuno Moura Roldão (main picture), Pedro Teixeira (top right) and Joana Fonseca/Guilherme Ferreira (bottom right) (photos by Geoff Keogh)

The theme of Wednesday 28 May was out of town office and retail development and investment. The students enjoyed presentations and tours as follows:

• Shopping centre development, investment and management, presented by Susana Lourenço from Sonae Sierra
• Management of Centro Colombo, presented by Hugo Fernandes from Sonae Sierra
• Lagoas Park: development, investment and management, presented by Isabel Simões Correia from Teixeira Duarte
• Almada Forum: shopping centre marketing and management, presented by Alexandra Santos and Paulo Alves from Multi Mall Management
• Freeport: outlet shopping and leisure centre management, presented by Nuno Oliveira from Freeport Leisure

Almada Forum with Paulo Alves and Alexandra Santos (main picture) and Hugo Fernandes from Centro Columbo (top and bottom right) - photos by Geoff Keogh

Thursday 29 May, and the last working day of the field trip. The students (and staff) spent the morning preparing for the presentations and client meetings in the afternoon. And then, the field trip was rounded off with the final meal and prize giving (prizes by Nick French). Most of the students stayed on in Lisbon for the weekend (relaxing).

The final meal and the students and staff had the restaurant to themselves (photo by Andressa Minogue)

Nick French giving out the field trip prizes (photos by Geoff Keogh).

If you are interested in finding out more about the MSc Real Estate, take a look here (blog posts) and here (website). And finally...

The staff team and field trip organisers
(l-r: Nick French, Andressa Minogue, Geoff Keogh and David Shiers)