BSc in Quantity Surveying and Construction Management

108 Pages·2010·0.7 MB·English

Neapolis University of Pafos

School of Architecture, Land and
Environmental Sciences

BSc in Real Estate Valuation  
and Development
TABLE OF CONTENTS 
1.  THE VISION OF THE SCHOOL  5 
2.  PROGRAMME AIM AND OBJECTIVES  5 
3.  LEARNING OUTCOMES  6 
4.  PROGRAMME DURATION  6 
5.  MODES OF TEACHING  6 
6.  TEACHING AND LEARNING STRATEGY  7 
"Learning by Doing"  7 
Student‐Centred Learning  7 
Course Attendance  8 
Class Preparation  8 
Class Participation  8 
7.  PROGRAMME STRUCTURE  8 
8.  PROGRAMME SYLLABI  10 
CONS101 Construction Technology I  11 
CONS102 Construction Technology II  13 
CONS103 Construction Graphics and CAD  15 
CONS201 Building Pathology  16 
CONS202 Building Services Engineering  18 
CONS300 GIS Basic Principles and Applications  20 
CONS302 Construction Economics  22 
CONS405 Project Scheduling and Control  24 
CONS406 Construction Management  26 
REAL100 Principles of Real Estate  28 
REAL200 Urban and Regional Economics  29 
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Bachelor in Real Estate Valuation and Development
REAL201 Real Estate Law  30 
REAL202 Land Planning and Environmental Design  31 
REAL300 International Real Estate Economics and Markets  33 
REAL301 Real estate Finance  35 
REAL302 Real Estate Appraisal and Valuation  37 
REAL304 Residential Property Analysis and Valuation  39 
REAL305 Income Property Analysis and Valuation  41 
REAL306 Statutory Valuations  43 
REAL400 Real Estate Development  44 
REAL401 Real Estate Investment: International and Domestic  46 
REAL402 Facilities/Property Management  48 
REAL403 Real Estate Development Practice  49 
REAL404 Sustainability and Environmental Issues in Real Estate Development  50 
PEPS100   Language and Communication Skills  52 
PEPS101  Computer Skills  53 
BUSN100   Introduction to Business  54 
GEED101   Mediterranean Civilisation  55 
MATH100  Mathematical Methods  56 
STAT100   Introduction to Statistics  58 
FINA100   Principles of Finance  60 
ECON101   Principles of Microeconomics  62 
ECON102   Principles of Macroeconomics  64 
STAT200   Statistics  65 
BUSN202 Managerial Economics  67 
BUSN204   Principles of Marketing  69 
ACCN200   Financial Accounting  71 
FINA200 Financial Theory  72 
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Bachelor in Real Estate Valuation and Development
FINA201 Derivatives markets  74 
FINA300 Debt Markets  76 
FINA301   Corporate Finance  78 
PEPS400 Dissertation Seminar  80 
PEPS401 Dissertation  81 
9.  ELECTIVES  83 
PSYC100   Introduction to Psychology  84 
ACCN201  Managerial Accounting  85 
FINA302   Investment Analysis  87 
FINA303   Principles of Risk and Insurance  89 
FINA305   Investment Banking  91 
ECON101   Microeconomics  92 
ECON202   Financial Economics  94 
ECON203   Economics of European Union  96 
ECON300   Macroeconomics  98 
ECON400   International Economics  99 
BUSN303   Business Law  100 
ARCHPP03 Institutional Framework and Law  101 
CONS401 Construction Law and Contracts  102 
ARCHT04 Building Physics  103 
ARCHT08 Environment and Climate  105 
ARCHT11 Structural Systems  107 

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Bachelor in Real Estate Valuation and Development
1. THE VISION OF THE SCHOOL 
The School of Architecture, Land and Environmental Sciences aspires to be a centre of excellence in
educating professionals in architecture, urban and environmental design, real estate and construction
management. The philosophy of the School is to establish a model of education that promotes both
professional and educational aspects of a discipline that supports academic rigour and creativity,
requires cultural and analytical development and operates within an environment that encourages
freedom of inquiry and uninhibited intellectual pursuit.

The School offers a comprehensive range of programmes at undergraduate and master’s level that can
play a pivotal role in the development of the subject areas in Cyprus, and provide a forum for research
into topical areas and contribute to policy debates.

2. PROGRAMME AIM AND OBJECTIVES 
The undergraduate programme in Real Estate Valuation and Development is the first programme in
Cyprus and Greece in the field of real estate. The programme offers a comprehensive curriculum that
combines academic rigour with practical experience and serves as the ideal foundation for a
successful career in real estate related industries. The aim of the programme is to produce highly
skilled professionals for one of the biggest industries internationally by equipping students with a
qualification recognised and sought after by employers, as well as by professional and industry
bodies.
The programme curriculum combines the disciplines of management, economics and finance with
design, construction and computer courses to create a programme with sufficient depth and breadth,
which then serves as a foundation for applications in real estate. The programme places a high priority
on the integration of theory and practice and complements its emphasis on relevance in teaching with
an emphasis on research in the final year of the programme.
The specific aims of the programme in Real Estate Valuation and Development are:
- To provide students with the knowledge and skills to ensure professional success in a fast
changing, global business and economic environment.
- To equip graduates with an understanding of the legalities, principles and processes required
to fill a professional role in this field
- To equip students with an in-depth understanding of valuation techniques and their
applications to various property types and situations so as to enable them to work as
independent professionals
- To provide students with the analytical and critical thinking skills necessary to be successful
in the real estate industry
- To provide students with an appreciation of a professional ethic, which emphasises
responsibility and responsiveness to community needs.
- To facilitate internships, which provide students the chance to gain practical experience.

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Bachelor in Real Estate Valuation and Development
3. LEARNING OUTCOMES 
By the end of the programme graduates will have acquired a good understanding of:
- The key concepts theories, principles, approaches an analytical techniques used in real estate
valuation, development, investment and management including, measurement, physical and
financial appraisal of buildings; legal principles and aspects as they pertain to real estate;
economic theory and its applications to real estate; site planning and design; market and
investment analysis; real estate valuation and feasibility studies; development, construction
and economic/financial performance of buildings; property and portfolio analysis and
management; principles of construction management; and the application of business
management principles to real estate.
- All property valuation techniques and their applications to various property types and
situations
- All the stages of the real estate development process, as well as the theoretical frameworks
and analytical techniques and approaches that are applicable to each stage
- The context within which construction and real estate processes operate including the legal,
business, economic, financial, political and regulatory
- The linkages and interdisciplinary relationships in the real estate sector
- The computer and technology venues that support professional practices in the real estate
sector
- The regulatory and institutional systems within which the real estate and construction industry
operate, including planning and building controls
- Contemporary issues facing the profession in Cyprus and Europe and the drivers of change,
including concerns of environmental sustainability
- European and international valuation standards
- Professional ethics and their importance in the orderly operation of the various real estate
processes
- The impact of the balance between social, environmental and economic issues on the use and
value of real estate and the importance of taking due account of providing sustainable and
eco-friendly real estate solutions

4. PROGRAMME DURATION 
The BSc in Real Estate Valuation and Development requires the completion of 240 ECTS over four
years.
5. MODES OF TEACHING 
The BSc in Real Estate Valuation and Development is delivered by combining face-to-face tuition,
with the full support of interactive technology and the internet.

FACE-TO-FACE
Tuition takes place at Neapolis University at scheduled times during the week.
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Bachelor in Real Estate Valuation and Development
INDEPENDENT LEARNING
The learning platform of the programme aims to make full use of each participant's time by
combining traditional lectures, case studies, group projects and field trips combined with a distance-
learning support material and teacher student interaction.
The curriculum is rigorous but also flexible, rich in theory but also practical enough to be a test at the
workplace, and the Programme allows participants to have a close contact with professionals in the
real estate industry.

6. TEACHING AND LEARNING STRATEGY 
STUDY TEAMS AND COLLABORATIVE LEARNING
Study teams are a key feature of the programme, contributing to the learning process in the
collaborative manner of a productive workplace environment. The study team addresses team-based
assignments and receives team-directed feedback and grades from faculty. Even in individually
prepared work, team members frequently contribute educationally.
Most study teams find that, over the long run, all team members contribute equally to the team’s work
product. However, the study team provides a critical support mechanism for a student who
experiences a difficult week and cannot contribute adequately to an assignment. The assisted team
member is expected to, in turn, provide support to others when needed. The concept of the study team
presupposes that all participants endeavour to function as effective members of their teams. There is
no presumption that a team must “carry” a member who does not contribute adequately.
Students are expected to make every possible effort to resolve problems before considering team
membership changes. For most teams the stimulating environment of the programme coupled with the
high standards and initiative of the team members, will result in a smooth-functioning team. However
from time to time, teams should stop to assess and fine-tune their working relationships to maximize
the value of team education and ensure equitability. Problem areas, if any, should be addressed early
and forthrightly. The power of the team to improve itself is one of the benefits of the programme.
However, if a team is unable to resolve its differences, the Programme Director may be asked to
intercede.

"Learning by Doing"
This model followed by the programme is one of learning facilitation instead of the traditional
approach of instructor teaching. In every module students will be provided with several opportunities
to apply concepts and techniques to "real-world like" cases.

Student-Centred Learning
This approach encourages students to develop their own context for learning. Meaning and relevancy
of concepts can be highly enhanced when students are able to relate what is covered in the course to
their professional experience. Projects from a student’s work environment or from an area of their
interest are encouraged. Projects should reflect applications that demonstrate improvement over
conventional methods and cover technology skills that are considered current.

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Bachelor in Real Estate Valuation and Development
Course Attendance
Students are required to attend all sessions of every course. Attendance at all class sessions is
essential to maintain academic quality and to benefit from as well as contribute to the dynamic
learning environment of the class.

If an emergency situation or illness occurs, students must contact the course professor prior to missing
a class session. In addition, students should also notify the course office of any absence. Please be
advised that absence from class may negatively impact a course grade, and excessive absences may
affect a student’s eligibility to continue in the programme. If the excessive absence is confined to a
single course or course pairing, the student may be required to repeat the course(s) at his/her own
expense.

Class Preparation
Preparation means that students read the materials, consider the critical issues raised in the cases and
discussion questions, and carry out appropriate quantitative and qualitative analysis in order to arrive
at and provide support for their thoughtful position. Preparation involves developing a personal
position on the issues raised in the cases and readings and contributing to fruitful exchange of ideas.
Unless students have thought about and developed a personal position, it is difficult to learn from
others’ contributions to the class.

Class Participation
For the learning process to be effective, students will need to participate actively during every class.
Only by actively participating in class discussions they will sharpen their own insights and those of
their classmates. The expectations are that students analyse, comment, question, discuss, and build on
others’ contributions. Participation enables students to learn from their colleagues.

7. PROGRAMME STRUCTURE 
The University operates the European Credit Transfer System (ECTS). The course comprises a total
of 240 ECTS over eight semesters. In the first year, the course includes several introductory courses
in all disciplines that are related to real estate, such as economics, finance, business, accounting,
construction, mathematics and computers, as well as an introductory course in real estate. In this
year, the course includes also and three general education courses.
In the second year, students are offered additional introductory courses in marketing, management,
finance, construction and statistics, as well as some other courses more closely related to real estate
such as land planning, real estate law and urban and regional economics.
In the third year, the course focuses exclusively on real estate with several valuation-related courses,
as well as courses in real estate finance and real estate economics.
In the fourth year, the course focuses on real estate project development and investment.
Furthermore, during this year, students are required to complete a dissertation seminar and a
dissertation, which aim at developing their research skills.
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Bachelor in Real Estate Valuation and Development
Programme Requirements  

SEMESTER 1 ECTS SEMESTER 2 ECTS

ECON101 Principles of Microeconomics 6 ECON102 Principles of Macroeconomics 6

PEPS101 Computer Skills 3 FNA101 Financial Accounting 6

MATH100 Mathematical Methods 3 STAT100 Introduction to Statistics 6

FINA100 Principles of Finance 3 CONS102 Construction Technology II 6

BUSN100 Introduction to Business 6 CONS103 Construction Graphics & CAD 3
CONS101 Construction Technology I 6 GEED101 Mediterranean Civilisation 3

PEPS100 Language & Communication 0 PEPS100 Language & Communication 0

REAL100 Principles of Real Estate 3

30 30

SEMESTER 3 SEMESTER 4

Land Planning and
REAL202 Environmental Design 6 BUSN204 Principles of Marketing 6

BUSN202 Managerial Economics 6 CONS201 Building Pathology 6

STAT200 Statistics 6 REAL200 Urban and Regional Economics 6

REAL201 Real Estate Law 6 CONS202 Building Services Engineering 6

FINA200 Financial Theory 6 FINA201 Derivatives Markets 6

30 30

SEMESTER 5 SEMESTER 6

Theory and Practice of Real
FINA300 Debt Markets 6 REAL302 Estate Valuation 6

CONS300 GIS Principles & Applications 6 CONS302 Construction Economics 6

Residential Property Analysis
FINA301 Corporate Finance 6 REAL304 and Valuation 6

International Real Estate Income Property Analysis and
REAL300 Economics and Markets 6 REAL305 Valuation 6

REAL301 Real Estate Finance 6 REAL306 Statutory Valuations 6

30 30

SEMESTER 7 SEMESTER 8

PEPS400 Dissertation Seminar 0 PEPS401 Dissertation 6

PEPS401 Dissertation 6 CONS405 Project Scheduling & Control 6

Real Estate Investment: Real Estate Development
REAL401 International and Domestic 6 REAL403 Practice 6

REAL402 Facilities/Property Management 6 CONS406 Construction Management 6

REAL400 Real Estate Development 6 Electives 6

Sustainability and
Environmental Issues in Real
REAL404 Estate Development 6

30 30

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Bachelor in Real Estate Valuation and Development
8. PROGRAMME SYLLABI 

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Bachelor in Real Estate Valuation and Development