Professional%20Partnership%20within%20Real%20Estate%20Education:%20The%20case%20of%20the%20ESSEC-BNP%20Paribas%20Real%20Estate%20Chair

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Professional Partnership within Real Estate
Education The case of the ESSEC-BNP
Paribas Real Estate Chair

• Ingrid Nappi-Choulet
• ESSEC Business School France

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Introduction

• Most corporate managers do not have a formal real
  estate strategy and ignore or lack interest in
  their property assets in their overall strategy
• In France and in the rest of Europe, corporate
  real estate management also seems to be
  inhibited.
• Moreover, this field of management is not
  considered as a priority or a discipline, and
  receives little attention in business education,
  particularly in business schools

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1. Background

• Real Estate can be studied into 3 dimensions
• 1. As an economic activity and sector
• 2. As a resource and function for the company
• 3. As an asset
• Importance of corporate real estate to
  corporations bottom line
• corporate real estate represents between 25-41
  of total corporate assets
• Corporate space costs make up 10-20 or 50 of
  operating costs.
• Corporate strategy is integral to corporate
  business strategy
• Real estate courses should be where future
  managers are trained ? MBA Programs

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Real Estate Education in MBA Programs

• Unlike other disciplines, real estate is not part
  of the core curriculum in MBA programs.
• Lack of real estate education in general
  management education
• Real estate, if offered, is usually represented
  as an elective course, held out of the finance
  department.

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2. A solution for ESSEC Business School
Supporting a Real Estate Chair

• Objectives? Advance the teaching and research in
  real estate finance and economics.
• A chair is founded by external partners and by
  ESSEC Business School to encourage teaching and
  research in an area that they intend to promote
  together.
• The ESSEC- Real Estate Chair was set up in
  january 2003 and is now supported by BNP Paribas
  Real Estate
• Courses offered in the MBAs cursus
• REAL ESTATE INVESTMENT
• CORPORATE REAL ESTATE
• REAL ESTATE DEVELOPMENT
• REAL ESTATE FINANCE
• URBAN PLANNING
• REAL ESTATE LAW

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The ESSEC MBAs Real Estate Track
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Chair Seminars

• In addition to core courses and options, Chair
  students have two seminars
• A Professional Real Estate Seminar This seminar
  is a place for discussions, reflection and the
  sharing of know-how. Students meet real estate
  officials and major players (developers,
  financiers, asset managers, consultants in
  mergers and acquisitions and others) to explore
  issues in the real estate sector.
• A Real Estate Chair Research Seminar Chair
  students work in pairs on applications defined by
  Chair partners (BNP Paribas Real Estate) where
  the project is carried out. Work is supervised by
  the professor and the research donor, ending with
  a thesis and its defence.

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For more information

• Contact
• Ingrid Nappi-Choulet, Professor, Chair
  Holdernappi_at_essec.fr
• www.essec-immobilier.com