Postgraduate Diploma in Property Development and Management

Purpose

The qualifying learner can apply a core of advanced knowledge in a specialised area to property development and management problems and can bring this to bear in the development of the South African property industry.

The qualification provides the professionally qualified learner to develop specialised skills, knowledge, and values which will allow him/her to be an authority in the field of property development and management.

Rationale

Of all the business areas in the built environment in South Africa, the real estate sector is the least professionalised. Access to estate agency and brokerage, as well as property valuation, is regulated with well-defined educational and work experience requirements. Business areas like property finance, development, property, and asset management are not regulated by any national body. A consequence is variations in the quality of business services offered in the sector. This is problematic as the sector has seen significant business failures that have now been worsened by the pandemic. The ability of the sector to recover and the economic recovery of cities like Johannesburg will partly depend on the skills base of the sector.

In addition, the demographic profile of the sector does not reflect the demographic profile of the country. This is partly due to the relative scarcity of real estate qualifications in the country. Currently, there are no real estate qualifications in provinces like KwaZulu-Natal, Mpumalanga, Limpopo, Northern Cape, and Northwest. The scarcity of qualifications also manifests itself in the scarcity of skills, especially in state-owned institutions like the Department of Public Works and Infrastructure.

The qualification will produce graduates who will pursue careers in both the public and private sectors in valuation, property and asset management, finance, investments, housing, commercial property development, facility management, and self-employment in housing development.

This qualification also offers an opportunity for students to meet the changed educational demands of the South African Council for Property Valuers Professions (SACPVP) for aspiring professional property valuers and create a new pipeline of young professionals who can replace a generation of ageing property valuers

The acceptance of this programme as satisfying the educational requirements for the Institute of Real Estate Management (IREM) has opened the door to professionalising property management in the country.

Qualifying learners may be ineligible to study further at a Master's level. It also adds value to the learner through enhanced career opportunities and through increased status within the property industry and recognition in the wider communit.

Recognition of Prior Learning

The institution has an approved Recognition of Prior Learning (RPL) policy which is applicable with regards to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

RPL for exemption of modules

• Learners may apply L via the CAT policy to be exempted for modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

Entry requirements

The minimum entry requirement for this qualification is

• Bachelor of Architecture, NQF Level 7.

Or

• Bachelor of Architectural Studies, NQF Level 7.

Or

• Bachelor of Science in Quantity Surveying, NQF Level 7.

Or

� Bachelor of Science in Urban and Regional Planning, NQF Level 7.

Or

• Bachelor of Science in Building, NQF Level 7.

Or

• Bachelor of Science in Construction Management, NQF Level 7.

Or

• Bachelor of Science in Engineering, NQF Level 7.

Or

• Bachelor of Commerce, who has passed three modules in Economics or Business Economics, NQF Level 7.

This qualification consists of the following compulsory modules at National Qualifications Framework Level 8 totalling 150 Credits.

Compulsory Modules, Level 8, 150 Credits

Property Development and Management stream

• Real Estate Finance, 10 Credits
• Real Estate Market Analysis, 10 Credits
• Commercial Real Estate Investments, 10 Credits
• Quantitative Methods in Property Studies, 20 Credits
• Law for Property Development and Management I, 10 Credits
• Law for Property Development and Management II, 10 Credits
• Applied Macroeconomics, 10 Credits
• Real Estate Valuation, 10 Credits
• Real Estate Development, 10 Credits
• Management and Leadership for the Property Sector, 20 Credits
• Real Estate Brokerage, 10 Credits
• Real Estate and Asset Management, 20 Credits

Or

Compulsory Modules, Level 8, 150 Credits

Facilities Management stream

• Real Estate Finance, 10 Credits
• Real Estate Market Analysis, 10 Credits
• Commercial Real Estate Investments, 10 Credits
• Introduction to Facilities Management, 10 Credits
• Building Services, 10 Credits
• Strategic Planning, 10 Credits
• Commercial/Procurement Law, 10 Credits
• Space and Workplace Management, 10 Credits
• Information Technology in Facilities Management, 10 Credits
• Project Management in Facilities Management, 10 Credits
• Environmental Management, 10 Credits
• Occupational Health and Safety, 10 Credits
• Advanced Facilities Management, 10 Credits
• Real Estate and Asset Management, 20 Credits

1. Analyse property markets for valuation, investment, property and asset management as well as for development purposes.
2. Evaluate the economic feasibility of property developments, prospective investment acquisitions, and properties under management.
3. Collect, analyse, and present data for business decisions.
4. Lead and manage themselves, others, and groups.
5. Communicate professional decisions orally and in writing in the field of property investments, property management, real estate brokerage, and property valuation.

Associated Assessment Criteria for Exit Level Outcomes 1

• Carry out market analyses and use them to write investment reports, property management plans, development feasibility studies, and valuation reports.
• Present reports orally in a business setting

Associated Assessment Criteria for Exit Level Outcomes 2

• Display understanding of ethics when conducting economic feasibility of property development and management.
• Build financial decision models to assess the profitability of investments, prospective acquisitions, and developments
• Evaluate, apply, and develop existing and new financial, planning, technological, and management approaches where appropriate to the area of study,

Associated Assessment Criteria for Exit Level Outcomes 3

• Apply the tools of statistical analysis to set up small-scale empirical projects and transfer the analytical skills into computations involved in property market analysis.
• Write business reports that show the outcomes of statistical analysis of business data
• Select, apply, evaluate, and/or develop the most appropriate specialised techniques to the solution of problems

Associated Assessment Criteria for Exit Level Outcomes 4

• Participate in teamwork, management issues, and negotiate to achieve solutions to a variety of issues related to property development and investments, as well as facilities management and maintenance.
• Use appropriate, effective techniques to elicit or obtain information for issues related to property development and management
• Demonstrate self-awareness of how to manage personal stress, manage teams and interpersonal conflict, and lead change

within property organisations.

• Demonstrate leadership in advanced problem-solving
• Demonstrate ability to work with others in a team
• Engage in lifelong learning and hold lifelong learning as a professional value

Associated Assessment Criteria for Exit Level Outcomes 5

• Analyse and produce feasibility, investment, and valuation reports.
• Write and present property management plans
• Write and present a small-scale empirical research project
• Communicate effectively in any medium

INTEGRATED ASSESSMENT

Qualifications in valuation, development, and property management use and integrate prior knowledge in market analysis, investment, finance, and law to formulate management plans, valuation reports, and feasibility studies. The requirement to write and present these reports implies that each of these course projects tests knowledge and skill integration across multiple sub-fields. In addition, graduates' teamwork and communication skills are tested simultaneously in these courses, which assures their work readiness.

To promote, monitor, and measure learner learning throughout a course, no single assessment may count for more than 40% of the final mark unless there are special circumstances, in which case the permission of the Dean is required.