The Real Estate Development and Management (REMD) group is part of the Urban Systems and Real Estate (USRE) unit and responsible for education and research in the area of real estate management and urban development. The group consists of 8 staff members on a permanent basis and a varying number of postdocs and PhD-students. Using an interdisciplinary approach, the group covers multiple disciplines including planning, geography, management, economics and psychology.
Research and education activities in the REMD group are aimed at the development and teaching of theories, methods and techniques to understand, model and optimize processes in the area of real estate. The real estate market comprises various market segments ranging from business premises like offices, stores and commercial buildings to non-profit real estate like housing corporation properties. Equal attention is paid to these segments. Hereby three perspectives are used:
- The user perspective – understanding the needs, preferences, behavior and motives of users of space for activities such as residence, retail and businesses; users can be owners as well as renters of space;
- The management perspective – understanding the management of real estate on urban, portfolio and individual building levels; actors here can be suppliers (e.g., corporations) or users (e.g., corporate real estate);
- The area development perspective – understanding land development processes; actors here can be developers but also investors and public-private partnerships.
The group distinguishes itself from other real estate groups by a focus on user behavior research and development of decision support systems. Real estate objects are consistently considered in their physical form and in a spatial context.This focus reflects the group’s vision and mission. User behavior research is assigned a central role from a recognition that needs and preferences of users are complex and dynamic and understanding the user is important for creating supply that has added value. The physical-spatial context is emphasized based on the vision that building design and an integrated approach of real estate at the scale of the neighborhood, city or even city region are similarly important to create high-quality living and working environments. Finally, decision support tools are considered important to improve the transparency of processes and quality of decisions in real estate. With this emphasis the group distinguishes itself from many other approaches in the area of real estate which are characterized by a focus on more operational and financial-economic aspects and market mechanisms.