Akaz Capital for Training and Consulting

Schedules Introduction Objectives Training Methodology Organisational Impact Personal Impact Who Should Attend? Outline

Home / Real Estate Investment & Finance / Real Estate: Market Analysis, Appraisal, Finance & Investment

Course Schedule

Classroom Sessions:

Date	Venue
21 Apr - 02 May 2025	London
29 Sep - 10 Oct 2025	London

Introduction

INTRODUCTION

Full outline shall be posted soon.

For more inquiries, please call: +97144250700 or email us at: info@glomacs.com

MODULES

This training course is split into two modules:

MODULE I - Real Estate Market Analysis & Appraisal

MODULE II - Real Estate Finance & Investment

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.

Objectives

Training Methodology

Organisational Impact

Personal Impact

Who Should Attend?

Course Outline

Module 1: Real Estate Market Analysis & Appraisal

Day 1

Market Analysis

Real estate strategy
- Real estate sectors and their performance
- Available data in Saudi and the region
- Sources of real estate information
- Calculating and using real estate indices
Comparing real estate developer strategies
Key risks for real estate development and investment
Political risk
Analysing economic cycles and foreign exchange risk
Technological threats and opportunities
Cultural and organizational issues
Analysing real estate markets
- Urban economics and city development
- City plans and their significance
- Localities and values
- Competitor SWOT analysis
- Demand and supply: pipelines, rent and occupancy levels
- How to forecast real estate: qualitative and quantitative techniques

Day 2

Planning and Financial Analysis

Planning for development
- Zoning, planning permission and building permits
- Highest and Best Use (HBU) studies
- Navigating the planning process
- Planning timelines, regulations and approvals
Estimating costs
- Evaluating and benchmarking land costs
- Regression analysis for land valuation
- Construction cost determination, modelling and audit
Financing
- Corporate vs Real Estate finance
- The role of SPVs Bank financing and bank ratios
- Sectoral differences in lending
- Equity investment, joint ventures and cashflow waterfalls
Assessing Performance
- Ratio-based tools (ROA, ROI and others
- NPV and IRR and their use in practice
- Examples of financial models
Risk analysis (sensitivity, scenario and Monte Carlo)

Day 3

Property Assessment

Analysing individual properties
- Classifying real estate
- The regulatory framework for real estate analysis
- The role of the chartered surveyor
- RICS and Taqueem valuation standards analysed and compared
Valuation techniques
- Discounted Cashflow – forecasting market trends
- Options based valuation
- Comparables, valuations, sales and hedonic valuation (location, size, age, type and other variables)
- Cost methodologies
- Combining techniques for valuation accuracy
The role of the surveyor
- Content of property surveys
- Assessing quality
- Accessing and reviewing property maintenance and capex records
- Key due diligence issues

Day 4

Assessing Income Potential

PGI, EGI and NOI – calculating and forecasting income
Advantages and disadvantages of Excel
Integrating externalities and the valuation of multiple properties
Advanced DCF Valuation in Real Estate
- RICS Valuation principles, comparisons with Dubai and elsewhere in the Gulf
- Differences between the use of techniques for valuation and investment
- DCF Valuation and modelling
- Principles of DCF modelling (including NOI, cap rates, cost of capital, land prices and forecasting cashflows)
- Presentation of DCF model including Assumptions, Operations, Senior and Junior Debt
- Examples of DCF valuation from the Gulf
Multiples based valuations
- Ratio (multiples) analysis and the selection and use of comparables.
- Examples of multiple analysis from the Gulf
Forensic Financial Analysis for Real Estate
- DCF model complexities (including taxation, depreciation, leases and examples of SPV models)
- Use of hedonic and regression models for real estate valuation
- How to analyse and audit DCF and multiples valuations and investments
Risk Analysis
- Objectives and results of risk analysis
- Application of methodologies (sensitivity analysis, scenarios and Monte Carlo) to the completed DCF valuation model
- Advantages and disadvantages of different methods

Day 5

Legal Analysis and Valuation Reports

Tenancies and the law
- Freehold, leasehold and other legal issues (e.g., easements, fixtures)\
- The analysis of tenancies
- Tenancy renewals and options
Valuation Reports
- Preparation and content of a valuation report
- Deciding on the validity and status of valuation reports
- Differences between jurisdictions and sectors
- How to audit a valuation report

Module 2: Real Estate Finance & Investment

Day 6

Overview Of Real Estate Finance And Invest

An international overview of real estate market.
Banking and real estate.
Fund managers.
Valuation standards.
Investment value.
Mortgage lending value.
Sales comparison approach.
Cost approach.
Income approach.

Day 7

Source Of Finance For Real Estate

Potential funding sources for real estate
Long term source of finance
Short term source of finance
Evaluation of the types of finance in real estate
Equity finance
Debt finance available for real estate
How to estimate the Cost of Weighted Average Cost of Capital (WACC) for real estate firms.
Application of Capital Asset Pricing Model (CAPM) in real estate.
Measures of risks in real estate investments.

Day 8

Investment Decisions In Real Estate.

The principal of cash flow forecast
Evaluating real estate investment decision using:
Payback
Accounting Rate of Return (ARR)
Net Present Value (NPV)
Internal Rate of Return (IRR)
Analysing real estate Investment Decision using:
- What If Analysis
- Sensitivity Analysis
Simulation
Applying Economic Value Added to real estate investments.

Day 9

Asset Allocation Strategies In Real Estate Investment

Investment opportunities in real estate.
Real estate required rate of return.
Sustainable investment strategies.
Risk and return of real estate investments.
Portfolio theory application in real estate business.
Estimation of systematic risk for real estate firms.

Day 10

Assessment Of Business Performance In Real Estate

Ratio analysis for real estate business.
Management’s point of view.
Owners’ point of view
Lenders’ point of view
Ratios as a system – pyramids of ratios
Integration of real estate financial performance.
Predicting financial distress for real estate firms.

الشهادات المُعتمَدة

On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Options

Real Estate: Market Analysis, Appraisal, Finance & Investment