SINGAPORE : The academic world has traditionally seen them as two separate industries, even though they are, more often than not, intricately intertwined.
But with the signing of a Memorandum of Understanding, the National University of Singapore will marry the fields of Real Estate and Business in a new master's degree.
The first of its kind in Asia, the NUS Master's of Business Administration with Specialisation in Real Estate aims to produce students well trained not only in real estate, but also business.
Noting that the real estate market has undergone structural changes - especially in the last two years - resulting in more innovative and sophisticated transactions, the university's MBA academic director, Mr Ho Yew Kee, said there is a greater need for real estate managers with knowledge in both fields to be successful.
Mr Lim Chin from the Department of Business Policy explained: "As the world converges, it is important we integrate real estate principles with the business world. Now there is a demand for senior management to be cross trained, for students to have a broad spectrum of knowledge."
The course is a response to market feedback and results of a survey, which revealed the common feeling that certain skill sets needed to be added, and some updated.
Open to all graduates with a bachelor's degree and at least two years' work experience, the course will hone students who have "a holistic view on the subject and are better able to recognise, understand and capitalise on business opportunities, to transcend borders and climb ladders," said Mr Lim.
Full-time students will take 17 modules over two years.
Fourteen compulsory modules include 10 offered by the NUS Business School and four from its Department of Real Estate.
These students are also strongly encouraged to join the Student Exchange Program, which allows students to experience a semester abroad at 30 universities worldwide while paying NUS fees.
Classes, which begin next August, will be kept small to enable a more personalised learning experience.
Students who fulfil the basic requirements will be selected based on an interview, which will focus on picking out the industry captains.
Said Mr Ho: "We are looking for students with drive and determination and a strong understanding of what they want."
In a hint of more offerings to come from the university, Mr Lim said this marriage of faculties is the first of many to come as NUS re-looks its schools to create programmes that meets the needs of today's society.
"What it does is to bring out the best of both schools so that we tap on the competency of both," he said. - TODAY
Wow!!!! We are going to offer all subjects???