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Business School to host world class real estate competition

21 Sep 2017

The next generation of real estate industry leaders from across Australia and New Zealand will gather in real estate obsessed Sydney next week for the second University of Sydney Business School Real Estate Case Competition.

The winning team will represent Australia in a prestigious international competition to be hosted by New York’s elite Cornell University in November. The team will also receive $ 25 thousand to cover costs.

“A total of nine teams of four to six undergraduate students will compete in Sydney on Monday; firstly in a round of heats followed by finals judged by a high powered panel drawn from the most senior levels of Australia’s real estate industry.

The fictional case given to each team is based on a “real life” property transaction.

“The teams must develop a strategy to acquire the property, finance the acquisition, develop the property, manage it, including all of the risks involved, and finally to exit the property,” explained Associate Professor Jamie Alcock.

The finalists will be given 20 minutes to pitch their strategy to the judges and I fully expect that those pitches will demonstrate the real depth of real estate education that we have in this country,” Dr Alcock said.

The judging panel includes Jonathan Johnstone of the GPT Group; Ray Pittman from CBRE; Michelle Tierney of Stride Property; Group; Rob Hattersley from Lendlease Investment Management; Chris Judd of AMP Capital; Anastasia Clarke from The GPT Group; Alison Fleming from Scentre Group; Julian Biggins of Moelis Australia; Paul Craig from Savills; Chris Tynan from Blackstone; Josh Cardwell from PWC; Elizabeth Lancaster from Multiplex and Jon Day from Goodman.

Competition sponsors include Savills, Brookfield, Blackstone, Moelis Australia and PWC.

“The Sydney competition gives around 50 students exposure to a real world task and to industry leaders before they even graduate, said Dr Alcock. “Of course, the winning team will have an opportunity to learn a great deal about the global real estate sector.”

He also explained that knowledge gained from the Sydney and New York competitions is “fed straight back into the classroom to the benefit of all real estate students”.

A University of Sydney Business School team has taken second place in the Cornell Case Competition in each of the past two years.

Last year, the Sydney defeated teams representing the host university (Cornell); the University of Pennsylvania’s Wharton School; Stanford; Philadelphia’s Villanova University; Brown, Georgetown and New York University to come in behind a Hong Kong university.

“Sydney’s placing in the competition over the past two years, truly reflects the cutting edge standard of education at the Business School as well as Australia’s keen interest in real estate issues,” Dr Alcock concluded. “I expect the same this year.”