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Updated in [March 06th, 2023]

Creating Shared Benefits in Real Estate Development is the second of two courses that comprise the Socially Responsible Real Estate Development Professional Certificate Program. This course provides an in-depth exploration of Country Gardens Limited’s Forest City development project, a multi-billion dollar development project on the southern coast of Malaysia. Learners will gain access to materials collected by a research team of MIT graduate students who conducted video interviews with a wide variety of stakeholders including local fishermen, public officials, community activists, and the leading urban designers and real estate developers in Malaysia, Singapore, China, and the U.S. The research team also filmed the development extensively, both on the ground and from the air. Through this course, learners will have the opportunity to evaluate the costs and benefits of decisions made by Country Gardens, and reflect on their own theory of what constitutes socially responsible real estate development.

[Applications]
Upon completion of this course, learners will be able to apply the knowledge and skills gained to their own real estate development projects. They will be able to identify and evaluate the social and environmental impacts of their projects, and develop strategies to create shared benefits for all stakeholders. Learners will also be able to develop their own theory of what constitutes socially responsible real estate development.

[Career Paths]
Recommended Career Paths:
1. Real Estate Developer: Real estate developers are responsible for the planning, design, and construction of residential and commercial properties. They are responsible for overseeing the entire development process, from the initial concept to the completion of the project. As the demand for real estate continues to grow, developers must stay up-to-date on the latest trends in the industry and be able to identify potential opportunities.

2. Urban Planner: Urban planners are responsible for the development and implementation of plans for the physical development of cities and towns. They must be able to identify and analyze potential problems and develop solutions that are both practical and cost-effective. Urban planners must also be able to work with a variety of stakeholders, including local governments, developers, and community members.

3. Sustainability Consultant: Sustainability consultants are responsible for helping organizations and businesses develop and implement sustainable practices. They must be able to identify potential environmental, social, and economic impacts of a project and develop strategies to minimize those impacts. As the demand for sustainable practices continues to grow, sustainability consultants must stay up-to-date on the latest trends and technologies in the industry.

4. Community Activist: Community activists are responsible for advocating for the rights and interests of their local communities. They must be able to identify potential issues and develop strategies to address them. Community activists must also be able to work with a variety of stakeholders, including local governments, developers, and community members.

[Education Paths]
The recommended degree paths for learners interested in socially responsible real estate development are:

1. Urban Planning: Urban planning is a field of study that focuses on the development of cities and towns. It involves the analysis of land use, transportation, infrastructure, and economic development. Urban planners work to create sustainable and equitable communities by considering the needs of all stakeholders, including residents, businesses, and the environment. Urban planners are increasingly being called upon to develop socially responsible real estate projects that create shared benefits for all involved.

2. Real Estate Development: Real estate development is a field of study that focuses on the development of real estate projects. It involves the analysis of market trends, financial feasibility, and legal considerations. Real estate developers are responsible for creating projects that are financially viable and socially responsible. They must consider the needs of all stakeholders, including residents, businesses, and the environment.

3. Sustainable Development: Sustainable development is a field of study that focuses on the development of projects that are environmentally, socially, and economically sustainable. It involves the analysis of environmental, social, and economic impacts of projects. Sustainable development professionals are responsible for creating projects that are socially responsible and environmentally friendly. They must consider the needs of all stakeholders, including residents, businesses, and the environment.

These degree paths are becoming increasingly important as the demand for socially responsible real estate development grows. As the world becomes more aware of the need for sustainable development, these degree paths will become even more important.