Certificate of Real Estate Investment Finance

In 2014, The School of the Built Environment at Oxford Brookes University took over delivery of the Certificate of Real Estate Investment Finance (CREIF) which was introduced in 2007 by the Asia Pacific Real Estate Association (APREA). CREIF was developed in response to industry demand for a practical and applied programme that would meet the professional education needs of the dynamic real estate industry in Asia to give real estate professionals across all sectors the opportunity to gain a better understanding of the real estate investment market. CREIF students have included asset managers, fund managers, investment bankers, project managers, valuers, developers and analysts.

CREIF has been very successful and students began to ask APREA to develop a postgraduate-level Real Estate Investment Finance programme linked to a major university. APREA approached the School and so the further development of CREIF began. The new Real Estate Investment Finance (REIF) programme is available as an MSc, Postgraduate Diploma or OBU Certificate and builds on the structure and success of the original CREIF, offering students the opportunity to study Real Estate Investment Finance in more depth. The features that made CREIF so successful have been maintained and enhanced:

  • online, distance-learning tailored to students who are also working full-time
  • a practically based course which makes extensive use of real-life examples
  • opportunities to share knowledge and experience across the world
  • face-to-face networking
  • input from local experts

The REIF programme covers the following subject areas in 4 core modules:

Real Estate Investment Market

Providing students with an understanding of the fundamentals and principles of the real estate investment market, including:

  • real estate assets, drivers and cycles
  • investment strategies and models
  • real estate lifecycles
  • real estate sectors and risks
  • real estate management – asset, fund and portfolio
  • real estate stakeholders

Applied Real Estate Valuation

Looking at the valuation of real estate from two perspectives – real estate and capital market valuations:

  • valuation concepts and the appraisal process
  • valuation standards
  • valuation techniques
  • valuation modelling
  • sustainability and property valuations
  • due diligence

Real Estate Finance and Investment

Provides the framework for understanding the financial and business context in which a real estate organisation functions:

  • financial reporting and the property business
  • sources and costs of capital
  • investment appraisal and management of risk
  • the property market and the capital markets
  • property-backed securities
  • property taxation

Legal and Regulatory Considerations

Bringing together a number of regulatory and tax principles and issues:

  • business legal structures
  • property rights and land laws
  • financial services regulatory framework
  • regulating the raising of finance
  • regulation of foreign investment and unlisted real estate funds
  • corporate social responsibility and the control of money laundering and corrupt practices

Each module is organised around six learning packages and progress is assessed through a combination of online tests, workbooks, problem-solving, analysis and report writing. Course work, assessment and feedback take place throughout each module and reflect the practical nature of the programmes. There are no formal exams. This allows students to work at their own pace and keep track of what they have learned.

Students can choose to study the REIF programme at one of three levels:

  • Oxford Brookes University Certificate (CREIF)
  • Postgraduate Diploma REIF
  • MSc REIF (accredited by the Royal Institution of Chartered Surveyors)

Each level follows the 4 core modules. Students taking the MSc REIF will also take two additional research-based modules. For more of an insight into the new REIF programme take a look at REIF on the Hot Property blog.

More information

Is CREIF recognised by industry?

The CREIF programme is recognised by:

  • The Royal Institution of Chartered Surveyors for CPD and LLL hours across Asia (excluding India)

Who teaches CREIF?

CREIF is delivered by the Department of Real Estate and Construction at Oxford Brookes University.

How will I learn?

Each module is organised around six learning packages and progress is assessed through a combination of online tests, workbooks, problem-solving, analysis and report writing. Course work, assessment and feedback take place throughout each module and reflect the practical nature of the programmes. There are no formal exams. This allows students to work at their own pace and keep track of what they have learned.

The programmes make extensive use of the Oxford Brookes Virtual Learning Environment (Moodle) – not just as a repository for study material, but as a web-based environment where students can access workbooks to keep track of their learning, undertake assessments and work collaboratively within virtual groups. Students will also have the opportunity to discuss issues with the Module Leaders via a range of media (telephone, email, Skype and discussion boards).

Students will have the opportunity to attend Network Seminars throughout the programme. These will be locally based and will build on the practical approach of the programmes by incorporating sessions given by local practitioners. Students will be strongly encouraged to attend to benefit from the opportunities they offer: sharing work and study experiences; building professional networks and taking part in case-study presentations led by expert local practitioners.

How long does the programme last?

CREIF is a one year programme, however as it is designed for busy professionals, it’s possible to extend the programme up to a maximum of two years.

The REIF programme has been designed so that you can start at any point during the year – there is no need to take the subject areas in order. Start dates (including a one week induction) for 2015/2016 are as follows:

  • 14 September 2015
  • 18 January 2016
  • 11 April 2016
  • 4 July 2016
  • 26 September 2016

What will happen after I complete the programme?

After successfully completing the programme, delegates will receive the CREIF certificate issued by Oxford Brookes University in the UK. You will also be eligible to join the Oxford Brookes REIF group on LinkedIn.

You may also wish to consider further study. Providing you have several years’ experience in the real estate industry, there is also the opportunity to apply for Oxford Adapt: Qualifying Certificate in Advanced Valuation. This programme is offered by the Department of Real Estate and Construction at Oxford Brookes University in partnership with RICS. Successful completion of Oxford Adapt gives direct entry to the final RICS interview to become a member of the RICS (MRICS).

Oxford Adapt is a four-month programme based around the virtual learning environment at Brookes which offers self-paced interactive learning. There are also locally based, intensive, face-to-face assessment sessions each month during the programme and these run over extended weekends. These are coordinated by academics and practitioners from Oxford Brookes.

For more information about this programme, please email rec-qcav@brookes.ac.uk

How do I enrol?

You can enrol onto the CREIF programme at any time of year by contacting us at rec-creif@brookes.ac.uk

The fees for the CREIF programme are:

  • US$4,250 for APREA member
  • US$5,350 for non-APREA member.

Is the programme right for me?

The REIF programme has been designed for real estate professionals across all sectors who would like to gain a better understanding of the real estate investment market. This could include asset managers, fund managers, investment bankers, project managers, valuers, developers or analysts. The programme is practically based and offers the opportunity to share knowledge and experience in real life situations.

On completion of the programme, the CREIF designation identifies professionals who have the theoretical and practical skill set to make investment decisions over different classes of real estate investment.

“Asian real estate investing is a unique asset class with enormous potential. Pursuing the CREIF qualification will give you an excellent grounding in this field and help you identify mispriced opportunities.”

CREIF Alumnus – Matt Hodgkins, Senior Investment Analyst, BNP Paribas Investment Partners

“CREIF offers a unique opportunity to glean valuable insight into the intricacies of the real estate industry and its activities directly from seasoned practitioners. Recommended for anyone who wishes to have or already has an interest in real estate, from budding enthusiasts to professionals desiring to further their knowledge.”

CREIF Alumnus – Andy Chan, Investment Manager, MGPA

‘Most real estate investment professionals have an academic background in either real estate or finance. The REIF programmes bridge this gap by combining elements of finance and real estate - providing those with a real estate background with a foundation in finance and those with a finance background with a foundation in real estate. It is a great finishing course for anyone with a background in either finance or real estate and wishing to develop the other half of the skillset'.

CREIF Alumnus - Noel Neo, CFA, Head of Research at APREA