Gonçalo Rodrigues

1.Features of real estate assets
2.Investment and investor styles
3. Risks in real estate investing
4.The real estate market cycles - the Portuguese case
5. Financial math notions
5.1. Nominal and actual rates
5.2.Gross and net rates
5.3.The concept of equivalent rate
5.4.The concept of perpetuity
5.5.Update and Rate Capitalization
6.Analysis and projection of cash flows
6.1.Exploitation, investment, financial flows
6.2.The working capital cash flow
6.3. Real estate depreciation
6.4.Interest tax savings
7.The valuation of real estate investments
7.1.Analysis at constant and current prices
7.2.The formation of free cash flow and cash flow to equity
7.3. Cash Flow Update Rates
7.3.1.The WACC and CAPM Models
7.3.2.Concept of Beta
7.4.The concepts of Net Present Value (NPV) and Internal Rate of Return (IRR)
8.Practical Cases

Without prejudice to strict compliance with the program regulations, continuous assessment requires a minimum attendance of 60% of classes and includes:
- A practical case, with a weighting of 100% and a minimum grade of 10 points.
Assessment in 1st and 2nd seasons - a final exam that will represent 100% of the final grade, disregarding the continuous assessment component.

Luís Vaz Pereira

Structuring the financing of a property development project according to the state of project development
Financing Modalities
Equity and complementary models
Bank Financing
Other sources of funding
Risk analysis from the lender's perspective
Real estate development bank financing
Characteristics of typical structure as a function of design
Guarantees / Collateral
Price / associated commissions
Calculation of effective overall cost of financing
Contract typification and negotiation
Disbursement and Amortization Mechanisms
Financing for real estate investment in income assets
Mortgage Financing vs Leasing
Sale & Leaseback
Refinancing
Acting under stress
Financing Restructuring
Debt recovery and payment scenarios
Financier vs. promoter view
NPL Trading

Without prejudice to strict compliance with the program regulations, continuous assessment requires a minimum attendance of 60% of classes and includes:
- An individual test, weighing 100% and a minimum grade of 10 points.
Assessment in 1st and 2nd seasons - a final exam that will represent 100% of the final grade, disregarding the continuous assessment component.

Ana Reis

1.Introduction questions: Real estate taxes - (IMT, IMI, additional to IMI, IS, VAT, real estate capital gains tax under IRS, IRC)
2.Fiscalities in urban rental and local housing
3. Tax benefits of urban regeneration
4.Investment vehicles: real estate investment funds, real estate investment and management companies, resale buying companies.

Without prejudice to strict compliance with the program regulations, continuous assessment requires a minimum attendance of 60% of classes and includes:
- An individual test, weighing 100% and a minimum grade of 10 points.
Assessment in 1st and 2nd seasons - a final exam that will represent 100% of the final grade, disregarding the continuous assessment component.

Bernardo Xavier Alabaça

1.Real Estate Sector Structure
1.1.Organization
1.2.Intervenients
2.Operating Real Estate Market
2.1.Historical Perspective
2.2.Market Segments
2.3.Geographic Dynamics
3.Real estate developer
3.1.Company Strategies
3.2.Business Lines
3.3.Outsourcing
3.4.Regulation
4. Real Estate Project Feasibility Analysis
4.1.The Promotion of the Concept to Use
4.2. Costs and Revenue Structure
4.3. Financing Options
4.4. Tax Impact
4.5.Evaluation Methodologies
4.6.Analysis of Results
5. Influence of Urbanism on Promotion
5.1.Territorial Management Instruments
5.2.Urbanization and Building
5.3. Urban Planning and Promotion Integration
6. Contract and Service Contracting
6.1.Hiring of Services
6.2.Execution of Works
7.Real Estate Marketing
7.1.Customer Knowledge
7.2.Commercialization Strategy
7.3 Price Setting
7.4.Marketing Plan

Without prejudice to strict compliance with the program regulations, continuous assessment requires a minimum attendance of 60% of classes and includes:
- An individual test, weighing 100% and a minimum grade of 10 points.
Assessment in 1st and 2nd seasons - a final exam that will represent 100% of the final grade, disregarding the continuous assessment component.

Frederico Arruda Moreira

Investment vehicles and investors
Objective
Investment Volumes
Market segment
Profitability and Risk
Investor Profile
Investment Source
Investment vehicles
Typical investment vehicles
Real estate society. SA vs Lda
Real Estate Funds
Sicafis
Reits
Real Estate Company
Regulatory framework
Fiscal Framework
Investor Profile
Investment Funds and Regulated Companies (sicafi's) Open and Closed
Regulatory framework
Fiscal Framework
Investor Profile
Management Companies
Regulatory and supervisory framework
REITS (SOCIMI's)
Regulatory framework
Fiscal Framework
Investor Profile
Real Estate Portfolio Management
Risk and profitability
Diversification, concentration and risk profiles
Other Portfolio Management - NPL's
Wallet Types
Real estate portfolio purchase, negotiation and management

Without prejudice to strict compliance with the program regulations, continuous assessment requires a minimum attendance of 60% of classes and includes:
- An individual test, weighing 100% and a minimum grade of 10 points.
Assessment in 1st and 2nd seasons - a final exam that will represent 100% of the final grade, disregarding the continuous assessment component.