The development of the Songdo International Business District, also known as Songdo City, is an extensive 10-year project and one of the most expensive ever undertaken. This course considers the design of Songdo City in the context of real estate and infrastructure development. (Image available at Wikipedia and is in the public domain.)
Instructor(s)
Prof. Richard de Neufville
Prof. David Geltner
MIT Course Number
ESD.712 / 11.434 / 15.428
As Taught In
Spring 2010
Level
Graduate
Course Description
Course Features
Course Description
This course is an introduction to the analytical tools that support design and decision-making in real estate and infrastructure development. There is a particular focus on identifying and valuing sources of flexibility using “real options”, Monte-Carlo simulation, and other techniques from the field of engineering systems. This course integrates economic and engineering perspectives, and is suitable for students with various backgrounds. It serves to provide useful preparation for thesis work in the area. The course applies the approach to the design and phasing of a mega infrastructure real estate project.
Note
This MIT OpenCourseWare site is based, in part, on materials on Design for Real Estate and Infrastructure Development from Professor de Neufville's and Professor Geltner's Web site.
Other Versions
Other OCW Versions
OCW has published multiple versions of this subject. 