New Institute for Cities and Real Estate in Emerging Markets Launched
NYU Shanghai and the NYU School of Professional Studies (NYUSPS) have established a new academic institute in Shanghai to focus on real estate in China and emerging markets, thanks to a generous gift from a soon-to-be established foundation initiated by real estate industry executives and civic leaders Dr. Feng Lun, chairman of Yufeng (F&E) Capital; Shan Dawei, president of UB Group, and Xiao Yong, vice president and executive general manager of China Real Estate Business.
The Institute for Cities and Real Estate in Emerging Markets will be supervised jointly by NYU Shanghai and the NYUSPS Schack Institute of Real Estate, a globally-recognized leader in real estate education and research. With the goal of becoming a locus for cutting-edge professional education and research on real estate in China and emerging markets, the Institute will offer short-term executive training programs in Shanghai beginning in the spring of 2020, and plans are underway to convene an annual leading regional industry conference on real estate in China. An Executive Master of Science in Real Estate degree program entailing coursework in Shanghai, New York, and other NYU global network sites will be launched in the coming years.
“The business and government leaders who are driving urban development in emerging markets have pursued a double strategy,” said NYU Shanghai’s Vice Chancellor Jeffrey Lehman. “They have adapted sophisticated tools from mature economies to local regulatory, economic, and demographic conditions, and they have created entirely new approaches that are optimized for those local conditions. The new Institute will make those best practices available to talented students who wish to participate in this dynamic field, and it will provide a research platform to support the continued development of the local real estate industry. We are enormously grateful to the visionary leaders of China’s real estate community who have brought the Institute to life.”
Donors and leadership pose with a pair of calligraphy works by Liu Dewei -- a present from the donors. From left: NYU Shanghai Associate Vice Chancellor, Ding Shuzhe, General Secretary of the NYU Shanghai Education Development Foundation, Rime Sun, NYU Schack Institute Dean & Silverstein Chair Sam Chandan, Chairman of Yufeng (F&E) Capital, Feng Lun, interim dean of the NYU SPS, Susan Greenbaum, President of UB Group, Shan Dawei, vice president and executive general manager of China Real Estate Business, Xiao Yong, and General-Secretary of the soon to be established foundation, Wang Haitao.
“In regions experiencing rapid urbanization, there is high demand for professionals with comprehensive knowledge and excellent management skills in the real estate industry,” said Dr. Feng, who is also a NYU Trustee. “NYU’s wealth of knowledge and resources in the realm of cities and real estate will provide a strong foundation for this new initiative. This partnership will serve as a catalyst for innovation and will offer a transformational education for those enrolled in its programs.”
“It is the perfect time to launch this initiative,” Susan Greenbaum, interim dean of the NYU School of Professional Studies, said at a signing ceremony on July 23. “China’s real estate markets are flourishing; and we are excited for the opportunity to be part of this tremendous endeavor, in areas ranging from development and construction, to sustainability, to property technology, to China’s emerging REIT sector.”
This institute marks yet another milestone for the growth and development of NYU Shanghai, and will expand graduate program offerings. It will mark the Schack Institute’s first partnership in China, reinforcing the strong ties that NYU Shanghai has established with NYU School of Professional Studies.