Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


After the course the student

  • is able to describe the development process and its phases, different actors and their roles.
  • is familiar with land policy and plan implementation tools.
  • is able to describe the relation between planning and development process and varying scopes of development processes.
  • is able to discuss the multidimensional aspects of development process.
  • is able to analyze the content and purpose of development plans.

Credits: 6

Schedule: 03.03.2021 - 14.04.2021

Teacher in charge (valid 01.08.2020-31.07.2022): Saija Toivonen, Saija Toivonen

Teacher in charge (applies in this implementation): Saija Toivonen, Saija Toivonen

Contact information for the course (valid 12.02.2021-21.12.2112):

CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English


  • Valid 01.08.2020-31.07.2022:

    • Development process and its phases
    • Different actors and their roles
    • Planning and the role of public sector
    • Scope of development
    • Market analysis and development plan
    • Valuation of feasibility of development project
    • Uncertainty and risks in development process
    • Land policy, plan implementation
    • Different aspects in development

  • Applies in this implementation:

    Lectures and exercises facilitated by Saija Toivonen.

    Guest lectures e.g.:

    Financial aspects and developer views by Antti Seppälä, YIT

    Future crises and the role of real estate development by Lassi Tähtinen, Aalto ENG

    Environmental sustainabilty and due diligence by Riikka Kyrö, Lund University

    Social sustainability in real estate development by Anahita Rashidfarokhi, Aalto ENG

    Aesthetics in real estate development by Sanna Lehtinen, Aalto ARTS

    Challenges in real estate development in rural areas by Annamari Kiviaho, Aalto ENG

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Lectures and exercises. The assessment methods and criteria will be defined in course syllabus. Preliminary and subject to change.

  • Applies in this implementation:

    Exercises: fail/pass

    Exam: 0-5

  • Valid 01.08.2020-31.07.2022:

    160 hours (6 cr). The workload per activity type will be presented in the course syllabus.

  • Applies in this implementation:

    workload: 6cr
    = 160 h
    –Lectures 32 h (8 x 2 h (contact sessions) + reflection 8 x 2 h)
    and independent
    work 65 h
    for examination 60 h
    2-3 h


Study Material
  • Valid 01.08.2020-31.07.2022:

    To be announced in course syllabus and lectures. 

  • Applies in this implementation:

    Course material will be given during the lectures. The material can be used freely during the exam.

Substitutes for Courses
  • Valid 01.08.2020-31.07.2022:

    REC-E3030 Real Estate Development

  • Valid 01.08.2020-31.07.2022:

    REC-E3600 Real Estate Market Analysis L

SDG: Sustainable Development Goals

    10 Reduced Inequality

    11 Sustainable Cities and Communities

    12 Responsible Production and Consumption

    13 Climate Action

    17 Partnerships for the Goals