Real Estate Tech Innovation Professorship

The Real Estate sector is a historical and strong pillar of the Monegasque economy: His Serene Highness Prince Rainier III has been decisive in promoting this sector, notably by expanding the country’s territory by 20% via a sea extension (the Fontvieille district).

It is also a key element of the country’s wealth creation: it represents 1.2 Billion of revenue, which is roughly 18% of the GDP.

Most of all, it is a sector which fully embodies Monaco’s priority for innovation and sustainability, as wished by H.S.H Prince Albert II.

Driven by the Sovereign Prince’s will, the Government has built a full-fledged digital ecosystem, ready to support innovation in Real Estate, notably with three components:

• Leading infrastructures with the first Sovereign Cloud in Europe, 5G and Fiber fully deployed networks and a Digital Twin for all the country;
• A commitment to research excellence and an ambition to become an intellectual hub via a partnership with ESCP Business school and promising start-ups;
• A will to foster the digitalization of the Monegasque economy via multiple initiatives such as the Blue Fund (a financial support mechanism which has already funded more than 600 projects) and the Government digital training program (more than 20 events and an online course platform resulting in 2800 professionals trained).

Frédéric Genta, Member of Monaco Government in charge of attractiveness and digital transformation

Real estate plays an integral role in the economy. It creates places to live and commercial spaces for companies. Asset classes include residential, commercial, industrial, logistics, and hospitality. Real estate also contributes to the financial industry by providing a permanent source of revenue to investors. Well-known examples of such investments are mortgage-backed securities and REITs.

The ESCP Institute of Real Estate Finance and Management is determined to influence the real estate sector with our offer of education programs. The high-quality research produced by our faculty brings new perspectives to existing debates and problems.

Under the leadership of Frédéric Genta, Country Chief Digital Officer of the Principality of Monaco and alumnus, and myself, the ESCP-Monaco Real Estate Tech Innovation Program aims at transforming the real estate sector by embracing new technologies. The collaboration has several goals, including the production of the Global PropTech Annual Barometer, an annual international ‘Monaco Real Estate Tech Summit’; and the introduction of internships and junior international consultancy projects for ESCP graduate students in the Monegasque private real estate market. The Global PropTech Annual Barometer was presented is different international audiences, including the Dubai PropTech festival and the Barcelona District event. These initiatives, among others, will bring the real estate sector into a new era of more responsible, sustainable, and environmentally friendly practice, and will position Monaco’s real estate market at the forefront of innovation.

On the education front, we recognize that real estate companies often rely on well-trained workers capable of making investment decisions in an environment of complexity. ESCP now has more than 200 graduate students joining our real estate programs, including the Master of Science in Real Estate, the Master in Management – Real Estate Specialization, and the Master in Hospitality – Hotel Development track. Classes are delivered at our campuses in Madrid, London, and Paris. Field trips, live case studies, and other activities contribute to the excellence of these programs. Consultancy projects and internships in top real estate companies are a hallmark of our curriculum and help reinforce the role of ESCP as a world-leader in business education.

In collaboration with the private real estate sector, ESCP also organizes a series of round tables and seminars covering topics on residential, office, retail, logistics, property management, and project management.

ESCP also offers cutting edge executive education for real estate professionals. In this front, I am proud to announce the launching the Executive Programme in Real Estate and ESG. Students will learn about the very best practices, concepts and future trends in hotel development, retail management, logistics acquisitions, affordable housing investments, real estate capital markets, ESG, PropTech, and sustainable cities. The 5 field trips to major European capitals – Martigny (Switzerland), London (UK), Paris (France), Madrid (Spain), and Budapest (Hungary) -- complement the online courses and add value to a truly international learning experience.

Finally, my most sincere gratitude to the Executive Committee members of the ESCP Real Estate Association for their outstanding work in bringing together a community of students who are passionate about real estate development, smart cities, and urban development and who aim to start their professional careers in the real estate sector. They are doing a fantastic work organizing guest speaker lectures, field trips from which students can learn the “know-how” of the real estate development business, and network events with industry experts who can ultimately facilitate internships and job opportunities.

Jaime Luque, Academic Director of the Real Estate Professorship
Jaime Luque is a Full Professor of Real Estate ESCP Business School, where he holds the Government of Monaco’s Chair on Real Estate Tech Innovations since 2020. He is also the director of the ESCP Institute of Real Estate Finance and Management.