Unveiling the Future of Real Estate: A Look Back at Professor Viruly's Visit

In a recent collaboration between the Construction and Real Estate Student Association (CRESA) and the Department of Real Estate, Construction Management, and Quantity Survey (RECMQS), students from the Faculty of Built Environment and Design enjoyed a captivating lecture by Associate Professor Francois Viruly. With over two decades of experience as a renowned property economist from the University of Cape Town, Professor Viruly's insights into Urban Land Economics, Property Finance, and Portfolio Management added immense value to our community.

Professor Viruly's visit to the Faculty on Friday, April 12, 2024, marked a significant milestone for everyone involved. The day began with an insightful tour of the Global Trade Centre (GTC) development in Nairobi, followed by a thought-provoking public lecture. 

During his lecture, Professor Viruly delved into the long-term trends of the property market, introducing the STEEP analysis model. STEEP, an acronym for Social, Technological, Economic, Environmental, and Political factors, offered attendees a comprehensive view of the multifaceted forces shaping the future of real estate landscapes. This analytical framework provided invaluable insights for navigating the complexities of the industry.

One of the pivotal takeaways from Professor Viruly's discourse was the emphasis on professionals carving out their niche within the industry. He highlighted the significance of developing expertise within a specific sector, cautioning against frequent sector shifts that could result in the loss of valuable networks—an asset crucial in the realms of real estate and construction.

For aspiring professionals in the field, Professor Viruly's visit catalyzed deeper contemplation and engagement with the evolving dynamics of real estate and construction. His expertise and insights enriched our collective understanding, offering a roadmap for navigating the intricacies of the industry.

We extend our heartfelt gratitude to Professor Viruly for his enlightening session, which undoubtedly contributed to shaping the future trajectory of real estate and construction in our community.