15 January 2013 in Hamburg the final stage of 9th edition of European Real Estate Challenge (EREC) took place. This is the international educational project sponsored by Cushman&Wakefield in cooperation with Investment and Real Estate Department at the Warsaw School of Economics and Kingston University from Great Britain. Three Polish students, chosen representatives of Investment and Real Estate Department at the Warsaw School of Economics and Cushman&Wakefield's employees took part in the final.
“We are convinced that EREC is one of the most valuable educational programmes in the field of commercial real estates in Europe. We cooperate successfully with the Warsaw School of Economics and Kingston University from Great Britain. In Poland we are the only sponsor of this programme. We support both our and international students,” says Dorota Skowrońska, HR Manager at Cushman & Wakefield.
The 9th edition of the programme began in October 2012. Participants' task was to find an optimal location for a new seat of an imaginary enterprise Entertainment Co. In each edition, three stages are carried out. At the first stage, students had to analyse the company's needs in order tp construct a relocation strategy. The second stage was connected with a two-week stay in Hamburg. During this stay, a three-day trip to eight European cities was organised where participants had the opportunity to learn more about a local commercial real estate market. During the last stage, participants were to prepare a presentation on the new seat for Entertainment Co. This year's edition challenge was to find an office real estate with historical features. Students acquainted themselves with regulations on revitalization of buildings and possibilities how to receive a public support.
“Participation in the final of EREC project is very prestigious for students. This opportunity receive only a few people from each country. Participation in the porgramme allows students to gain practical knowledge on functioning of the commercial real estate market. It is also a chance to check one's strengths and weaknesses through working with students from other European and American universities,” underlines Paweł Nowakowski, the EREC project coordinator at Investment and Real Estate Department at the Warsaw School of Economics