Different views: the value of education beyond the classroom

Carla: I'd advise her to approach this journey with curiosity and confidence, and to see it, right from the start, as a great opportunity. It will be challenging and, at times, tiring, but it will definitely be worth it.

Claudia: To prepare herself for an intense but extremely stimulating journey. At first, I was worried I wouldn’t be able to balance my work, my personal life and my studies, and that I’d have to get to grips with subjects well outside my field of expertise. Today, I can say it was well worth it: it was an experience that took me out of my comfort zone and enriched me in so many ways.

Nicolò: I would say to him, with a smile, “Get ready: it’ll be an intense journey, but one to make the most of.” It’s an important opportunity to give more structure to the skills you’ve developed on the job and, above all, to broaden your perspective. I’d advise him not just to look for confirmation of what he already knows, but also to approach the modules that seem furthest removed from his own field with curiosity: property finance, taxation, investment instruments and vehicles, and asset development and valuation. It’s only by stepping outside your comfort zone that you can gain a better understanding of the sector as a whole. Finally, I would tell him to participate actively and be part of a team. Engaging with people who face similar responsibilities and challenges from different perspectives helps you grow and can open up avenues you hadn’t previously considered.

Carla: The Master’s programme has been an important addition to my training, enabling me to acquire new skills and broaden my understanding of the real estate sector, from a strategic and financial perspective as well. It's also brought me new friendships and valuable networking opportunities. Being able to complete a postgraduate qualification at this stage of my career has made this achievement all the more significant and has confirmed that there's always room for further growth.

Claudia: A much broader perspective on the world of real estate, enabling me to discover financial, strategic and property development aspects that I had only a partial understanding of. I hadn’t expected such a rich exchange of ideas with people from such diverse backgrounds; hearing about their different experiences was a real bonus. And, of course, I made professional and personal connections that I will take with me.

Nicolò: The Master’s programme has equipped me with new tools, a new language and a new way of understanding the real estate sector. It has enabled me to combine my technical expertise and investment planning experience with a more solid understanding of economic and financial issues.
Today, I can evaluate a property development not only in terms of technical feasibility and cost, but also in terms of cash flows, returns, risk, payback periods and the investment’s ability to generate or preserve value. The modules on asset valuation, taxation and investment vehicles have also helped me understand how the structure of the transaction, governance and tax implications can influence its overall efficiency. The project work made all this very tangible. We tackled the development of a large mixed-use district, working on demand analysis, benchmarking, the functional mix, phasing and financial indicators. In the final project work, we applied a corporate real estate approach, linking the economic viability of the project to the strategic value generated for the company, its people and the local area.
Finally, I hadn’t expected so much practical detail in the contributions of the experts. They didn’t just share theoretical models, but also decisions, challenges and real-life experiences.

Carla: The biggest challenge was managing to give the right amount of attention to work, family and my studies, especially during the busiest periods. I’ve learnt that I don't always need to rush, but it’s essential not to lose my direction. The real challenge was to keep moving forward without losing sight of the goal.

Claudia: Probably maintaining my commitment. A weekend of lessons every other weekend for over a year requires organisation, perseverance and a few sacrifices. I had to learn to manage my time even more effectively, but seeing the results I’ve achieved has more than made up for the effort.

Nicolò: The main challenge was managing to ‘reset’ my mind after a week’s work and dedicate the required attention and energy to the Master’s programme. On a personal level, the greatest sacrifice was regularly setting aside a day away from my family.
I made this sacrifice in the knowledge that it was an investment in my future career: an opportunity to build on my skills, acquire new tools and open up avenues that I would have been unlikely to explore through my day-to-day work alone. It was demanding, but I felt it was an opportunity not to be missed and that the value of what I was building would more than make up for the sacrifice.

Carla: In my new role at Leonardo Global Solutions, I'll be dealing with issues relating to asset management and operating costs, as well as those linked to property investments and construction contracts. The skills I acquired during the Master’s programme will help me do this with a greater focus on economic, financial and strategic aspects, on maximising the value of assets, and on assessing alternative scenarios.

Claudia: The skills I use most often are definitely in the area of finance. A better understanding of business cases, financial indicators and investment logic helps me approach projects with a more comprehensive view and engage with a range of stakeholders, including those outside the real estate sector itself.

Nicolò: Undoubtedly the ability to take a broader view and consider every technical choice as a capital allocation decision as well. In my role, this means not limiting myself to individual projects, but comparing different initiatives, assessing their priorities, benefits, risks, CAPEX and OPEX, thinking in terms of scenarios and sensitivity analyses, and developing a coherent plan at portfolio level. It also means considering the asset’s life cycle and less immediately visible benefits, such as avoided costs, resilience and business continuity.
The modules on asset management, sustainability, climate risk and technological innovation have helped me to view these issues not as separate or purely regulatory matters, but as variables that can have a tangible impact on value, risk and investment decisions.
Then there are the soft skills: active listening, negotiation, the ability to understand others, and relationship management. These skills are useful when coordinating colleagues, liaising with managers and dealing with stakeholders, service providers and procurement departments.

Carla: It was one of the most important aspects of the course. Discussing issues with colleagues allowed us to examine similar problems from different perspectives, bringing together diverse professional experiences, skills and insights. Talking with lecturers and industry professionals also enabled us to link theoretical concepts to real-life cases, market dynamics and actual decisions. Often, the most useful insights arose from those discussions rather than from individual lectures.

Claudia: It was one of the most valuable aspects of the Master’s programme. We had the opportunity to engage with lecturers and professionals of the very highest calibre, who brought with them practical experience and different points of view. But the greatest benefit was working side by side with my colleagues Carla and Nicolò: this experience enabled us to build an even stronger partnership, culminating in the final project.

Nicolò: It was crucial. Right from the start, a very close-knit group was formed, comprising around a dozen people with different backgrounds and outlooks. This allowed us to look at the same issues from the perspective of those working in different areas of the real estate sector, which enriched the lessons and the project work. Each participant brought their own way of interpreting data, assessing risks and devising solutions.
The lecturers were very helpful too, not only during the lessons but also afterwards, when it came to answering questions and providing further insight. I think the fact that we all completed the course feeling satisfied and with a smile on our faces is a good reflection of the human value of the experience.

Carla: One of the most significant moments was the final project. Working on a complex project – starting by analysing an area and then defining a concept, a functional model and an economic and financial assessment – brought together most of the skills we had developed during the Master’s programme. It was also an important exercise in collaboration with Claudia and Nicolò: exchanging ideas, finding a common language, making decisions and developing a joint proposal made it a truly professional experience, as well as an educational one.

Claudia: I especially remember the session with the speakers from Leonardo Global Solutions, during which – amongst other initiatives – a project that had won the Group’s Innovation Award was presented. That example made us think about how a business need can be transformed into a tangible opportunity for development. In fact, it was one of the ideas that inspired our project work.

Nicolò: Rather than a single lesson, what I remember is the link between two aspects of the Master’s programme. The first relates to the modules on strategy, negotiation and analysing the behaviour of negotiating partners. They helped me understand that, in order to build an effective relationship, it's not enough to have a good technical solution: you need to be able to interpret the interests, expectations, priorities and context of the people you're dealing with.
The second point emerged during the final project work on the Leonardo District, when we had to balance the economic and financial sustainability of the project with its strategic value for the company. It was an analysis that closely reflected the reality of corporate real estate: a return on investment is necessary to ensure the soundness of the investment, but the decision must also take into account the benefits generated for people, the business and the local area.
I find these lessons particularly useful when managing staff, in my dealings with managers and when engaging with the company’s various stakeholders.

Carla: My advice would be to view the Master’s programme not simply as a series of lectures and topics to be learnt, but as a genuine opportunity for interaction and personal growth: take an active part, get to know people and let their experiences enrich you. I'd also suggest not waiting for the perfect moment to invest in your own education, because it will probably never come; sometimes it's during the busiest periods that we discover resources and abilities we never thought we had.

Claudia: To approach it with curiosity and not limit yourself to just the lectures. Ask questions, discuss things with your fellow students, make the most of networking opportunities and be open to learning from different areas of expertise – that’s what makes this a truly special experience. And, of course, be prepared to roll up your sleeves!

Nicolò: I would advise against focusing on the number of weeks or days it takes to complete the course, but rather on the opportunity that lies before you. You need to participate actively, ask questions, engage with others and get involved. Simply being present isn't enough: the more you immerse yourself in the content, the discussions and the project work, the greater the value you'll take away from the experience.
I would also suggest not judging the modules solely on the basis of how closely they relate to your own work. Some topics, which may initially seem less relevant, can offer the most innovative insights. The key is to be able to make connections between the various subjects studied and apply them to your own professional experience.