Innovation for turbolent times through new value drivers


The EMPIRE Program provides managers the right context, models and knowledge to develop an effective and innovative business strategy in the European real estate market and build concrete management results.

The program consists of 3 modules, each focused on a specific real estate issue:

Managing innovation in retail properties & digital
Milano, Italy 13-15 September 2018

Managing innovation in real estate & sustainability
Eltville, Germany 8-10 November 2018

Managing innovation in Finance & the European real estate market
Paris, France 7-9 February 2019

in partnership with:

in cooperation with:

EMPIRE key benefits

Management excellence in Real Estate

International Real Estate Business School, SDA Bocconi School of Management and ESSEC Business School: three top European Schools of Management with a strong focus and tradition on Real Estate Management Education and Research will provide an extensive focus on the most up to date models and techniques for Real Estate strategy and innovation.

International Networking

The program allows participants to enter a network of professionals, investors and public authority representatives operating on different sides of real estate and to face each managerial issue from all professional points of view. In addition to class activities, participants will have the chance to attend social lunches, dinners and cocktails with keynote speakers to stimulate networking, experience sharing and discussion on specific managerial issues.

Selected Faculty

Together with some of the most experienced educators in Real Estate Management, faculty members of the three Schools of Management, the program has invited internationally acclaimed professors and industry experts.

International Perspective vs Local Excellence

Each module approaches key managerial issues and trends in real estate with an international perspective and a focus on local specificity: finance and innovation in the real estate market in La Defence-Paris, Retail properties in Milano, housing market development in Germany.

Solution-oriented approach

Interactive case-based sessions, intensive group work, simulations, site visits to main local operators and face-to-face sessions with top professionals from the business community will allow participants to find real and concrete solutions to face new challenges in real estate.real and concrete solutions to face the new challenges in real estate.

The knowledge model

We will analyze the effects on the real estate market of present economic trends in Europe, with a focus on Globalization, Emergence of Global Value Chains and the Economic crisis. We will understand how to create a diversified international property portfolio considering the latest issues in the real estate market: the effects of retail and shopping experience on the property market, the investment opportunities in housing, the new concepts of intelligent buildings and intelligence in buildings, green property and the need for sustainability. Each module will include a thematic focus on a key local issue.

The relationship model

A selective process of participants, the team working during the program and all the social activities proposed to the class will give participants the chance to create new professional relationships and links with qualified peers. The professional network will be extended with participants of the past edition of the program who will be invited to the last day in Paris.



The program is designed for managers and professionals with 10-15 years of professional experience in the real estate sector, typically as head of fund management, investments or asset management of companies, institutions and consultant agencies involved in the development and management of real estate assets, including managers of real estate inside companies and independent company owners in real estate.
The program may also be of interest to other companies, institutions and public authorities interested in understanding the new frontiers of strategy, investment, advisory and management in real estate with an international and innovation-oriented perspective.

“Good experience due to the interaction between lecturer and/within group. I suggest a colleague attend this program because of the way of teaching and the content. Positive surprised by the quality of the content and the teachers."
Christof Buchner, Century 21, MD

“We learned new ways to create a competitive advantage in real estate. In fact, retail and hospitality are integrating trends to develop new offers to not only involve shoppers but also the environment.”
Brissy Xavier, EPADESA – Strategy Direction

“Excellent and consistent selection of themes and excellent organization.”

Marco Braun, Ell Capital Management Ag - Head of Sales

 “Great melting pot of practitioners and academics.”

Maximilian Trempton, BUP Paribas Real Estate –Associate Director

Program contents

MODULE 1 - Managing innovation in retail properties & digital
Coordinator: Giacomo Morri - SDA Bocconi, Professor of Finance & Real Estate

  • New trends worldwide
  • Real Estate Development for Retailers: present scenario, disruptive changes generated by 2008-2014 crisis, emerging and discontented needs
  • How to set up a distinguishing and attractive value proposition in terms of Retail Development: singling out and defining new potential retailers. Digital impact and attractive value propositions
  • What’s next. Designing and managing new shopping malls for the next decade: upcoming key distinguishing traits
  • Globalization and the Emergence of Global Value Chains
  • Impact in Retailing Innovation
  • Site Visit of Milan excellence in retail properties with leading local operators
  • How to define a Marketing Plan in Retail Business: the STEP methodology
  • Marketing and retail properties: final conclusion
  • Self-cases: presentation by every group, and discussion all together

MODULE 2 - Managing innovation in real estate & sustainability
Coordinator: Tobias Just– International Real Estate Business School

  • Stress test for the European Union
  • European/German housing market: Market structure and market dynamics
  • Going even further East. Real Estate in Eastern Europe: real opportunities or real risk?
  • How to invest in German residential property? Does the legal structure matter?
  • Next generation office buildings
  • Technology Strategy as a Driver for Competitive Advantage
  • Real Estate and innovation: What is different?
  • Come on - towards a Sustainable World Society
  • Sustainability 2.0 - From Green talking to Green walking

MODULE 3 - Managing innovation in Finance & the European real estate market
Coordinator: Michel Baroni - ESSEC Business School

  • Trends for the European real estate investment market in 2016.
  • How to define sustainability as a determinant of an allocation strategy?
  • Case study: How to define sustainability as a determinant of an allocation strategy?
  • Visit to an emblematic development
  • Real Estate as a risk management tool for the companies
  • Wrap up and conclusions

Please, see the Program brochure for a complete presentation of the EMPIRE contents and agenda.


  • Michel Baroni

    Professor of Finance and Director of the Executive Master in Real Estate Management at ESSEC Business School

  • Sven Bienert

    Chair for Sustainable Real Estate, IREBS University of Regensburg

  • Stephanie Birkner

    Entrepreneurial Thinking & Drivers of Innovation

  • Carlo Alberto Carnevale Maffè

    SDA Professor of Strategic and Entrepreneurial Management

  • Sandro Castaldo

    SDA Professor of Marketing and Full Professor of Management at Università Bocconi

  • Etienne Dupuy

    Head of Asset Management Europe at Invesco Real Estate

  • Inigo Echeveste

    ESSEC Business School

  • John Goodchild

    Head of Research and Strategy, Lasalle Investment Management, London

  • Tobias Just

    Managing Director at the IRE|BS Immobilienakademie and Professor for Real Estate at the University of Regensburg. Elected "Real Estate Head of the Year" in 2013 (Immobilienkopf des Jahres)

  • Pietro Malaspina

    Advisory Board of ICSC - International Council of Shopping Centres & Senior Advisor, Aedes SIIQ Group

  • Thomas Mayer

    Flossbach von Storch Research Institute

  • Marco Merelli

    SDA Professor of Economics. Lecturer at Bocconi University

  • Giacomo Morri

    SDA Professor of Accounting, Control, Corporate and Real Estate Finance and Lecturer in Corporate Finance at Università Bocconi

  • Michael Müller

    Head of Deloitte Real Estate Germany. Lecturer and publisher in "International Financial Reporting Standards (IFRS)". Member of the IFA and active member of various real estate associations

  • Franck Petel

    Member of the RICS and associated researcher in the CEROS Lab (Paris Ouest Nanterre La Défense University. Président and CFO of Lindner France SAS

  • Raffaella Pinto

    Head of Research, CBRE Italy

  • Davide Reina

    SDA Professor of Marketing and Professor of Marketing in the Digital Environment at Università Bocconi

  • Hermann Stapenhorst

    Partner, CMS Hasche Sigle

  • Klaus Töpfer

    Former Minister (Germany) for the environment.

  • Michael Voigtländer

    Institute of German Economy

  • Ernst Ulrich von Weizsäcker

    Environmental scientist and climate expert

Inquires & Applications

For further information about the program, please contact the program consultant:
Patrizia Trivellato, tel. +39 02 5836.6872 - p.trivellato@sdabocconi.it

Enrollment procedure
The final deadline for enrollment is 28 August 2018. Enrollment requests received after the final deadline may be accepted. For information about this option, please contact Pilar Aguero (pilar.aguero@sdabocconi.it).
To aid the learning process, a limited number of participants can enroll in the program. Priority will be given on the basis of the arrival date of the enrollment request form, which must be filled in, signed and sent to:
SDA Bocconi School of Management
Executive Education Open Programs Division
Via Bocconi, 8 - 20136 Milano
fax +39 02 5836.6892 - pilar.aguero@sdabocconi.it
SDA Bocconi will send written confirmation of acceptance by email.
For further information, please contact: Pilar Aguero: tel. +39 02 5836.3161

€ 9.000 plus VAT (if required). The program fee covers tuition, case materials, lunches and social events included in the program agenda.

Special Payment terms
A 10% reduction on the program fee is offered to applications sent by 15 July 2018.

Method of payment
The fee must be paid upon enrollment in one of the ways explained in the enrollment request form: cashier's cheque, banker's draft, money transfer, credit card.

Hotel accomodation

In Milano
The external agency Seneca offers a free hotel booking service and special conditions to our clients. Accommodation is guaranteed if you book at least 15 days before the program begins. If you book less than 15 days before, the agency will do its best to find a suitable and convenient solution. To book call +39 0871 803810-803614.

In Eltville
A limited number of hotel rooms are available directly at the Eberbach Monastery. To book call +49 6723 / 993-200. Please contact Laura Müller (laura.mueller@irebs.de) if further hotel recommendations are needed.

In Paris
For hotel recommendations please contact the program officer, Leila Lassouani at lassouani@essec.edu tel. +33 (0) 1 46 92 49 64

News on EMPIRE

EMPIRE 2017: the third edition started at SDA Bocconi School of Management
Read more >

Photo Gallery - EMPIRE

Milano, SDA Bocconi School of Management
Focus on "Managing innovation in retail properties & digital"

The class: discussing about Managing innovation in retail properties & digital

Visiting Eataly

Site visit: the class at Citylife









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Eltville, Germany  IREBS - International Real Estate Business School
Focus on "Managing innovation in real estate & sustainibility"

The class

Discussing about legal structures in Real Estate Investments

Dinner speach



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Paris, ESSEC Business School
Focus on "Managing innovation in Finance & the European real estate market"

Tobias Just, IREBS presents EMPIRE: A summary & analysis from the homework

Site visits to Epaseda, Grande Arche, Arena Stadium Nanterre at La Defence

The class









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€ 9000.00 + IVA