DIPLOMA IN ESTATE MANAGEMENT

FACULTY OF ARCHITECTURE, PLANNING & SURVEYING

UNIVERSITI TEKNOLOGI MARA
SERI ISKANDAR, PERAK

COURSE INFORMATION

COURSE NAME : VALUATION OF SPECIAL PROPERTIES

CODE : REM 311
STATUS : CORE SUBJECT
CREDIT HOURS : FOUR (4)
LECTURER : MOHD FADZLI BIN MUSTAFFA
ROOM : AC363
TELEPHONE NO. : 0134232312
E-MAIL : fadzlimustaffa80@gmail.com

COURSE DESCRIPTION
The course introduces the application of principles into practice for the valuation of special properties.

COURSE OUTCOMES
At the end of the course, students should be able to:

CO1. Perform the valuation skills in determining valuation for special properties
CO2. Demonstrate an ethical value in valuation for special properties.
CO3. Apply the appropriate valuation approach for special properties.

At the end of the course, the students are expected to be able to carry out valuation work on special properties.

ASSESSMENT:
Tests/Quizzes 20%
Project/Assignment 20%
Presentation 10%
Final Examination 50%
100%
LECTURE SCHEDULE

WEEK LECTURE TOPICS LEARNING OUTCOMES

1 INTRODUCTION TO THE COURSE Students are expected to be able to

Entry Survey (uFuture) demonstrate the understanding of basic
A Diagnostic Test concept of property valuation
Formation of Groups for assignments/tasks.
Distribution of Task 1 and Task 2
Briefing of Task 3 and 4

2 INTRODUCTION TO SPECIAL PROPERTIES Students are expected to be able to:

DEFINITION OF SPECIALISED PROPERTIES a) Identify various types of special properties
b) Describe the characteristics of special
PURPOSES OF VALUATION properties
A review on purposes and basis of valuation c) Apply different basis for various purposes
i) Sale and purchase of valuation
ii) Mortgage
iii) Land Acquisition
iv) Taxation
v) Rating
vi) Insurance
vii) Securities Commission
viii) Financial Reporting

3 METHODS OF VALUATION – A review Students are expected to be able to :

a) Describe the components in the different
THE COMPARISON METHOD methods of valuation
i) The elements of the method b) Collate data for the different methods of
ii) Unit of comparison for different type of valuation
properties

THE INVESTMENT METHOD

i) Determinants of value
ii) Lease terms
iii) Outgoings

THE PROFITS METHOD

i) Elements of the Profits Method
ii) Analysis of three years accounts
iii) Calculation

THE COST METHOD

i) Elements of the Cost Method
ii) Determination of land value
iii) The value of the building
iv) Depreciation
4 APPLICATIONS
PETROL FILLING AND SERVICE STATIONS Students are expected to be able to :
- Characteristics of the property a) Explain the factors affecting the value of
- Factors affecting the value the different types of special properties
- Valuation b) Apply the appropriate method for the
different types of special properties.
5 APPLICATIONS
CINEPLEXES
- Characteristics of the property
- Factors affecting the value
- Valuation

6 APPLICATIONS
HOTELS
- Characteristics of the property
- Factors affecting the value
- Valuation

7 APPLICATIONS
RESTAURANT
- Characteristics of the property
- Factors affecting the value
- Valuation
8 APPLICATIONS
GOLF COURSES
- Characteristics of the property
- Factors affecting the value
- Valuation

9 APPLICATIONS
AGRICULTURAL PROPERTIES
RUBBER PLANTATION
- Characteristics of the property
- Factors affecting the value
- Valuation
10 APPLICATIONS
AGRICULTURAL PROPERTIES
OIL PALM PLANTATION
- Characteristics of the property
- Factors affecting the value
- Valuation
 11-12 APPLICATIONS Test
ENTERTAINMENT OUTLET
PRIVATE HOSPITALS
QUARRIES
- Characteristics of the property
- Factors affecting the value
- Valuation

13-14 PRESENTATION Students are expected to be able to :

PETROL STATION a) Present the findings and valuation of

CINEPLEXE special properties for various purposes.
HOTEL
RESTAURANT
GOLF COURSE
ENTERTAINMENT OUTLET
AGRICULTURAL PROPERTIES

Revision Week – 30 January to 5 February 2023

Final Exam – 6 February to 21 February 2023

REFERENCES

i) REES, W.H. Valuation: Principles into Practice, Estates Gazette, 2001

ii) DAVIES K & JOHNSON T, Modern Methods of Valuation, Estates Gazette, 2000
iii) BAUM, A. AND MACMIN, D.: The Income Approach to Property Valuation ; Routledge & Keegan Paul, 1992.
iv) RAJA ARIS RAJA HUSSAIN: Penilaian Hartanah Khas: Dewan Bahasa dan Pustaka 1991.
v) RUSHMORE, S : Hotels, Motels and Restaurants : Valuation and Market Studies,: American Institut of Real
Estate Appraisers (1990).
vi) AZHARI HUSSUN : Harta Tanah: Kaedah Penilaian, Dewan Bahasa dan Pustaka 1996
vii) MANI USILAPPAN, Real Estate in Malaysia Challenges, Insights and Issues, University of Malaya Press2006