The Masterclass “Change the Real Estate Industry”, initiated by the non-profit Greyfield Foundation in cooperation with the University of St. Gallen (HSG), is being further developed into an official Certificate of Advanced Studies (CAS). This transformation elevates the commitment of both institutions to promoting change in the construction and real estate industry to a new level. What was originally a compact executive education format for leaders is thus becoming a comprehensive, part-time university programme. The Masterclass premiered in 2025, with the second iteration planned for October 2026. The first cohort of the new CAS programme will commence in autumn 2027.
Sarah Dungs, Board Member of the Greyfield Foundation, highlighted the significance of this development. She explained that the evolution into a CAS represents a great success and confirms the chosen approach. The goal was to empower leaders not merely to understand transformation, but to actively implement it within their companies. The establishment of a permanent university programme underscores the substantial need for such qualifications in the industry.
Transformation of the construction and real estate industry requires new leadership skills
The programme is based on the understanding that the construction and real estate industry faces profound changes. Factors such as decarbonisation, digitalisation, artificial intelligence, new value creation models, increased regulatory requirements and volatile markets not only influence business models. They also place new demands on leadership positions. The future CAS programme therefore focuses on how leaders can find their bearings and make sound decisions in an increasingly complex environment when clear answers are lacking.
The executive education programme is not limited to mere knowledge transfer. It combines scientific insights from the University of St. Gallen with concrete challenges from corporate practice. Furthermore, it integrates personal leadership development, peer coaching, and exchange with experienced personalities from business, science, technology, and other sectors. Dr. Christoph Mund, Programme Director Change & Innovation at the University of St. Gallen, emphasised that transformation largely hinges on the ability of those responsible to make decisions under uncertainty, to involve organisations in this process, and to consistently implement changes. Precisely these skills are to be imparted within the framework of the programme.
The planned CAS programme, scheduled to start in autumn 2027, will be conducted in German. It is titled “Leading the Real Estate Industry” and comprises three in-person modules in St. Gallen and Munich. In addition to module-related performance assessments, participants will undertake a company-related transfer project, which will be presented at the conclusion and jointly reviewed with lecturers and other participants.
Structure and objectives of the CAS programme
The CAS programme is structured into three modules and is accompanied by a learning journey with peer coaching and individual sparring. Participants can bring real challenges and transformation projects from their own company context and work on them throughout the programme duration, thereby linking executive education directly with practical implementation in the company.
- —Module 1: Focus on one's own leadership personality, decision-making under uncertainty, providing orientation, and increasing personal effectiveness.
- —Module 2: Consideration of teams and organisations, with topics such as the psychology of change, corporate culture, and the implementation of strategic transformation.
- —Module 3: Future of the construction and real estate industry, covering decarbonisation, digitalisation, artificial intelligence, new value creation models, scenario planning, and innovation.
A special feature of the concept is the development of a protected knowledge system with an AI-based coach. Insights and experiences from the programme are to be bundled and made accessible to participants for specific questions in their day-to-day leadership. This aims to create a learning community that extends beyond graduation.
Prof. Dr. Roland Füss, Professor of Real Estate Finance at the University of St. Gallen, explained that the construction and real estate industry possesses enormous specialist knowledge. The central question is how to generate change from this. He emphasised that the aim is not a traditional executive education course where knowledge is merely taught and tested. What matters is what concrete changes participants bring about in their companies. This transfer concept was already at the core of the Masterclass and will be consistently continued in the CAS programme. For the Greyfield Foundation, the CAS is an integral part of its broader commitment to the transformation of the construction and real estate industry, with the goal of initiating knowledge transfer and bringing stakeholders together to embed change across the industry.
