MCR Scholarship

MCR Scholarship

Committing to your professional development is one of the most important steps anyone can take, and the corporate real estate sector is no different. As the industry faces a period rapid change and organisations redefine the role of the workplace, this is more true than ever.

Over the past two years, we’ve been able to offer an accelerated 18-month Master of Corporate Real Estate (MCR) program in Australia. Members are now able to study the program locally and this year, we’re excited to sponsor a full scholarship to the program for a deserving CoreNet Global Australia member.

About the Master of Corporate Real Estate

The CoreNet Global MCR is the profession’s most prestigious designation. The MCR professional designation was established in 1982 as a comprehensive career development program which includes completion of six multi-day seminars within a two-year period. Continuing professional development is required to maintain the designation.

The MCR program is:

  • Relevant and practical, with a strong emphasis on learning from case studies
  • Taught by industry experts
  • Highly interactive.

As well as broadening your knowledge, studying with a local cohort helps to build deep relationships with your peers and industry experts.

Congratulations Uj!

With over 90 hours of learning across five seminars and a capstone, CoreNet Global Australia's first MCR scholarship recipient Ujwal Lakra has graduated with a Master in Corporate Real Estate (MCR).

Can you provide a brief overview of your background and experience in corporate real estate?

My name is Uj Lakra. I've been an advisor in consulting for the last 12 years in the corporate real estate, asset management and FM space. I started my career a long time ago now, with what was then known as Transfield Services, and has since become Ventia. I have been in the consulting space for the last eight years.  I currently work for MBM as a Director. I advise clients on real estate and FM strategies, portfolio management and asset management. 

Could you share some of key insights and knowledge you gained from the program?

In my case, especially within my consulting role, I've successfully applied many of the insights gained from the course. This includes leveraging frameworks and methodologies and tailoring them for practical, everyday use. For instance, determining how to craft a property strategy and understanding the essentials of workplace management. These adaptations are finely tuned to mirror the current corporate real estate landscape, considering the evolving aspects of the business world. On a personal level, taking these frameworks and methodologies and incorporating them into daily client demands and preferences has proven to be extremely valuable.

How do you continue to grow and advance in your own profession?

I believe that learning is a continuous journey. As industry leaders, it is essential that we consistently explore innovative approaches to critical thinking, employ holistic data analysis, and consider alternative methods to make decisions regarding portfolio or property management. This involves examining theoretical scenarios and staying attuned to environmental shifts in the market.

What advice would you give to someone aspiring to excel in the corporate real estate industry?

My top recommendation would be to complete the MCR course. I was fortunate to secure a scholarship through CoreNet Global Australia and joined a cohort spanning the US east and west. One of the aspects I found incredibly advantageous was the opportunity to network with corporate real estate professionals worldwide.

During the program, you'll establish enduring connections. In my class, which comprised approximately 30 to 40 participants across six seminars, we formed strong bonds. Many of us are now situated in different parts of the world, including Canada, the US, and the UK. We continue to stay in touch through platforms like LinkedIn. This networking not only cultivates lifelong relationships but also offers a broader perspective on global real estate practices and challenges. It's an opportunity to adapt valuable global insights to the Australian context.

What does the Master of Corporate Real Estate mean to you?

It represents the pinnacle of recognition in the global real estate arena. From an employer's perspective, especially if you have aspirations of working abroad or advancing your career, the Master of Corporate Real Estate is the key. It serves as a solid validation of your understanding of the real estate sector.

You can follow Ujwal's MCR journey here