“The memorandum of understanding signed today commits government to working with Homburg and the University of Prince Edward Island in order to bring world-class, university accredited real estate education to the Island,” said the minister.

Homburg will establish a real estate university, headquartered in Zurich, Switzerland, with academic partners around the world. The Homburg Institute, an institute for research and corporate information, will host the summer schools of Homburg University, Switzerland, on Prince Edward Island.

UPEI and Homburg will work together to develop possible avenues of cooperation including: exchanges of students and academic staff; joint conferences, training and seminars; and collaboration on research, consulting and program development.

Jim Randall, Vice President Academic at UPEI, said that, “The University has established an international reputation for high quality research and academic programming. With this agreement, we look forward to working with the Homburg Group and the province to establish collaborative research and study opportunities in the area of real estate that will be of benefit to Islanders.”

The memorandum of understanding is valid for a period of five years. Future partnerships and ventures between UPEI and Homburg will be governed by their own agreements.

“Homburg is launching a unique global educational institution, with simultaneous development in Zurich, a world financial centre, and Prince Edward Island, the birthplace of Confederation. Along with an international network of academic partnerships, Homburg can provide the world’s best learning opportunities to students as it leverages its 42 years of experience in real estate to build academic excellence,” says Richard Homburg, Executive Chairman of the Homburg Group of Companies.

The new arrangement will not require changes to the University Act.

“This memorandum recognizes the central role the University of Prince Edward Island has played and will continue to play in higher education on the Island. At the same time, we are opening the door to students from around the world and establishing an important centre of research and study in the real estate industry,” said Minister Campbell. “I congratulate both parties for their vision and for their willingness to cooperate.”