Whereas the corporate real estate function is generally not considered as a strategic field of corporate management within the organization (which explains the relative ignorance regarding real estate costs or facilities), estimates have shown that more than 25% of corporate assets are in real estate and that occupancy and property costs are the company's second largest expense item after wages and human resources. In order to take into account this field of management, ESSEC Business School has created possibility for the Industry to fund Chairs in different fields of management. As a major player in the sector, BNP Paribas Real Estate was keen to team up with ESSEC, and to fund the Chair. BNP Paribas Real Estate is directly involved in the research themes undertaken by it, as well as the programmes disseminated in lessons, seminars, tutorials and work experience placements.