Whereas the course entities offered in the context of real estate education courses usually take the form of lectures or seminars, project work which confronts students with a real-estate task for which solutions need to be systematically developed, complements the practice side of the curriculum. As students have already attended some theoretical classes when the projects start, they have most of the theoretical knowledge required for the given task. The participants are expected to show a high level of initiative and make an active contribution to the project. Work in small groups fosters synergy effects between the group members, and the input of different technical skills from each group member is welcome. This contribution presents the project contexts and modalities developed at the Vienna University of Technology. Projects may be distinguished according to whether they relate to an existing structure or a new construction project. The first project activity for students is the design of residential or commercial properties. At a second stage, they are given the task of developing feasibility studies for properties in Vienna in need of renovation. One project may cover several sites. A separate class is devoted to project work on an ìappraisal reportî. Work on a project basis constitutes one fifth (24 ECTS) of the overall course work (120 ECTS). After an initial introduction and explanation of the modalities, individual project tasks are set. During the life of the project, participants have regular meetings with the lecturer and are expected to submit progress reports for the individual project milestones. Each of the small groups is given different milestones which will later be aggregated for the final report. This modus also enables a benchmarking process at the end of the project. If there are deficits which prevent the setting up of balanced groups, any identified gaps in knowledge are addressed through special coaching sessions. A MOODLE-based e-learning-environment provides a very useful platform for the group work.