Strategic planning in real estate involves identifying and setting long-term goals for a company or organization's real estate assets and developing a plan to achieve those goals. This can include analyzing market trends, identifying potential acquisition or development opportunities, and determining the best use of existing assets. The process also involves creating a budget and allocating resources to execute the plan. It also includes identifying the risks and opportunities, and making a contingency plan accordingly. In short, it is a systematic and comprehensive approach to manage the real estate assets for achieving the organizational objectives.