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Day One: Monday 27 June 2005
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| 08.00 | Registration, coffee and tea
Hosted by:
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| 08.50 | Chairman's welcome introduction
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| | David Brush, Global Head, Real Estate Opportunities Group,
DB Real Estate, United Kingdom
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| 09.00 | Welcome Address
An update on the regulatory environment for real estate investment trusts (REITs) in Singapore |
| | Shane Tregillis, Deputy Managing Director (Market Conduct),
Monetary Authority of Singapore
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| IT'S A REIT WORLD! |
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| 09.15 | Drivers of demand for REIT - What makes Asia prosper?
- Using REIT to unleash the value of real estate assets
- How competition is changing the landscape for Asia real estate today
- Looking ahead for 2005- what’s in store for the REIT industry?
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| | Michael Smith, Executive Director/Head of Real Estate-Asia, Investment Banking,
UBS Investment Bank, Hong Kong/Singapore
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| 09.45 | The why, how and when of the development of the US REIT market
- Application and misapplication - highlights and lowlights in the history of the US REIT market
- Present and future trends for the US REIT market
- What the Asian markets may take away from the US REIT experience
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| | Karen J. Knudson, Former Partner and Head,
RREEF Real Estate Securities Funds/DB Real Estate
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| 10.15 | REITs - A valuable package . . . Have they been handled with care?
At 2003's REIT World conference, Antony Green presented on "REITs - A valuable package . . . Handle with care", discussing some of the issues surrounding REITs in the early phase of their creation and the issues that would be important to ensure a sustainable Asian REIT market. Two years on, Antony will reflect on thse observations and continuing practices that will be important for Asian REIT market viability. |
| | Antony Green, Head of Property, Investment Banking Group,
Macquarie Bank Limited
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| 10.45 | Morning refreshments
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| 11.15 | CEO Panel discussion: Asian REITs - What works, what doesn't?
- What will the investor be looking for from an Asian vehicle?
- Key factors influencing a switch from direct to indirect investments
- How sustained is REIT activity likely to be?
- Property sector mix: predicting the optimal allocation
- What is the attraction of proposed/existing REIT models?
- REITs as opposed to Asian REITs: The Luxembourg REIT experience
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| | Pua Seck Guan, Chief Executive Officer,
CapitaMall Trust Management Ltd, Singapore Philip Pearce, Portfolio Manager,
Ascendas-MGM Funds Management, Singapore Ho Siang Twang, Strategic Planning & Fund Management Manager,
ARA Trust Management (Suntec REIT), Singapore Yung Yu Ming, Fund Manager,
ARA Asset Management (Fortune REIT), Singapore Thomas Melchior, Senior Vice President - Dexia Fund Services (DFS),
Dexia Banque Internationale a Luxembourg Charles Neo, Director,
UBS, Singapore Moderator:
David Tan Wei-Son, Senior Vice President/Head of Listings,
Singapore Exchange Limited, Singapore
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| RULES OF ENGAGEMENT: EXAMINING AN EVOLVING REGULATORY REGIME |
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| 12.00 | Regulators panel discussion:
Real estate investment is booming in Asia - What do regulators think?
- What are the recent and proposed developments to legislation in Asia?
- What is the likely impact on the real estate investment market?
- Overcoming regulatory and legal hurdles
- What are the regulators’ interest and main concerns regarding real estate investment – an Asian perspective
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| | Alexa Lam, Member of the Board and Executive Director, Intermediaries and Investment Products,
Securities & Futures Commission, Hong Kong Datuk Kris Azman Abdullah, Director of Issues and Investment Division,
Securities Commission, Malaysia Lin Tung-Liang, Director, Bureau of Monetary Affairs,
Financial Supervisory Commission, Taiwan Moderator:
Richard A Johnson, Managing Director, Asia Capital Markets,
Jones Lang LaSalle
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| 12.45 | Networking luncheon
Hosted by:
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| BUSINESS DEVELOPMENT AND CAPITAL RAISING |
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| 14.00 | Panel discussion:
Successful capital raising strategies: Making your real estate fund attractive to investors
- Investors’ reactions to real estate investments in Asia for the past 12 months: where did the funds come from geographically?
- What are the sources and causes of capital inflow to real estate in the region?
- Domestic vs international capital sources
- What methods are proving successful? What are the key issues and conflicts in fund raising?
- Effective strategies for accessing the capital
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| | Nancy Holland, Senior Managing Director,
ABN AMRO Asset Management LLC, USA Philip Levinson, National Director, Client Services Asia, Property Group,
LaSalle Investment Management, Singapore Mark Fogle, Managing Director, Asia Investments (Ex Japan),
AIG Global Investment Group Inc John Cahill, Partner,
Paul, Hastings, Janofsky & Walker, Hong Kong Minoru Machida, Managing Director - Commercial Initiatives Group,
GE Real Estate - Asia Pacific
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| COUNTRY ROUND UP OF THE REAL ESTATE INVESTMENT SPACE IN ASIA PACIFIC |
The series of country-focused updates will explore on the various stages and issues of real estate investments in each country. Where are the growth opportunities and risks? What is the investment outlook and performance? Which products dominate each market?
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| ESTABLISHED MARKETS |
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| 14.45 | Australia LPT experience - What are the lessons learnt and implications for Asia?
- Assessing the latest trends, developments and outlooks of securitised property in Australia
- What are the drivers of demand for real estate investible products?
- Impact of offshore trusts and international assets
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| | Shane Oliver, Head of Investment Strategy and Chief Economist,
AMP Capital Investors, Australia
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| 15.10 | Japan - Analysing risks and rewards in investing in Japan's real estate market
- Will the rise in CMBS deals continue?
- Where are property valuations heading?
- How is economic recovery impacting opportunities in real estate?
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| | Shuji Tomikawa, Managing Director,
Mitsui Fudosan Investment Advisors Inc., Japan
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| 15.35 | Korea real estate investment market overview
- Market environment and performance
- Regulatory changes:
- Introduction of the Closed-End Real Estate Investment Funds
- Challenges for real estate investment managers |
| | Kevin Chung, CEO & Chairman,
Realty Advisors, Korea
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| 16.00 | Speed networking followed by afternoon refreshments
New for 2004! A hit with singles across the world, now you can meet the key players in your industry in a brief but fun environment! Through a rotating cocktail table format you will get the opportunity to meet all your fellow attendees face-to-face in just 30 minutes. Bring plenty of business cards along for a fast and furious interactive session.
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| EMERGING MARKETS |
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| 16.30 | Malaysia country update
- 2005 REIT guidelines. Changes again
- Assessing the increasing opportunities for international REIT managers
- New tax benefits for REIT products
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| | V Kumar Tharmalingam, Immediate Past President,
FIABCI, Malaysia
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| 16.55 | China - What needs to be done to make it globally competitive?
- Case studies on China's real estate investment
- Current regulatory environment and its implications
- The experience of solving real estate NPL from banks
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| | Geoffrey Guo, Executive Director,
Gemdale Corporation, China
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| 17.20 | India - What is stopping the Indian real estate from becoming a competitive investment vehicle?
- In the wake of above 6% economic growth, what does Indian RE hold for investors?
- Of the 338 metros with population above 100000+ in India, how many are in fact investable?
- What advantages can be derived from RE investment vehicles in India?
- What does the future hold for Indian RE Investment? Are REITs or Real Estate Mutual Funds expected?
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| | Alokita Jha, CFA, Investment Analyst,
Roulac Global Places Fund LLC, India
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| 17.45 | Day one closing remarks
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| 18.00 | Real Estate Investment World Asia 2004 Networking Cocktail reception, Grand Hyatt Ballroom
Hosted by:
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Day Two: Tuesday 28 June 2005
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| 08.15 | Registration, coffee and tea
Hosted by:
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| 08.50 | Chairman’s opening remarks
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| | Michael Smith, Executive Director/Head of Real Estate-Asia, Investment Banking,
UBS Investment Bank, Hong Kong/Singapore
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| INVESTMENT STRATEGIES AND STRUCTURES FOR REAL ESTATE |
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| 09.00 | Case study:
An institutional investor's route to international diversification in real estate
- Thinking behind international real estate
- Strategic approach and investment process
- Main investment criteria
- Experiences and challenges
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| | Michael Nielsen, Managing Director, Real Estate,
ATP (Danish 6th largest pension scheme), Denmark
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| 09.30 | Taking a strategic approach to investing in Asian real estate: Views from one of Asia's largest property developers
- How to decide if you should access the real estate market through direct property ownership, fund of funds or securities?
- Where should investors deploy their capital next to maximise returns?
- Expectations for fund performance over the coming 12 months
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| | Justin Chiu, Executive Director,
Cheung Kong Holdings, Hong Kong
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| 10.00 | Investing into China REIT products - The main event
- Economic and demographic factors driving the need for REIT products in China
- Regulatory and policy issues exacerbating fundamental demand
- Present state of regulatory policy regarding REIT products
- Alternative ancillary outcomes
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| | Morgan A. Laughlin, Managing Director, Head of Non-Japan Asia Real Estate Private Equity Group,
DB Real Estate
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| 10.30 | Morning refreshments
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| 11.00 | REIT revolution: The case for going global
- What is behind the strong performance of REITs globally in the last two years? Are funds flows likely to be sustained?
- The outlook of REIT returns in 2005. What impact will interest rates have?
- How do REITs compare globally? What countries are creating REITs and how are these markets likely to develop?
- Given the proliferation of REIT markets, what opportunities does this create?
- Going global - how to improve diversification and benefit from structural change?
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| | Scott Crowe, Director, Global Real Estate Strategist,
UBS
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| 11.30 | Cross border investments and joint venture partnerships
- Assessing the Asian REIT markets through joint ventures and fund formation
- Managing cross border investments - the advantages and risks
- Establishing and managing joint venture partnerships - what are the risks and benefits?
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| | James Hodgkinson, Joint Head Property Investment Management,
Macquarie Bank Limited
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| 12.00 | REIT Preferred Securities: The next big thing in Asia?
- REIT units vs REIT Preferred Securities. The case for REIT Preferreds.
- Case study: US REIT Preferreds. US$25 billion can't be wrong!
- Singapore: Does it make sense here?
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| | David Moritz, Director, Investment Banking, Real Estate,
Credit Suisse Singapore
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| 12.30 | Networking luncheon
Hosted by:
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| REAL ESTATE FUNDS MANAGEMENT |
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| 14.00 | Lessons learnt from the international experience - CaIPERS perspective on real estate investment in 2005
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| | Michael McCook, Senior Investment Officer,
CalPERS (Investments - Real Estate), USA
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| 14.30 | Panel discussion:
On capital inflows, asset allocation and management: How do leading fund managers rate the Asian real estate market?
- How much capital is coming into Asia? Where is it coming from?
- What approaches attract institutional investors and what are appropriate for HNW individuals?
- With the drive for transparency, improved benchmarking and improved investment products, what are the impacts on allocation to real estate?
- What is considered “good performance” for investors who are looking at widening their real estate portfolio?
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| | John So, Head of Fund Management,
Grosvenor Steven Buller, Porfolio Manager, Real Estate Securities,
Fidelity Investments, USA Shane Oliver, Head of Investment Strategy and Chief Economist,
AMP Capital Investors, Australia David Edwards, National Director,
LaSalle Investment Management Chris Reilly, Director of Property, Asia,
Henderson Global Investors, Singapore Moderator:
David Schaefer, Managing Director, Head - Asia Pacific,
Citigroup Property Investors-Asia/Pacific
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| 15.15 | Power Panel Plenary:
Examining the latest developments for property developers worldwide - Where do opportunities in real estate investment lie?
- Reviewing the performance of the various sectors and trends in property investment
- Which sectors are capital-rich and which are capital starved?
- Where and what are the opportunities in Asia? What are the risks?
- Strategies property developers employ: which assets should be securitized, which assets should be disposed of, which should be put in REITs?
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| | Justin Chiu, Executive Director,
Cheung Kong Holdings, Hong Kong Ian Hawksworth, Executive Director,
Hong Kong Land, Hong Kong John A Crawford, Executive Vice President,
HDG Mansur Capital Group, USA Wilfred Wong, Vice Chairman and Chief Operating Officer,
Shui On Land, Hong Kong Gordon G Benton, Senior Executive Advisor,
PT. Lippo Karawaci Tbk, Indonesia Moderator:
Boaz Boon, Head of Research,
CapitaLand, Singapore
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| 16.00 | Afternoon refreshments
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| FINDING THE RIGHT VEHICLE TO TAKE EXPOSURE |
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| 16.30 | Capitalising on new and innovative real estate Islamic fund investment opportunities
- Which real estate funds lend themselves most readily to Islamic funds?
- What Islamic real estate fund innovations can we expect to see and how can banks and fund managers exploit them?
- How effective a tool are real estate securities for Islamic portfolio divestment?
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| | Moin Uddin Malim, Senior Vice President, Asset Management,
Dubai Islamic Bank, UAE
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| 17.00 | Key issues to successful development in China
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| | Katrina Cunningham, Chief Executive Officer,
Eagle Dragon Group, USA
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| 17.30 | Day 2 closing remarks and end of conference
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Day Three: Wednesday 29 June 2005
Choose from 3 different Post-conference Masterclasses
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