Hosted by

Timing
Registration will be at 0830hr. The masterclass will run from 0900hr through to 1230hr. Morning refreshments will be served around 1030hr.

Objectives
This masterclass is mainly targeted at participants with an interest in the Chinese real estate market to familiarise themselves with how the Chinese conduct their businesses and the importance of “relationship” (Guan Xi) in doing business with Chinese. Mainly with a real estate context, the session brings out the social, cultural and regulatory factors affecting joint ventures between a foreign and local partner in China, the hurdles faced by foreigners and how to overcome common obstacles in dealing with Chinese counterparts.

Workshop Agenda
This is an interactive workshop with presentations, examples and real life case studies involving: -

Steps & Issues in Setting Up a China Operation 

- Trends in JVs, WFOEs and acquisitions. Why do one or the other? 
- Steps and issues: Selecting geographic location, specific site search, market 
  research, establish legal entity
- IP protection, recruit staff, local suppliers, outfit space and begin operations.

Understanding the Chinese Legal and Regulatory Systems: Latest Developments 
- Recent decisions by the Chinese government 
- Political risk – local and federal 
- Sources of law, legislative and administrative 
- The Chinese Courts: judicial method; the influence of local governments 
- Coping with legal uncertainty 
- Controlling bureaucratic discretion through administrative law 
- The impact of WTO membership on Chinese legal institutions 
- Chinese trade regulations and antidumping measures

Cultural Issues in Doing Business in China
- Law and business practices- how the cultures differ 
- Understanding the Chinese mindset 
- Learn the cultural differences and improve chances of success

How to Succeed in China - Final notes and ideas to take away

About your workshop leader
Blaine Turnacliff, Managing Partner, Lehman Lee & Xu, China

Blaine Turnacliff is Managing Partner of the International Department in Lehman Lee & Xu's Shanghai office.

He has a broad range of corporate, M&A and commercial experience, including finance, joint ventures, corporate restructuring and foreign investment. Recent projects include overseeing the structuring and set up of a franchise system for BBC which will allow them to open 250 Teletubby concept stores across China,
structuring of Tetrapak’s new Chinese R & D Centre and structuring the acquisition of one of China’s leading media groups by a large European advertising company.

    Hosted by

15 quality China projects showcase - the most effective bridging between China projects and international investors

With this unique projects showcase, Terrapinn, and Strategy China Partner BAZO, are determined to be innovative in creating value for both China project owners and international investors.  BAZO will start preparation work 4 months before the conference.  The reviewing process includes: screening projects, collecting data, site visiting, preliminary due diligence, and writing of investment summaries. Out of an estimated pool of 100 projects, only 15 will be short-listed, pre-qualified and finally presented at the REIW 2007 China. 

This session is by invitation only; qualified investors will receive project summaries well ahead of the conference and can further communicate with BAZO and the project owners at the showcase session.

Why is this showcase innovative and effective?

• No upfront fee
  Unlike other conferences, BAZO insists on not charging showcase scale urban knowledge and fees. No project can “buy” itself into the session. Our strict investment selecting criteria ensures project quality and that only quality projects are showcased for investors’ evaluation. 
• Solid preparation
  4 months pre-conference work conducted by real estate and finance professionals with in depth market knowledge and connections  
• Wide project variety
  Existing buildings, developing residential and commercial projects, governmental infrastructures, potential IPOs, large scale urban developments and projects in tier 2 emerging markets. 
• Other potential projects
  Not all investment opportunities are suitable to be showcased in an open session. Investors can further communicate with BAZO in gaining access to other potential China projects.
  

Registration will start ar 1330hr.  The project showcase will run from 1400hr through to 1730hr.  Refreshments will be served around 1530hr.

BAZO is a leading China market focused investment advisory and management firm.  
www.bazo.com

    Hosted by

• Macro-economic environment and the influence on China real estate - The role and position of China real estate on the national economic health
• Analysing China’s demographic composition and how it is impacting China’s real estate developments
• Cooling measures in the industry coming into play – should it be affecting investors’ bullish sentiments about the Chinese market?
• Projecting China’s real estate outlook in the next 10 years - China’s urban development master plan, major regions of growth and government’s influence on foreign direct investments  

• The current state of industry – why real estate investment makes sense in China now
• What investment and acquisition strategies work well in China and what doesn’t?
• Promisingly bright or simply overhyped – what does the future hold on investment outlook and trends?

• Examining the market size and customer base critical to justifying investments in China’s retail sector and the determinants for success in the Chinese market
• Balancing between direct and indirect investments
• Incorporating China properties as part of a foreign REIT portfolio – the CapitaLand experience
• How will retail investment in China change with the successful launch of cross-border REITs and what are the risks and precautions look out for?

• Competitive cities in the 21st Century will be those that manage to flourish economically and provide appealing living environments despite global uncertainties
• Vision for China's urbanization development - factors that will determine its success
• Learn from studying urban trajectories of developed countries and examining urban regions that are world class leaders in providing certain functions
• Building modern cities with Chinese characteristics - what should Chinese cities look like?

• What are foreign players’ strategies for growth and sustainability in a country as diverse as China?
• How can foreign players capitalize on the current unlimited opportunities in China’s real estate industry?
• Is the regulatory realm affecting development and investment projects?  What are the risks and how can they be avoided?
• To JV or not to JV - are joint ventures necessary for foreign players entering the China market and to what extent can it help to facilitate entry into high barrier property sectors in China?

• Tracking the development of commercial real estate in China – looking back & looking ahead
• Current and future demand for office space in prime and non-prime locations
• Projecting office rental income over the next 5 years – is the market on an upward trend?
• Investing in office space now and going forward – what are the opportunities and challenges involved ?

Chairperson:
Kurt Roeloffs, Head of RREEF Asia Pacific,
RREEF

• Sponsor’s perspective – cost versus liquidity
• Knowing who you are dealing with
• The lender’s perspective – bank’s view and institutional investors view
• Buy and hold versus liquidity

• Understanding the impact of recent changes in FDI regulation on financing strategies
• How can project financing be best tailored to project development to match these demands
• Risk and Return evaluation

• Investing in distressed property and NPLs - What are the opportunities present in distressed property and how do we sift out the treasures from an ocean of non-performing loans?
• The current financing market for distressed property in China - What are the various financing instruments and options?
• What trends are we seeing in the investment market for distressed properties across Greater China?
• How is the regulatory landscape in China helping/hindering investments into distressed property and NPLs?

• Impact of Circular 171

• Case Studies

             - CMBS - Dynasty Assets Holdings Limited

             - REIT - GZI REIT

• Structuring for a debt raising platform for Chinese real estate assets

• Exploring the various capital raising structures in Chinese real estate – the most common and the less ventured routes
• Going the IPO route - How is the growing popularity in IPO impacting funding amongst developers? What are the key ingredients to a successful IPO and the trends moving forward?
• Making the right choice between local vs. foreign financing, debt vs. equity financing - What are the right mix, best practices and innovative tools in the years ahead?

Venue:  China Ballroom, Pudong Shangri La Shanghai

The award-winning Pudong Shangri-La Hotel is located in the Lujiazui Finance and Trade Zone of  Shanghai. It enjoys easy access to both Hongqiao and Pudong international airports and is also close  to the subway connecting Pudong to Puxi (West Shanghai). Prominently sited along the famous  Huangpu River, the Hotel has breathtaking views of Shanghai's legendary riverfront - the Bund and the  Oriental Pearl TV Tower.

• Overview of tier 2 cities development with solid cases
• List of current and emerging investment opportunities
• Leverage on your local partners' strength, marriage can lead to happy ending

• An update on the property valuation trends in Greater China (Hong Kong, mainland China and Macau)
• How should investors value properties across cities and sectors in China?
• What are the main assessment criteria and key factors affecting property valuation in Tier 1 and Tier 2 cities?

• What’s worth investing in the gateway cities of Shanghai, Beijing and Guangzhou and booming tier 2 cities like Nanjing, Chongqing, Chengdu, Tianjing, Wuhan?
• How do the tier 2 cities fare in attractiveness, growth potential and yield compared to their more secured and stable tier 1 neighbours?
• Which are the emerging tier 2 cities, how to invest and what to invest? How do you successfully structure your asset allocation portfolio across these cities
• Trends on future development and investments into the tier 2 region

We’ve taken the headache out of networking! Meet the key players in your industry in a brief but fun environment. You’ve learned about strategic opportunities, now it’s time to meet the fund managers, property companies and specialist advisors and strike up valuable one to one meetings with your prospects. Through a rotating cocktail table format you can now gain personal introductions to the decision makers who are your potential clients and partners. Bring plenty of business cards along for a fast and furious interactive session!

• Overview of industries and dynamics which are contributing to Macau's growth
• The convergence of the tourism, casino gaming and real estate sectors in Asia
• Future real estate development strategy and innovation requirements

• Is the gaming industry in Macau shifting from a purely casino-hotel setup to a one-stop entertainment site that encompasses casino, retail, hotel, F&B, etc.?
• How will the integration of Macau’s real estate with the casino gaming industry impact investment landscape?
• Luxury residences – is this the next big thing in Macau?
• Riding on the China waves – what potential does Macau possess in investors’ eyes?

Venue: China Ballroom, Pudong Shangri La Shanghai

The award-winning Pudong Shangri-La Hotel is located in the Lujiazui Finance and Trade Zone of  Shanghai. It enjoys easy access to both Hongqiao and Pudong international airports and is also close  to the subway connecting Pudong to Puxi (West Shanghai).

Prominently sited along the famous  Huangpu River, the Hotel has breathtaking views of Shanghai's legendary
riverfront -the Bund and the  Oriental Pearl TV Tower.

    Hosted by

• Evaluating the market factors coming into play in the residential market

• Assessing the potential in and demand for high-end and luxury residences, consumer price sensitivity and opportunities for developers in this sector

• How is the chain of new central government measures and increase in land taxes impacting developers, investors and home buyers in China?

•  Future market trends and outlook – what is expected down the road in the next 5 years?

 

• What are the implications of public real estate (REITs) for the local real estate markets?
• How are cross-border REITs shaping the acquisition climate in Greater China? What marks a good buy, how should REIT managers invest into China REITs and how can China property be incorporated into their portfolios?
• Offshore REIT listings – what are the prospects and impediments of listing China properties as offshore REITs as a capital raising tool?
• Future trends and challenges – overcoming the hurdles faced in the REITs marketplace

• Overview of public and private REIT structures in the US and Asia
• Examining the tax, legal and regulatory practices between US and Asia – the similarities and differences
• Applying US best practices on Asian REITs

• What Chinese real estate investment opportunities are attractive to international investors and why?
• How do international investors access Chinese real estate opportunities?
• What sectors are looking most attractive?
• What are the pitfalls that international investors must be wary of in Chinese real estate investments?

• How do private equity investors assess the roles and prospects of private real estate investment in China? What are the key sectors that matter to investors now?
• How do boutique fund managers and international fund managers differ in investment interests and strategies and what types of investments appeal to these two groups of investors?
• What role plays real estate in the mindset of institutional investor today and tomorrow? What determines the decision to invest directly versus indirectly and vice versa?
• Against all odds? How will restrictions on foreign investment impact investors’ investment strategies?
• Examining the do’s and don’ts of private equity real estate investing in China – the most common mistakes made in real estate investment and lessons you won’t find in textbooks

hosted by

• A look at the existing manufacturing, warehousing, industrial parks and zones and available land for future development in China
• Evaluating the trends and demand in industrial real estate development
• Assessing the potential for industrial sector investment – potential returns in the short, medium and long term
• Exploring the pitfalls and problems to avoid in China’s industrial sector

• Assessing the demographic demand for investment in leisure property in China
• Evaluating current concept / structure of leisure investments – a comparison between international and China standards
• Measuring the ROI – comparing yield vs. risks

• The market outlook of hotel, industrial, retail and leisure properties - how does alternative real estate rank in investment value compared to the core sectors?
• Retail – How can investors and developers milk the unlimited potential in the retail sector? What will be the drawing factors for retailers in the coming years?
• Hotel & Hospitality - Where are the hotspots for hotel developments across Greater China? How will the emergence of service apartments and budget hotels impact future developments and trends?
• Industrial / logistics zones – Where lies the potential and how is China as THE manufacturing hub of the world changing the industrial property landscape and investors’ appetite?

• Sound demographics, improving economy and increasing corporate demand on China’s future real estate need
• Forecasting the investment opportunity in China (capital stock/flows) and the internal and external threats against China investments
• Emerging capital market (investment style, opportunity/institutional) – comparing and contrasting practices between China and international markets
• Role of Chinese capital in global market – the awakening of the Chinese capital dragon

• Comparing and contrasting growth between developed and developing Asia - Can China remain the apple of the investors’ eye?
• How is international competition shaping the Chinese real estate landscape? How is China itself shaping the Chinese real estate market?
• Between China and India, where do you put your monies for highest profits in the two hottest emerging markets in Asia?
• Looking beyond – Where do developers see potential and growth in the vast Greater China market? Are there any gold in tier 3 cities? What does the future hold for Chinese real estate investment?

        Hosted by

Timing
Registration will be at 0830hr. The masterclass will run from 0900hr through to 1600hr. Morning refreshments will be served around 1030hr and lunch around 1230hr.

Objectives
You will examine a number of key corporate issues in the REIT market including the diversification strategies to be adopted and a number of corporate finance issues such as capital structure and dividend policy. This session also covers the primary means of analysing both operational and share price performance of REITs.

Workshop Agenda
This is an interactive workshop with presentations, examples and real life case studies involving: -

- REIT IPOs
- Portfolio Strategy: Diversified or Focused?
- Dividend & Debt Policy
- Premium/Discount to Net Asset Value (NAV)
- Measuring and Analysing Funds from Operations

About DLA Piper
DLA Piper is a global legal services organization with offices across Asia, Europe, and the US. Over 3,000 lawyers across 54 offices and 20 countries provide a broad range of commercial legal services.  With over 450 real estate lawyers worldwide, our REIT, real estate and real estate capital markets practice is one of the most highly ranked in the world. The firm also has leading practices in commercial, corporate and finance, human resources, litigation, regulatory and legislative, and technology, media and communications.