rics global valuation

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rics.org/valuationconference

CONFERENCE

RICS Global Valuation Integrating vision and value – a new era for valuation

http://rics.org/valuationconference

An estimated 70% of global wealth is held in land and property assets (RICS, 2021), meaning valuations are arguably more important for investment in real estate than any other major asset class.

Although the COVID-19 pandemic incited extraordinary uncertainty across global markets, regeneration is on the horizon. With 2021 Global GDP growth forecast to be the fastest in 40 years (Oxford Economics, 2021) and real estate funds targeting almost $300 billion of investments, the valuation profession can emerge with new momentum.But what change has been accelerated and what’s still to come for valuers?

From the first issue of RICS guidance on the valuation of assets in 1976, things look very different. The way value is determined and reported, the advancement of technology, new client expectations, the rise of sustainability and ESG demands, changing market and social behaviours, changes to global standards and legislation have all reshaped the profession.

As the changing role of the valuer continues, the profession must stay aligned with what’s to come. The Independent Review of Real Estate Investment Valuations will look to lead this alignment.

Aimed at over 30,000 valuation professionals, including 17,000 registered valuers across over 100 countries, the global conference analyses and envisages the new era of valuation. With world-leading content and speakers across the UK, Europe, Middle East & Africa, Americas and Asia Pacific, presenting key global and local content, valuers can collaborate like never before as the profession drives through change and prepares for a new future.

rics.org/valuationconference

Date:

Book your place today:

Europe, MiddleEast and Africa - 19 & 20 AprilAmericas - 19 & 20 AprilAsia Pacific – 21 & 22 April

Consecutive half-day events

http://rics.org/valuationconference

Programme

Monday 19 April: Europe, Middle East and Africa (EMEA) Time zone: BST (British Summer time – GMT+1)

08:30 Registration and virtual networking

09:00

LIVE

Welcome remarks from EMEA Conference Chair

Javier Kindelan Williams FRICS, CEO EMEA Valuation & Advisory Services, Vice President, CBRE Spain

09:10

[GLOBAL SESSION 1 - LIVE]

Opening keynote address: New values and visions for the profession

As we transition to a period of global regeneration, the time to refocus and rebuild what’s important is now.

What priorities are key as we refocus and develop as a profession? This session unites the profession for

discussion around overcoming a period of significant uncertainty and change, actively building a diverse and

inclusive community and how the next generation of talent can adapt and flourish.

Moderator - Javier Kindelan Williams FRICS, CEO EMEA Valuation & Advisory Services, Vice President, CBRE

Spain

Ben Elder FRICS, Head of Valuation & Investment Advisory Services, RICS

Jo Winchester FRICS, Executive Director – Operational Real Estate, CBRE

John Berry, Director of Property Professional Services, Valuation Office Agency

Uche Obi FRICS, Chief Valuation Officer, Cayman Islands Government & Members, RICS Governing Council

09:50 Virtual networking and exhibition break

10:00


2021 Global economic outlook – lockdown to rebound

The global economy is on the verge of a great rebound. With global expansion forecasted at 4% in 2021, a

successful vaccine deployment and a rise in investment are key players for sustaining recovery. This

economic outlook focuses on the impact and restoration of global markets and what this means for global

real estate, and in turn valuations?

Simon Rubinsohn, Chief Economist, RICS


10:50

[REGIONAL SESSION 1 – LIVE]

Markets in minutes: EMEA regional update

The pandemic has had widely varying implications for the different markets across the EMEA region and few

have been left completely unchanged. But which markets are thriving, and which are still facing challenges?

What can we forecast for, offices, retail, logistics, hotels, leisure?

Damian Harrington MRICS, Director - Head of EMEA Research, Colliers


11:40


Valuing change – uncertain times and certain impacts

Volatility creates uncertainty. Recent market activity and trends suggest a varying degree of uncertainty for

asset valuations. The valuation of properties is no exception. Whilst some impacts are known, there is

significant need for greater transparency. This session addresses the direct impacts of COVID-19 on valuers,

in respect of financial reporting, material uncertainty, rental income challenges, market risk and resuming

inspections.

Charles Golding MRICS, Senior Specialist - Valuation & Investment Advisory, RICS

Rachel Coates MRICS, Director - Student Valuation, Operational Capital Markets, Savills

Christian Luft MRICS, EMEA Head of Retail, Valuation Advisory, JLL


12:40 [REGIONAL SESSION 2 – LIVE]

Flexing the market - alternatives and the income approach

Valuing ‘alternative’ real estate using the income approach can bring challenges around determining market

and investment value. From valuing flexible workspaces and self-storage spaces to accounting for turnover

rent within retail, we uncover why the valuer needs greater knowledge of the operation of the asset and a

range of valuation techniques.

13:20 LIVE

Closing remarks and end of Conference Day 1 for EMEA

Programme Monday 19 April: Americas (AMR)

Time zone: EST


09:00

LIVE

Welcome remarks from AMR Conference Chair

Peter M. Smith FRICS, Chair - RICS Americas World Regional Board


09:15 [GLOBAL SESSION 1 – PRE-RECORDED]






10:55


Markets in minutes: AMR regional update

The pandemic has had widely varying implications for the different markets across the AMR region and

few have been left completely unchanged. But which markets are thriving, and which are still facing

challenges? What can we forecast for, offices, retail, logistics, hotels, leisure?

Victor Calanog FRICS, Head of Commercial Real Estate Economics, Moody’s Analytics





12:45


Business valuations – what’s the future for intangible asset valuations?

Global business valuation services are poised to experience spend growth of more than $5 billion

between 2020-2024 (American Society of Appraisers, 2020). This session explores the true market impact

on business valuations and the new opportunities created due to the COVID-19 pandemic.

Kenneth J. Pia Jr, Partner & Business Valuation Industry Leader, Marcum & Chair – Business

Valuation Discipline Committee, American Society of Appraisers

Adam Smith MRICS, Managing Director, PwC

13:25

LIVE

Closing remarks and end of Conference Day 1 for AMR

Programme

Tuesday 20 April: Europe, Middle East and Africa (EMEA) Time zone: BST (British Summer time – GMT+1)


09:00

LIVE

Welcome remarks from EMEA Conference Chair

Javier Kindelan Williams FRICS, CEO EMEA Valuation & Advisory Services, Vice President, CBRE Spain

09:10


The value of virtual – the time for technology?

Technology can improve and speed up the valuation process, but is it a case of addition or replacement? How

will developments in software, big data, blockchain, artificial intelligence, support tools and automated

valuation models (AVMs) impact the future role of the valuer? Do benefits outweigh risks and concerns?

Moderator - Nigel Sellars FRICS, Senior Specialist, Land & Property Standards, RICS

Marcel de Boer MRICS, Director, Troostwijk Real Estate

Dr Sanjo Nitschke, Head of Data Analytics & AVM, on-geo

Arik Kogan, Vice President, Finance and Investment Solutions, MRI Software


10:00


Fire safety update – impact on the valuer’s perspective

Fire is a universal risk, impacting all societies, economies, and geographies. The latest RICS UK guidance

(valuation of properties in multi-storey, multi-occupancy residential buildings with cladding) creates a

consistent position for valuers carrying out mortgage valuations. This session details what’s changed in fire

safety protocols within the UK and how it could impact the role of the valuer, globally, in the future.

John Baguley MRICS, Director - Technical, Risk & Compliance, Countrywide Surveying Services


10:50


RICS Global valuation standards update

How have standards stood up to scrutiny throughout the pandemic? Transparency, consistency, and the

avoidance of conflicts of interest are proving more important than ever. This session delivers an overview of

the latest updates to the RICS Valuation – Global Standards ('Red Book Global Standards') and upcoming

developments in the pipeline for the profession.

Moderator - Ben Elder FRICS, Head of Valuation & Investment Advisory Services, RICS

Paul Watkinson FRICS, Executive Director - International Valuation & Risk Management, CBRE

Andrew Gooding FRICS, Partner – Valuation & Advisory, Knight Frank


11:40


Audit and assurance - understanding the impact of accounting standards on valuation for financial

reporting

Audit and assurance have changed, globally. The valuer-client relationship has never been more important

when reporting and evidencing fair value. This session attends to the latest IFRS16 update and discusses what

the valuer needs to consider for financial reporting.

James Fox FRICS, Head of Real Estate Valuations, Grant Thornton

Euan Hamilton, Associate Director – Valuations, Grant Thornton


12:40


Valuing ESG – modelling environmental, social and governance factors within value

ESG is increasingly front and center of investment decisions. A recent survey of global real estate investors

found that 93% of investors now include ESG criteria in investment decisions. What does such a rise in

sustainable demand mean for future decision making for valuers? What will the pending RICS Guidance Note

‘Sustainability and ESG in commercial property valuation and strategic advice’ deliver?

Moderator - Charles Golding MRICS, Senior Specialist - Valuation & Investment Advisory, RICS

Becky Gaughan FRICS, Director – UK Valuation Best Practice, Savills

James Smith MRICS, Senior Portfolio Surveyor, Aviva Investors Real Assets

Debbie Hobbs, Group Director of Sustainable Business, ISG


13:30


Complying with risk, liability and insurance in valuation work

Effective risk management is a dynamic process. There are common key risks and liabilities in valuation but is

all being considered? In accordance with the latest RICS Valuation (COVID-19) Practice Alert update, this

session delivers the latest on professional indemnity insurance, contractual terms and the importance of

good business management.

Charlie Jackson FRICS, Profession Assurance Technical Specialist – Europe, RICS

14:10 LIVE

Closing remarks and end of Conference Day 2 for EMEA

Programme

Tuesday 20 April: Americas (AMR) Time zone: EST


09:00

LIVE

Welcome remarks from AMR Conference Chair

Peter M. Smith FRICS, Chair - RICS Americas World Regional Board





10:05


The investor and lender perspective – what’s needed from the valuer?

US real estate investment volume increased to $61 billion in Q3 of 2020, following a 10-year quarterly low

of $46 billion in Q2. Investor sentiment is recovering significantly. So as the demand for real estate

recovers, despite facing key issues such as rental income challenges, have expectations of the valuer

changed from the investor and lender perspective?

Gunnar Branson, CEO, AFIRE





11:45


Hospitality and accommodation assets – valuing real estate vs. valuing business

Hotels, resorts, and hospitality venues were perhaps the first asset class to feel the effect of the pandemic.

Although the sector is expected to recover much quicker than traditional retail, what is the real impact

when it comes to assessing market value and real estate assets?

Suzanne Mellen FRICS, Senior Managing Director - Practice Leader, HVS

Chris Stickney, Associate Managing Director - Boston, Colliers Hotel Valuation, Northeast,

Valuation & Advisory Services





13:35


Commercial Mortgage Backed Securities (CMBS) – is it transforming the financing of CRE?

Since the 1990s, CMBS has and continues to fulfil an important role in the commercial real estate finance

ecosystem. As a relatively new capital source, this session delivers insight on the structure, its’ stakeholders

and how it could change the commercial financing market, indefinitely.

Ann Hambly, CEO & Founder, 1st Service Solutions

14:15

LIVE

Closing remarks & end of Conference Day 2 for AMR

Programme

Wednesday 21 April: Asia Pacific (APAC)

Time zones:

DELHI CHINA AUS

08:30 11:00 14:00 Registration and virtual networking

09:00 11:30 14:30

LIVE

Welcome remarks from APAC Conference Chair

John Talbot FRICS, Managing Director, Valuation Advisory - Asia Pacific, JLL

09:10 11:40 14:40 Virtual networking and exhibition break

09:20 11:50 14:50 [GLOBAL SESSION 1 – PRE-RECORDED]






11:20 13:50 16:50


Markets in minutes: APAC regional update

The pandemic has had widely varying implications for the different markets across the

APAC region and few have been left completely unchanged. But which markets are

thriving, and which are still facing challenges? What can we forecast for, offices, retail,

logistics, hotels, leisure?

Andrew Haskins, Head of Research – Asia, Colliers





13:00 15:30 18:30


Successfully valuing a portfolio of different asset classes

From offices to industrial and logistics, retail to hotels, we uncover the drivers behind

reaching different values for different assets. This session details the differences,

challenges and methods for successfully valuing a portfolio of multiple asset classes.

Barden Prisant FRICS, President and Founder, International Art Advisors

Jimmy Chan, Executive Director/KEO, CAPRE Management

13:40 16:10 19:10

LIVE

Closing Remarks & End of Conference Day 1 for APAC

Programme

Thursday 22 April: Asia Pacific (APAC)

Time zones: DELHI CHINA AUS

08:30 11:00 14:00 Registration and virtual networking

09:00 11:30 14:30

LIVE

Welcome remarks from APAC Conference Chair

John Talbot FRICS, Managing Director, Valuation Advisory - Asia Pacific, JLL





10:10 12:40 15:40


REITs – understanding economic drivers and regional differences

Asia Pacific REITs declined in the opening month of 2021 with a marginal 0.3% loss.

Declines were present across retail, hospitality, and industrial sectors. So, how are

current circumstances impacting valuations and investment? And, how are REITS

forecasted to perform across the region?

Dorothy Chow, Regional Director, Valuation Advisory Services - Hong Kong, JLL

James Liang MRICS, Senior Director, Head of Valuation Advisory Services – Western

China, JLL





12:10 14:40 17:40


How can the asset management sector adapt to the new reality?

In Asia Pacific, Assets Under Management (AUM) growth is expected to outpace its

American and European counterparts (KPMG, 2020). But, how are fund managers

dealing with recent challenges and working towards alleviating the impact of the

pandemic? What does this mean for the relationship with the valuer?

Hugh Andrew FRICS, Managing Director, Blackrock





13:50 16:20 19:20


ESG in practice – a case study on sustainable value

Over 70% of APAC asset owners are investing in increasing ESG knowledge and expand

related investment capabilities. This session showcases how a leading organisation

incorporates and benefits from integrating ESG into their decision making and the

future focus on the triple bottom line.

Esther An, Chief Sustainability Officer, City Developments

14:30 17:00 20:00

LIVE

Closing remarks and end of Conference Day 2 for APAC

rics global valuation

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