Real Estate, Hospitality and Construction in the Middle East real estate, hospitality and leisure...
Transcript of Real Estate, Hospitality and Construction in the Middle East real estate, hospitality and leisure...
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What’s
InsideOur commitment to the global real estate, hospitality and leisure industries 4
Our market knowledge and experience 5
Our spectrum of services to the industry 5
Our specialIty advisory services 6
Project management 8
Our real estate ownership lifecycle 9
Our methodology 10
The right team 11
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Our commitment to the global real estate, hospitality and leisure industries
Part of an integrated global real estate teamEY is one of the largest integrated real estate practice in MENA. With 7,000 professionals providing audit, tax and transaction advisory services to real estate owners, investors, lenders, developers, managers and users.
Unique and borderless approachOur unique approach combines entrepreneurial thinking and a working knowledge of real estate with broad industry experience, vast resources and a diverse network of clients. Our practices in Europe, the Middle East, India and Africa (EMEIA) operates under a single structure as part of a global framework.
We are pioneers in bringing a borderless approach to the emerging markets of Russia, India, the Middle East, Africa, and Europe.
Globally integrated practiceOur globally integrated practice enables us to better leverage our strengths and make swift moves in bringing together our teams to serve our clients, drawing on our industry experience across all our services in 150 countries.
Services that provide quick response to client needsEY’s EMEIA real estate group of 2,300 people has built close working relationships with our colleagues in EMEIA and across the world; allowing us to respond quickly
and well-coordinated international approach.
The EY advantageImplicit in EY’s strategy is the responsibility to provide thought leadership to the businesses and industries we serve. We are committed to being a knowledge leader in the real estate industry by being proactive and attentive to industry trends, while responding with creative ideas that help our clients deal with the issues they face.
EY Middle East, India and AfricaThe Middle East practice of EY is a full member of EY Global and has been operating in the region since 1923.
We believe real estate, operations,
be synchronized to maintain a competitive edge as well as the following:
• Quality of service are paramount
• Revenue enhancement programs are a necessity
•
• Cost management is fundamental
• People are the agents for change
EY’s Middle East Transaction Real Estate Advisory Services practice can help organizations improve the way it manages its investments in real estate assets — throughout the life cycle of the property portfolio.
Throughout, our goals remain the same:
• To minimize risk
• To control expenses
• To improve overall performance
• To accelerate the creation of bottom-line value for companies
EY is the largest and most integrated professional organization operating in the Middle
15 markets throughout the region.
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Our market knowledge and experience
Our practice has undertaken extensive work in countries such as:
Sea
Afghanistan
Algeria
Angola
Bahrain
Benin
Bermuda
MartiniqueCape Verde
Cote D’ivoire
Djibouti
Egypt
Eritrea
GabonDemocratic
Republic Of Congo
GhanaGuinea
IraqJordan
Kazakhstan
Kenya
Kuwait
Lebanon
Libya
Maldives
Malta
Mauritania
Mauritius
Morrocco
Mozambique
Nigeria
Oman
Pakistan
Palestinian National Authority
Qatar
Togo
Saudi Arabia
Senegal
South Africa
Sudan
Syria
Tanzania
Thailand
Tunisia
Turkey
Uganda
United Arab Emirates
Malaysia
EY possess unmatched knowledge and expertise in the Middle East real estate, hospitality and leisure markets.
We understand and offer a full scope of multidisciplinary services for every real estate industry segment such as:
• Commercial
• Hospitality, Leisure and Entertainment
• Residential
• Retail
• Industrial
Our spectrum of services to the industryEY’s MENA Real Estate, Hospitality and Construction Group offers:
• Integrated, cross-functional network over 40 experienced real estate, hospitality and project management Professionals
• Value-added multidisciplinary services and strategies to companies that own, develop or operate real estate and hospitality assets
Development Advisory Services
Transaction Advisory Services
Operator search and selection
Project Management Services
• Benchmarking
• Capital sourcing/placements/deployment
• Highest and best use analysis
• Market and feasibility studies
• Strategic business planning
• Acquisitions
• Due diligence
• Restructuring
• Valuations and appraisals
• Management contract review
• Management company selection and negotiations
• Operational enhancement
• Repositioning analysis
• Development management
• Pre contract services (Design phase)
• Contract services (Execution phase)
• Post contract services
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Our speciality advisory services
Development Advisory Services • Include site evaluations and strategic market research, which consist of an international benchmark of relocation incentives
and a general market overview of a selected group of real estate uses
• Conducts alternative industry cluster analysis, including potential industry cluster requirements and market positioning of the project
• Provides international/regional benchmarks of master planned cities and real estate development strategy meetings to co-develop the assumptions
• economic and demographic overview of the market, and an independent analysis of the real estate market which would include both existing and proposed supply
• Reviews the facilities program and comments on the number of units, size, unit mix and appropriate mix of facilities
• Evaluation of individual project component, in terms of demand and revenue generation potential, that provides details of estimated operating costs culminating in an EBITDA estimate
Highest and best use studies• Assistance in preparing a highest and best use study
and market driven uses for the available land
• High level market review pertaining to the market background, current and future supply, trends in demand and pricing levels
• Short list of potential real estate uses based upon a weighted analysis
• Co-develops the major assumptions forming the basis for estimated operating costs culminating
Strategic business planning services• Primary goal is to serve as the main advisor to individuals
and corporations
• Approach consists of understanding client goals and objectives, identifying market alternatives, evaluating and analyzing different scenarios, and assisting the client in developing an actionable business plan
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Transaction Advisory Services• Objective and responsive advice to support the strategic real
estate decisions of the client
• Help develop capital market strategies for acquiring and disposing of real estate assets, including fund concepts, sale and leaseback transactions, debt restructuring and other transactions
Capital raising• Assistance in raising necessary capital in the form of equity
and debt, whether through a private placement of equity or IPO
Financial and commercial due diligence•
target acquisitions in the real estate and hospitality sectors
Valuation and development appraisals • Help assess the fair value/market value of real estate assets
adopting various methods to include comparable approach,
residual land valuation, cost approach, etc.
Organizational change• Help accommodate organizational growth while aligning
Restructuring • Restructuring Advisory Services include guiding companies
through the liquidity management process focused on operational cost savings, developing and evaluating business plan and strategic alternatives, providing alternative debt/equity structures based upon asset base and/or anticipated cash
and divestiture planning
• proceedings, and advise on tax aspects of restructuring in and out of bankruptcy
Operator Search and Selection • Management contract reviews; company selection
and negotiations
• Services designed to select a management company/ operator on a timely basis to meet clients’ needs as well as to provide professional advice during the contract negotiation process
• Creates value by aligning the vision of the asset with return expectations, providing an equitable and analytical selection process and indispensable knowledge of the industry and players, benchmarking commercial contract terms and assisting the client in the implementation of the management-company relationship
Operational enhancement• Designed to assist the client in identifying and diagnosing
the issues impacting a single asset or a portfolio of properties
• and long-term enterprise value maximization. Our framework for co-developing a road map consists of a current state/future state analysis, gap analysis and closing-the-gap recommendations.
Repositioning analysis• Benchmarking property and helping the client identify key
opportunities for improvement: renovation, re-branding, cost containment, enhancing product/services quality, increasing product/service differentiation, improving the sales/marketing strategy in rooms, food and beverage, meeting/banquet and all other revenue generating departments
Project management
Development Management Services• Our development advisory specialists provide expert services
to all phases of the development process, from project advisory and budget planning to project closeout. We provide our clients
of design works, project development, cost estimation and development schedules.
• We also identify and manage project teams, develop procurement strategies, contract forms for design and onstruction work, organize tenders for selection of developers, concept designers/master planners and assist in contract negotiations.
Pre Contract Services (Design phase)• Our Project Management team oversees all types of building
projects from project preparation through to Contractor Award. We manage on behalf of the client, the day to day management of all the project team consultants including selection of architects and other design professionals, scheduling and budgeting, cost and quality control, administration
of tender documentation to engagement.
Contract Services (Execution phase)• Our Project Management team oversees all types of building
projects during the execution stages of a project. We act as the Clients’ representative during the Construction phase of the project overseeing the Construction Manager and/or Supervision Consultant/s scope. This includes project monitoring, client reporting, programme management, contracts management, claims/change management and budget/cost management.
Post Contract Services• Our post contract phase services are related to the project
completion and handing-over phase of the project. This involves overseeing the handing over of the project by the Contractor to the Client, ensuring all project records
ensuring all the ‘snags’ are completed by the Contractor.
• Our post contract services also include preparation of real estate organization strategies, identifying and managing facility
relocation to new premises.
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Our real estate ownership lifecycle
Project identification
Project evaluation
Project Management
Operator/developer Search
Ongoing investment Management operations
Enhancement Organizational change
Development
Highest and best use analysis
Real estate development
strategy
Management contract review
Performance monitoring
Diagnostic review/positioning analysis
Acquisition
Market and financial Feasibility study
Acquisition due Diligence
Request for proposals process
Capital markets advisory/
fundraising
Developers and owners goals and objectives
Annual buy/hold/sell analysis
EY has developed a methodology for all of our assignments — geared to ensure that our work is carried out
manner
product meets our clients’ expectations.
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Our methodology
• Close interaction with stakeholders at all stages of the project to ensure that we gain complete understanding of client requirements to be addressed in the development of all work products.
• Regular meetings between our advisors and concerned management at which we report progress to date, the work plan for the following period, the work accomplished, any problems being encountered in the execution of our work, as well as drafts of our work products. This ensures timely completion of the job at hand and provides the client with an opportunity to monitor on-going progress.
• We propose that the stakeholders nominate a project coordinator who will be able to coordinate between the stakeholders and EY on the various requirements, which may arise during the course of each project. He or she is also responsible for scheduling and committing the resources required.
• We obtain management’s approval of our work at each stage of the project prior to proceeding with the next stage. This ensures that our work effort is always directed toward the common objective of providing you with a quality product in a timely manner.
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• We believe this approach encourages management to “buy in” to our recommendations and assumptions of ownership in the work products.
Project management and oversight
• Structure initiatives• Project charters and plans• Monitor and control change• Report project progress
quality management• Project integration• Issue management
Knowledge management
• Knowledge management• Implementation lessons
learned
Project management
Quality assessment
• Monthly project management quality assessment
Project level policy and business issues
• Interface to sponsorship structures
• Risk management• Linkages with other
business initiatives
Project administration• Role and responsibility
definition• Resource management• Project standards
and methodologies
Plan
Control Execute
Ourmethodology
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The right team
Yousef WahbahPartner and Head | MENA Transaction Real Estate, Hospitality & Construction Services Dubai, UAE
Yousef Wahbah has 18 years of business advisory services experience. Yousef’s expertise in real estate and his dedication to what he does is what lead TREAS to be what it is today, making EY one of the largest integrated real estate advisory practice in MENA.
Noura YassinDirector | Real Estate, Hospitality and Construction Dubai, UAE
Noura Yassin is specialized in investment valuation, development appraisal, feasibility study, advisory services and highest and best use with more than 18 years of experience in the real estate market. Noura has acquired
of dollars from major companies in MENA.
Maya Josserande WhiteleyDirector | Real Estate, Hospitality and Construction Dubai, UAE
Maya Josserande Whiteley’s expertise lies in strategic advisory, operational analysis, branding and repositioning analysis, fund structuring and capital raising, as well as market research, feasibility studies, highest and best use analysis, and operator search & selection.
Hassan BazziDirector, Transaction Real Estate Project Management Services Jeddah, KSA
Hassan is a project management professional with more than 14 years of experience in the Middle East and GCC region focusing on project, design & development management. He specializes in development management at the pre design stages, design management at the pre contract stages & project management during the whole life cycle of the project.
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The right team (contd)
Saqib SaeedSenior Manager | Real Estate, Hospitality and Construction Abu Dhabi, UAE
Saqib Saeed has over 10 years of real estate valuation and transaction advisory services experience with proven expertise in valuations, strategic real estate advisory services
Lara QafeitiSenior Manager | Real Estate, Hospitality and Construction Amman, Jordan
Lara Qafeiti is specialized in the real estate and hospitality
advisory services. Lara’s expertise lies in preparing business plans, valuation, information memorandums and due diligence reviews.
Adnan GhalayiniDirector | Real Estate, Hospitality and Construction Riyadh, KSA
With over 11 years of transaction experience, working across the investment life cycle—from strategy formulation, acquisitions, asset management and divestitures in Real estate and related industries including hospitality, contracting and building material. Adnan has extensive experience in strategy formulation, business planning, valuation and highest and best use.
Nehme AyoubSenior Manager | Real Estate, Hospitality and Construction Doha, Qatar
Nehme Ayoub has 11 years of experience in the real
lies in the hospitality sector. Nehme has a broad range of engagements including market feasibility studies, asset and portfolio valuations, highest and best use analysis, management contract negotiations and operational reviews.
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Rohit DhawanManager | Real Estate, Hospitality and Construction Dubai, UAE
Rohit Dhawan has over 9 years of experience in real estate and hospitality between New York and Dubai. His expertise lies in strategic advisory, focusing on a range of services including business planning, brand development, feasibility studies, highest and best use analysis, operational analysis, and market research.
Maya El AssaadManager | MENA Real Estate, Hospitality and Construction Doha, Qatar
Maya has 11 years of experience in the real estate sector of which 8 years were with a prominent real estate developer in the region. She currently leads the business development for the real estate, hospitality and construction sector across MENA. Her responsibilities include sector publications, thought leadership publications as well as managing internal and external client related events.
EY | Assurance | Tax | Transactions | Advisory
About EYAbout EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company
information about our organization, please visit ey.com.
The MENA practice of EY has been operating in the region since 1923.
united across 20 offices and 15 countries, sharing the same values and an unwavering commitment to quality. As an organization, we continue to develop outstanding leaders who deliver exceptional services to our clients and who contribute to our communities. We are proud of our accomplishments over the years, reaffirming our position as the largest and most established professional services organization in the region.
© 2017 EYGM Limited. All Rights Reserved.
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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
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