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rics.org/valuationconference
CONFERENCE
RICS Global Valuation Integrating vision and value – a new era for valuation
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
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
[GLOBAL SESSION 2 - LIVE]
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
10:40 Virtual networking and exhibition break
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
11:30 Virtual networking and exhibition break
11:40
[GLOBAL SESSION 3 - LIVE]
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
12:20 Virtual networking and exhibition break
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
08:30 Registration and virtual networking
09:00
LIVE
Welcome remarks from AMR Conference Chair
Peter M. Smith FRICS, Chair - RICS Americas World Regional Board
09:10 Virtual networking and exhibition break
09:15 [GLOBAL SESSION 1 – PRE-RECORDED]
Opening keynote address: New values and visions for the profession
09:55 Virtual networking and exhibition break
10:05 [GLOBAL SESSION 2 – PRE-RECORDED]
2021 Global economic outlook – lockdown to rebound
10:45 Virtual networking and exhibition break
10:55
[REGIONAL SESSION 1 – LIVE]
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
11:35 Virtual networking and exhibition break
11:45 [GLOBAL SESSION 3 – PRE-RECORDED]
Valuing change – uncertain times and certain impacts
12:25 Virtual networking and exhibition break
12:45
[REGIONAL SESSION 2 – LIVE]
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)
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 4 - LIVE]
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
09:50 Virtual networking and exhibition break
10:00
[REGIONAL SESSION 3 – LIVE]
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
10:40 Virtual networking and exhibition break
10:50
[GLOBAL SESSION 5 - LIVE]
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
11:30 Virtual networking and exhibition break
11:40
[REGIONAL SESSION 4 – LIVE]
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
12:20 Virtual networking and exhibition break
12:40
[GLOBAL SESSION 6 - LIVE]
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
13:20 Virtual networking and exhibition break
13:30
[REGIONAL SESSION 5 – LIVE]
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
08:30 Registration and virtual networking
09:00
LIVE
Welcome remarks from AMR Conference Chair
Peter M. Smith FRICS, Chair - RICS Americas World Regional Board
09:10 Virtual networking and exhibition break
09:15 [GLOBAL SESSION 4 – PRE-RECORDED]
The value of virtual – the time for technology?
09:55 Virtual networking and exhibition break
10:05
[REGIONAL SESSION 3 – LIVE]
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
10:45 Virtual networking and exhibition break
10:55 [GLOBAL SESSION 5 – PRE-RECORDED]
RICS Global valuation standards update
11:35 Virtual networking and exhibition break
11:45
[REGIONAL SESSION 4 – LIVE]
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
12:25 Virtual networking and exhibition break
12:45 [GLOBAL SESSION 6 – PRE-RECORDED]
Valuing ESG – modelling environmental, social and governance factors within value
13:25 Virtual networking and exhibition break
13:35
[REGIONAL SESSION 5 – LIVE]
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]
Opening keynote address: New values and visions for the profession
10:00 12:30 15:30 Virtual networking and exhibition break
10:10 12:40 15:40 [GLOBAL SESSION 2 – PRE-RECORDED]
2021 Global economic outlook – lockdown to rebound
10:50 13:20 16:20 Virtual networking and exhibition break
11:20 13:50 16:50
[REGIONAL SESSION 1 – LIVE]
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
12:00 14:30 17:30 Virtual networking and exhibition break
12:10 14:40 17:40 [GLOBAL SESSION 3 – PRE-RECORDED]
Valuing change – uncertain times and certain impacts
12:50 15:20 18:20 Virtual networking and exhibition break
13:00 15:30 18:30
[REGIONAL SESSION 2 – LIVE]
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
09:10 11:40 14:40 Virtual networking and exhibition break
09:20 11:50 14:50 [GLOBAL SESSION 4 – PRE-RECORDED]
The value of virtual – the time for technology?
10:00 12:30 15:30 Virtual networking and exhibition break
10:10 12:40 15:40
[REGIONAL SESSION 3 – LIVE]
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
10:50 13:20 16:20 Virtual networking and exhibition break
11:20 13:50 16:50 [GLOBAL SESSION 5 – PRE-RECORDED]
RICS Global valuation standards update
12:00 14:30 17:30 Virtual networking and exhibition break
12:10 14:40 17:40
[REGIONAL SESSION 4 – LIVE]
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
12:50 15:20 18:20 Virtual networking and exhibition break
13:00 15:30 18:30 [GLOBAL SESSION 6 – PRE-RECORDED]
Valuing ESG – modelling environmental, social and governance factors within value
13:40 16:10 19:10 Virtual networking and exhibition break
13:50 16:20 19:20
[REGIONAL SESSION 5 – LIVE]
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
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