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Working Agenda (subject to change)
| July 10, 2012 |
| 8:15 |
Registration & coffee
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| 8:55 |
PERE welcome & chairman’s opening remarks
Colm Gilmore, Director, Events, PEI |
| 9:00 |
Impact of Chinese economic growth uncertainty on individual strategies: Is China slowing down?
Representing different real estate sectors (logistics, retail, commercial, residential), four investment funds will comment on the new opportunities and their upcoming strategies in the current economic and capital markets.
- Logistics: How do funds adjust to challenging capital markets?
- Retail: Is there more opportunity in discretionary or necessity driven spend? What are the major drives of economic growth in China? Is retail over-supplied?
- Commercial: Are global commercial investors taken seriously in 2nd and 3rd tier cities?
- Residential: Is the risk adjusted return for residential investment in China still attractive?
Speakers:
Moderator: Johnny Adji, Research Consultant, Cambridge Associates Asia
Ralf Wessel, Managing Director Fund Management & Business Development, Global Logistic Properties
Tim Wang, Managing Director, Blackstone
Ryan Botjer, Senior Managing Director, Head of China, Tishman Speyer |
| 9:40 |
The funding gap: When will the liquidly squeeze stop?
- How can foreign investors best access China’s real estate market?
- Exploring the optimal partnership with developers and investors
- With Chinese lenders tightening their activities, how can private equity real estate funds capitalise?
- When will the situation change and how much changes will there be? Will the loosening target tier 1,2,3 cities differently?
- Will the government differentiate between residential and commercial property? What will the legacies be of this period of tightness? Will there be consolidation amongst developers and what will the industry look like thereafter?
- Who is filling the gap left by the pullback of commercial banks?
- Are private equity real estate investors also well placed to provide “bespoke credit” solutions?
Speakers:
Laurie Kan, Founder & General Partner, On Capital China
Hing Yin Lee, Real Estate Investment Department, Ping An Trust
Wei Wang, Managing Director & Head of China, Forum Partners
Keith Connolly, Managing Director, Real Estate, Gaming & Leisure, Sumitomo Mitsui Banking Corporation |
| 10:20 |
Enter the Dragon – Raising (human) capital The tide of global capital is starting to trickle through to the Middle Kingdom. Which way is the human capital flowing? How do foreign investors navigate the inevitable rapids on the way to prosperity? - Transparency / Access: how is China evolving in terms of market (information) transparency and ease of access to deals and partners?
- How does a foreign investor manage the talent shortage?
- What keeps surprising foreign real estate investors? How does this emerging China market continue to differ from the developed markets?
- What practical issues will occupy a global investor entering China?
Speakers:
Moderator: Heather Grayson, Principal Consultant, Capstone Recruitment
Tinchuck Ng, Executive Vice President – Investments, Easternflair Investment and Development
Charade Poon, Investment Director, Harvest Capital Partners
David Hand, Head of China Capital Markets, Jones Lang LaSalle
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| 11:00 |
Coffee break & networking
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| 11:30 |
Have you missed the boat - How can foreign investors best access China’s real estate market
- How would global investors identify and access reliable operating partners in the PRC?
- What are the factors that prevent foreign investors from entering China’s real estate market?
- How to manage risk when partnering with locals?
- What criteria (other than track records) should investors follow for selecting the right Chinese developer to partner with?
- Would the global investor have adequate resources to manage the partnership? Can the partnership with the local developer in China be managed offshore – from a distance?
- What form of partnership should one take: direct investment, JVs, club deal or through fund structuring?
Speakers:
Moderator: William Shaw, Principal, Director Asia, Composition Capital Partners
Guy Fulton, Director, Real Estate Investments, CPPIB Asia
Victor Lor, Director, Strategic Real Estate Asia, APG Asset Management Asia
Catherine Hong, Portfolio Manager, Morgan Stanley Alternative Investment Partners
Nicholas Wong, Principal, The Townsend Group |
| 12:20 |
Exploring the optimal partnership with developers and investors
- What can the global investor offer the Chinese developer, aside from cash?
- How can alignment of interest between the global investor and the local developer be created so that risks of project mismanagement are mitigated? How should fees be shared and structured?
- Do local developers have the requisite fund management skills to manage LP relationships and operate funds?
- What would the cost of capital be for the developer and would this be competitive compared to other sources of capital in the public markets?
- Case studies of global investors partnering with Chinese developers - What are the main obstacles and challenges?
Speakers:
Moderator: Jonathan Brasse, Editor, PERENews.com
Rachel Tan, CEO, Tan-Eu Capital
Terence Loh, Executive Director, CDH Investments
Bryan Chan, Project Director, Shui On Development |
| 13:00 |
Networking lunch
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| 14:10 |
Capturing growth in Chinese retail real estate development
- Where are the biggest opportunities in the market? And, where are the risks?
- Is retail over-supplied? How will formats change due to the growth of e-commerce or changing population dynamics?
Speakers:
Moderator: Robert Ciemniak, CEO & Director, Real Estate Foresight
Beng Tiong Ng , CEO, ARA Asset Management
Humbert Pang, Managing Principal, Head of China, Gaw Capital
David Dingmin Chang, Managing Partner, Long Hills Capital
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| 14:50 |
Playing the residential market in light of sensitivities to government policies
- Evaluating the potentials of investing in the residential market
- Is the future government policy in favour of residential market investment?
- Holiday home/second home concept: How does one decide where to invest? How does environmental and social responsibility fit into real estate development in China?
- Can opportunistic returns be made in the residential market in China?
Speakers:
Moderator: Barry Lau, Managing Partner, Gen2 Partners
Richard Yue, CEO & CIO, Arch Capital Management
Howard Zhang, Senior Investment Director, Infrared NF Investment Advisers
Grant Horsefield, Founder, naked Retreats |
| 15:30 |
Coffee & networking break
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| 16:00 |
Investment alternatives: 2nd, 3rd tier cities, or Macau
- Which cities offer the best opportunities for private real estate investors?
- What are the risk appetites for investors in 2nd /3rd tier cities?
- What are the potential opportunities in these cities?
- How does environmental and social responsibility fit into real estate development in China?
- Retail vs. residential vs. commercial: Which sector will offer better return?
Speakers:
Moderator: Jr. Thomas R. Delatour, CEO, Century Bridge Capital
Thomas Liu, Managing Director & Head of China, Principal Finance Real Estate, Standard Chartered Bank
Philip Pang, Partner, Investment, Telok Real Estate Partners
Lan Ma, Vice President, YiDA Group |
| 16:40 |
What fund structures are best suited for China?
- RMB funds as the way forward: What are the current regulatory obstacles? Sharing insights into making investments and working with local entrepreneurs
- Direct investment, JVs or co-investment: evaluating the pros and cons
- Making an optimal fund structure: what are the alternatives?
- How will investment funds in China be shaped?
- Are there potential for opportunity funds?
Speakers:
Moderator: Alan Dalgleish, Director, Research and Professional Standards, ANREV
Danny Krefman, Managing Director, M3 Capital Partners (HK)
Zhang Li, Managing Director, Banyan Tree Capital
John Lien, CEO- Greater China, DLJ Real Estate Capital Partners |
| 17:20 |
Close of conference
Following the conference there is a networking cocktail for speakers, sponsors and delegates |
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