Speakers

Conference Introduction

After several years of speculation, it looks like China is at last in the process of implementing a real estate investment trust (REIT) regime. While property developers and investors, who have eagerly been awaiting the introduction of domestic REITs in the PRC, are hailing these recent pronouncements, many questions remain, including the timeframe for introduction and, more important, what the regulatory framework will look like. REIT regimes vary significantly among jurisdictions around the world.

Hence , REITs China 2012 on 21st Feb Shanghai will gather:

Why you can not miss the conference !

√ Determine the global trend and its challenges and opportunities
√ Find out the legal requirements and structure in China REITs
√ Learn the importance of accounting in REITs
√ Understand the key factors influencing the evolution of REITs
√ Obtain Financial information from the renowned key experts

Conference Background

Global: The global real estate securities market has grown significantly as both developed and developing countries move to create REIT or REIT-like corporate structures. Prior to 1990, however, only the U.S., the Netherlands, Australia and Luxembourg had adopted REIT-like structures. In 2007, according to Dimensional Fund Advisors, the global REIT market was dominated by the U.S. (55%), Australia, Great Britain and Japan. Therefore, non-U.S. REITS make up almost half of the global REIT market. The global REIT universe continues to expand; therefore, investors who limit their REIT positions to U.S.-only funds will also likely limit their opportunities.

Asia: Although the weighted average dividend yield for Asian REITscontracted further from 8.06% in the first half of 2009 to 6.86%in the first half of 2010, they generally still provide comparatively high dividends over their respective government bonds. However, after the series of REIT delistings and liquidationrumors, investorsmay demand stronger stock performance along with rising assetprices. The second half of the year should see the launching ofa REIT market in the Philippines after the local Stock Exchangeapproved the country’s REIT listing rules in June. A number ofmajor local real estate developers have already indicated their interest in launching REITs in Philippines. Over the next six months Asian REITs should recapitalise with ease and will continue toacquire new assets and conduct fund raising exercises. However,in light of rising concerns over the pace of the global economic recovery, Asian REITs are expected to perform steadily over theremainder of the year, in contrast to the rapid gains they enjoyedin the first half.

China: In December 2008 the Chinese Government formally announced its support for pilot schemes of Chinese REIT (C-REIT) products to be offered to the market. In 2009, a REIT Working Group led by the Central Bank was established to develop the C-REIT regime in China. At the time of writing, the Beijing, Tianjin and Shanghai local governments had prepared various C-REIT products, mainly inter-bank products, for approval by the State Council. These products should be launched soon after approval by the State Council, however it is uncertain when this will be.