ULI - 13th ULI Europe Annual Conference: 2009 Finance and Development Outlook

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13th ULI Europe Annual Conference: 2009 Finance and Development Outlook

Date: February 4, 2009
Time: 9:00 AM
Venue: The Westin Hotel
Location: 3 Rue de Castiglione, Paris
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Programme
2009 Winter Council Day
Member Summit
Young Leaders Forum
New Member Networking Breakfast
Sponsorship Opportunities

Conference Chair
George Jautze
CEO, ING Real Estate
The Hague, The Netherlands

Mr. Jautze joined ING in 1991 as manager of the Dutch Development Division of MBO, a real estate finance and development company. He became a member of the ING Real Estate Management Board in 2001, responsible for Investment Management, and was appointed Chairman and CEO of ING Real Estate in 2005. Prior to joining ING, he worked for several large Dutch real estate development companies. Mr. Jautze holds a bachelor’s degree in Engineering from Hogere Technische School (Institute of Technology) in The Hague.

Keynote Speakers

Roger Bootle
MD, Capital Economics
London, UK

Bootle is a well known economist and an author. He is an Economic Adviser to Deloitte, a Specialist Adviser to the House of Commons Treasury Committee and an Honorary Fellow of the Institute of Actuaries. Formerly he was a Group Chief Economist of HSBC and on the panel of Independent Economic Advisers to the UK Chancellor.

Bootle is a columnist for The Daily Telegraph and an author of The Death of Inflation (1996), book widely recognised as prophetic.

CY Leung
Chairman-Asia Pacific
DTZ

Leung is Asia Pacific Chairman of DTZ, and a Trustee, Executive Committee member and Chairman of ULI Asia. Leung has been advising the Chinese governments on land and housing reforms and assisted the Shanghai Government in selling the first land use right by international tendering.

Leung was involved in the establishment of Hong Kong as a Special Administrative Region in China. He was Secretary General of the Basic Law Consultative Committee and Vice Chairman of the Preparatory Committee.

Leung is a member of the Executive Council of Hong Kong and is currently the Convenor of the non-official members. He was twice elected a member of the National Standing Committee of the Chinese People’s Political Consultative Conference.

Conference Moderator
Peter Bill
Editor, Estates Gazette
London, UK

Bill first spent 21 years in the construction industry as a surveyor. He became a journalist in 1983, joining Contract Journal as a reporter. In 1985 Bill joined Building magazine, where he rose to become editor in 1990.

He left Building in 1996 to work at Flemings, the merchant bank, to supervise the published output of analysts. Bill returned to journalism in 1997, joining Estates Gazette.

Bill has won eight awards for his writing, including the Periodical Publishers Association business writer of the year prize, the industry “Oscar.” He has edited several publications for the Smith Institute think tank, including three on housing supply and one on climate change.

Bill also writes a page on property-related issues each Friday for the Evening Standard business section.

Conference Partners

Media Partners

Conference Overview

For the last 12 years ULI has convened real estate industry leaders in Paris to explore trends, share opportunities and debate issues. This unique meeting has become the benchmark and barometer for the year ahead.

2009 will be a year of unprecedented challenges. As global economies grapple with recession, investors, developers, advisors and city leaders must radically adapt their strategies to survive. In times like these information is key, knowledge is invaluable. This year’s Paris conference is an opportunity to KNOW:

How—a capital markets revolution will rewrite the rules of real estate.
Which—markets, companies and sectors will fare best or suffer most.
Where—are the silver linings in the gathering clouds.
Why—experience of past downturns might handicap judgment in this one.
What—inflation, deflation and other scenarios for the future mean for property.
Who—has the insights, vision and strategy to survive and thrive.

An extraordinary group of ULI member leaders have helped assemble a 2009 programme that is timely, provocative and informative. It offers a wide range of choice and opportunities for interaction. It is designed to be flexible so that subjects, speakers and discussions will be up to the minute with current market developments.

Join your peers in Paris to understand the challenges through the eyes of the best and brightest. This conference will give you an outlook for 2009 and beyond as well as insights for managing your business in challenging times.

Wednesday 4 February

09.00-09.15
Conference Welcome and Introductions

09.15-10.00
Plenary Session—The New ‘New World Order’

Roger Bootle, MD, Capital Economics, London, UK

Economies around the world are teetering on the abyss. A sub-prime mortgage problem became a capital markets crisis that now threatens economic meltdown. Business models and strategies have been made irrelevant. Cities and the real estate industry need a new economic rule book. What scenarios for the future are emerging and how likely are they?

10.00-10.15
Info burst: After the Apocalypse—Emerging Trends in Real Estate

Emerging Trends in Real Estate Europe is widely considered to be the most highly regarded annual industry outlook for the real estate and land use industry. This is not the voice of the media or theorists but rather senior practitioners on the front line detailing their views on what lies tomorrow.

Concurrent Sessions—Understanding the Challenge:

(I) America—the Future is Not What It Once Was

Both boom and bust began there. Many global real estate players are based there. What lessons have been learned, how have their strategies changed and what does it mean for the rest of us?

(II) Quantum of Reason—Are Valuations Meaningless?

Valuations are at best an inexact science. In a world without transactions it can be argued that they are not worth the paper that they are written on. How will the ‘mark to model’ vs ‘mark to market’ approach affect asset values and company survival?

(III) The Housing Pendulum—Finding Equilibrium

Cities and the property industry both need a robust housing market to thrive. Subprime and speculation drove many markets to disastrous imbalance. What does it mean for the industry, how and when will reason return?

(IV) Investors Anonymous—Therapy for the Recovering Deal Junkie

Core or opportunity, institutional or sovereign, good deals are hard to find. Time to sharpen the pencil or dust off the golf clubs? When workouts and special servicers are where the action is, when the State is calling the shots and ‘governance’ is the new black, where’s the fun to be found?

11.15-11.45
Break

Concurrent Sessions:

(I) Changing the Climate—How to Bridge the Urban Investment Gap

A capital drought demands innovative strategies from cities to attract investment. It also appeals for a more collaborative, productive dialogue between investors, developers, and cities. ULI’s new Urban Investment Network (UIN) will provide the unique forum for this exchange. Discover what investors and cities are doing to weather the storm.

(II) Managing Your Business Through Challenging Times

Gadi Kaufmann, Author & CEO, RCLCO

Join the author of ‘Strategy for Real Estate Companies’ for insights on how to navigate through the downturn. Kaufmann will share secrets for managing and introducing change in real estate organisations. Equip your enterprise with the armour to face the future.

(III) Life After Debt—The Future of Real Estate Finance

“Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular” so wrote Larry Summers. But what happens when there are no flights anywhere? How will Real Estate Development occur when there is no debt finance to fund projects? Will it fall into a state of torpor or will new innovative funding mechanisms be found to allow it to thrive and prosper once more? The session will examine where debt can be found now and in the future…and the price we will have to pay to access it.

(IV) Workshop—Strategies for Surviving and Prospering in the Crisis: Re-structuring, Mergers and Acquisitions

12.45-14.15
Networking Lunch
and
CEO Lunch—“Leading Change” (invitation only)
Moderated by: Jeremy Newsum, Executive Trustee, Grosvenor Estate, London, UK

The very essence of leadership is vision. You cannot blow an uncertain trumpet. In times of crisis it is the industry leaders that will, through innovation, integrity and application cut the path to future growth and prosperity. This invitation only event will offer CEO’s the opportunity to share and discuss the means by which they will realise change

Info Burst: Recognising and Rewarding Excellence

The ULI Global Awards give lie to the idea that in times of adversity the pinnacle of achievement should be survival. By demonstrating excellence the projects that are recognised not only continue to move the industry forward but also create assets whose intrinsic value remains untainted by the credit crisis.

Plenary Keynote Session:
Dancing with the Dragon—What’s Really Happening in China?

CY Leung, Chairman, DTZ North Asia

Fuelled by rapid economic development and urbanization, the growth of China's real estate market has dazzled investors and fascinated the world. Will this growth continue in the global credit crisis? What steps is the Chinese government taking to ring-fence the Chinese real estate markets from the impact of global recession? Get the inside view from CY Leung, ULI's Asia Chairman, who helped China set up the real estate market in 1988.

15.15-16.15
Reinventing the Future—The Shape of Things to Come

Few strategies and business plans envisioned the current crisis. It is likely that we will emerge from this downturn a changed industry. How much so and in what ways remain to be seen. What lessons have been learned, how will they shape cities and the real estate business in the next cycle? This thought-provoking debate will explore the alternatives.

Break

Concurrent Sessions: Ending on a Bright Note!

(I) City of Light—Paris Springs Eternal

How does Paris consistently top investment and liveability charts? A diverse economy? Vision and leadership? Luck and good food? For 12 years ULI has returned to Paris where we spent our time talking about the rest of Europe! Join this debate on the essence of this great city’s success and how it sees the future.

(II) White Hot—Investment In - and From - the Middle East

Middle East capital has built cities from nothing and changed the global investment landscape. As a result the region has vast opportunities for individuals and companies. It also is a major source of equity for companies and projects around the world. Where is it going and will it last?

(III) How Sustainable is Sustainability?

Will sustainability lose out in the trade off for limited capital during the downturn? Can the real estate industry afford to turn its back during tough times? Can it afford not to?

16:45-18:30
The Netherlands DC Session—name TBC

17.30
Conference Close