Activities

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In 2008, FRESH Alumni will start with a new series of activities: FRESH Alumni meets... The aim of these activities is to give the members of FRESH Alumni the opportunity to acquaint themselves with the members, activities and viewpoints of other specialized real estate organizations in an informal setting.

The first of these meetings will be with the RICS, the Royal Institution of Chartered Surveyors. The RICS has 140,000 members who operate out of 146 countries, supported by an extensive network of regional offices and aims to set high ethical and professional standards for the industry. The RICS is just starting out in the Netherlands but recently passed the 200-membership mark. Applicants are meticulously selected based on an extensive selection process based on real estate expertise and integrity before they can join. Membership can is especially helpful for those involved in frequent international business dealings.

On the afternoon of April 17th, the members of FRESH Alumni and RICS will have the opportunity to meet at the RICS offices in Voorburg. The event will start with an introduction FRESH Alumni and the RICS organization, the goals and membership conditions, to be followed by a debate between the members of both organizations.

Topic
Topic of discussion will be ethics in real estate. Are ethics more of an issue in real estate in comparison to other industries? How can ethics be formulated and regulated effectively? Are ethics in real estate universal or are there differences per country or region? How does unethical behaviour damage the image of the industry as a whole, and how can individuals protect themselves against this?

The program will be as follows:

17:00 – 17:30 Reception
17:30 – 17:45 Welcome & introduction FA
17:45 – 18:15 Introduction RICS
18:15 – 18:45 Debate: Ethics in Real Estate
18:45 – 19:15 Closing & drinks

This year’s New Years debate will be organised jointly by Young ING Real Estate and FRESH Alumni. Four high profile speakers will give their view on the credit crunch and its effects on real estate values.

The debate will be held in a very prominent location: ING House in Amsterdam!

Introduction
The most influential event on the real estate market in 2007 was the ‘credit crunch’. The sub prime mortgage crisis in the US housing market has had and continues to have significant effects on other markets. The ensuing ‘credit crunch’ has made it very difficult for banks to obtain money for their (property) financing activities. As a result, it has become more difficult for investors and developers to borrow the high levels of financing that are necessary for their operations and acquisitions.

Since the start of the credit crunch, the number of sales has decreased significantly. In the more transparent and liquid UK market and in listed property securities, real estate values have already started to come down and the question on everyone’s minds is: “How much further will they fall?” In Continental European direct real estate markets, we have seen no evidence of declining property values, even though the listed market has already priced them in.

The focus of the debates is the effects of the credit crunch on property values in 2008. Are property values going to fall? If yes, what effect will this have on large acquisitions? Will financial institutions be able to finance them, and up to what price? Will developers still be able to build, finance and sell their properties?

Speakers
The upcoming debate aims to highlight the different views and the impact on strategy from three real estate perspectives: investment, development and finance.

Four high profile experts from these different backgrounds will give their view. The debate will be chaired by:
- Tim Bellman, Global Head of Research & Strategy, ING Real Estate Investment Management

The participants in the panel will be: 
-  Matthijs Storm: Vice President, ING Clarion Real Estate Securities London 
- Jasper Klapwijk: Board Member ING Real Estate Development, Strategy 
- Michiel Rang: Board Member ING Real Estate Finance, International

Each will shortly summarise his view on the credit crunch and its consequences for real estate valuations from their respective positions. This will be followed by a panel debate, which will be extended to the young real estate professionals in the audience.

The program will be as follows: 
- 16:00 – 16:30 Reception 
- 16:30 – 16:45 Welcome 
- 16:45 – 17:00 Introduction presentation by Tim Bellman 
- 17:00 – 17:45 Panel debate on the effects of the credit crunch in 2008 
- 17:45 – 18:15 Discussion with the audience 
- 18:15 – 20:00 Drinks

Location
The debate will be held at ING House, which is the global headquarters of ING Group. The Auditorium has been reserved for the New Year’s Debate, as it offers an exclusive look into this futuristic and innovative building!

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