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Q2 - Global Performance Report 2018-192
IntroductionReflecting the strategic direction we are taking, and the expectations placed on us, we continue to deliver on our ambitious vision set out by Governing Council: Through our credentials and our professional standards, we will create confidence in markets and be known for effecting positive change in the built and natural environments.
We believe demand for our profession will continue to grow as the forecast pace of global urbanisation builds to 2050, coupled with an increasing and shifting population, climate change and rising pressures on food, water and energy supplies.
Professionals must lead the way in addressing these trends, working to consistent technical standards and upholding the highest standards of ethics. A willing acceptance of and adherence to independent self-regulation and scrutiny distinguishes RICS and the profession around the world.
Looking ahead, and on the basis of progress made this year, our business plan for 2018-21 sets four strategic priorities to position RICS as a fit, globally relevant, and trusted professional body for the 21st century:
• Influential: RICS is an influential body onissues of global significance and brings aboutbeneficial change in the world.
• Trusted: the standards to which the professionwork are demanded and adopted in the majoreconomies of the world.
• In Demand: as a result of market respect anddemand for our profession’s standards andqualifications, highly talented individuals willchoose to qualify, commit to lifelongprofessionalism, and work to RICS standards.
• Sustainable: the organisation is efficient andfinancially stable, and the profession and RICSemployees are highly engaged, proud andincreasingly diverse.
Significant milestones in this quarter:• Thought Leadership: adoption of our market
surveys by leading organisations.
• RICS qualification: notable recognitions ofthe RICS qualification, coupled with adoptionof the Red Book for valuations and uptake ofour FM Professional Statement.
• International Standards: demand forinternational measurement standardscontinues, with significant adoptionachievements in China and the Middle East.
• RICS governance reforms: an overwhelminglypositive vote from our profession to proceedwith changes to RICS’ governance, which willhelp ensure the profession’s future in a rapidlychanging world.
This Q2 report is a summary of RICS’ worldwide performance against our objectives and strategic goals in the second quarter of the 2018/2019 financial year (November 2018 – January 2019). It is available to members of the profession, employees and other key stakeholders
We welcome all comments on this report.
Paul Marcuse Chairman, RICS Management Board
Sean Tompkins Chief Executive Officer, RICSe [email protected]
Context To achieve Governing Council’s vision, Management Board established strategic goals for the 2017-20 business plan period.
Strategic goals• Our standards adopted
The standards to which RICS professionalswork are demanded and adopted in the majoreconomies of the world.
• Profession in demand As a result of market demand for RICSstandards and credentials, highly talentedindividuals choose to qualify and work toour standards.
• Trusted by our stakeholders We remain trusted to set and enforce standardsfor the profession.
• Influential profession RICS brings about beneficial change in responseto the major challenges the world faces.
• Sustainable professional body The profession and RICS employees are highlyengaged, proud and increasingly diverse. Theorganisation is efficient and financially stable.
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Key achievements this quarterAn influential thought leaderWe are building RICS’ reputation for shaping thinking on the strategic issues relating to the built and natural environments, where RICS professionals can make a real difference.
The World Economic Forum recognised the work of Earl Forlales – winner of the RICS Cities for our Future competition – to create a low-cost bamboo housing solution (CUBO) in response to the crisis in affordable housing supply.
Our market surveys are increasingly valued by decision makers:
• The New Zealand Central Bank’s CreditConditions Survey cited the RICS GlobalCommercial Property Monitor in itsNovember report
• The Dutch Central Bank’s Autumn FinancialStability Report cited RICS data indicatingpositive market sentiment and strong demandfor high-grade commercial real estate
• The Hong Kong Monetary Authority (centralbank and market regulator) has asked to receiveour monthly Residential Market Monitor for usein their research
• Oxford Economics has begun to cite RICSsurvey findings in their briefings to a client baseof 1,500 international corporations, financialinstitutions, governments and universities
• Bloomberg’s Intelligence report on Hong KongHome Market Sentiment now cites the RICS-Spacious Hong Kong residential market survey
We stepped up our efforts to convene leading influencers:
• Our monthly World Built Environment ForumWebinar Series has attracted senior participantsfrom around the globe to interact with leadingexperts and practitioners in blockchain,property technology and workplace
• The inaugural RICS Leadership Forum forConstruction took place in Mumbai, focused onprocurement, transparency and standardisation
• Another inaugural RICS Leadership Forum– on Commercial Real Estate and FM – metin Bengaluru to discuss technology, life cyclethinking and data sharing
Trusted by clients in our key marketsAsia• Hong Kong Land Department announced
that RICS qualifications would be recognisedalongside qualifications awarded by the HongKong Institute of Surveyors (HKIS)
• We have agreed with HKIS to recognise eachother’s geomatics qualification pathways
Middle East• Qatar’s Ministry of Municipality and Environments
now recognises the RICS qualification
• The Qatar International Centre for Conciliationand Arbitration has also recognised the RICSqualification
• The Government of Bahrain has adoptedInternational Valuation Standards and theRICS Red Book
Europe and UK• Alstria, a leading Commercial Real Estate
Investment Trusts in Germany, now requiresproperty valuations to be done in accordancewith the Red Book
• Credito Agricola, a major Portuguese bank, nowasks for Red Book valuations and specifiesValuer Registration in its tender documents
• TINSA, a Spanish valuation firm that is rapidlygrowing in Latin America, has become an RICSRegulated Firm
• John Lewis, a UK retail chain with over80,000 employees, has adopted the RICSFM Professional Statement
• Gardiner and Theobald (UK) have committed toadopting the RICS Procurement of FacilityManagement professional statement
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followers on Instagram6,818
new candidate enrolments (27% female) at the end of Q2 2018-19
4,398International standards are increasingly adopted: • Glodon, the premier digital construction
platform service provider in China, has adopted International Property and Construction Measurement Standards (IPMS and ICMS)
• China National Aviation Fuel Group, the largest state-owned aviation fuel supplier in China, also adopted ICMS, acknowledging the standard’s relevance to the Belt & Road initiative
• Three Chinese consulting firms in Beijing and Shanghai have adopted ICMS
• The Abu Dhabi Government has incorporated IPMS into their Property Measurement Standard
subscribers on YouTube5,535
fans on Facebook 58,976
Q2 - Global Performance Report 2018-19
people in the global LinkedIn group and 94,802 followers
81,234
followers on Twitter 90,505
5
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RICS-qualified professionals worldwide
109,867
ahead of our year-to-date financial plan (at end December)
£0.3 million
Renewal of professional subscriptions is ahead of last year
20,937 candidates
and 5,420 assessors using our professional assessment resource (ARC)
of newly qualified professionals are based outside the UK & Ireland, notably China (10%), Europe (8%), East Asia (7%)
of newly enrolled candidates are based outside the UK & Ireland, notably China (9%), MENA (7%) and Europe (6%)40%
36% new professionals (24% female) awarded RICS designations at the end of Q2 2018-19
2,329
FEB2019/DML/23382/GLOBAL
Americas Asia Pacific EMEALatin America [email protected]
Australasia [email protected]
Greater China (Shanghai) [email protected]
South Asia [email protected]
Africa [email protected]
Ireland [email protected]
United Kingdom RICS HQ [email protected]
North America [email protected]
Greater China (Hong Kong) [email protected]
Japan [email protected]
Southeast Asia [email protected]
Europe [email protected]
Middle East [email protected]
rics.org
Confidence through professional standardsRICS promotes and enforces the highest professional qualifications and standards in the valuation, development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to markets and effecting positive change in the built and natural environments.
