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Meeting with FIABCIMeeting with FIABCIMalaysia ChapterMalaysia Chapter
International Real Estate Federation www.fiabci.org
Enrico Campagnoli,FIABCI World President
Monday, May 31, 2010 h. 9.00 AM
International Real Estate FederationInternational Real Estate Federation is a 61 years old NGO, United Nations accredited, is a 61 years old NGO, United Nations accredited,
present in 50 countries, really international present in 50 countries, really international and multidisciplinary, which involves the main players in the Real Estate and multidisciplinary, which involves the main players in the Real Estate
( brokers, appraisers, counselors, financiers, academic institutions, ( brokers, appraisers, counselors, financiers, academic institutions, lawyers, architects, developers, contractors, investors, etc),lawyers, architects, developers, contractors, investors, etc),
represented in all the five ECOSOC regions.represented in all the five ECOSOC regions.
FIABCI acts in a global perspective and has an holistic approach to REFIABCI acts in a global perspective and has an holistic approach to RE
FIABCI is FIABCI is historically , traditionally and “de facto”historically , traditionally and “de facto” the most the most representative world organization representative world organization
of RE private sector. of RE private sector.
“Let's speak about our family “
International Real Estate Federation
Let's see how we can try now to enlarge and make bigger our organization
In front of the global financial crisisIn front of the global financial crisiswhere where
- RE sector was a victim not the cause, - RE sector was a victim not the cause, - the lack of global regulations was the main - the lack of global regulations was the main
cause of the crisis,cause of the crisis, not only FIABCI continued and improved standard activities, such not only FIABCI continued and improved standard activities, such
as:as:Business opportunities facilitation,Business opportunities facilitation,
Networking, Exchange of information,Networking, Exchange of information,Stimulation of competition,Training, Formation, etc,Stimulation of competition,Training, Formation, etc, but also but also
acted at global United Nations levelacted at global United Nations level to reach the missing global regulationsto reach the missing global regulations
International Real Estate Federation
In United Nations In United Nations FIABCIFIABCI
assumed the social responsibility,assumed the social responsibility, as main representative of RE private sector,as main representative of RE private sector,
to try: to try:
- to minimize social and economic effects - to minimize social and economic effects of the crisis of the crisis
- to avoid that a new crisis will happen - to avoid that a new crisis will happen againagain
- to exit the crisis with a stronger RE - to exit the crisis with a stronger RE sector sector
International Real Estate Federation
United Nations United Nations was the only global organizationwas the only global organization
entitled to propose to member Statesentitled to propose to member States““principles and guidanceprinciples and guidance
for the development of Country's RE sector”for the development of Country's RE sector”
FIABCIFIABCImade any possible effortmade any possible effort
to support an appropriate United Nations bodyto support an appropriate United Nations body, , Economic Commission for Europe of United Nations (UNECE)Economic Commission for Europe of United Nations (UNECE)
to make this possibleto make this possibleA subsidiary body of UNECE, the Real Estate Market Advisory BodyA subsidiary body of UNECE, the Real Estate Market Advisory Body
(REM) has been chosen as the structure where to concentrate all efforts:(REM) has been chosen as the structure where to concentrate all efforts:
http://www.unece.org/hlm/wpla/rem/rem.htmhttp://www.unece.org/hlm/wpla/rem/rem.htm
Just before the financial crisis started....June 12, 2008 in Milan, Italy
International Real Estate Federation
UNECE/REM work programme presentation
On December 16, 2008,few months after the crisis started, FIABCI supported an event in New Yorkat UN headquarters : “Real Estate and Financial Crisis” with the Deputy Secretary General of United Nations
z
December 16, 2008 - New York UN headquarter -At the event organized with the support of FIABCI
United Nations decided to prepare regulations for RE markets
From December 16, 2008, started the UN proceeding to have
UNECE principles and guidance for the development
of Country's Real Estate Markets
In the photo: some of the panel of experts at New York UN headquarters,
Mrs. Migiro, Deputy General Secretary of UN, Mr. Brown, Wall Street Journal Editor,
Mr. Garonna, UNECE Deputy Executive Secretary
On June 3, 2009 in Rome the first draft has been presented to the consideration of the representativesof UNECE member States
After a long UN proceeding, with meeting in New York, Rome, Geneve UN headquarters, public consultations, member States representatives' modifications, final approval, official signature..
On March 16, 2010, fifteen months after
December 16, 2008 seminary at UN headquarters in NewYork ,
UNECE, a relevant body of United Nations,
officially issued the document supported by FIABCI:
“POLICY FRAMEWORK FOR SUSTAINABLE
REAL ESTATE MARKETS:
Principles and guidance for development
of a Country's real estate sector”
The document can be downloaded from UNECE web site:http://www.unece.org/htm/wpla/rem
The document can be alsodownloaded from:
http://www.isivi.it/fiabci2010/UNECE_Policy_Framework_for_Sustainable_REM.pdf
FIABCI support is fully recognizedin the document
Informal Chinese translation can be downloaded from:
http://www.isivi.it/fiabci2010/UNECE_REM_FFS_CN.pdf
InformalChinesetranslationof the UNECE/REMdocument.
International Real Estate Federation
FIABCI FIABCI
is the only private organization is the only private organization that supported these that supported these
United NationsUnited Nationsprinciples and guidance principles and guidance
to develop to develop Country's RE markets.Country's RE markets.
Can this fact help us to enlarge and Can this fact help us to enlarge and implement the role of our implement the role of our
organization?organization?
International Real Estate Federation
There are possible There are possible important challenges.important challenges.
FIABCIFIABCIin this moment could try:in this moment could try:
- to lead world wide a globalization of an efficient and- to lead world wide a globalization of an efficient and homogeneous RE Market, “homogeneous RE Market, “fully functioning and well fully functioning and well
regulated”regulated” according to UNECE “according to UNECE “principles and guidance for the principles and guidance for the
developmentdevelopment of a Country's RE sectorof a Country's RE sector””, for social and economic benefit of, for social and economic benefit of Countries and also in the interest of private RE sector, Countries and also in the interest of private RE sector, that FIABCI represents.that FIABCI represents.
- to promote the application and implementation of these- to promote the application and implementation of these principles in UNECE member States and to have them principles in UNECE member States and to have them
considered considered world wide in other ECOSOC regions, with the support ofworld wide in other ECOSOC regions, with the support of UN- HABITAT, to have a larger, more efficient RE market UN- HABITAT, to have a larger, more efficient RE market
worldwide.worldwide.
International Real Estate Federation
FIABCI
in this moment could try:
• to minimize the risk:to minimize the risk:• - in RE international transactions, with - in RE international transactions, with
arbitration, arbitration, • assuming as possible, the UNECE principles asassuming as possible, the UNECE principles as• common rules, common rules, • - in financial products backed by RE assets to- in financial products backed by RE assets to• contribute to restore confidence in the market.contribute to restore confidence in the market.
• to support the development of a green RE market, to support the development of a green RE market, also to facilitate the exit of the crisis also to facilitate the exit of the crisis
• last but not least, to support affordable and social last but not least, to support affordable and social housing “housing “as an integral part of the Real Estate as an integral part of the Real Estate market”, market”, with an appropriate land policy.with an appropriate land policy.
Now as FIABCI World President, I am here with you to have your comments and advises.
On June 14-15 next, FIABCI will try to propose, at the UN General Assembly NGO's hearing, to consider the Real Estate sector as a driving force for economies that could accelerate the exit from the crisis and the process itself to achieve the UN Millennium Development Goals.
On June 18 next, in Kiev, it will be a practical verification of the possibility, for each Chapter, to enlarge the role of FIABCI, continuing and improving of course standard activities, such as:
Business opportunities facilitation,Networking, Exchange of information,
Stimulation of competition,Training, Formation, etc
On March last, as World President Elect, I shared with you my FIABCI vision. On May, before Bali World Congress (May 24-28), I shared with you my immediate prospective actions during my term.
In Kiev, in Ukraine the pilot experiment on June 18 next
Looking to a standard format to propose to each Chapter
The newly elected Ukraine Governmental Authorities will consider United Nations "principles and guidance for the development of real estate sector", supported by FIABCI , with a view to reforming the Real Estate market in Ukraine.Translated by FIABCI Ukraine Chapter, the UN official Russian translation of this UN document will be launched during this event.The event has the participation of UNECE officers and of the main Ukraine real estate stakeholders and Ukraine Government .
It is hosted by FIABCI Ukraine Chapter.
The prospective outcome is a governmental working group to propose reform to Ukraine RE market
,
This test could be eventually repeated, for the promotion of the FIABCI image and for the implementation of FIABCI role,where FIABCI Chapters will desire.
It could be a big challenge.
FIABCI could assume a central role worldwide in the development of RE markets as a driving force of the economies and give a grounded support to an appropriate protection of property rights, adding more value to the brand and to the memberships.
FIABCI could assume a central role worldwide in minimizing the risk in the international RE transactions
These some points on which can be focused this big challenge.
FIABCI could try now, promoting these principles and an appropriate risk assessment (re rating), to contribute to restoration of market confidence in financial products backed by RE assets with a positive impact on the entire RE sector.
FIABCI could support the development of a green RE market also to facilitate the growth of National Domestic Products, to minimize unemployment and facilitate the exit from the financial crisis.
These some points on which can be focused this big challenge.
FIABCI could support the affordable and social housing as an integral part of the Real Estate Market, therefore with a reasonable return on the private investment, with an appropriate land policy and public private partnership.
FIABCI could have, in this moment, the possibility to try to facilitate the exit from the financial crisis and at the same time to assume as private RE sector the social responsibility to contribute to achieve the Millennium Development Goals (MDGs) of the United Nations, in the interest of private RE sector itself.
International Real Estate Federation
These ideas could stay for S, for These ideas could stay for S, for Strategy, in aStrategy, in a
S S strategystrategy
O O organizationorganization
S S structurestructure
FIABCI Plan of actionsFIABCI Plan of actions
that we have to build together !that we have to build together !
International Real Estate Federation
Long life Long life
to an unitedto an unitedFIABCI family!FIABCI family!
Dott. Ing. Enrico Campagnoli, - FIABCI World President - Past Chair of UNECE/WPLA/Real Estate Market Advisory Group (REM) - President of Italian Institution for Real Estate Valuation (IsIVI) - Senior adviser of IL PUNTO Real Estate Advisor srl Email: [email protected]