Social REIT in Chinese Dr Darin Gunesekera
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Presentation on Social REIT in Chinese at Social Innovation Week Beijing 2014
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Social REIT in Chinese Dr Darin Gunesekera
- 1. Dr. DARIN GUNESEKERA Capital Markets for the Marginalized Inc.(CMM) AFFORDABLE HOUSING THROUGH CAPITAL MARKETS 如何通过资本市场 提供经济适用房
- 2. 我的人生：成为一名社会企业家 Becoming a Social Entrepreneur: My Journey
- 3. 换位思考 的重要性 The Importance of Empathy
- 8. (c) CMM 2014 8(c) CMM 2006 8
- 9. 贫民窟： 向上移动的移民 Slums: Upwardly Mobile Migrants 城市和村庄 之间的困惑 “Stuck” Between Villages and Cities
- 10. 住房危机 出现了 The Affordable Housing Crisis
- 11. 私营部门：住房贷款 Private Sector Housing Loans founded on risk 城市的高速发展 Rapid City Growth Rich get richer, poor get poorer 国际性组织：世界银行 World Bank Keeps people in slums through onsite upgrade 现有住房短缺 Shortage of Decent Housing 贫民窟的增长速度超过了经济 Slums Growing Faster than Economy
- 12. 家，不应成为奢侈品 Homes Should not be a Luxury Good
- 13. (c) CMM 2014 13(c) CMM 2006 13 Key -Land Cycle Process. First vacant or acquired land (Trust 1) 1 Occupied Estates: (Trust 2, 3 of Cycle 2) 2 3 Occupied Estates: (Trust 4..7 of Cycle 3) 4 5 6 7 Land Cycle 1 Land Cycle 2 Land Cycle 3 – projects exchanges new units for vacant possession of old units – New units must be more attractive to encourage the move Slums occupy 600 sq ft ground cover/ unit; planned units only 110 sqft
- 15. 社会 房屋 居民 Social Housing Resident 空置房屋 Vacant Possession 分享 Shares 权威 机构 Authority 提交 Land 分享 Shares 信托 机构 TRUST 解决方案：社会房地产投资信托基金(S-REIT) The Solution：Social Real Estate Investment Trust (S-REIT)
- 16. 请翻译这里请翻译这里请翻译这里 Start with a compact city area re-development project plan 请翻译这里请翻译这里请翻译这里 Existing Social Housing residents approve the plan 请翻译这里请翻译这里请翻译这里 This facilitates a Trust market deal between the landowner (Authority) and social housing residents.
- 17. S-REIT：一个资本市场 S-REITS: A Capital Marketplace 投资者 权威机构 个体 / 组织 Investors Authority, Individual, Institutional 中介机构 EXCHANGE 投资交易 Trade via Investment Banks 分享 Shares 正在进行的股票交易市场 On-going Stock Exchange Market
- 18. 投资者 权威机构 个体 / 组织 Investors Authority, Individual, Institutional 中介机构 EXCHANGE 现金交易 Cash via Investment Banks 分享 Shares SREIT是由投资者和土地/购房者构成 他们将股票变现为现金或土地/房屋 SREIT is financed by investors and land/ home buyers. Shares liquidate into cash or land/ homes 包括特定的房子/公寓的所有权的权利 Includes right to ownership of a specific house / flat
- 19. 人民证券交易所 The People’s Stock Exchange
- 20. 成果 The Result 675套 为贫民窟居民设计的高层公寓 675 apartments in first ever high rise by slum dwellers, designed by the residents 4000人 被重新安置 4000 people vacated and re-located
- 21. 金融利息：解决了利润的来源 Financial Returns：Unlocking the Profit in the Land 投资：600万美元 Investment: SLRs600M (USD6M) 社区外收益（利息）：1700万美元 Outside Community Sales (Financial Return): SLRs1700M (USD17M)
- 22. 社会影响：改善了人民生活 Social Impact：Changing the Lives of People
- 23. 两个亚洲高人口密度城市中心，做个选择 ！ Two actual pictures of Asian High Population Density City Center areas. There is a CHOICE!!
- 24. 这种现象 可能取决于社会企业家的能力 而不是开发者/承包商的能力 Which happens may depend on Social Entrepreneur’s Ability Not developer/contractor ability.
- 25. 总结 Summary 请翻译请翻译请翻译请翻译请翻译请翻译 请翻译请翻译请翻译请翻译请翻译请翻译 Social REIT is a technical breakthrough where the solution is expressed in standard capital market terms for a technical concept 请翻译请翻译请翻译请翻译请翻译请翻译 请翻译请翻译请翻译请翻译请翻译请翻译 The Trust objective is to re-plan the LAND to provide decent quality housing and area development for persons at low levels of income in growth areas. 请翻译请翻译请翻译请翻译请翻译请翻译 It is NOT based on State spending but provides PROFIT to the State & relieves it of welfare burdens. 请翻译请翻译请翻译请翻译请翻译请翻译 It is based on regulated markets; NO ROLE Required for Foreign Donors nor NGOs. 请翻译请翻译请翻译请翻译请翻译请翻译 It depends on a Empathic Social Entrepreneur Catalyst & Doer.
- 26. 在中国的实践 Applications in China 城中村 Urban Villages 人口迁移 Migration
- 27. 中国企业的机会 Opportunity for Chinese Firms 中国企业是发展中国家的主要项目来源 Chinese firms are a major project source for developing countries 许多专家希望出国工作 Many professionals wanting to work abroad 真正的机会在于房屋建设和创造改变 Opportunity to do meaningful housing projects and create real change!
Editor's Notes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Basis Empathy Inclusiveness Technical Insight Acts with All Stakeholders All Surrounding and supporting social structures Action is Social Speedy SE is what Yu Dan 于丹 calls a “Sage” Asian Concept Means : A Doer who takes even leaders where they want to go, despite protests Essential Role Model/ Theory does not work of itself Goal/ Ambition is not realized by itself Social Force needs Actor/ Director SE is the Doer person for the three above SE has Insight That instant electric current flash SE works THROUGH Empathy seeing from other person’s eyes
- Make right bottom Only 4%…., that is add word “Only” ADD CAGE “SH Highest rent increases in London, up to 200% p.a.” Rapid City Growth=Rich get Richer, Poor get Poorer Private Sector: Housing Loans Founded On Risk World Bank Keeps People in Slums through onsite Upgrade Decent Housing Shortage of Over 50%
- This is a Stock Exchange Problem We have removed Capital Equity Markets from LAND (where the longest gestation private projects are) There is a Malfunction in Planning We have accepted plans where housing is a luxury output and not where homes for all is THE requirement Lost art of Roads (V Expressways)
- Please add below diagram – The deal will provide shares equivalent to a home plus an investment share in the commercial property for social housing residents depending on their vacating current actual occupation/ rights. -- Done MB
- Please add below diagram – The deal will provide shares equivalent to a home plus an investment share in the commercial property for social housing residents depending on their vacating current actual occupation/ rights. -- Done MB
- Please remove Phase 1 (the overlay). -- Done MB
- Rationale: EXCHANGE Regulates Information Flow, Share issue/ introduction.
- 675 apartments in first time ever high rise occupation by slum/ shanty dwellers in “Streets in Sky” design voted for by them. 4000 people in same neighborhood vacated Land/ built space market given to regeneration.
- SOCIAL Self sustaining 675 homes paying rates Lives transformed from Shanty to Middle Class Regenerated Neighborhood All Children go to School Education Crime Rate Move to middle class—mainstream society
- SOCIAL Self sustaining 675 homes paying rates Lives transformed from Shanty to Middle Class Regenerated Neighborhood All Children go to School Education Crime Rate Move to middle class—mainstream society
- Many ask this. How would a “sage” answer? The example answers the Global Affordable Housing Problem found equally in London, Colombo and Manila. China has a migration created problem. Look at History. Today’s World Capitals rose to accommodate Migration positively. They want people. The reality is that the countryside has to change with industrial and GDP growth. Urban areas follow. ANSWER: There are a lot of Chinese Cities smaller than the Mega Cities. These Cities must COMPETE to get the best sustainable long term growth. This means long term population growth. Migrants usually are the creative and hard work leading edge people. It cannot be predicted which population will fill tomorrow’s lead needs. So competition must be for maximum release of migrant GDP and creativity impact. I’d say the Cities need Social Entrepreneurs with the best examples and analytic empathy to make it work.
- China Today Is RICH has many trained persons wanting to work in English/ travel Is a Major Project Source for Developing Countries YET does old fashioned routine projects China can have a Social Entrepreneur Corps For Africa, Asia & Pacific Do projects like our Housing Project Reach Actual People with Empathy Create REAL CHANGE that will be REMEMBERED US Corporates and Academics today have many senior persons who began work life in the US Peace Corps. A Chinese S. E. Corps could have a much greater impact as Today Empathy work and Social needs are better understood.