This document provides an introduction and overview of fund management and REITs (Real Estate Investment Trusts) in Singapore. It discusses the history and growth of REITs in Singapore, why Singapore REITs perform well, the types of real estate funds, sources of funds, and key players in the Singapore REIT market. It also summarizes the speaker's background and experience in the real estate industry and provides an agenda for the topics to be covered.
REIT simply implies trading dematerialized real estate. REIT exists in most countries of the world, its a great way of optimizing real estate investment and maximize wealth. REIT was legalized in India in 2013. SEBI is its regulator and the coming times will tell the tale of REIT in India.
Study of REITS (Real Estate Investment Trusts) and its prospect in India: Studied REITS in US, UK, Singapore and Hong Kong; its evolution in India and its pros and cons. Concluded that India is a conducive environment for REITS.
REIT simply implies trading dematerialized real estate. REIT exists in most countries of the world, its a great way of optimizing real estate investment and maximize wealth. REIT was legalized in India in 2013. SEBI is its regulator and the coming times will tell the tale of REIT in India.
Study of REITS (Real Estate Investment Trusts) and its prospect in India: Studied REITS in US, UK, Singapore and Hong Kong; its evolution in India and its pros and cons. Concluded that India is a conducive environment for REITS.
With the new investment vehicle, Real Estate Investment Trusts (REITs) coming into effect, what will be the impact on real estate sector? Does the real estate sector striving for cash influx will able to boost up the cash strapped industry a new route to tap capital with the approval of setting up of Real Estate Investment Trusts(REITs) by SEBI, market regulator.
REIT is an investment pool, which finds alternative means of financing real estate through an initial public offering (IPO), which is then used to buy, develop, manage and sell assets in real estate. This pool of real estate generates income through renting, leasing and selling of property and distributes it directly to the REIT holder on a regular basis.
A major benefit of REITs is that they do not have to pay tax on the income received by them, as 90% of the income is distributed to the shareholders. Smaller real estate investors are offered certain important qualities through the modem REITs, which previously were never accessible and available to them before.
REIT 101: Presentation by Milos Milosevic at George Washington University, RE...MMCapOne
A detailed, up-to-date presentation on the fundamentals of REITs -- types of REITs, structures, and 2014 performance. Presented by Milos Milosevic of Capital One at the Center for Real Estate and Urban Analysis at George Washington University in Washington, D.C. The event was hosted by the GW Real Estate and Finance Alliance.
The steady growth in the Asian property market and the success of REITs in the US have been the major drivers for the development of REITs in Asia over the last ten years. There are now over 130 REITs across Japan, Singapore, Hong Kong, Malaysia, Taiwan, Thailand and South Korea. Many other Asian countries are in the process of implementing REIT structures. Given the increased significance of Asian REITs, this paper provides an overall description of the evolution of REITs globally, the development of REITs in Asia, as well as the significance of Asian REITs within a global context.
Real estate investment trusts (REITs) - Overviewhardiklad93
its all about the REITs an overview. Also includes detail of REITs in global market as well as in Indian context.
Also includes advantage & disadvantage of REITs.
An article in the Wall Street Journal (http://online.wsj.com/news/articles/SB10001424052702303819704579320581924300124) focused on whether REIT stock prices typically decline when interest rates increase. They usually don't, because the pace of economic growth is generally more important--and interest rates generally increase as a result of improving economic conditions. When demand conditions (employment, income, consumer spending, etc.) are strengthening, commercial real estate usually becomes more valuable because prospects improve for future growth in rents and occupancy levels.
I have done many other versions of this analysis, updated by several years.
Questions? Contact me at bcase@nareit.com.
Will REITS be a game-changer for the Indian real-estate industry as it is exp...Aurum Equity Partners LLP
REITS have been the key source of capital for real estate in most developed markets, and increasingly so in the last decade. In India, raising capital has been challenging for real estate companies. SEBI has recently promulgated the REIT Regulations and some changes in tax legislation and some more (hopefully in the ensuing fiscal budget), have been carried out.
However, for an industry to change to a new regime, also requires the industry participants to learn the rules of the new game.
What can the industry learn from other sectors? Join the Aurum CXO Dialogues webinar where industry veterans from Aurum Equity, Black Olive Ventures and Dua Associates share their insights and perspectives on how the industry can leverage the opportunities created by REITS.
Need of REIT and its prospective implication in india- phoenix mall case studyAjinkya jagtap
A Real Estate Investment Trust is a company which modelled after mutual fund that owns or finances income-producing real estate. It provides investors regular income streams, long-term capital appreciation and diversification. REITs typically distribute all of their taxable income as dividends to shareholders. On those dividends shareholders pay the income taxes. REITs are strong income vehicles because REITs must pay out at least 90 percent of their taxable income in the form of dividends to shareholders .Office buildings, hotels, shopping malls, apartments, resorts, warehouses, self-storage facilities and mortgages or loans are the income producing real estate assets of REITS.
India has also tried to establish REIT. Mainly due to global slowdown and resultant impact on the property markets in India the earlier attempts to introduce REITs in India did not succeed. The other aspect is mortgage backed securities which is not permitted to invest, resulted real estate market opportunities shrinkage. However, SEBI announced the draft consultation paper on Real Estate Investment Trust (REIT) Regulations on October 10, 2013. Earlier in 2008, SEBI had issued certain draft regulations for introducing REITs. I-REITs (REITs in India) will invest in completed rent generating properties in India (to comprise minimum 90% of net asset value) and mortgage backed securities, would issue securities, which would be listed on stock exchanges and. In earlier phase I-REITs are planned to be available only to high net worth individuals and institutions to develop the market but now there are some relaxations introduced.
Real Estate Investment Trust (#REIT) provides an unique opportunity to #investors to invest indirectly in income producing #RealEstate. This investment vehicle has the potential to open up #CapitalMarkets to raise sizeable funds by the #Developers & #RealEstateIndustry. Informative presentation.
A great presentation by Rennie S. from Singapore as he delivered his keynote during CVM Forum #1 in ALoft Hotel, KL Sentral, Malaysia.
For related event log, visit: http://cryptovalley.my/cvm-forum-1-the-blockchain-ecosystem/
Need of REIT and its prospective implication in india- phoenix mall case studyAjinkya jagtap
A Real Estate Investment Trust is a company which modelled after mutual fund that owns or finances income-producing real estate. It provides investors regular income streams, long-term capital appreciation and diversification. REITs typically distribute all of their taxable income as dividends to shareholders. On those dividends shareholders pay the income taxes. REITs are strong income vehicles because REITs must pay out at least 90 percent of their taxable income in the form of dividends to shareholders .Office buildings, hotels, shopping malls, apartments, resorts, warehouses, self-storage facilities and mortgages or loans are the income producing real estate assets of REITS.
India has also tried to establish REIT. Mainly due to global slowdown and resultant impact on the property markets in India the earlier attempts to introduce REITs in India did not succeed. The other aspect is mortgage backed securities which is not permitted to invest, resulted real estate market opportunities shrinkage. However, SEBI announced the draft consultation paper on Real Estate Investment Trust (REIT) Regulations on October 10, 2013. Earlier in 2008, SEBI had issued certain draft regulations for introducing REITs. I-REITs (REITs in India) will invest in completed rent generating properties in India (to comprise minimum 90% of net asset value) and mortgage backed securities, would issue securities, which would be listed on stock exchanges and. In earlier phase I-REITs are planned to be available only to high net worth individuals and institutions to develop the market but now there are some relaxations introduced.
With the new investment vehicle, Real Estate Investment Trusts (REITs) coming into effect, what will be the impact on real estate sector? Does the real estate sector striving for cash influx will able to boost up the cash strapped industry a new route to tap capital with the approval of setting up of Real Estate Investment Trusts(REITs) by SEBI, market regulator.
REIT is an investment pool, which finds alternative means of financing real estate through an initial public offering (IPO), which is then used to buy, develop, manage and sell assets in real estate. This pool of real estate generates income through renting, leasing and selling of property and distributes it directly to the REIT holder on a regular basis.
A major benefit of REITs is that they do not have to pay tax on the income received by them, as 90% of the income is distributed to the shareholders. Smaller real estate investors are offered certain important qualities through the modem REITs, which previously were never accessible and available to them before.
REIT 101: Presentation by Milos Milosevic at George Washington University, RE...MMCapOne
A detailed, up-to-date presentation on the fundamentals of REITs -- types of REITs, structures, and 2014 performance. Presented by Milos Milosevic of Capital One at the Center for Real Estate and Urban Analysis at George Washington University in Washington, D.C. The event was hosted by the GW Real Estate and Finance Alliance.
The steady growth in the Asian property market and the success of REITs in the US have been the major drivers for the development of REITs in Asia over the last ten years. There are now over 130 REITs across Japan, Singapore, Hong Kong, Malaysia, Taiwan, Thailand and South Korea. Many other Asian countries are in the process of implementing REIT structures. Given the increased significance of Asian REITs, this paper provides an overall description of the evolution of REITs globally, the development of REITs in Asia, as well as the significance of Asian REITs within a global context.
Real estate investment trusts (REITs) - Overviewhardiklad93
its all about the REITs an overview. Also includes detail of REITs in global market as well as in Indian context.
Also includes advantage & disadvantage of REITs.
An article in the Wall Street Journal (http://online.wsj.com/news/articles/SB10001424052702303819704579320581924300124) focused on whether REIT stock prices typically decline when interest rates increase. They usually don't, because the pace of economic growth is generally more important--and interest rates generally increase as a result of improving economic conditions. When demand conditions (employment, income, consumer spending, etc.) are strengthening, commercial real estate usually becomes more valuable because prospects improve for future growth in rents and occupancy levels.
I have done many other versions of this analysis, updated by several years.
Questions? Contact me at bcase@nareit.com.
Will REITS be a game-changer for the Indian real-estate industry as it is exp...Aurum Equity Partners LLP
REITS have been the key source of capital for real estate in most developed markets, and increasingly so in the last decade. In India, raising capital has been challenging for real estate companies. SEBI has recently promulgated the REIT Regulations and some changes in tax legislation and some more (hopefully in the ensuing fiscal budget), have been carried out.
However, for an industry to change to a new regime, also requires the industry participants to learn the rules of the new game.
What can the industry learn from other sectors? Join the Aurum CXO Dialogues webinar where industry veterans from Aurum Equity, Black Olive Ventures and Dua Associates share their insights and perspectives on how the industry can leverage the opportunities created by REITS.
Need of REIT and its prospective implication in india- phoenix mall case studyAjinkya jagtap
A Real Estate Investment Trust is a company which modelled after mutual fund that owns or finances income-producing real estate. It provides investors regular income streams, long-term capital appreciation and diversification. REITs typically distribute all of their taxable income as dividends to shareholders. On those dividends shareholders pay the income taxes. REITs are strong income vehicles because REITs must pay out at least 90 percent of their taxable income in the form of dividends to shareholders .Office buildings, hotels, shopping malls, apartments, resorts, warehouses, self-storage facilities and mortgages or loans are the income producing real estate assets of REITS.
India has also tried to establish REIT. Mainly due to global slowdown and resultant impact on the property markets in India the earlier attempts to introduce REITs in India did not succeed. The other aspect is mortgage backed securities which is not permitted to invest, resulted real estate market opportunities shrinkage. However, SEBI announced the draft consultation paper on Real Estate Investment Trust (REIT) Regulations on October 10, 2013. Earlier in 2008, SEBI had issued certain draft regulations for introducing REITs. I-REITs (REITs in India) will invest in completed rent generating properties in India (to comprise minimum 90% of net asset value) and mortgage backed securities, would issue securities, which would be listed on stock exchanges and. In earlier phase I-REITs are planned to be available only to high net worth individuals and institutions to develop the market but now there are some relaxations introduced.
Real Estate Investment Trust (#REIT) provides an unique opportunity to #investors to invest indirectly in income producing #RealEstate. This investment vehicle has the potential to open up #CapitalMarkets to raise sizeable funds by the #Developers & #RealEstateIndustry. Informative presentation.
A great presentation by Rennie S. from Singapore as he delivered his keynote during CVM Forum #1 in ALoft Hotel, KL Sentral, Malaysia.
For related event log, visit: http://cryptovalley.my/cvm-forum-1-the-blockchain-ecosystem/
Need of REIT and its prospective implication in india- phoenix mall case studyAjinkya jagtap
A Real Estate Investment Trust is a company which modelled after mutual fund that owns or finances income-producing real estate. It provides investors regular income streams, long-term capital appreciation and diversification. REITs typically distribute all of their taxable income as dividends to shareholders. On those dividends shareholders pay the income taxes. REITs are strong income vehicles because REITs must pay out at least 90 percent of their taxable income in the form of dividends to shareholders .Office buildings, hotels, shopping malls, apartments, resorts, warehouses, self-storage facilities and mortgages or loans are the income producing real estate assets of REITS.
India has also tried to establish REIT. Mainly due to global slowdown and resultant impact on the property markets in India the earlier attempts to introduce REITs in India did not succeed. The other aspect is mortgage backed securities which is not permitted to invest, resulted real estate market opportunities shrinkage. However, SEBI announced the draft consultation paper on Real Estate Investment Trust (REIT) Regulations on October 10, 2013. Earlier in 2008, SEBI had issued certain draft regulations for introducing REITs. I-REITs (REITs in India) will invest in completed rent generating properties in India (to comprise minimum 90% of net asset value) and mortgage backed securities, would issue securities, which would be listed on stock exchanges and. In earlier phase I-REITs are planned to be available only to high net worth individuals and institutions to develop the market but now there are some relaxations introduced.
Description about Indian equity market andmance a survey representing customer's thinking about equity. overview of Reliance Security in Equity Market and its oerfor
Australian small cap stocks can be a popular investment due to their higher growth potential over large cap stocks. If you’d like to gain exposure to small cap stocks, this webinar can teach you how to identify high-quality businesses that can last the distance.
Identify small cap stocks that will last the distancenetwealthInvest
Australian small cap stocks can be a popular investment due to their higher growth potential over large cap stocks. If you’d like to gain exposure to small cap stocks, this webinar by Aberdeen can teach you how to identify high-quality businesses that can last the distance.
REITS in Kingdom of Saudi Arabia - 2017 Naveed Iqbal
REITs are a financial tool that allow pooling of investors funds for participation in real estate ownership.
REITs are in line with the Kingdom’s Vision 2030 objectives which targets to increase non-oil sector’s participation in the Country’s development.
L&T Infrastructure Fund is the best mutual fund scheme in Thematic Infrastructure Fund. The Prime aim of this scheme is to provide maximum growth and high returns for it's investors. The L&T Infrastructure NAV is also quite worthy and affordable. So View the presentation and get to know all about the L&T Infrastructure Fund Growth.
Real estate fund manager market validation discussion document finalCBRE
Market research / validation effort to examine operational and infrastructure challenges facing real estate fund managers - This was initial discussion document. Findings are in a separate report on slide share
Similar to Introductions to reits 22 july 2015 (20)
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Dynamics 365 Bid Management for Construction ProjectsDynamic Netsoft
This PDF provides a straightforward guide to using Dynamics 365 for efficient bid management in construction projects. Learn how to streamline processes, improve accuracy, and enhance productivity with practical tips and step-by-step instructions.
https://dnetsoft.com/dynamics-365-bid-management-software
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
3. Speaker Background
• More than 18 years in the real estate industry;
.
Corporate Visions Pte Ltd
Director - Investment Sales & Agency
B.Sc. (Estate Management) (Hons)
Work Experience : -
AIMS AMP Fund manager (formerly known as “MaCartherCook REIT”)
Ascendas : Real Estate Fund Business
Cambridge Industrial Trust : Investment
Capitaland/PREMAS : Head of Agency
Wing Tai Asia : Maketing
RCN Trainer/Module developer since 2010
Adjunct NanYang Polytechnic lecturer
Handle more than $300mn investment sales
Speciliases in Corporate real estate lease transactions, Sales & leaseback
and investment sales
Email : lester.kw@gmail.com
3
4. Agenda – Part 1
A brief history of REIT
Why Singapore REITs do well ?
Singapore Real Estate landscape
Type of real estate Funds
Source of Funds
1
2
3
4
5
5.
6. Singapore REIT Market Overview
July 2002 Sept 2002 Aug 2003 May 2004 Dec 2004 July 2005 Sept 2005 Mar/Apr 2006 July 2006
2000
MAS REITs
Guidelines
introduced
Feb 2004
Tax exemption for
individuals on
dividend from
REITs
Feb 2005
- Stamp duty waived for 5 years for
transfer of Singapore
- Foreign companies investing in
REITs to enjoy reduced withholding
tax rate
Oct 2005
Revised MAS Guidelines,
Changes in Regulation
- Partial ownership
-Gearing increased to 60%
from previous 35%
Oct 2002
Property funds
allowed for
investing into
REITS under the
CPFIS-OA
2001
Removal of Capital Tax
Gains for unit holders
who sell within 3 years
after acquisition
Currently 36 listed REIT and Business Trust (as at 2015)
7.
8. Real estate fund management
Trend of“Financialisation”Of Real Estate Market
Going forwardPreviously
9. How a REIT Work ?
AssetsAssets
Assets
Fund
Development/
Property
Management
Fees
Fund
Management/
Trustee Fees
Fund Returns
INVESTORS
10. Characteristics of a REIT
Bonds Equities
REITs
•Fixed Yield
•Downside Protection
•No Growth
•Variable Yields
•Downside Risk
•Potential Growth
•Higher Yield
•Low Volatility in Unit Price
•Low but Stable Growth
REITs offer many of the positive aspects of both bonds and equities
15. Singapore Real Estate Landscape
• A developed, mature sector broadening its regional footprint more than 21 listed
property developers (US$ 90 bn mkt cap);
• The FTSE ST Real estate index has a market capitalization of more than US$150 bn
• 3rd Largest REIT hub in Asia-Pacific after Australia and Japan; As at 2015, there are
more than 34 listed REITs and Business Trust listed in Singapore Stock Exchange with
a market capitalization of > US$66 Bn
• The Singapore Commercial and Industrial property market is dominated by REITs,
GLCs and private sector with increasing number of buildings being owned by REITS.
The Singapore government intention to promote as a hub for wealth management and
financial center.
• What are the advantages of Investing in REITS vs Real estate ?
• Tax transparency – Reits enjoy Corporate tax, GST exemption , no capital gain tax
• Lower transaction fee vs real estate transaction (GST, trading tax, broker fee, stamp
duties)
• No property management issues require
• Not subject to currency risk for Singapore assets
16. The largest REIT fund raised in
Singapore IPO - 2013
The REITs raised > S$3.4 billion (US$2.7 billion), or 68
percent, of the S$5 billion of stock sold in Singapore IPOs in
the past 12 months, according to data compiled by
Bloomberg.The biggest share sale was the S$1.6 billion
raised by Mapletree Greater China CommercialTrust
(MAGIC), a REIT that owns assets including the Festival
Walk shopping mall in Hong Kong and an office complex in
Beijing.The trust, which was also Asia’s biggest share sale this
year, surged 12 percent since its trading debut on March 7
2013.
Source : http://www.mapletree.com.sg/Media/News/2013/Mar/Copy%20of%20Mapletree%20Launches%20Fourth%20REIT-
%20First%20REIT%20with%20Commercial%20Properties%20in%20PR%20China%20and%20Hong%20Kong.aspx
18. Part of Real Estate Business Model
Core Real Estate Skills
Real Estate Domain
Knowledge + Industry
Networks + Asset Base
Financial Skills
•Origination
•Structuring
•Distribution
•Management
Create Assets Enhancing
Asset Value
Unlocking
Asset Value
REITS
Property
Funds
Advisory/
Structuring
Financial products/
services
19. Singapore Fund Structure
Private Equity Funds
Private equity real estate is an investment opportunity in which multiple
investors pool funds and invest in ownership of various real estate
properties. This type of investment is achieved when individuals make a
significant initial commitment of capital to a managed fund that scouts
out the potential real estate investments. Strategies used by these funds
vary in terms of risk involved and the types of property considered viable
for investment. One main drawback to private equity real estate for
investors is that their funds are generally frozen in the investments for
multiple years, providing little flexibility.
Mandate of fund is set out in the placement memorandum with
objectives, seed assets (if applicable), policies, investment criteria,
distribution policy, borrowing, reporting, investment committee, risks
factors, tax issues, redemption process and etc
Listed Funds – REIT / Business Trusts
Corporate governance is setout in the Trust deed; Trustee is approved
and regulated by MAS
Two common form in Singapore :REIT & Business Trusts
20. What is a Real Estate Investment Trusts (REITs)?
REITs are collective investment schemes that invest in a portfolio
of income generating real estate assets such as shopping malls,
offices, hotels or serviced apartments, usually established with a
view to generating income for unit holders.
Assets of REITs are professionally managed and net rental
income generated from assets, also known as “DPU” – Distribution
Per Unit are normally distributed at regular interval to you, as a
unit holder.
Individuals through the purchase of a publicly-traded investment
product, similar to shares of a common stock, provide dividend
income - usually from rental income and capital gains from the
profitable sale of real estate assets. It is important to know that REITs,
like other investment products,are not completely free from risk.
21. Why do Singapore REITS do well ?
* http://www.wongpartnership.com/files/download/700
Singapore has more than 60 double-tax treaty*
Good tax transparency and rules on asset sale, valuation
& Investments
MAS has clear Regulatory andTax framework on
rules governing REITS
Permissible investment by REITS and protects investors’
interest
Low interest rate environment helps
S-REIT’s assets injected are prime location, high-quality
and investment-grade
Changing dynamics of investor’s risk appetite and
developers interest in recurring cashflow business model
22. Changing Market Dynamics
Investment Demand Increasing
An ageing population will require:
returns in the form of income not
capital
capital preservation
low volatility of earnings
high transparency
liquidity
Source: Department of Statistics, Singapore
23. Changing Investor’s Risk Appetite
0% 10% 20% 30% 40%
North America
Latin
Europe
Asia
World
Percentage of total population over age 60
Aging Population
2002
2050
Investment Demand Increasing
Currently, 10% of world
population is >60. By 2050,
this will hit 21%.
Retirement/pension money
therefore increasing.
US pension fund is a USD 5
trillion market. A 1% shift in
allocation towards real
estate a USD 50 billion
demand!
24. Types of Real Estate Fund
Equity
Private Equity Funds
Hedge Funds
Real Estate Investment Trusts
Mutual Funds
Debt
Private Equity Funds
Hedge Funds
Mezzanine Funds
CMBS
• Sophisticated Investors
• Private arrangement, less
regulations
• Retail Investors
• Significant regulatory & legal
compliances
Public vs
Private
25. Types of Real Estate Funds
CORE
Target returns
7% – 10%
Typical leverage
0% – 30%
Asset profile
Income producing
Holding period
7 – 15 Years
Location
Major Metropolitan
Locations
ENHANCED
Target returns
12% – 16%
Typical leverage
40% – 60%
Asset profile
Completed with
re-positioning/
redevelopment
potential
Holding period
3 – 7 Years
Location
Undervalued market
with upside potential
OPPORTUNISTIC
Target returns
>20%
Typical leverage
>70%
Asset profile
Distressed;
Development;
Mezzanine
Holding period
2 – 4 Years
Location
Pioneer locations
with potential
Note:Figuresindicativeandsubjecttoadjustmentsforcountryand
sectorreasons
INVESTOR RISK PROFILE/ RETURNS
Source : http://www.wisegeek.com/what-is-private-equity-real-estate.htm
26. Why Asia – Stronger Economic Growth
Source :GIC
Source: Consensus Economics
4.9%
2.8%
1.7%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Asia US Europe
Average Annual GDP Growth (2011-2020)
27. More Funds Raised for Asia
Source : GIC
Global,
55%
US, 32%
Europe,
10%
Asia, 3%
Global, 53%
US, 14%
Europe, 14%
Asia,
19%
Asia,
19%
Source: PERE (Private Equity Real Estate)
Funds Raised (2006) Funds Raised (2010)
29. 10%
20%
30%
40%
50%
60%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Asia Europe Americas
Why Asia – Rise of the Middle Class
Sourc e: GIC
Source: OECD
• Size and output of middle class could be a better indicator than GDP to estimate potential size of
institutional real estate.
Share of World’s Middle Class
57.5%
30.7%
30. Types of Investors
Pension Funds
- ABP (NL), CalSTRS (US), PGGM (NL)
University Endowment Funds
- Stanford, Duke
Government Agencies
- SWF : GIC, Temasek Holdings
Insurance companies
- NTUC, Great Eastern
Corporations
- General Electric, Citigroup, Prudential (US)
Fund of Funds - Henderson fund,
franklin templeton, Russell, Swiss Reinsurance
31. GIC Real Estate
• GIC RE is one of the largest institutional investors in Asia and ranks amongst the world’s top 10 global real
estate investment firms.
• We invest both directly and indirectly across all property sectors.
Direct/ Indirect
Investments
Office
Industrial Residential Hospitality
Retail
32. GIC investment Policy
GICAsset under management : in excess of US$300 bn
Annualised 20 year return is 4% pa as at 31 Mar 2013
Source: www.gic.com
33. GIC investment policy
GIC real estate portfolio consists of :
1. Traditional private real estate – Office/hotels/retail/Industrial
2. Public equities
3. REITS and real estate debt instruments
35. WestQuay Shopping Centre,
Southampton, UK
Westin Paris, FranceOpernturm, Frankfurt
Kingshuset, Stockholm, Sweden
Merrill Lynch Financial
Centre, London, UK
Bluewater Shopping Centre, UK
36.
37. Global Source of Funding
Local ► Global play
Increasing interest in cross border
transactions
Ability to tap onto global capital
Platform to access third party income
to expand
39. Agenda – Part 2
Deals agents can work with the REIT
REIT framework
Investment by REIT
Fee Structure of a REIT
REIT vs Business Trust
1
2
3
4
5
40. Transactions Agents can work with the REITs
Sales & Lease back transactions (“SLB”)
Leasing deals for tenants (anchor or sub-
tenants)
Divestment/Sale of assets (end of headlease)
Head lease structure or Build-to-suit projects
Relocation of tenants when leases are due for
expiry
Broker deals/sites with re-development/BTS
potential; Maximise plot ratio, re-zoning,
change of use, etc…
41. Investment Deal Structure (Industrial transaction)
• Sale & Leaseback or Income Support - 3 to 15 years
• En-bloc or more than 51% of MCST
• Deal size - > $10mn - $ 500 mn
• Triple Net Yield : 7.0% - 8%
Criteria
Price – Structural deal with option for renewal or natural lease assignment
Location – near Expressway; major transport hub; circulation space for cargos
Credit standing of Tenants/seller – listed vs non-listed companies
Possibility of sub-division for mutli-tenancy or Strata unit sales
Land tenure of property – at least 30 years remaining
Building Specifications – warehouse; self storage; high-tech; Datacentre, etc…
Condition precedent – technical, financial and legal due diligence
JTC/HDB OR relevant authorities land sale/assignment guidelines
53. Investment in S-Reits
May invest in real estate (freehold, leasehold, inside and outside of
Singapore and related assets)
Assets includes : listed and unlisted debt securities and listed shares
issues by property corporations, mortgage-backed securities and other
property funds and assets incidental to the ownership of the real estate
May also invest through direct ownership, or through a shareholding in
unlisted special purpose vehicles which holds or own the real estate
Source : MAS
54. Typical fees to a REIT manager
Acquisition fee: 1% of property value
Divestment fee : 0.5% of property value
Development fee : 3% of project value
New leases : 1 month for every 3 year lease; 2 month for 5 year
lease
Renewal fee : 1 month for every 5 year lease
Property management fee : 2% of gross revenue
Reimbursement of property manager costs, advertising fee,
project management fee and related staff training fee.
Source : MAS OPERA http://masnet.mas.gov.sg/opera/sdrprosp.nsf
55.
56.
57. MAS changes in REIT guidelines
• Singapore, 28 September 2007...The Monetary Authority of
Singapore (MAS) has issued revised Property Fund Guidelines
(REIT Guidelines) (PDF, 332KB). The revised Guidelines are
intended to improve safeguards for investors and to provide
greater clarity and flexibility for commercial transactions. The
Guidelines have also been rationalised to reduce compliance costs
in a number of areas.
• The changes include:
a. Enhancing the disclosure requirements on the use of short-term
yield-enhancing arrangements;
b. Providing guidance on permissible fixed-term management
contracts;
Source : MAS http://www.mas.gov.sg/news-and-publications/media-releases/2007/mas-issues-
revised-property-fund-guidelines.aspx
58. MAS Changes to REIT Guidelines
• Disallowing discounts to institutional investors for subscriptions made
at the time of listing of a REIT;
• Specifying safeguards for REITs that intend to pay dividends in excess
of current income;
• Requiring a REIT to invest at least 75% of its assets in income-
producing real estate; and
• Removing the 5% single party limit for investments in real-estate
related securities.
Source : MAS
59.
60. Latest JTC guidelines on 3rd Party Facility Providers (“3PL”)
(wef 15th Nov 2013)
Source :JTC
62. Ascendas’ Fund Management
Ascendas Real Estate InvestmentTrust (A-REIT) was launched on 19 November
2002
Singapore’s first business space trust
Started with eight properties which has grown to 106 properties (as at 2015)
Listed at S$0.88, now trading in the range of S$2.40 - $2.60 in 2015
Listed with market capitalization of S$0.48 billion, now is > S$6.0 billion (as at
2015)
Ascendas-MGM Funds Management Ltd
60%40%
63.
64. Business Trust
A BusinessTrust is a trust that runs and operates a business enterprise.
Registered business trusts must have a trustee-manager whose role is
to safeguard the interests of beneficiaries (referred to as‘unitholders’
under the BusinessTrusts Act) of the trust and to manage the business
of the trust.
The framework to regulate business trusts activities and the
responsibilities of a trustee-manager can be found under the Business
Trusts Act.
In Singapore, the business trust model is a vehicle that has the potential
to help monetise infrastructure asset investments, and also get public
funding into risk-contained infrastructure assets.
MAS : http://www.mas.gov.sg/regulations-and-financial-stability/regulations-guidance-and-licensing/business-
trusts/list-of-registered-business-trusts.aspx
65. Business trust
Introduced by the MonetaryAuthority of Singapore in 2004
Singapore business trust is an investment vehicle structured so that a single
company, known as the "trustee-manager",holds and operates business
enterprises for the benefit of its investors, beneficiaries who are unit holders
Investors do not have any operational control or shareholders' rights, they benefit
from the steady dividend stream.
The trustee-manager is also professionally managed, and reports to the board
which comprises primarily independent directors.
Fiduciary responsibility to beneficiaries is placed squarely on a single trustee-
manager.
For investors, projects are often highly attractive investments. Besides often good
returns, they offer, perhaps more importantly, stable returns.
At a time when bank deposits rates offer less than one per cent in interest, business
trusts are generating returns of between 5 and 8 per cent.This profile is also
appealing for its potential ability to tap the huge pool of long-term savings residing
in pension funds acrossAsia and the world.
66.
67. Ascendas India Business Trust
Ascendas IndianTrust (a-iTrust) was launched on 1Aug 2007
Singapore’s first listed Indian property trust
Seeded with four world-class IT parks in India
Listed at S$1.18, currently at S$1.63 on 9 Nov 2007
Current market capitalization of > S$1.10 billion, in excess of S$3.5
billion
The V
ITPB
Cyber Pearl
ITPC
68.
69. REITS vs Business Trust
REITS
(CMT, CCT)
BusinessTrusts
(shipping trust, a-iTRUST)
Quarterly reporting and dividends
distribution
Semi-annually
Tax transparency
(as along as 90% of income are distributed
to unitholders)
Liable for income tax
Independence ofTrustee and manager Trustee and manager can be same party
Trustee act as a check and balance to the
unit-holders
Trustee and manager carries heavier
responsibilities to unit-holders
MAS guideline on gearing limit : 60% Gearing limit is determine by manager
70. Conclusion
A new business model : - Separating ownership from management (not
just a means of financing)
Different way of doing business : - Organizational changes needed
Effectively managing the shareholders’ interest and returns
- Active lease and asset management
- Structured & Tax-efficient asset arrangement
Opportunities :
- Act as fund manager (fund/ trustee management fees, acquisition/ divestment
fees, fund-raising, project management and etc…)
- Act as asset manager (property re-development/project management fees,
A&A projects, Asset enhancement and etc fees)
- An opportunity to acquire regional assets - Not limited to local market size
71. CONCLUSION …
Not the “latest fashion”, but here to stay
Very much a Real Estate business model
Competitors realize it, moving fast – regional player and local players
(Mapletree – office, retail and industrial/logistic,Ascendas – hotel
and Business Space, ARA/CWT, SPH)
Challenges
Internally - organizational change, biggest challenge
Externally - competitors, may overtake us
Bottom-line
This business has a customer – International & Institutional investors
The need for change is to reduce Income volatility and meet new demand for a
financial real estate asset
72. Q & A Session
&
Please assist to fill up and handover the evaluation form and
collect your certificate of attendance
73. C
A
A
A to Zs of Real Estate Fund Phraseology
Asset Under Management (AUM) : Total Open Market Value of assets that are
invested under the Fund.
Acquisition / Divestment Fee : The fee, which the Fund Manager charges, for
any property invested or divested by the Fund,
usually a % of acquisition cost / divestment
proceeds.
Carried Interest : Interest payable to the Fund Manager if Fund performance
meets certain pre-defined target. Usually a % of the returns in
excess of a pre-determined IRR.
74. A to Zs of Real Estate Fund Phraseology
Clawback : Provision for the Fund Manager to return all or part of the Carried
Interest (or performance fees or Shareholders’ Excess Return)
previously earned to the investors, should the ultimate aggregate
return of the Fund falls below a pre-defined target.
Committed Capital: Total amount subscribed for and committed by Investors at
the Closing Date of the Fund.
Closing Date : The date that the subscription period for the sale of units /
shares pursuant to the private placement of the Fund closes.C
C
C
75. I
I
F
A to Zs of Real Estate Fund Phraseology
Investment Committee : A committee that makes key decisions for the Fund, such
as acquisition, divestment, etc, and also to monitor the
performance of the Fund Manager. Usually formed by
reps from the Sponsor, Fund Manager and major
investors.
Investment Criteria : The set of criteria / restrictions that is put in place to
determine the type and profile of assets / projects that the
Fund may acquire or invest in.
Fund Management Fee : The fee that the Fund pays to the Fund Manager
at regular intervals (either quarterly, half-yearly or
yearly) for managing the Fund.
76. I
L
M
A to Zs of Real Estate Fund Phraseology
Minimum Subscription : The minimum sum, which an investor of the Fund, would
need to commit to invest into the Fund.
Leverage Internal Rate of Return : Tthe leveraged internal compound rate of return,
being that annual discount rate which, when
applied to a set of cash flows after financing,
produces a net present value of those cash
flows equal to zero.
Investment Period : A pre-defined period, commencing from the closing of the
Fund, that allows new acquisitions for the Fund.
77. S
P
P
A to Zs of Real Estate Fund Phraseology
Special Purpose Vehicles :A body corporate or other entity used by the Fund
as an investment vehicle to own real estate, which
is held by the Fund either directly or indirectly
through intermediary entities. Sometimes also
known as Portfolio Companies or Intermediate
Holding Companies.
Preferred Return : A pre-defined level of return for the Fund, which is usually
used as the trigger point for rewarding the Fund Manager
with additional performance fee / carried interest.
Pipeline :Refers to projects and acquisitions, which have been identified by
the Fund, for injection into the Fund at the opportune time.
78. S
S
S
A to Zs of Real Estate Fund Phraseology
Subscription Agreement : The subscription agreement to be entered into by
the Fund and an Investor relating to the
subscription for Shares or units in the Fund
Sponsor’s Commitment : The amount of equity, which the Sponsor has
committed to invest in the Fund. This is usually
done to show alignment of interest between the
Sponsor and the investors of the Fund.
Sponsor’s Excess Profit Share: Additional profit to be distributed to the Sponsor in
consideration of the Sponsor agreeing to transfer
the Seed Investment to the Fund and directing
investment opportunities available to the Sponsor
to the Fund. Could be triggered by a pre-defined
Preferred Return.
79. S
T
T
A to Zs of Real Estate Fund Phraseology
Target Fund Size : The maximum amount of committed capital that Fund
targets to achieve.
Term of Fund : The period from the closing of the Fund to the termination
of the Fund life. Usually extendable with investors’
consent.
Seed Investment : Refers to the asset / project, which the Sponsor injected
into the Fund prior to the closing of the Fund