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EPRA Monthly Brief
March 2018
It was a pleasure catching up with many of our members, old and new, at MIPIM two weeks ago, where the team and I had many excellent meetings to update investors who were very receptive to our message, which fills me with continued confidence in our sector.
 
A great example of this interest, is the forum organised by FTSE Russell late March, where EPRA was invited to discuss the growth and trends in the listed real estate industry in front of a room filled with new pension funds contacts. We had the possibility to present our recent research and data on the logistics sector and highlighted the continuing opportunity within the sector.
 
Last week we also held a very successful inaugural REIT conference in Madrid, about which you can read more below. I would like to thank Iberian Property for their continuing support of the listed real estate sector in the Iberian Peninsula, as well as all the panellists and participants for the lively discussion.
 
Talking of the Iberian Peninsula, I am delighted to officially announce that our 20th anniversary Conference in 2019 will be held in Spain. We will keep you posted on the details, and in the meantime do not miss our 2018 Conference edition in Berlin.  
 
Finally, I would like to wish you all a happy Easter and recommend to you our latest Industry Newsletter featuring Méka Brunel. Enjoy the read!

Dominique Moerenhout, EPRA CEO
EPRA news

Spanish success story set as example

The Spanish REIT sector is at a turning point towards maturity and consolidation after a spectacular emergence in 2014 that has led the recovery of the real estate sector, participants of the inaugural edition of the Iberian REIT Conference in Madrid heard. Co-organised by EPRA and Iberian Property, the event gathered over 200 experts in real estate, discussing the listed property markets in Spain and Portugal. Investors and government representatives from Portugal witnessed the benefits of a REIT regime for a market such as Spain. Miguel Ferre, Senior Advisor at EY and one of the fathers of the current Spanish REIT legislation, stressed that “the arrival of international investors has shown that REITs were what we were looking for during the crisis to recover the sector.” Ismael Clemente, CEO of Merlin Properties pointed out that “Spain and Portugal are very similar” and that he sees the Iberian Peninsula as “a single market.” Read more in Business Immo here and here.

Developed Europe Real Estate Index growing

Aroundtown and Sirius Real Estate, two companies primarily investing in the German real estate market, were included in the FTSE EPRA/NAREIT Developed Europe Index, the leading benchmark for real estate. Aroundtown is a listed German commercial real estate company with a market capitalisation of close to EUR 6 billion (March 1, 2018) and its portfolio consists of largely commercial with some residential properties, mainly located in top tier cities in Germany but also in the Netherlands. UK-listed Sirius Real Estate has a market capitalisation of around EUR 560 million (March 1, 2018) and owns and operates business parks, offices and industrial complexes across Germany. In order to qualify for inclusion in the Index the companies had to pass the EPRA criteria in accordance with the Ground Rules. Read more in the press release.

Financial reporting, investment philosophies & accounting

Do not miss the 2018 edition of the EPRA Reporting & Accounting Summit, taking place on April 17 in Paris. The keynote speaker, Paul Craven, will talk about behavioural economics and its impact on the real estate sector. The workshop will also feature panels around current global markets trends in real estate and financial reporting and accounting matters, including a special panel with the members of the Real Estate Equity Securitization Alliance (REESA). Find out more and register now.

Join the debate!

We will be opening registration for the 19th EPRA Conference shortly after Easter and look forward to meeting you all again in Berlin. Our aim this year is to bring the technology and disruption stories we have discussed in the last two years to an asset level and explore how these will impact our sector. We have several keynote speakers booked for the morning of the main day, among which Geoffrey West, Joschka Fischer and Dror Poleg. In the afternoon we have changed the format to two debates between the disruptors and traditional players in both the retail and office sectors featuring WeWork and Alibaba as well as titans of the listed sector. The event will be complemented by some great property tours and of course our Day 3 Investors’ day.
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