EPRA Monthly Brief
June 2020
I want to start by thanking our numerous members who have agreed to take part in the EPRA Total Tax Contribution of the European REIT sector project with PwC. There is still time for REITs to join the project so in case you haven’t done so, please contact the Public Affairs Team. The results will be published in Q4 2020.

We continue to adapt to the new reality and convert a lot of our activities and outreach this year into a virtual mode, incl. hosting webinars together with the Big Four related to the new EPRA NAV & BPR guidelines. As a trial run for virtual events, EPRA held its very first Virtual Corporate Access Day on May 28 with 20 member companies presenting in one-on-one secure calls to over 40 investors, including investors from the USA and Asia. We look to repeat the experience on November 25 with around 30 member companies, so please save the date. This month we also are hosting our first virtual outreach to Middle East investors together with NAREIT, reinforcing our messages about the numerous benefits of investing in listed Real Estate and to update them on the recovery in Europe. The interest from the region’s investor remains strong to invest globally and the listed route is increasingly being assessed due to cost-efficiency and performance. EPRA is pleased with the announcement today, where a  USD one billion  was committed to the sector from a SWF with a global mandate benchmarked to the FEN Index

Last week we opened registrations for our first EPRA virtual annual conference. Read more about the event below and do not forget to register.

Finally, as always, I would like to warmly welcome our newest member, DVI Group.

Dominique Moerenhout, EPRA CEO
EPRA news

Impact of COVID-19 crisis on European listed Real Estate - a market research by Oxford Economics and EPRA

With the lockdown now easing across Europe and the recovery underway, Oxford Economics and EPRA have recently published a market research giving an overview of the impact on each sector, but also highlighting the similarities and disparities with the previous global crisis.  While all sectors are now waiting to get back to normal, the Oxford Economics report expects the listed Real Estate sector to experience a slow yet strong recovery in the second half of 2020 mainly supported by a re-opening process in several European economics and strong effect of economic programs by both governments and central banks. The FTSE EPRA Nareit Developed Europe Index is also expected to come back to pre-crisis levels in a significantly shorter period than previous financial crisis. Check the full report here (for EPRA members only)

EU Renovation Wave initiative consultation is now open

The building sector is the largest single energy consumer in the EU, responsible for approximately 40% of energy consumption and 36% of CO2 emissions, mostly due to some 75% of energy-intensive buildings having been constructed before legislation on building performance was in place. Intensifying energy efficiency and renewable performance of buildings is a number one concern as 80% of existing buildings will still be in use by 2050 and only 1% of buildings are being renovated each year.
In this context, the European Commission has recently opened a public consultation on boosting the renovation of buildings across the EU, open until July 9, 2020. The consultation intends to gather inputs from a broad range of stakeholders including Real Estate sector actors, with the aim of preparing the Renovation Wave. This initiative is a priority under the European Green Deal and strives to boost the rate and quality of renovation, thus speeding up decarbonisation of the building stock. As a result, the European Commission would present an action plan with concrete and ambitious measures by autumn 2020, to at least double the annual renovation rate of existing building block. A preview of the consultation is available. You can submit your response here.

EPRA Virtual Annual Conference 2020

We are pleased to inform you that the registration to attend EPRA’s first Virtual Annual Conference is now open! This 2020 edition, held  7 - 11 September will be quite special as the content of the event has been adapted to better suit the needs of our industry in these different and uncertain times; yet we have set up a seamless virtual environment for you to fully experience a vibrant and unique event. Do not miss our live panel debates on Wednesday 9 September from 2pm  and with keynote speech delivered by Peter Praet, former ECB Chief Economist, followed by a panel of listed real estate key-player CEOs and investors to discuss the impact of the COVID-19 crisis on the global economy and the challenges to be faced in the new business landscape. The traditional “Investors’ Day” has been converted into live investor pitches delivered by over 30 EPRA company members throughout the five days. This event is completely free of charge with no limit on the number of representatives per company. Register HERE
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