Co-founded by managing director Russell Platt in 2002,
Forum, a London-based real estate specialist, is seeking a new investor base of
global pension funds and the global rich, particularly the super-wealthy in
Asia.
Forum, with $6bn of assets under management, charges an
asset management fee of 1-1.5 per cent plus 20 per cent of profits – a cost
structure that is coming under increasing pressure as institutional investors
question the value such managers provide.
“There are legitimate grievances that the pension fund
industry has about fee structures and we’re attuned to those,” says Mr Platt.
What value does Forum provide? The group is an independent
global real estate investment management and corporate finance group with 60
people spread across its offices in London, the US (Santa Fe and Greenwich),
Hong Kong, Tokyo, Beijing, Singapore and Mumbai.
Despite being a real estate investor, Forum does not buy
property. “What some folks do is buy buildings. What we try to do is buy real
estate operating companies,” says Mr Platt.
Forum is used to dealing with very large investors.
TIAA-Cref, the US investment fund and annuity operation, agreed to back Forum’s
first Asian fund launched in 2004. “We owe our existence to their early
sponsorship,” says Mr Platt.
It also counts the large Dutch schemes, ABP and PGGM, among
its current clients, and provides “white label” property strategies for a
number of large fund managers.
Looking to the future, Forum has no immediate plans to
launch any new funds. “A fund comes with a lot of benefits,” says Mr Platt,
“but it comes with a lot of restrictions too.” The most onerous, he adds, is
the specific time window in which to make investments.
As a way around this, Forum is seeking new investment
partners to form investment “clubs”, with a specific focus on European
distressed property assets.
From top: Qatar University, Museum of Islamic Art, Doha
Skyline, Souq Waqif, The Pearl
Key Insights On The
Real Estate Sector Of Qatar
One of the world’s richest and most rapidly growing
countries, Qatar is home to a dynamic commercial real estate sector that should
be enjoying a boom. The outlook is positive; commercial real estate should grow
as natural gas exports flourish and as the government encourages economic diversification.
Qatar is also small enough that it should be easy for policymakers to control
the supply of new (and often prestigious) developments
Construction along the Doha Corniche.
With no other real competitor to the position of the fastest
growing economy in the world this year, we have no reason not to be impressed
by Qatar's immense potential, openness drive and rapidly developing
infrastructure. Nevertheless, conditions in the real estate sector have been
mixed. Rental rates dropped 10% in the office and retail sub-sectors of Al-Khor
, but 20-35% in the city’s industrial sub-sector and in all three sub-sectors
of Al-Wakra and Doha. The main effect of the global financial crisis was to
expose a massive - if temporary - oversupply of commercial real estate.
Qatar University
Qatar’s landlords did not cope equally well with the
dislocations. In Doha, the retail sub-sector of Al-Khor and the office and
retail sub-sectors of Al-Wakra, rental yields generally fell (or moved
sideways) as landlords held on to their investments. By contrast, yields soared
in the office sub-sector of Al-Khor and the industrial sub-sectors of Al-Khor
and Al-Wakra. The implication is that prices and capital values slumped as
particular protagonists were forced to sell at very low prices.
View of the Aspire Dome
When we interviewed them in early 2010, our in-country
sources indicated that they expected conditions would improve fairly quickly.
The details that our sources provided to us when we interviewed them again in
mid-2010 vindicated their earlier confidence. Rents have been rising across the
board since the beginning of the year and are expected to continue to do so.
Looking forward, we envisage that rental yields will
converge. In practice, this means that they should fall in the industrial
sub-sectors of Al-Khor and Al-Wakra, but move sideways or rise elsewhere.
Doha's skyline seen from the south side of Doha Bay, with
the Museum of Islamic Art in the foreground.
Doha Marina
The Business and Investment in Qatar Forum, was held this year in new York, in the United State of
America from 6 to 7 April 2011, under the patronage and in presence of H.E
sheikh Hamad Bin Jassim Al Thani, Prime Minister and Minister of Foreign
Affairs of the state of Qatar.
This forum was organized, by the permanent committee for
organizing conference, and Qatari Businessmen Association as the main
organizing partner, in cooperation with Ministry of business and trade, Qatar
chamber of commerce, Ministry of energy and industry, Qatari businesswomen
association, National U.S-Arab Chamber of Commerce, U.S-Qatar Business council,
Bilateral US-Arab Chamber of Commerce.
Source: Qatar Statistics Authority (QSA)
The forum achieved an outstanding success in the business
capital of America New York City. Were it attracted more than 1000 businessmen
and representatives from big and medium American companies, which reflect the
importance of the Qatari market to the American business community, and the
importance of Qatar as a center for investment in the region.
Another field was Highlighted by H.E the prime minister and
minister of foreign affairs Sheikh Hamad Bin Jassim Al-Thani which is the
financial sector saying "it enjoys stability and being able to achieve
higher growth as it was not affected except in a limited way due to the
international financial crisis implications because of the following reticent
banking policy. In spite of that, Qatar has implemented three programmes as a
proactive step to support the banking sector and one of them is supporting a
capital base for the Qatari banks"
Doha Skyline at night
Amid economic slowdown, Qatar's real estate market is
expected to continue its strong position regionally. Citing opportunity cost as
a key decision-maker for property investors in the region, Qatar will continue
to provide good quality investment opportunities in the medium to long term due
to its strong market fundamentals.
A growing economy and population built on the back of the
country's expanding oil and gas projects means demand will continue to remain
positive.
Interest from both GCC and expatriate investors continues to
be but we still expect a healthy outlook for high-end residential properties in
Qatar.
· The Pearl, West Bay and Lusail developments commanding the
highest sale prices for apartments
· West Bay and Al Sadd areas proving the most popular
fully-furnished apartments and demanding the highest monthly rents
o West Bay 2 Bedroom - QR 16,000+, 3 Bedroom - QR 24,000+
o Al Sadd 2 Bedroom - QR 9,000+, 3 Bedroom 11,000+
· West Bay and West Bay Lagoon recording highest villa
rental rates - QR 37,000 pcm
Commenting further, Asteco Qatar General Manager David
Oayda, said:
Khalifa Stadium
"Market confidence is a key factor in the success of
real estate markets. Speculation has been rife in the period leading up to the
global slowdown; however we've not witnessed strong evidence to suggest an
overall softening in prices."
There is still demand for premium grade office
accommodation, particularly in Qatar's newly recognised central business
district, West Bay, where multinational companies, particularly within Qatar's
oil and gas industry look to establish offices there.
Fanar Islamic Centre, Souq Waqif.
With existing demand for high quality commercial and
residential rental properties, Asteco advise property investors to shift their
focus to best managing their property portfolio rather than aiming for resale
at this time. The company offers a full range of services such as sales,
leasing, property management, valuation, market research and feasibility
studies that aim to help customers look after the investment, whilst making it
work for them in an increasingly competitive market.
Oayda added, "Qatar's economy is sound and expected to
grow in 2009, providing business and employment opportunities for expatriates.
Coupled with competitive financing options to own developments here, we expect
the Qatar market to continue to provide good prospects for the year
ahead."
Doha
Aerial view of Doha
Doha (Arabic: الدوحة,
ad-Dawḥa or ad-Dōḥa, literally: "the big tree") is the capital city
of the state of Qatar. Located on the Persian Gulf, it had a population of
998,651 in 2008, and is also one of the municipalities of Qatar. Doha is
Qatar's largest city, with over 80% of the nation's population residing in Doha
or its surrounding suburbs, and is also the economic centre of the country.
Doha International Airport
Jet Ski rider, Doha Corniche
Doha also serves as the seat of government of Qatar, which
is ruled by Sheikh Hamad bin Khalifa Al Thani. Doha is home to the Education
City, an area devoted to research and education. Doha was the site of the first
ministerial-level meeting of the Doha Development Round of World Trade
Organization negotiations. The city of Doha also held the 2006 Asian Games,
which was the largest Asian Games ever held. It will also be the venue of the
2011 Pan Arab Games which will be from December 9th to 23rd. It hosted the AFC
Asian Cup 2011 and will also host a large number of the venues for the 2022
FIFA World Cup. Doha is currently bidding to host the 2020 Summer Olympics.
Emaar Properties, based in the United Arab Emirates, is a Public Joint Stock Company (PJSC) listed on the Dubai Financial Market. Established in 1997 with an initial paid-up capital of AED 1 billion, Emaar Properties is currently the Persian Gulf region's largest land and real estate developer. With over 60 companies, Emaar's activities include property investment and development, property management services, education, healthcare, retail and hospitality sectors, as well as investing in financial service providers. In 2007 the government of Dubai through the Investment Corporation of Dubai took a 32% equity stake in Emaar by exchanging land for 28 billion AED worth of stock.
Type: Real Estate Industry: Holding companyFounded: 1997 Headquarters: Dubai, United Arab Emirates Revenue: $17.5 billion
With more than 14,000 homes, Emaar has several major real estate projects under various stages of development in Dubai. The company also owns and manages the Gold and Diamond Park.
Emaar started construction on its most ambitious project to date on 1998, the AED 730 billion (US$20 billion) Burj Khalifa Downtown development, which comprises the Burj Khalifa - the tallest tower in the world when completed in 2009, the Dubai Mall, Burj Khalifa Business Hub, The Lofts, The Old Town, The Old Town Island, Burj Khalifa Boulevard, The Residences, Burj Views, man-made lakes, landscaped parks and gardens. Located in the Burj Khalifa, Armani Hotel and Residences Dubai includes 160 guest rooms and suites, restaurants and a spa covering more than 40,000 m². Above the hotel are 144 luxury residential apartments.
Burj Khalifa Downtown
The company has joint ventures and projects across the region covering Algeria, Bahrain, Egypt, France, India, Indonesia, Jordan, Lebanon, Morocco, Pakistan, Saudi Arabia, Syria, Tunisia and Turkey. International projects include: Cairo Heights in Egypt; Boulder Hills, a leisure and residential community in Hyderabad, India; multiple resort projects in Morocco, including Amelkis II & III and Bahia Bay, residential golfing communities; Eighth Gate project in Damascus, the city’s first master planned community; and Lakeside in Istanbul.In Saudi Arabia, Emaar is embarking on the creation of the AED 98 billion (US$26.6 billion) King Abdullah Economic City, a mixed use development covering 55 million square metres of greenfield land with a 35 km shoreline close to the port city of Jeddah.
Emaar Properties announced plans to expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent.
Mohamed Ali Alabbar
Emaar’s Chairman, Mohamed Ali Alabbar, the Director General of the Dubai Department of Economic Development and Chairman, Emaar Properties, is a member of the Dubai Executive Council, the supreme government body with the mandate to synergize all growth initiatives in Dubai.Mohamed Ali Alabbar with John Laing
Emaar Properties acquired John Laing Homes, the second largest privately held homebuilder in the U.S., creating one of the world’s largest real estate developers in residential homebuilding. On February 22, 2009 Emaar issued the following statement about John Laing Homes filing for bankruptcy: John Laing Homes, one of the largest privately held homebuilders in the United States, has announced that it, along with certain of its affiliates, have elected to file Chapter 11 petitions in the US Court for the District of Delaware. John Laing Homes anticipates that the Chapter 11 process will allow it to significantly reduce debt from its balance sheet while facilitating a strategic reorganization of the company, which will place it in the strongest possible position to sustain its momentum despite extremely challenging market conditions.
Founded in 1993, the Noble organization is comprised of strategic business units that specialize in the lodging and hospitality real estate sector. Noble's overarching mission is to be the most respected hospitality organization in the United States, as measured by the loyalty of our team members, our customers, our financial stakeholders and the communities in which we live and operate.
Through its private equity real estate funds, Noble Investment Group is a value-added, active investor in hotels and resorts throughout the United States. Since inception, Noble has realized premium, risk-adjusted returns while investing more than $1 billion in the lodging sector. The organization's current discretionary private equity fund represents $310 million of equity commitments.
Ranked No. 2 in the Top Companies In Atlanta-Sandy Springs-Marietta, GA
Ranked No. 5 in the Southeast Inc. 500 Companies
Share Status of NIG from Oct '10 to Jan '11
What it does: Uses private equity financing from state pension funds, a university endowment, and 12 company principals to purchase, develop, and operate hotels, from the W in Atlanta to the Westin Long Beach in California.
Why it's growing: An influx of private equity financing has allowed Noble to snap up 25 properties since 2002, for a total of 40. Founder and CEO Mitesh Shah also attributes Noble's growth to its ownership structure: In the past five years he has added eight new partners, each of whom invests in the firm's private equity funds.
India is one of the fastest growing economies in the world and has almost an unparalleled potential in the field of Real Estate. The number of billionaires in this country is increasing at a catalytic pace along with a huge increase in financial resource and investments. The city leading this economic revolution in India is none other than it’s financial capital – Mumbai.
Located on the coastline along the Arabian Sea it has a very strategic geographical location and attracts corporates across the globe. The number of skyscrapers has increased wildly in this megacity and 43 out of 45 tallest buildings in India are here ! By 2015 Mumbai will have all the 100 tallest towers in India !
Following is a list of the tallest towers of India :
This lists ranks buildings in India that stand at least 90 m (295 ft) tall, based on standard height measurement. This includes spires and architectural details but does not include antenna masts. Only completed buildings and under construction buildings that have been topped out are included.
Serial – Tower Name – Location – Height – Floors – Completion Year
This lists buildings that are under construction in India and are planned to rise at least 90 m (295 ft). Buildings that are only approved or proposed are not included in this table.
Serial – Tower Name – Location – Height – Floors – Completion Year
Co-founded by managing director Russell Platt in 2002,
Forum, a London-based real estate specialist, is seeking a new investor base of
global pension funds and the global rich, particularly the super-wealthy in
Asia.
Forum is used to dealing with very large investors.
TIAA-Cref, the US investment fund and annuity operation, agreed to back Forum’s
first Asian fund launched in 2004. “We owe our existence to their early
sponsorship,” says Mr Platt.
