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Smart Built Environment Forum 2020
November 16, 2020, Online, Dubai, United Arab Emirates
Smart Built Environment Forum 2020
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Day 1: Does International Property Management Add Value to a Building?
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  • Description
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About the talk

This panel discussion will shed light on how the role of international property management can add value to a building? And address how owners today can be prepared and protect the value of the investment.

Moderator: Lindsay McQuillan

Speakers: Arron Browne, David Pine-Coffin, Esra Fanoscu, John Stevens

About speakers

Lindsay McQuillan
Head of Asset & Property Management at CBRE
Arron Browne
Business Development Director EMEA at WeWork
David Pine-Coffin
Head - Property and Facility Management Consultancy at MENA
Esra Fanoscu
Managing Director, Corporate Services and Strategic Sourcing HSBC Europe at HSBC
John Stevens
Senior Director at Al Ain Holding

CBRE offers a broad range of integrated services, including Commercial Real Estate Services, Consulting Services, Valuation & Advisory, Retail Services, Industrial Services, Project Management, Agency and Brokerage Services, Facilities Management, Asset Services, Corporate Services, Research and Consulting, and Capital Markets. CBRE is the leading full-service real estate services and investment organisation in the world.

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An experienced property professional with a demonstrated history of operational, managerial, and financial results across numerous mixed-use developments; concept-to-completion success in project initiation, multi-party contract negotiation, growth strategy, matrix structure management, operational excellence, PropTech innovation, revenue optimization and management of landmark developments.

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Fellow of the Royal Institution of Chartered Surveyor's with over 19 years professional experience across Europe, Middle East and Africa. At JLL, Head of Property and Asset/Portfolio Management Division (PAMS) for MENA. Specialist in both mature and emerging markets, current based in Dubai covering MENA region. Currently manage a diverse team of professionals. Key Skills: Commercial/Mixed Use Development Management, Development Advisory, Asset/portfolio Management, Commercial Set Up and ongoing Management/Asset Management, Mixed Use Commercial Assets, Service Charge Set Up, FM procurement, FM Management and IFM.

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Corporate Real Estate professional with 32 years of experience in the sector specializing in Real Estate Market, Construction, Design, Project Management, Health and Safety, Facility Management and acquisition of Radio Base Stations. Has proven experience in leading large scale corporate real estate projects and executing major end to end property operations, property related process design and development, environmental/workplace change management through influencing corporate culture, facilitating decision making and managing cross-functional teams in multi-cultural environment.

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An International Real Estate expert with a strategic mindset, acute business development skills, and entrepreneurial vision proven to identify, develop and manage highly profitable property development projects and portfolios. With a highly attuned fiscal acumen, I have effectively managed significant OPEX and CAPEX budgets, employing advanced business modeling skills to ensure strong ROI and balance sheet management.

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Good afternoon again, and Welcome to our first live and discussion for the day. So the topic today that you're discussing is just International, Property Management, add value to a building. Now. This panel will shed light on how the role of an international Property Management can or does it really add value to a building and also a bed and protect the value of the investment. I'd like to start off with by introducing the panel to you. So we have here with us. Mr. Allen Brahms c o o from Kaizen as a night. Watchman Services. We ought to have

mr. David find Coffin that had property and Asset Management Services from jll. And we also have Miss estefano School, the regional head of corporate. Real estate me not to HSBC Bank, with me is limited. And of course, we also have this is John Stephens, the managing director of a Steak au poivre. Management. Now the session will be moderated by Miss Lindsay McQuillan, the director and head of property and asset management, CBRE the property management. So we was pleased to note that the Q&A will be held in the last 10

minutes of the discussion. However, I do encourage you to post in your questions but a moderator will be addressing them. What's the last 10 to 15 minutes of the discussion? And, of course, we do have a networking Lounge out there where we can take the discussion post session with you. I say thank you for inviting us all to speak here today and on what could be a bit of a divisive Topic at start a discussion and Aaron. Can I ask you at East Bay Property Management can actually add value to those lengths.

I'm about to go discussion. Thank you. And you because if it didn't, we wouldn't be having this discussion. Your we wouldn't, I wouldn't be in this position and property management companies when they exist. I mean, bring the proof in the pudding. I was just picking up from the company also, increasingly evident than in the last four years. Overall, 50% increase volume point. Five billion dollar industry globally up to $22 by 2023. Need for landlords investors property,

property manager, these chilly evidence based on the curse of the best of my knowledge of the industry. Hey Denise, a good property Management's. And John. Can you tell us what? What what? Does that mean any featuring structures? Good property management management Technologies, and our customer is a lot of factors that give you a good Property Management Company. And I'm turning to you, David, and do you think the farthest in respect of the property management here in the UAE

Regent? Then you would see elsewhere in the world, for example, of the New York on call. Yeah, you see similarities emerging-market, you'll see, you'll see the count and therefore the tenants to chsp today. We'll have to see how much I'm so it's not seen as a profit and thinking this in the region have been all that. I'll be working. A perfect idea is nothing. Change with things like human getting the correct facility managers in place who understand the assets at the register. The complete has built drawings me but not all readily

available. It's the way the question, we all stood. If you take on a new bill. It's very, very difficult to maintain the high quality management, or they won't teach us in safety. I want to see things, especially now. We're trying to vent and things like that, that people are active and then managing the And as a G Thang, what what day did saying? Do you think that is true for an for your business as well? Yeah, yeah. Absolutely. I'm in the speaking of art

to sort of the clients a point of view, it is I am and the team and my team is managing all so old and be listed portfolio for the bank. So we have our fee holds, we have been sublet properties across. All the middle is managing their aunts two million square feet, above 2 million square feet or portfolio for the bank. And that's absolutely right. David really, actually. It's right. Because as long as the, your whole property and in good shape, in terms of Maintenance, in terms of our Technologies and follow through, so you're increasing the volume of

all of the portfolio, but also increasing the life cycle of the assets. So that's also very Important tomorrow. Cuz I'm not just only, we are responsible for our people living in the building in terms of protecting car, maintenance house. And see if we're also responsible to really, actually, look how often are two buildings in, in good shape. So, that's why I mean, HSBC, I could pass for my experience. So we do have a very serious and management to actually using the last modern, techniques and procedures. And we also

work with companies like it out of there, like Stevie Rae and to manage our And until you believe that and your expectation of how your property is mine age is the same across the globe, or does it change country to Country region to region? Not necessarily. I'm so in HSBC. We have a standard Operation Forces used to be called and said, this is not changing on a constant basis, of course the regulation or such a romantic maintenance, related activities can be varied market-to-market. What's the standard operating manual is the same for

HSBC for about 70 countries across the globe. I'm coming back to you just and respect all the back to the, the point on value. What do you think? Are the key components that are driving by you and from a property management perspective. What are the most important thing? It will stay over the next 5 years. I think if you look at that in the, the components of what the basic kinds of property management said, generating income, maintaining occupancy, and under tension, controlling, and on your text. And then I'm looking at the

those are the key elements. You have to control 2 to ask about you increases. I went and it didn't work independently. Hi to increase your value or the building to the right people lowering the amount to spend on the building without going to be eventually leading to less satisfaction and Penn State. I think the key to do really driving, you're driving value increase, and they have to be controlled consistently. I'm intertwined with the relationship with your family service providers, but also the relationship with the that the

landlord know that the ambassador's Well Service, if the balance of those relationships service provider, landlord tenant has five elements together that lead to an increase in the value of transactional Market here. Relatively speaking, here in the region. And do you think that landlords owners are actually focus on value? That's a good question. I think they always our Focus from experience. That's when I see things, we have to look at when we coming to annual budgets

and reviews. And that's always the underlying conversation that happens with our clients. I understand there is a mistake and correct less transactions, but I think still with the shareholders behind them looking for ways to see that the value of assets. It's what we have to be accountable to and responsible for at all times at property managers. They might even though it may not result in a transaction in the short run that we have to look at the actual statement to the maturity, the markets eventually we'll get to that stage. Where is

Serena? Take me to make sure you're not getting entry steps, which is the acquisition, the value out. And then the stability of the market. I think with you between the value of instability phases and then it's the better team you can stop the alarm. You mentioned that you had what what do you say his body? In respect to the movement of the real estate market in full flow. I think we're looking good. A bit more Capital injection bit more refurbishment

reinvestment in the buildings, looking up those register. My boss needs replacing and I respect. So I think especially with the amount of properties coming onto the market. Now, we have to look at competing with that new properties owned the building. I said, they're going to be 15 to 20 years old. I understand that you mentioned and annoyed that the increased amount of documentation, which is available as though, throwing Etc. And do you think and other things have an impact on by you. Like the PPM schedule, life cycle, reports excetera and aren't always

readily available and or buildings and in the three agencies take box will have an issue in the long term. I think I look at any building that is not King Betta gangster, not busted back. If the building's would have been fun section. So I am and we will always have prepared a to Route. So we'll have a complete nut in the room so I can do with the information. That's because I'm not data gaps. Effectively mean risk in any risk committing be taken as a as a price.

I think the question is, whether the dates are they know? Truly if I didn't formation is Mystikal locked into the transparency question. Typically the buildings, we we But I'm looking for the great idea. Buildings breakbeat us building, provided. They have to look to maintain it. They will bring up dates together. The pressure is the quality of information. Is it Chad? And I are being amazing. I'm going to take a little nap that I haven't given us at register. And you lost a question was. It's been validated

pleasantly surprised how to represent when he started looking at the dates that you're around. Do something that you want to do something. John Deere gray as well that lack of data at like a meeting for beta. Has a has a huge impact in this region in respect of a value. Epiphany. CBRE transaction-level all buildings in my entire time. We that I have with the speaker single, one of my clients that has sold the building but they haven't sold them at the market matures. You will see that. That's a lot of this information and any other mature Market

will have the building in order. And that makes the purchaser more confident and yet. And I think that may be in this system that processes that we using will be, will be available. Let me register doesn't building. I will just tell me going to look at my 10-story building. And we turn up anything stories. Spell exact. And why you mentioned there that your clients have a Dock Street sold any buildings? Why why do you think that is? We all are individuals. Local network, they built themselves.

If they going to sell the assets that they have has no bearing on any property valuation. What is the exit strategy? What are you looking to achieve? And I think that the Divine you that the majority of our clients are looking for is the Indy the actual net return, the rental income declined, after the expenses, with it, that they didn't cut the value of it. Ezra from your perspective. Do you agree? Do you agree with what John is saying? Not too sore knee. I believe the money and I think

the time is also interesting factor in the transaction that process. So, we in the past, we manage different type of sharks. Are transactions, either VM exits from a rental property or so. And as long as he holds or are we sublet? So if you're an appropriate your premises in good shape and maintained while papers are ready and legal papers are also important. I would like to hide. I care. So the time of transaction is getting much easier for a quicker the other problematic

once and time is money. So that's why I think it's important to. Maybe you should also highlights here. I'm too, but I also see during all these transactions I mentioned here in the region. If you have a and Val maintains actually building either landlord or the messages are willing to take because they don't want to spend additional huge amounts of capital into the building. So if it is in good shape, they're also changing as small amounts of brioschi interior parts, not touching the whole Engineering Systems or infrastructure. That sounds like an important. Should we also

have just seen that, you know, we actually in the past and so we had very quick in terms of different transactions and complete with that way. Aren't you mentioned earlier in respect of all packs, and I'm given the current situation and the wished it to reduce tall packs cost with that in mind. And the thing, that. Landlords will be prepared to spend potentially more money to have a more premium Property Management Service. And in order to to drive by it or will always be a race to the bottom in respect of all packs.

God. I wish it was a case of that bitch would be willing to spend more money on property management. Haven't recently is looking at staring at that and try not responsibility of the outlook for the copy of the cost of the value, inequalities the end user, but I was going to have to be some consideration of the fact that, you know, they're all coming in the moment. They're all. Tenants, have the retention and white tennis and the building, and I need a tracking index, both residential and commercial, but I think From what I've experienced this year,

has been no difficult discussions and mediately on the property management say on the cheesy nuts. And I hope you have some results after you've been lying for no expertise and experience to make sure that through this very difficult time in the Android market conditions. We can actually reduce the effects to keep a level of service and look to reset. So, that's when we come through that serious. It's the rock Federal Way to Junior. We can look at the example with bringing in Energy, Efficiency companies, where, where we come back any further reductions. And on things, I can 50

consumption with pain with engine efficiency on a, a non-catholic injection method of a decent options going forward as well. So I don't think it's a meeting and have a question. I think it's a Reliance on us at the moment to look at areas where we can reduce effects. Building without reducing up the level of service I do. So, look at long-term strategy as well. And that means Adventure investment in our teacher to look at me, the consumption, try the buildings and not, but we can look at in a longer-term, but that

won't be necessary to be the solution. Now. How do you say, let clients are receptive to sustainability, measures the restore things for buildings to to drive. It all packs cost. It's more of a focus. Neither was a five years ago. Yeah, after that. It's still very early discussions. Don't get me wrong. When all this point where I can, I replace rotor out with one of my buildings, but it is very much a concentration from standing in the last 12 months about elements are in place of sustainability of the building. The energy used where is wasted

and it's been highlighted think. Once you see the buildings during lockdown, the extreme Trucking in energy consumption and other assets divided reduction and he still acting with the Catholic nuns from the day-to-day operations become a travel reductionism. We have them in a pool tournament that we will make a you on. You have a ductions justify continuing the same practice. And what I think right now we have to do, is, make not actually built into the contract whereby. We are committed to their not personally cost basis, but also had a responsibility to the environment.

And David just on that point of, of sustainability, and how do you think and international firms like LL hearts? And they helped local time to promote given our wider Global platform. I can be hell trying to understand this. Are you going to say something? If you like around building Knoxville, Tennessee to konteka come in and look at what is the the technical side of reducing energy costs? One of the big ones that we have two buildings is District cooling looking at

maybe renegotiating contracts in ways that the the densities of the return temperatures can be can be reduced to the level. We do any deal with it. I'm looking for some of the wider, what we can bring to the table. We've been working with to Lodge on 28 after. So I wanted to buy a note. Lowe's cabinets. Do you know where we looking to basically Kratom State ability for that? Business was looking at a much wider view of crazy things to see us all policies that, there are policies, helping them in my reporting. Understanding things up that utility cost measurement

and reporting of where we're very lucky that we have a local same here cuz we just think it's going to be so much. I just great. The sustainability of wine has an 870. Is it something that you see him all the companies globally and locally. And I just say you were going to see that happening more and then I will come down tomorrow. I'm going to say that. Smaller private companies as well as it's the right thing to do and I think he's going to be able to pressure and I think the buildings we can demonstrate sustainability will attract corporate

buildings and stated that will provide you with aliens commercial building. Amazing thing in international Property. Management. Give you an advantage in this for fact. I think so, but I'm not I'm going to say yes, cuz I think we we bring the best breakfast place team in the state of Illinois. Team. We we have a fantastic team in asia-pacific. So I'm in Australia runs a real life. So we're able to bring the spray in Singapore into the parts of the world and I'm not really powerful things to do

in the UK and Europe with local property managers as well. We want to bring the best practice to the table, but also, to improve the environment, we all living and working. Live in the region. We work in offices in the region and I didn't work in an office manager at our best interest that we support each other. And I know the results that will benefit the environment. You think it's fair to say that the definition of appropriate management at seems to be broad enough to capture these sort of these sort of things like sustainability. Do you think

that's a fair statement? Yeah. Absolutely. Nothing can take the big Topic in the big question. The way there always are graded buildings. Does it cost? Reduction utilities and impulsive line service. Customer is environment. It's the building that has a cost. Pretty cool for the Locum tenens. I'm just in case, it's the right thing to do and it will provide resilience to the building department. John was touched on drug possession on technology. Came to understand what? Part do you think technology will have to play in reducing

our backs car and potentially and enhancing value over the next 5 years. Technology is really moving into all areas of our business, whether it's their, the buildings themselves being smart or operations. If you are managing a building with a PMS, electric remote control, things are going to, which technology I think it was so intense. It really in the operating side as property managers. When I first arrived again, when I first arrived in Dubai property manager has

to be able to deliver the services within the clients. Expect by using technology, is an assumption nowadays that other property manager has collected is the added value. To serve me as a client, administrative management businesses, with a technology Blackburn account. Imagine that there going to be a deliberate, professional Quality Service of property management without a Technology support. And the ability to work with these landlords and property developers

of the buildings development to get the technologies that we would like to see in the property. Quite often. We get involved at the buildings, coming to do some very nice equipment during the development, managers in the building specification, search again, property manager in a building's development and we can add and we can ultimately, hopefully we open but they will be delivering a building this more efficient to run. Okay, thank you. I think know if we're going to move just to some questions from the audience and

question from Abdul would like to know and high Property Management house to decide on on rental Bayou. Anybody like to take that question. Alamo II. Are you busy? I mean, I think he was probably just a market-driven. I'd say, you made it to say some, some buildings in a slight premium. If they have a, an international property manager, but I think it's a little bit of a grey Area Rental values vary by market. What I would say is that Quality Property Management will give Comfort to a tenant in a tenant taking space,

especially International corporate tenants weather be in writing about solar panel here, but knowing it was managing the building will give you and that will probably as a landlord mean, your rental rates are going to stay stable. To some extent and it will give you that comfort and animation. Brazilian Quality Property Management is resilient the Ender Dragon. And I really want to move a building if they spent a lot of money. Fixing it out that stuff. I happy.

As long as you're going to probably keep the tenants in the building during this kind of Market, eight of the set for Orlando. Another question from Abdul and John. I think that's what are the standard Property Management fees. She mentions and they wire 5% of rental income and noise, probably around 2.5% and it might not be feasible. An individual owner of an individual unit. We're seeing more clients on the larger portfolio to Milan with a performance. Be based on the location of the

condition of the deranged. Adam, Ezra at a question from from Cameron and what are the benefits of of invoice, property management, Personnel Source? Yeah, I can take this because I use both services and the, in the past. I also lost heavily in house to our sources floor. I just press on it and cons in boats area, but I think and using it and experts or also service, give you a lot of Mohawk, rather than sticking on leaving want one person or two persons. Actually,

it'll stay in the cold affect the cycle. That's the one thing, it's important to really use the new technologies that service providers are experts on. It's why don't you really actually use it instead of creating your own Army. That's the important one. The other one and always service providers are bringing a difference and contribution into the property management. I think it is important. Also try to look at the holistic way to the point. And of course, using in house and property management team, it's very giving. You love of

flexibility and give you a hug for. Also kind of a giant Luke style. Because at the end of today, the service provider has armed forces forces. He is a known really actually assistant a button wrong wrong. It is always important to to look at the major contribution taxes, which I believe offer for our desires. You're bringing Elizabeth difference. If expertise new technologies, no horns, and the risk management factor is much much actually and Nanny and also provider service.

And another question from from Bush shrub and you could answer this, property management assist in generating revenue, and I'm high. Yeah, I mean the most to me down to that place is the rental income. But if we move away from that because that's giving us, how is the car, parked more effectively. If not, very simple solutions. For example, something that you are tenants required and you can use the moment is looking, especially the companies in storage, but no, we can utilize, can we build in a

Units that also that I use for additional additional to the standard, rental income loss, counts, 2.2% of all, it's not always possible. And David a question from from Ian. And do you see a trend of global company being reliant on the international property management companies and or is it more localized support on a country-by-country basis? I think it varies hugely. I think it can. I think the international companies bring as I mentioned before as to the effect of practice and probably a comfort to a lot of fun,

a lot of evidence, but I think our Explorations because sometimes sometimes International companies are unable to service some countries that easily. I have a look at play Saudi Arabia. Sometimes it's actually better too, maybe use a blend of international and local companies, just because of things like licensing and ease of access diesel, do stupid things. Sometimes the barrier to entry unstable. Maybe easier to use a local Electra provide that we would have. Some of us aren't typically

countries that we may have more control save a table. I never doubt me but maybe in say if we have that we may have less control. But we have local company for the services, but we would have fun. We we be on the hook and comes with a liability. So we can still laugh and make sure it works. But we would utilize them. We we, we just, we would be flexible to use the voice model for the Rye country in the world. Thank you, and so that brings to an end and the panel discussion today, and thank you very much at 2 everybody. I think it goes without saying and if anyone has any further

questions before anyone of us, and we're all here, and I'm more than happy to answer any questions. The props didn't get on search and today is part of the session and thank you. Thank you very much.

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Lindsay McQuillan
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