Development Appraisals: Features and Analysis [NOV 2019]

RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, constructionandinfrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve.We accredit 125,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation, real estate management; the development of infrastructure; and the management of natural resources, such as mining, farmsandwoodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.

RICS Royal Institution of Chartered Surveyors

Date: 9 November 2019 Time: 9:30am to 5:30pm  CPD hour: 6 hours Language: English (supplementary with Cantonese)
Early bird discount: HK$3,000 (RICS Professionals); HK$3,500 (Non-RICS Professionals) Deadline: 4 October 2019 Course fee: $3,500 (RICS Professionals) ;$4,000 (Non-RICS Professionals) 
 
<HR>
 
Overview 
Development Appraisals are widely used by developers and valuers, but what are they, and what is included in them? This course is designed to answer these questions. The trainer will detail in what situation a development appraisal is suitable, what are the key inputs, what can a development appraisal tell the valuer, and what are the pitfalls of which to be aware.
You will be introduced to the residual method of valuation, shown when it is used, and its components. The trainer will also explore developing cash flow residuals, multi-phase development appraisals and sensitivity analysis, and will consider the differences of valuing to land value or developer’s profit. At the end of the day, attendees will have a comprehensive knowledge of how a development appraisal works when employed by a development consultancy or for loan security purposes, and will be able to confidently work on appraisal projects.
The course will be delivered from the perspective of a surveyor undertaking a development appraisal for either a development consultancy or loan security purposes. The trainer will analyse the content, requirements and features of a development appraisal, and will ask delegates to complete a number of individual and group exercises. This will include delegates completing their own appraisal during the day.
 
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Why You Should Attend?
Although development appraisals are mentioned in undergraduate courses, the level of detail required in the commercial environment is not covered, especially for multi-phase developments. This course will fill in the gaps. The course will develop individual’s ability to comprehend and consider development appraisals, identify the key drivers of value (and the risk associated), as well as prepare sensitivity analysis. All are key points required to produce professional appraisals.
 
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 Learning Objectives 
After this programme, you will be able to: 
<UL>
<LI>Identify the key inputs and drivers of value;</LI>
<LI>Determine when a development appraisal is appropriate and what information is required</LI>
<LI>Define the components of a residual valuation and when it is used.</LI>
<LI>Appreciate what sensitivity analysis is, what it tells us, and its importance</LI>
<LI>Identify pitfalls to be aware off, particularly when reporting to a lender, and when working on phased developments.</LI>
</UL>
 
<HR>
 
Course Content 
<UL>
<LI>Why are development appraisals used? What are the associated risks?</LI>
<LI>What information is needed to prepare a development appraisal and where does this information come from?</LI>
<LI>What is sensitivity analysis and why is it used?</LI>
<LI>How are phased developments modelled?</LI>
</UL>
 
<HR>
 
Who Should Attend? 
<UL>
<LI>Newly qualified surveyors currently as either a valuation/development surveyor or client-side developer</LI>
<LI>Senior surveyors with limited topic knowledge or looking at a career transition</LI>
<LI>Project Managers</LI>
</UL>
 
<HR>
 
Trainer
Mr. Gary Man FRICS Managing Director of GCA Asset Services Limited, Member of RICS Asia Board
Mr Gary Man FRICS is the Managing Director of Greater China Asset Services, Global Business Valuation Sub- Board Member, Asia Business Valuation Committee Chairman and Asia Valuation Professional Group Member, Member of RICS Asia Board and has more than 25 years’ experience in valuation and consultancy. He has been engaged in numerous assignments covering the Asia-Pacific region, in particular in countries such as China, Taiwan and Hong Kong, Korea, Malaysia, Singapore, Vietnam, Thailand and further west to India, Kazakhstan and the Republic of the Maldives.
Gary also has academic experience. He was a visiting lecturer at the Hong Kong Polytechnic University (PolyU) lecturing on Business and Intangible Assets Valuation and other topics. In China, he has given lectures on similar subjects for the ZheJiang University in Hangzhou City. He was also invited to be the External Examiner for the MSc programme in International Real Estate (ZheJiang) for the PolyU. Gary is currently a member of the RICS Asia Board.
 
<HR>
 
Enquiry
Mr Peter Au, Business Development Manager
Tel: 2116 9719
Email: <A HREF="mailto:pau@rics.org" REL="nofollow noopener noreferrer">pau@rics.org</A>
 
 
Remarks:
<UL>
<LI>The organiser reserves the right to cancel or reschedule the training at its discretion.</LI>
<LI>No refund or cancellation will be accepted, but a substitute delegate is normally permitted. Please inform the organiser of your substitute delegate at least 5 days before the training.</LI>
<LI>If a typhoon signal no. 8 or above, or black rainstorm warning is in force at least 3 hours before the programme is scheduled to begin, the training will be postponed until further notice. Otherwise, it will continue as scheduled.</LI>
<LI>Registration will only be confirmed upon receipt of completed registration form and full payment.</LI>
<LI>Upon completion of this event, a CPD certificate will be granted. A payment receipt along with the CPD certificate will be sent to you by email with 10 business days after the training.</LI>
</UL>

Room 301, 3rd Floor

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Development Appraisals: Features and Analysis [NOV 2019]

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