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Excellence in Real Estate
Research and Education
NewsREAL
ISSN: 1793-7426
A Bi-Annual Newsletter of the Department of Real Estate | OCTOBER 2008 | Vol. 1 No. 2
Head’s Message
Welcome to the second issue of
NewsREAL, the bi-yearly newsletter
of the NUS Department of Real
Estate. Besides the regular updates
on staff and student activities and
achievements, there are 5 items
in this issue which I would like to
highlight. The first is the front-page
news of Professor Deng Yongheng’s
joining NUS in January 2009. Prof
Deng is recognized as amongst
the world’s top talent in real estate
finance and his coming onboard will
certainly boost the Department’s
international standing as well as
elevate our research. Recruitment of
best people has always been one of
the Department’s key strategies and
it will remain so as we continue to
attract global talent.
The second is the report on the
three committees and panel. At
the Department level, we have the
Department Consultative Committee
comprising key leaders of the real
estate industry who are also our
alumni and introduced in our last
issue. At the School level, we have
the School Advisory Committee
with two of the members being Mr
Simon Cheong, Chairman and CEO
of SC Global Developments Ltd,
and Mr Wen Khai Meng, CEO of
Capitaland Commercial Ltd, as well
as the International Advisory Panel
with Professor Robert Edelstein
from the University of California,
Berkeley as the real estate member.
These committees’ and panel’s main
purpose is to advise the Department
and School on our strategies for
future growth and development.
This will help to ensure not only
sound governance but also enhance
our profile both locally as well as
internationally.
The third item is the event highlights
of BEMA, the Department’s alumni
body, and BEM Society (BEMS), the
Department’s student body. Both are
our stakeholders and it is one of our
key strategies to further strengthen
our connection with them.
The fourth item is the introduction
of the Institute of Real Estate
Studies (IRES), which now replaces
the former Centre for Real Estate
Studies (CRES). As a university
level institute IRES would have more
resources to spearhead our research
efforts in our strategic pursuit to be
recognized as the leading global real
estate hub in Asia. And last but not
least, an academic institution makes
its name through the programmes it
has to offer.
We are currently undergoing a
curriculum review of the BSc (Real
Estate) programme as well as
studying the options for higher
degree coursework programmes
besides the existing MSc (Real
Estate) programme. Going forward,
the Department does have its hands
full with several strategic goals to be
achieved over the next few years.
We certainly need, and look forward
to, the support and encouragement
of our alumni and friends.
Assoc Prof Yu Shi Ming
Head, Dept of Real Estate
Top Real Estate
Finance Professor
Joins DRE
Dr Deng Yongheng will be
joining the Department
of Real Estate, School of
Design and Environment
as a full Professor in
January 2009. Dr Deng
is Professor and Director
of Doctoral Programme
at University of Southern
California. Dr Deng is a
Fellow of Homer Hoyt
Institute for Advanced
Real Estate Studies, Fellow
of the Royal Institution
of Chartered Surveyors
(FRICS), and recipient
of the Homer Hoyt Best
Ph.D. Dissertation Award. He has published his
research on the topics of mortgage and real estate
capital market in Econometrica; Journal of Money,
Credit and Banking; Real Estate Economics;
Journal of Real Estate Finance and Economics;
and Regional Science and Urban Economics. One
of his research papers on mortgage prepayment
behaviour has been ranked number one most cited
works in the fields of real estate finance and urban
economics by Real Estate Economics. Dr Deng
is currently on the editorial board of Real Estate
Economics and Journal of Real Estate Finance
and Economics. Prior to joining USC, Dr Deng
served as an Expert and Economist in the Office
of Federal Housing Enterprise Oversight (OFHEO)
– a financial regulator overseeing Fannie Mae and
Freddie Mac – in Washington DC., and was a PostDoctorial Research Fellow at The Wharton School
of the University of Pennsylvania. He holds a Ph.D.
in Economics from the University of California at
Berkeley.
He will also be taking up the post of the Director
of the Institute of Real Estate Studies to spearhead
cross-disciplinary research.
2 NewsREAL October 2008
International Advisory Panel
The School of Design and Environment has set up an
International Advisory Panel (IAP) comprising three eminent
professors and a renowned architect (local member).
The members of the IAP are:
Chairman: Prof Douglas Kelbaugh (University of Michigan)
Members: Prof Miroslaw Skibniewski (University of Maryland)
Prof Robert Edelstein (University of California, Berkeley)
Dr Liu Thai Ker (RSP Architects Planners & Engineers PL)
The School hosted the visit of the IAP from 22-24 September
2008. The members of the IAP met faculty members,
students, alumni and industry representatives, and senior
management of SDE and
NUS during the visit. The IAP
members were led on tours
of facilities and an exhibition
of the works of faculty
and students of SDE. The
Panel members gained a
better understanding of
the School to enable them
to make suggestions/
recommendations
for
the School’s next phase
Prof Heng Chye Kiang presented a
token of appreciation to Prof Robert
of development.
Edelstein, the real estate member of
the panel.
Back row, from left: A/P Tham Kwok Wai (HoD, Building), A/P Wong Yunn Chii (HoD, Architecture), Prof Heng Chye Kiang (Dean), A/P Yu
Shi Ming (HoD, Real Estate), A/P Bobby Wong (Vice Dean-Research), Prof Cheong Hin Fatt and A/P Willie Tan (Vice Dean-Academic)
Front row, from left: Dr Liu Thai Ker, Prof Douglas Kelbaugh, Prof Robert Edelstein and Prof Miroslaw Skibniewski
School Advisory Committee
The University set up an Advisory Board Committee for
the School of Design and Environment in June 2008. The
members of the Advisory Committee are:
Chairman: Mr Chan Sui Him (Chairman, DP Architects Pte Ltd)
Members: Mr Tan Kok Hiang
(Principal Partner, Forum Architects)
Mr Kong Mun Kwong
(Deputy Chairman, Cathay Organisation Pte Ltd)
Mr Seah Choo Meng
(Executive Chairman, Davis Langdon & Seah Singapore Pte Ltd)
Mr Simon Cheong
(Chairman and CEO, SC Global Developments Ltd)
Mr Wen Khai Meng
(Chief Executive Officer, CapitaLand Commercial Ltd)
The SAC is tasked with the responsibility of guiding the
School in its strategic development and formulation of
future goals for achieving academic excellence, relevance
to industry and international eminence; and advising the
Provost on any other relevant policy matters pertaining to the
academic pursuits in design and environment at the National
University of Singapore. The first meeting was held on 16
September 2008.
Mr Simon Cheong and Mr Wen Khai Meng are the Real Estate
representatives.
(Left)
Mr Wen Khai Meng,
Chief Executive
Officer of CapitaLand
Commercial Ltd
(Right)
Mr Simon Cheong,
Chairman and CEO,
SC Global
Developments Ltd
Department Consultative Committee - 2nd Meeting
The Department Consultative Committee (DCC) comprising
Mr Chia Ngiang Hong (Chairman), Ms Chong Siak Ching, Ms
Pauline Goh, Mr Pua Seck Guan and Ms Tan Poh Hong met for
the second time on 22 August 2008. The Department took the
opportunity to seek the Committee’s views on the BSc (Real
Estate) curriculum review, the introduction of an internship
module, “Corporate Management Training Programme”,
proposed MSc (Real Estate Finance) programme as well as a
new name for the graduate programme by research. The DCC
had a detailed discussion on the issues, and evaluated the
various options that were suggested by the Department.
October 2008
NewsREAL 3
Staff Achievements
1
2
3
4
5
6
1 Dr Kwame Addae-Dapaah
• His paper entitled “Value Property Premium: Is it Riskier?”
presented at the 24th Annual American Real Estate (ARES)
Meeting in Florida, USA in April 2008, has won an ARES
prize for best paper in the Office Buildings/ Office Parks
category. The paper is co-authored with Prof Paul Asabere
(Temple University) and Mervyn Yip Zhi Yuan.
• He is the recipient of the prestigious International Real
Estate Society (IRES) Achievement Award for 2008. Each
year, IRES present this prestigious award to a real estate
academic who has made an outstanding contribution
to real estate research, education and practice at the
international level.
• Appointed as a visiting fellow by Lincoln Institute, Center
for Urban Development and Land Policy, Peking
University, from 2008 to 2009.
• Selected as an Outstanding Reviewer at the Emerald
Literati Network Awards for Excellence 2008. The award
recognizes the impressive and significant contribution he
has made as a Reviewer to Journal of Property
Investment & Finance throughout 2007.
3 Dr Muhammad Faishal Ibrahim
5 Assoc. Prof Harold Tan
• His paper entitled “Brand Personality of Shopping DistrictsExploring the Orchard Belt and Marina Centre Shopping
Districts in Singapore” presented at the 24th Annual
American Real Estate (ARES) Meeting in Florida, USA in
April 2008 has won an ARES prize for best paper in the
retail category. The paper is co-authored with Larissa Lim
Pei Ching.
• Appointed to the Board of Advisors of Global Search
Partners, an international executive search company.
2 Assoc. Prof Fu Yuming
• Invited as Panellist at Pre-U Seminar 2008: Global City:
Home for all, in May 2008.
4 Assoc. Prof Joseph Ooi
• His paper entitled “An Analysis of the Financing Decisions
of REITs: The Role of Market Timing and Target Leverage”
presented at the 24th Annual American Real Estate
Society (ARES) Meeting in Florida, USA in April 2008 has
won the manuscript prize for best paper in the Real Estate
Finance category. The paper is co-authored with Prof Ong
Seow Eng and Li Lin.
6 Assoc. Prof Zhu Jieming
• Invited as Juror, Baietan Urban Design Competition by
Guangzhou Planning Bureau, in April 2008.
• Invited as keynote speaker, 2008 International Forum on
Urban Development and Planning, Beijing, 19-21 June
2008, by Vice Minister, Ministry of Housing and Urban Rural Development, China.
• Invited to be adjunct Professor by the School of
Architecture and Civil Engineering, Xiamen University
Chia for 3 years (2008-2011) to conduct planning research.
INSTITUTE OF REAL ESTATE STUDIES
In recognition of NUS’ strength in real estate related
research and the value of such research for both the
financial industry and urban economic policies, the
university established the Institute of Real Estate Studies
(IRES) in 2007 to lead and support multidisciplinary
endeavour in real estate related research. The Department
of Real Estate (DRE), in collaboration with other NUS
faculties, is driving the development of IRES. Professor
John Glascock, who was visiting NUS from University
of Cambridge, served as Director of IRES from July
2007 to June 2008. Professor Glascock helped to steer
IRES’ collaboration with the government to develop a
benchmark private residential price index in Singapore.
IRES has supported NUS faculties in recruiting top scholars
in real estate related areas, including Dr. Qian Wenlan, who
joined NUS Business School in July 2008 after completing
her PhD at UC Berkeley in the area of real estate finance.
DRE, together with NUS Business School, has successfully
recruited Professor Deng Yongheng, a world-class real
estate finance scholar, to join NUS from University of
Southern California. Professor Deng will take the post
of IRES Director from January 2009. In the meantime,
Associate Professor Fu Yuming serves as Acting Director.
4 NewsREAL October 2008
R e s e a r c h
P r o j e c t
An Assessment of the uniqueness and strategic
contributions of leading real estate companies
This report examines a range of performance indicators
to identify the unique contribution of selected leading
(successful) real estate companies to their shareholders and
the real estate industry in Asia, Europe and North America.
countries and regions, but differ in degree and in some cases
the influence works in the opposite direction. This indicates
a potential gain in portfolio diversification across the global
real estate markets.
In investigating the risk-return, correlation characteristics
and conditional volatilities of global real estate securities
markets, we note that the global teal estate securities market
has developed significantly over the last decade, both in the
market capitalization and the number of listed companies,
and is set to continue to grow. A number of valuable and
statistically significant findings are produced including
the differential risk-adjusted performance across different
markets, the influence of country-specific risk on excess real
estate securities returns, time varying correlation between
the markets and conditional volatilities, and portfolio
diversification. These findings have economic motivations
concerning the potential integration of international real
estate securities markets and the possibility of including
information on changing risk-return performance,
correlations and volatilities to design more optimal portfolios
for international real estate securities.
We analyze the business strategy profile of the global
real estate companies based on their “CORE” and
“GEOGRAPHICAL” concentration and investigated the
strategy / strategies that caused superior financial and
stock market performance. Our results suggest that the
stock market assessment regarding the diversification
strategy adopted by real estate companies can be probably
different from non-real estate firms documented in the
mainstream finance literature. Specifically, business
diversification strategies (instead of a “focus” strategy)
might well be positively associated with better abnormal
return performance. We attribute this change to the REIT
factor and that many real estate securities markets are no
longer dominated by real estate companies. As a result
of increasing competition from REITS, 50% of the real
estate companies undertake both property investment
and development in order to increase the diversity of their
source of revenue. In addition, more and more real estate
companies have built up an international (cross-border)
portfolio that helps diversify risk. This combination of
business strategy / strategies can possibly result in superior
stock market investment performance in the long term.
More studies are required to confirm this issue.
We find that leading real estate companies (i.e. with positive
JI and above-average SI performances) are generally of
larger size and command attractive market valuation relative
to their underlying book value. They are usually profitable
and are likely to take advantage of positive financial leverage
effects, contributing to higher SGR and profitable growth
in the longer term. Moreover, the financial variables that
influence successful performance are largely similar for all
Finally, this study documents some case evidence
regarding the business strategies pursued by some leading
real estate companies in maximizing their corporate
performance. From the brief reviews, there is some clear
evidence that an increasing number of leading real estate
companies have taken on a “unique” business model that
combines traditional development and business activities,
both domestic and overseas, as well as a fee-based real
estate fund management activities. This change has been
prompted by the increasing threats brought by
the development and maturing of an additional
securitized real estate investment product,
that is, real estate investment trusts (REITs),
in many Western and Asian markets that
were traditionally dominated by real estate
companies. From the internal perspective,
it further appears that periodic review of
business models by corporate management,
especially relating to questions of “asset
light versus asset right”, “focus versus
diversified” and “traditional versus
contemporary models”, is important in
ensuring the firm is always in its correct
strategic business direction!
Principal investigator:
Assoc. Prof Liow Kim Hiang
Collaborator:
Assoc. Prof David Ho Kim Hin
October 2008
NewsREAL 5
Report from
Real Estate
Career Centre
Department of Real Estate (DRE) organises the Real Estate
Internship Programme (REIP) for our third year undergraduate
students to encourage our students to gain work experience
during their long vacation from May to August each year.
This year about 20 firms took part in the REIP to offer about
70 places for our students. The firms include real estate
development companies such as Capitaland, Keppel Land
and City Developments, consultancy firms such as Jones
Lang LaSalle, Knight Frank, Colliers, Savills and Cushman &
Wakefield, and real estate fund management companies such
as Alpha Investments and Pacific Star.
As a number of third year students were overseas on student
exchange programmes, this year’s REIP was made available
to second year students to take advantage of what would
normally be reserved for third year students. Many firms were
supportive and willing to accommodate them.
As part of the REIP, various lecturers from our department were
assigned as teacher-mentors to check on the progress of the
students during their 2 – 3 month internship with the companies
to which they were assigned, and advise them on work issues
and how to benefit fully from the internship experience. Our
staff met with the students during the internship period to
obtain feedback from the students about what they learned
and the kind of projects that were assigned to the students
as part of their internship. The teacher-mentors also obtained
comments and suggestions from the host companies about
how the students were progressing in their work in these
companies.
All the students who took part in REIP reported that they
learned a lot about the practical aspects of working in various
job functions in the real estate industry. They said they now
have a better appreciation of the professionalism required
of them when they graduate and are grateful to the various
firms which hosted them. We are fully appreciative of all the
firms that supported our REIP by offering opportunities in their
companies for our students to gain work experience.
Plans are currently underway to prepare for the Real Estate
Career Fair (RECF) 2009 which is scheduled for the first two
weeks of semester two which starts on 12th January 2009.
We shall work with various real estate companies who are
the key employers of our graduates, to help them fill up
positions in their companies. We had excellent support from
top companies such as Capitaland, Keppel Land, Ascendas,
GIC, Jones Lang LaSalle, CB Richard Ellis, Colliers, Savills,
Cushman & Wakefield, DTZ and CB Richard Ellis, amongst
others, during the 2008 RECF.
Despite the current financial crisis, we believe that many
companies will continue to participate in the RECF as it is a
useful platform for them to spot talents amongst our students
and to recruit them early. It is also an avenue for them to carry
out effective branding and recognition of their company as well
as initiate various dialogues and contacts with our students
and staff during the career talks.
We are also working with student societies such as the Building
& Estate Management Society (BEMS) and SDE Club to
organise a series of skill enhancement talks such as Interview
Skills, CV writing, Professional Grooming and Presentation
Skills to further improve the abilities of our students.
Visitors hosted by Department of Real Estate
Professor Walter Torous
He is the founding director of
the Ziman Center for Real Estate
and Professor of Finance at
UCLA Anderson. He visited the
department on 19 September
2008 at the invitation of the Head
of Department. Prof Torous met
faculty and students during a tea
session. Prof Torous is planning
to come to NUS in 2009 for a
year’s sabbatical.
Professor Lu Wei
He is the Director of the Institute
of Economics and Social
Forecasting, Academy of Social
Science, Tianjin University of
Science and Technology. He
visited the Department from
10 - 21 August 2008. Prof Lu
presented a seminar paper
entitled: “Tianjin Eco City - An
Introduction”.
Assoc. Professor Soliman
Abdullah Hamad Al
Mohawis
The Department hosted
the visit of Prof Soliman
from King Fahd University
of Petroleum and Minerals
(KFUPM), Saudi Arabia. He
came here on research and
for an academic exchange.
Mr Abdul Hassan
The Department
hosted the visit of
Mr Abdul Hassan
from the University
of South Pacific, Fiji.
The purpose of the
visit was to carry out
research for his PhD
thesis.
6 NewsREAL October 2008
Student Achievements and Activities
NUS Student Achievement Awards 2008
The Team Red Dot, comprising three
students from Business School and
three students from Department of
Real Estate, Lim Wenjie (Captain),
Cheok Shan Min Charmaine and Yip
Zhi Yuan Mervyn, has won the NUS
Student Achievement Awards 2008
(Enterprise & other competitions
Category). The award ceremony will be
held on Friday, 31 October 2008, 7pm at
Sheraton Towers. This award is a fitting
recognition of the team’s championship
win at the 3rd annual undergraduate
real estate case competition organized
by the Marshall School of Business at
University of Southern California, from
14 -18 April 2008.
Building & Estate Management Society
On 19 March 2008, the Building & Estate
Management Society (BEMS) organized
a site visit to Surbana Corporation
Pte Ltd at Jalan Bukit Merah. There
was a good turnout of students from
both Project & Facilities Management
and Real Estate. The HR department
of Surbana International Project
Management was very hospitable
towards us. The visit included a guided
tour of the various departments of
Surbana Corporation, and a briefing
which gave us insight into the working
culture of the company. After the
office tour, we went to a construction
site in Queenstown 21 where Surbana
International Project Management
gave us an overview of how a project
management company handles the
construction of a HDB estate. This
was a beneficial experience for most
students as it was their first visit to an
actual construction site.
Design & Environment
(DE) Club
A warm welcome back to yet another
academic year in NUS; and to all
freshmen: welcome to university
life and to the School of Design &
Environment (SDE) family. DE Club
has planned a whole line up of social
activities/events for all students of
SDE for the 2008/09 academic year
to ensure that everyone has a right
mix of studying and fun. After all, life
in a tertiary institute is not all about
the books – It is also about acquiring
soft skills, networking and learning
how to deal/cope with pleasant and
difficult peers, which are necessary
for our future working life. DE Club’s
social events provide the fora for you
to passively (and subconsciously)
learn and/acquire these invaluable
life skills. Here is a breakdown of our
activities and events by semester:
Semester 1
• Inter Faculty Games • Night Cycling
• Movie Under the Stars • Beach Day
• DE Club Retreat • Exam Tea Packs
Semester 2
• SDE Bash
• Chinese New Year Buffet Dinner
• Valentine’s Day
• SDE Dinner and Dance
• SDE Day
• Youth Expedition Project
• Sports Cell Initiatives
• Exam Tea Packs
Freshmen Projects
(Weeks -1 & 0 of 2009/10)
BEMS’ 39th Management Committee
for 2008/08 has planned a number of
activities for both Project & Facilities
Management (PFM) and Real Estate
(RE) students. These activities include:
1. Talks – Building and real estate
professionals will be invited to
share their experiences with
students to prepare students for the
working life;
2. Site visits to companies in the
construction industry;
3. Workshops on CV writing, grooming
and etiquette at interviews and
workplace;
4. Joint activities with Building &
Estate Management Alumni
(BEMA), e.g. sporting activities and
professional seminars.
Furthermore,
BEM
Society
will
organize Real Estate Career Fair 2009
for Real Estate students, and a career
talk for Building/Project & Facilities
Management students. This annual
event provides excellent opportunities
for students to interact with potential
employers who use the fair both to
market their companies and recruit
“suitable”
candidates
for
their
companies.
For enquiries about these activities,
contact Lim Kah Hong, President of
Real Estate Standing Committee at
kahhong.lim@nus.edu.sg.
Lim Kah Hong, Albert
President, 2008/09 BEMS
• SDE Freshmen Social Camp
• SDE Orientation Week
• SDE Rag and Flag
Everyone in SDE is very welcome to
join in these events and activities!
Please keep a lookout for the publicity
posters that will be all over the
school (as the events draw nearer) for
details on how to sign up! With your
continued support, we hope to make
this year another memorable and
successful one for DE Club.
PS. Please check our blog at
justbreakid.blogspot.com for the
latest updates, news and gossips in
SDE!
Eugene Lee
President, DE Club’s 19th
Management Committee
October 2008
NewsREAL 7
BEMA .... 16 years on
BEMA was established in 1993 to form
a central body for its members who
are graduates from the Departments
of Building and Real Estate and its
predecessor departments.
It aims
to facilitate networking among its
members to build a Professional,
Cohesive
and
Strong
BEMA
community.
As an alumni organization, BEMA
organizes sports and social events
such as an annual golf tournament
and regular movie outings to promote
networking among its members.
Furthermore a visit was recently
organized to the Asia Pacific Brewery.
BEMA has been organizing professional
seminars over the past ten years to
enhance the professional knowledge of
its members. These seminars, about 40
in number since their inception, cover a
wide range of topics including: Global
Investment, WSH and Building Control
Act, Building Defects, Water Seepages
and FengShui, etc. A BCA-BEMA Joint
Seminar on ‘Green Buildings – Design,
Maintenance and Retrofitting’ has been
planned for 27 November 2008 at the
BCA Academy.
alumni development programmes. In
2007, BEMA donated S$50,000 towards
the building of the new alumni house
at the Kent Ridge campus.
All members are encouraged to
maintain their links with BEMA
by updating their latest contact
information. They could do so by emailing to secretariat1@bema.org.sg.
Details of BEMA events are also
available at www.bema.org.sg.
Being one of the most active alumni
organizations, BEMA has contributed
towards the development of NUS and its
NUS-DRE Research Student Alumni Network Launch
With an established reputation for
excellence in real estate research,
the Department of Real Estate has
been offering the Graduate Research
Programme (both Master’s and PhD
degrees) since 1985. About 70 students
have successfully graduated from
the programme. Most of them have
either taken up managerial positions
in reputable real estate companies
(such as GIC Real Estate International
China, Shanghai Real Estate Group,
CapitaLand and Al Salam Bank) or
become faculty members of reputable
universities (such as Southwestern
University of Finance and Economics,
Renmin University of China, The
University of Auckland Business
School and Sun Yat-sen University).
After
graduation,
our
research
degree alumni continue learn from
the experiences of those with whom
they keep in touch. With the launch
of NUS-DRE Research student alumni
network, the alumni can more easily
connect both with the university
and with fellow graduates. The
Department is indebted to Ms Han Yin
Hua (who obtained a Master’s degree by
research in 2003) for the formation of the
network. So far, more than 50 alumni are
connected through the network.
If you want to have a list of our alumni
contacts, please contact Ms. Zainab
(zainab@nus.edu.sg). If you know any
alumnus who is not on the list, kindly
ask him/her to send his/her particulars
to Ms. Zainab.
Alumni (ex-research students) and staff at Asia Real Estate Conference, Shanghai, July 2008.
From left: Li Lin, Li Yun, He Chun Xing, Mao Zhi, Tu Yong (staff), Yu Shi Ming (HoD),
He Xi Xia, Dong Zhi, Sing Tien Foo (staff) and Fan Gang Zhi.
8 NewsREAL October 2008
UPDATES
Post Doctoral Fellow
Dr Li Pei joined the department as a post doctoral research
fellow in August 2008. He obtained his PhD from Renmin
University, Beijing, China in 2008. He will conduct independent
research in the area of urban and real estate economics.
Summer Programme 2008
The summer programme for 2007/08, led by Assoc Prof Yu
Shi Ming (Head of the Department of Real Estate) and Assoc
Prof David Ho Kim Hin, took place in Hong Kong, Macau
and Shenzhen from 31 May to 7 June 2008. The 30 student
participants were exposed to two intensive weeks of seminars,
lectures, discussion and research methodology to prepare
them for the field trip. There were two guest lectures by Dr
Boaz Boon (Senior Vice President of Research of CapitaLand
Ltd) and Mr Jeremy Choy (Managing Director of MacQuarie
Global Property Advisors Ltd). The participants visited,
among others, The Hong Kong Polytechnic University, The
University of Hong Kong, Shenzhen Real Estate Research
Public Lectures Series
A total of five DRE Public Lectures
have been organised since the
beginning of the year. These serve
as effective channels of professional
education, knowledge sharing and
interaction with major experts in
the local real estate industry and
respected individuals from abroad.
Attendance has been relatively
high at about 100 people per talk.
The attendees include real estate
undergraduates, postgraduates,
research students, industry
professionals and the public. Topics
are concerned with real estate
finance, investment, market analysis
and development in the local and
international context.
Centre, Sino Land/Sino Group, ING Real Estate Investment
Management (Asia), Goldman Sachs (Asia), The University
of Macau and the Venetian IR, where they were briefed on
various aspects of real estate business in these regions. The
students were required to keep personal journals to log their
learning experiences during the field trip.
BCA - Built Environment Scholarship
The BCA – Built Environment Scholarship scheme represents
the concerted efforts of the Building and Construction
Authority (BCA) and leading developers/consultants to offer
young people of high calibre and vision an opportunity to
take up the challenge of a career in the Built Environment.
Capitaland, Frasers Centrepoint and Keppel Land, collaborated
with BCA for the first time this year to offer the scholarships.
This year, Ms He Yun, Real Estate Year 1 undergraduate, was
awarded a BCA - Built Environment Scholarship.
No.
Date
Speaker
Designation
Organisation
Title
1
25-Feb-08
Professor George
Earl
Head of Bond University
Mirvac School of
Sustainable Development
Bond University
Sustainability and Real Estate
Development Allies of the Future
2
12-Mar-08
Mr Ho Mun Wai
Chief (Sports Knowledge
& Futures)
Singapore Sports
Council
Sports -Opportunities for the
Real Estate!”
3
26-Mar-08
Mr Jonathan Yap
CEO India Funds
Ascendas Property Fund The Potential & Challenges of the
Trustee Pte Ltd
Real Estate Funds Business
4
25-Jun-08
Mr Lijian Chen
Managing Director
UBS Global Asset
Head of Global Real Estate Management
- Greater China
Challenges of Real Estate
Investments In Asia
5
24-Sep-08
Professor Graeme
Newell
Professor of Property
Investment
International Property
Investment : The Expanding Role
for Asia
University of Western
Sydney
For those who are interested to be
on our mailing list, please contact
Kamsinah at rstki@nus.edu.sg
For Feedback & Enquiries: contact Ms Zainab at zainab@nus.edu.sg or 6516 6635
Editorial Team
Dr Addae-Dapaah, Kwame
Choo Tyng Tyng
Rebecca Er
Zainab Abdul Ghani
Kamariyah Ahmat Yusop
Yvonne Yong
Department of Real Estate
National University of Singapore
4 Architecture Drive Singapore 117566
Tel: +65 6516 1932 Fax: +65 6774 8684
Website: www.rst.nus.edu.sg
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