2nd Real Estate Industry Meeting

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Program

Thursday, February 25, 2016

08:30 - 09:00Welcome and Registration
09:00 - 09:15 INTRODUCTION
 • Prof. José Luis Suárez, Academic Director of the Meeting, IESE Business School
• Santiago Aguirre Gil de Biedma, Chairman, Aguirre Newman
• Ignacio Martos, Chairman and CEO, Tinsa
09:15 - 10:30FINANCIAL SOURCES FOR THE REAL ESTATE ACTIVITY
Stockholder's Equity: What are the requirements for a developer to be listed on stock exchange markets? Analysis of the SOCIMIs (the Spanish REITs)
Corporate debt: bond issues and other financial tools. Alternative real estate financial sources in addition to the bank loans (debt fund, insurance companies, etc.)

• Santiago Bau, Executive Director, Goldman Sachs
• Simon Blaxland, CEO, Uro Property
• Borja Fernández Espejel, Chief Financial & Strategy Officer, Metrovacesa
• Hermann Montenegro, CEO, AXA Real Estate Iberica

Moderator: Prof. Jorge Soley, IESE Business School
10:30 - 11:45INVESTMENT MARKETS AND “FUNDAMENTALS” OF REAL ESTATE SECTOR. ANTICIPATION OR DISCONNECTION?
The majority of current real estate investment includes a provision of significant improvement in “fundamentals”: rise on effective rent, fall in unemployment rate, etc. Is it a sign of good timing management, investment at the right time, or a mere effect of liquidity abundance?
Where are we currently in the commercial real estate investment cycle?

What are the common problems for the foreign investors in Spain?

What is the national investor's view?

Is the investment typology changing? Core vs opportunist investors

• Juan José Brugera, Chairman, Inmobiliaria Colonial, S.A.
• John Carrafiell, Founder & Partner London, Green Oak
• Ismael Clemente, Executive Chairman & CEO, Merlin Properties SOCIMI
• Borja Goday, Country Head for Spain and Portugal, Managing Director, Patrizia Immobilien AG

Moderator: Susana Rodríguez, Partner, Consultancy Manager, Aguirre Newman
11:45 - 12:15 Coffee Break 
12:15 - 13:30IMMEDIATE FUTURE RESIDENTIAL REAL ESTATE DEVELOPMENT
Path to normality. How to activate the sector. Big developers vs. Small developers. Real estate renting challenge. Requirements for its stimulation: favourable regulation (for example: big trading cost), taxation system, financing…
Where are we in bank financing?

• Juan Antonio Gómez-Pintado, Chairman, Vía Célere and President, ASPRIMA and APCE
• Luis Martínez Muñoz, Head of Residential Construction Lending, Santander España
• Concha Osácar, Founder and Member of the Board, Azora
• Juan Velayos, CEO, Neinor

Moderator: Prof. José Luis Suárez, IESE Business School
13:30 - 14:45HOW CHANGES IN LIFE HABITS AFFECT REAL ESTATE ASSESTS
Citizens are modifying their work, leisure and consumer habits. Is this a threat or an opportunity for real estate investment? What are the main trends? What are the best adaptation strategies? Big data

• Pedro Díaz Yuste, Industry Head, Finance Vertical, Google Spain
• Juan Carlos Fernández, Senior Regional Director South Europe, HomeAway
• Luis Pereda, Executive Chairman, Grupo Lar

Moderator: Ignacio Martos, Presidente Ejecutivo, Tinsa
14:45 - 16:00Lunch
16:00 - 17:15CITY'S RESPONSE AND ITS INCREASING IMPORTANCE
The urbanization process is unstoppable. Cities will play a key part in people's welfare. Cities must adapt to achieve their role in a changing environment.
Restoration. Smart cities

• Ezequiel Dominguez Lucena, General Coordinator, Planning, Urban Development and Transportation, Madrid City Council
• Concepción Gamarra, Mayor, Logroño Council and Vicepresident, RECI (Spanish Network for Smart Cities)
• Carlos Lamela, CEO, Estudio Lamela
• José Mª López Cerezo, Manager Housing Municipal Institute, Malaga Council

Moderator: Prof. Carles Vergara, IESE Business School
17:15 - 17:30Closing session
 • Mario Garcés Sanagustín, Viceminister, Ministry of Development
• Prof. José Luis Suárez, Academic Director of the Meeting, IESE Business School  

Contact 

IESE Industry Meetings
Lourdes Bosch

Date and Venue

February 25, 2016

IESE Madrid
Camino del Cerro del Águila, 3
28023 Madrid

How to get to IESE Madrid

Language

The conference languages are English and Spanish. Simultaneous translation will be provided into both languages.