Executivii internationali vor excelenta, romanii sunt preocupati de retentie

Mai putin de o treime dintre executivii si antreprenorii din intreaga lume se asteapta la o imbunatatire a economiei globale pana la sfarsitul acestui an.

Liderii, antreprenorii si managerii din intreaga lume vad in angajatii cu performante cea mai competitiva arma intr-un mediu economic din ce in ce mai competitiv, arata datele unui studiu realizat la nivel global de Cornerstone International Group, una dintre cele mai mari organizatii in consultanta in resurse umane la nivel mondial.

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September 30, 2008
Categories: Attitudes, Market data, People, Today a better day than tomorrow . Tags: , , . Author: Greenfield Staff . Comments: Leave a Comment

Executivi pe fast-forward

Un manager trebuie sa stea intr-o pozitie cel putin trei ani pentru a-si pune amprenta asupra businessului. Un an se obisnuieste cu compania, in al doilea an iese in fata cu o strategie proprie pe care o implementeaza si abia in al treilea an se vad efectele strategiei sale, bune sau rele. In practica, executivii de top spun mult mai usor si mai repede “adio” angajatorilor.
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September 30, 2008
Categories: Attitudes, Market data, People . Tags: , , , . Author: Greenfield Staff . Comments: Leave a Comment

Reaching the international buyer

Across the globe, despite the impact of the credit crunch, many buyers are still actively seeking opportunities in overseas property and two international magazines, Overseas Property Professional (OPP) and OPP Russia, have recently highlighted Romania as a market for agents to consider for their clients. However, the next stage for the market is for developers to work with agents to drive sales based on this interest.
Whether for investors looking to benefit from rentals or capital appreciation, second-homes buyers or those re-locating to the country, a number of developers have experienced demand from outside Romania. OPP has learnt about buyers coming from the US, Scandinavia, Germany, France, Spain, Israel, Greece and Italy, amongst others – highlighting the appeal of the market for a range of nationalities. In addition, Tibor Fuchsel, territory manager at Overseas Property Professional (OPP), feels the Russian buyer market is one that developers should seek to engage: “Russian buyers are constantly looking for new areas where they can not only invest their money but also buy something unique, Romania has so much to offer them. There is no reason Romania can’t follow the path of Bulgaria in terms of engaging the Russian buyers. Bulgaria stands at number 1 on the top list of Russian buyers.”
While good news for those developers with property to sell, this does throw up challenges in marketing to so many diverse markets.
For many developers this can seem a daunting task, requiring a re-think of their marketing activities, an understanding of how to interact with agents, and an examination of ways to teach new agents about what the Romanian market offers. However, Tibor Fuchsel, territory manager at Overseas Property Professional (OPP), says: “The shift in mindset isn’t as great as some may fear – the fundamentals of the business remain the same. You want to sell property through an intermediary and – whether you use a domestic agent, based in Romania selling to Romanians’, or an overseas agents selling to their local clients – the relationship is similar.”
This year, OPP and OPP Russia have increased coverage of the Romanian markets, to educate international agents about the opportunities their clients may be interested in. However, Fuchsel says: “To capitalise on this interest, developers also need to ensure they have dialogue with agents, and are working pro-actively to establish, and facilitate, these sales channels. Buyer interest is out there, as OPP has found, but the only way to benefit from this is to engage the companies that will bring you the buyers. OPP strives to facilitate these partnerships, and aims to provide a medium through which developers can reach agents.”

September 30, 2008
Categories: Attitudes, Economics, Investments, Market data, Real Estate Investments, Residential developments . Tags: , , , , , . Author: Greenfield Staff . Comments: 3 Comments

OPP- helping Romanian developers establish overseas networks

For many Romanian developers, selling property to overseas buyers can seem a daunting task, requiring a re-think of marketing activities and an understanding of how to interact with agents. However, in reality, the philosophies of doing business remain the same, according to Tibor Fuchsel, territory manager at Overseas Property Professional (OPP).
Fuchsel says: “The shift in mindset isn’t as great as some may fear – the fundamentals of the business remain the same. You want to sell property through an intermediary and – whether you use a domestic agent, based in Romania selling to Romanians, or an overseas agents selling to their local clients – the relationship is conducted on a similar basis.”
The only real challenge is creating relationships with overseas agents – and this is a challenge OPP is helping Romanian developers meet head-on.
Fuchsel explains: “The OPP brand incorporates two trade magazines, with related websites, and the OPPLive exhibition, where agents and developers meet to learn about new business strategies and conduct business. Using the OPP platform, developers can structure a campaign that successfully uses print, online and face-to-face marketing to reach key agents.”
A typical campaign can be structured to combine the following elements to achieve maximum results:
1) Print advertising in the monthly OPP and OPPRussia magazines to build brand awareness, credibility and trust amongst agents throughout Europe and Russia. It is recommended that campaigns run for a minimum of 3-6 months for maximum effect.
2) Online activity through direct emails and banner advertising to the largest trade database available, consisting of 56,000 agents globally and 7,000 agents specifically from Russia and the CIS, in order to drive direct response and encourage a dialogue (either prior to a face to face meeting at the OPPLive event in November or to follow up after the show).
3) Presence at OPPLive 08 exhibition. This is an opportunity to meet with over 3,000 key agents face-to-face at a 2 day event in London on the 25 and 26 November. The conference and exhibition will allow you to solidify relationships, train agents on selling your development, network with top professionals and attend a range of conferences that will educate you and your team on all elements of marketing and selling your development to an international audience.
Fuchsel concludes: “Despite current economic conditions across the world, there are still many people looking to buy property in new markets. The key is ensuring they know what you offer – and the most direct way to ensure this is to establish an international agent network to do the selling and marketing for you.”

September 30, 2008
Categories: Attitudes, Investments, Market data, Real Estate Investments . Tags: , , , , , , . Author: Greenfield Staff . Comments: Leave a Comment

UAE EMIRATE BANS FOREIGN ESTATE AGENTS FROM RUNNING AN AGENCY

Only UAE and GCC nationals will be allowed to hold a license for real estate offices in the UAE Emirate of Ras Al Khaimah, according to a new law enacted by Sheikh Saud bin Saqr Al Qasimi, crown prince and deputy ruler of the Emirate.

Citing resolution number 32 for 2008 on executive regulations of real estate agencies, Al Qasimi said: “The license holder should run the business by himself or by a kin or a partner. He is not allowed to lease the license to any other person.”

A banking guarantee worth AED300,000 (€60,000) will be required if the office’s scope of business includes selling, buying and brokerage of land and property.

If an office leases land and properties, the banking guarantee will be AED100,000 (€20,000), while if an agency performs both the functions above, it will be required to deposit a guarantee of AED400,000 (€80,000).

The law also sets the percentage of commission these offices should get in return of their services, terms and conditions of licensing real estate offices, their responsibilities and duties as well as legal liability. Source: OPP

September 23, 2008
Categories: Market data . Tags: , , . Author: Greenfield Staff . Comments: Leave a Comment

DEMAND GROWS FOR REMORTGAGING SERVICES

As the strength of the Pound falls against the Euro and economic conditions worsen in the UK and Ireland, more products are being released to facilitate the repatriation of funds from an overseas property back to the respective countries.
 
Zero per cent introductory margins, the first 100% LTV mortgage products, improved interest only terms and Euro mortgages that track the traditionally lower Libor CHF index, are just some of the examples of the new products available.
 
“We are seeing a significant increase in the number of clients who are looking at the refinancing options available in many overseas markets so that they can take advantage of the current £/€ exchange rates,” explained Fiona Watts, MD of International Private Finance, a UK-based International mortgage broker. “What’s more, with the recent launch of our online mortgage best buy tables it is even easier for individuals to keep an eye the most competitive mortgage products available, particularly as people look to take advantage of lenders promotional rates aimed at stimulating the market.”

Spanish-based mortgage broker Capital Financial Partners has just launched its new remortgage product for those that paid cash for their property in Turkey.

This product offers up to 50% LTV for a maximum of 10 years at an annual interest rate of 6.96%.

Patrick Kavanagh, corporate director of CFP, said: “This will be of great benefit to those who are now in need of some extra cash due to the increased affects of the credit crunch at home in the UK and Ireland. Property buyers can benefit from having more money now and paying this back over a short period of time, at the best interest rate available in Turkey.”

Assetz Finance has also recorded a 50% increase in enquiries regarding cash raising mortgages on European property this year and has launched a remortgaging service to handle the demand.

“While interest rates have risen in Europe and borrowing is no longer available at 3-4% as it has been in the past, most European lenders are still doing business as normal and have not tightened their lending criteria,” explained Katy Hepworth, overseas mortgage manager at Assetz Finance. “They are in a position to continue lending whilst their UK and US counterparts are severely restricted, and British holiday home owners are beginning to take advantage of this opportunity.”
 
In Ireland, Dublin-based mortgage broker ACAP, which is authorised by the Financial Regulator, said yesterday it had linked up with 350 international banks and can arrange up to 60% – 80% remortgages on properties in Spain, Portugal, France, Germany, the UK, the Caribbean, Dubai, Cape Verde and Italy. It claims it is the first and only mortgage intermediary to offer this service on foreign property to Irish owners.

“This is a very cost effective way to access capital and is of particular interest to people who simply need cash, or those who want to benefit from the lower interest rates in foreign countries to offset more expensive borrowings in Ireland,” said a spokesperson. Source: OPP

September 23, 2008
Categories: Market data . Tags: , , , , . Author: Greenfield Staff . Comments: Leave a Comment

GREEN PROJECTS GAIN MOMENTUM IN EUROPE

A spate of eco-friendly developments have been scheduled for construction as the international second homes industry reacts to changing buying patterns across the world.

The latest company to do so is developer Willbrook Management International which has announced its intentions to develop Diamond Residences, a 144-apartment eco-resort in Varna, Bulgaria, featuring a spa, health club, restaurants and energy saving air and lighting services at a cost of €40million.

Daiana Voicu, Willbrook’s executive director, said that the company has several other green projects scheduled and plans to build a further 3,000,000 sqm of residential development at a cost of €6billion over the next few years.

The construction of a new eco-friendly residential holiday resort located in the mountain village of Ribaritsa, Bulgaria has also been announced with work on the project to start at the end of this year.

Construction firm Tenbul Ltd, the Bulgarian arm of Tenerife firm Interbul, will develop the Kostina Village, which, according to the Stroitelstvo gradut weekly, will be situated on a 5,000 sqm plot featuring 13 residential units at a total cost of €1.5million. Delivery of the project, located in the health spa tourism region, is scheduled for 2010.

Meanwhile, Israeli investors Tidhar Group and Asim Real Estate in partnership with Bulgarian Investment Group, are collaborating on an eco-project called Razlog Village All Seasons Nature Resort.

Construction is set to begin on the €250million, 150,000 sqm development in 2009, with the project functioning by 2012.

The directors of the project said that recycled water will be used across the 1,500 apart-hotels and villas with just 20% of the project’s total area given over to roads and concrete. It will comprise of a luxury hotel with a casino, spa hotel and a resort hotel within a gated complex.

In neighbouring Romania, Carpatia Resorts, a US-based international developer, has completed its land acquisition for the Carpatia Resorts and Conference Centre, a luxury eco-resort in the Cuicas Mountains area of Romania’s Transylvania region.

Described as the “largest scale mountain resort possible in Europe”, by Robert Dasy of international eco-design firm WATG, the project’s key attractions will include 5-star hotels, a grand casino, Romania’s largest conference centre, a medical health centre, a modern spa and treatment centre, an extensive and varied dining and shopping district, a state-of-the-art ski lodge, a high-tech arcade and fun centre, an indoor water park, a sports entertainment complex, and a concert hall with supporting offices.

Mediterranean developer Greek Dreams is currently developing two eco-friendly projects in West Crete and South Evia. The €18.5million developments feature 14 five-bedroom properties complete with an ‘eco-pool’.

“The ‘greening’ of the world’s economy is underway and the real estate industry is taking note,” said Panos Skliamis, the firm’s investor relations manager. Stathis Kanterakis, CEO of Greek Dreams, added: “Green buildings are part of the modern future, they are physically and economically possible, so we have no excuse for not doing it.

Industry reacts to change in construction
As developers continue to build more and more eco-friendly properties, the industry is working to provide experienced agents to sell this type of property.

Eco-broker, the world’s largest environmental training organisation for international estate agents, signed its 4,000th member last month, coinciding with its fifth anniversary in service.

Officially founded in 2002, EcoBroker has become the world’s biggest body on agent eco-issues and training and now has over 4,000 members across the five Canadian provinces, Mexico, Costa Rica, the Caribbean, and New Zealand.

“EcoBroker is truly the pioneer in the green training space and has paved the way for the industry over now more than half a decade, bringing the need for green real estate education to the forefront of the real estate market,” said EcoBroker’s CEO, Dr John Beldock. “Our membership growth and recent competition are testaments to the quality of our curriculum and the exceptional customer service we provide to the benefit of real estate professionals, consumers, and the environment.”

Overseas property consultancy Colliers International said in a recent report that it believes more and more developers will build eco-friendly projects as this type of construction was slightly more expensive than traditional building methods, but would be easier to sell and command higher prices from buyers.

In response, it has launched the Regional Initiative for Sustainability and the Environment (RISE), which will train all of its agents in south east Europe on how to sell green property and what the benefits are for this construction class. Source: OPP

September 23, 2008
Categories: Market data . Tags: , , . Author: Greenfield Staff . Comments: 4 Comments

DEMAND CONTINUES TO OUTSTRIP SUPPLY IN BUCHAREST

Despite forward progress in the Romanian property industry, supply problems still persist in Bucharest, however the gap is closing according to CEE analyst REAS, which examined over 220 residential projects in July to compile its report.

Releasing its findings earlier this month, it found that just over 2,500 apartments and houses were delivered in the Romanian capital in 2007, in contrast to Warsaw, for example, which recorded 15,700 new apartments coming on the market during the same period.

REAS added that a further 6,000 -8,000 apartments should hit the market by 2010 as off-plan projects come to completion but, despite this, demand still outweighs supply as just 48,000 apartments have been
delivered since 1990, averaging 2,600 units per year.

Aside from international interest, REAS said that strong population growth in the capital, which registered 15,000 marriages last year, and a growing mortgage market meant that a severe strain is being placed on its infrastructure to cope with demand.

According to the National Union of Notaries Public in Romania, 249,792 real estate sales transactions were concluded in Q1 2008, up from the 227,235 recorded in Q1 2007, and as many as 520,714 contracts were signed for the whole of 2007 – compared to 486,151 in 2006.

Outside interest
As demand issues continue to dog the Bucharest and greater Romanian sector, several international companies are setting up operations and building new projects in the country to facilitate its growth.

Portuguese developer Plusvag has recently broken ground on its €250m mixed-use development in Ploiesti, Southern Romania. Due for completion by 2012, the 101.63 ha site will contain one of the country’s largest shopping malls, retail space and residential units.

Martinsa Fadesa Romania has also started work on its Bonnire Community City project, which will contain 7,600 residential units distributed across 22 buildings. The first phase of the project includes 1,650 apartments, surrounded by green spaces, children’s playgrounds and commercial premises. Some 449,885 sqm will also be build into offices and contain hotels, education centres and public infrastructure.
Martinsa Fadesa Romania also plans to develop a further 3,400 units across Serbanesti, Stefan Cel Mare, Margineni and Marasesti in the near future.

“Romania is a strategic market due to its economic growth and the increased purchase capacity of its population in the last few years which has driven private investment in real estate and the interest of foreign investors in the country,” explained a spokesperson. “In the context of this economic peak, the real estate market is going under an expansion without precedent and is turning Romania into a European country with more possibility of development and growth.” Source: OPP

September 23, 2008
Categories: Market data . Tags: , , . Author: Greenfield Staff . Comments: 1 Comment

GOLF GENERATES €53BN FOR EMEA ECONOMIES

The game of golf is an enterprise now worth more than €50billion a year in Europe, the Middle East and Africa (EMEA), according to a study from KPMG Golf Advisory Practice, launched at The Ryder Cup yesterday.

Although golf in the EMEA region is about one-third the size of the US industry, it is growing fast, especially in golf tourism and real estate.

According to KPMG’s research, these key sectors now account for almost half of the game’s total revenue. Real estate is the number-one money earner, bringing in almost €19billion, which outstrips the total cash generated on-course from green fees, memberships and sponsorship and attracts five times more investment than golf courses themselves.

The report found that in 2006, more than 160 new golf courses and almost 100 major course expansion projects were underway across the EMEA, producing 17,000 new villas, houses and apartments and generating a total of €18.8billion. Buyers are also prepared to pay up to a 30% premium on a property located in a golf community or golf resort.

To help drive sales during the credit crunch, the master agent of the Desert Springs Golf Resort in Almeria, southern Spain, is holding an open day on November 5 to encourage agents to sell its properties.

Open for inspection will be the apartments, townhouses, cottages, villas and country houses available for sale and agents will be able to learn about the ‘100% extra commission’ deal offered by the developer’s principal agent in northern Europe, the Cheltenham-based Almanzora Group. Until the end of this year the firm is offering a commission of 12% on selected properties for reservations confirmed by December 31, 2008.

Prices start at €233,000 for an apartment, rising to €2.5million and more than 300 units have been sold so far. The developer, the Almanzora Bay Group is currently working on new phases of the 750 ha project.

Further north on the Costa Daurada, the developer of Bonmont golf and residential community, the Med Group, has launched a golfing academy on site to help train new players and to attract potential buyers. The company also plans to launch a scholarship scheme with select public schools across the UK as part of its brand awareness campaign.

“We are proud to boast such a renowned golf course and it is tribute to the facilities we have at Bonmont that the decision was made to base the academy here,” said managing director Jesus Abellan. “All those participating in the tutoring packages will be able to sample the superb properties we have for sale, all of which overlook this stunning course and make it one of the most popular destinations for people wanting to invest in property abroad.”

September 23, 2008
Categories: Market data . Tags: , , . Author: Greenfield Staff . Comments: Leave a Comment

NEW RUSSIAN TRADE/CONSUMER EXHIBITION SET FOR 2009

Homebuyer Events Ltd and parent company Expomedia Group plc have agreed a formal partnership with PFI Events Ltd to organise and promote a major combined B2B and B2C property event in the summer of 2009.

The four day event – due to take place from 28th-31st May 2009 at Moscow’s leading venue, Expocentre – will be open to both the public and professionals. Educational content such as seminars, workshops and debates will be trade focused for the first two days and investor-centric on days three and four.

“Many of our clients have wanted to penetrate the Russian market which has not been impacted in the same way by the credit crunch as elsewhere, but they have been wary or unsure how to do so,” said Nick Clark, managing director of Homebuyer Events Ltd. “This partnership is a marriage made in heaven and our combined resources and knowledge will ensure we deliver a superior event to those currently on offer.”

Interest in forming partnerships with Russian agents has become one of the talking points of the industry in the last six months as Russian buyer activity has intensified.

Xavier Wiggins, CEO of PFI Media – the company behind OPPLive, OPP Magazine and OPP Russia – said this interest is due to the country’s continued economic growth. “The increase in widespread distribution of wealth means that the ranks of the middle class will swell from the 30million now to nearly 75million by 2020 and incomes are predicted to rise by a staggering 150% between 2006 and 2010 according to Russia’s Economics Ministry,” he said. “With Russians becoming better educated about property, and both visas and mortgage finance making more destinations accessible, they have become far more adventurous and are buying globally. This is creating tremendous new opportunities for international developers as well as agents in Russia and the CIS.”

Local sales, marketing and operational activities will be managed by Expomedia Group’s Russian subsidiary, EME Russia, which has an established and professional team of over 170 exhibition and conference industry experts.

“We are delighted to be launching this new show in Russia where we have an established and experienced team of industry professionals who will be able to work very closely with local contacts and guide exhibitors and visitors through the process efficiently and effectively, ensuring they gain the maximum from their participation,” commented Mark Shashoua, CEO Expomedia Group. Source: OPP

September 23, 2008
Categories: Events, Market data . Tags: , . Author: Greenfield Staff . Comments: Leave a Comment

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