MARCH 2011 |
www.opp.org.uk
Nick Turner Vice President & Head of New Business Development for RCI /The Registry Collection
RCI is the largest shared ownership network in the world and a leading marketer of vacation rental properties.
Charlie Acworth Chief Operating Offi cer at Al Wa’ab City, Doha, Qatar
Charlie has more than 10 years’ senior experience of the Middle Eastern and African property development markets.
Eric Kuhne Founder, Civic Arts
Award-winning architect, researcher and designer, Eric is a tireless advocate of well-planned and inspiring cities.
Miguel Ruano Associate The Hotel Solutions Partnership
Architect and planner, Miguel is a former project developer for Marriott Vacation Club International.
Yannis Kavounis Director of Insight & Innovation The Futures Company
Yannis is Director of Insight & Innovation at The Futures Company, leading their work on consumer culture.
Margaret Wylde President and Chief Executive ProMatura Group LLP
Margaret specialises in the important and growing market of property provision for the 55+ and “care” sectors.
Charles Weston Baker Director of International Residential and Resorts Department of Savills Plc
Charles is a research expert experienced in selling property in Europe, the Middle East and the Caribbean.
Claude Attala Proprietor NorthCourse Advisory Services, Group RCI
Head of leisure consultancy at Northcourse, Claude was previously with the Qatar Tourism Authority.
Bill Clover President and Chairman Panorama International, Inc.
An experienced board member of US fi rms involved in development, marketing, fi nance and consulting.
OPP EXECUTIVE PANEL COMMENT Insight | 7
The Panel T
he overseas property industry is changing fast. It used to be about holiday
and second homes, and buyers ‘investing’ (or speculating in truth) for a fl ip to a market that didn’t exist says Mark Jeffery. Today, “housing is about housing,
not investment” and the overseas property industry is being extended to cover prime residences, the new indigenous middle classes, the vibrant territories of the high-growth BRIC countries and much more. Jeffery says he is following the
philosophy of Sam Zell, the world’s most successful real estate investor who said “housing is about housing not speculative investment” and “invest in what you know about and do NOT try to create your market.” Consequently, Jeffery says, “I am committed to being the number one conduit to the phenomena of the Brazilian new middle class and their housing needs. “In Brazil there is mass demand,
100% Government backed mortgages, 8-10 million units required and in a dynamically growing country staging the World Cup and Olympics … but immature financial markets with limited access to capital. Make no mistake. Brazil is THE opportunity.” But what do the other members of
the OPP International Executive Panel think about the year ahead? Do they agree with Mark that Latin America is the place to be? For Charles Weston Baker, the director of the international residential and resorts department at
Leadership and vision: Setting some key themes for the coming year Align your thinking with the industry’s leaders
Savills, the coming year is going to be all about strengthening the global agency’s extensive involvement in the Chinese and Far Eastern markets … as well as working on new opportunities in Saudi Arabia and India. Bill Clover, president and chairman
of Panorama International says that his business will “continue its forward path of providing a complete service to the developer, operator and investment communities in hospitality and residential development.
Mark Jeff ery Commercial Director, Flamingo Lakes Resort. Co-chair OPP IEP.
Mark is a marketeer and a founding shareholder in resort developments in Crete, Cyprus and Mexico. As a founder and co-chairman of the OPP International Executive Panel, Mark likes to discover and debate new ideas which he hopes will stimulate the industry and spark new openings.
continue this expansion.” “Finally,” Clover adds, “we
believe that the future belongs to creators. “New ideas, new methodology,
and new sources for talent, capital and inventive, creative design when mixed with Panorama’s experience and flexibility should increase our profit levels even more than in 2010.” For Nick Turner, vice president
of The Registry Collection, owned by RCI / Wyndham Worldwide, the key thing to remember this year is that whole ownership in traditional second home markets will continue to remain depressed with areas of acute oversupply such as Dubai , Spain and Cyprus suffering further value reductions. “Whole ownership second home
“We will continue the focus
of fi nance and marketing. Our geographic thrust should focus more on Africa and Central America for development, and The Middle East and Pacifi c Rim for capital. “The company is expanding
and we will continue our forward thrust to associate with the best young minds in the business, as well as relying on our 40 years in the industry and our in-depth experience in over 70 countries to
What is the OPP International Executive Panel? For me,” says OPP group editor Geoff Hadwick, “the executive panel is all about thought
leadership and mentoring. OPP has assembled a formidable line-up of industry experts with a vast wealth of experience and knowledge behind them, and their careers encompass a wide range of property roles at the highest possible level. If anyone can help you work out where the overseas property sector is going next, and give you a sense of inside track expertise ... it will be the OPP executive panel.
markets with limited supply such as Italy , France and the UK will avoid value contraction and may see slight improvements in volumes over 2010,” says Turner. “Within Europe hot spots for fractional ownership remain AAA locations where second home market entry remains high and there is a scarcity of quality product available. Tourism locations such as Tuscany, Provence, Cote Azur ,Madeira, Devon and Cornwall,” he adds. “In addition global year round
gateways will show improvements in fractional volumes such as Paris, London and New York.” “Top emerging markets for all touristic real estate classes are predictably Brazil, India, China and South East Asia.”
Geoff Hadwick Group editor
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