VALUATION & ADVISORY SERVICES

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V A L U A T I O N

& A D V I S O R Y

S E R V I C E S

Leading Perspectives. Global Scale. Powerful Connections.

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INHERENT WITHIN

CBRE IS A

COMMITMENT

TO DELIVER

OUTSTANDING

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DELIVERING

OUTCOMES

CBRE’s highly regarded Valuation & Advisory Services (VAS) team is comprised of dedicated and experienced professionals who provide quality valuation and consulting services across a comprehensive range of property types. Utilising our industry experience, market knowledge and global scope, we are ideally positioned to help solve any valuation related real estate challenge, ranging from single asset valuations to the

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LEADING

PERSP EC TIVES

Through combining market knowledge, industry experience and proven valuations best practice, our team is able to provide comprehensive insight into the valuations sector

our team for their VAS needs, utilising our superior market knowledge, market databases, and extensive contacts and resources to determine the appropriate strategy for their business.

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G LO BAL

SC ALE

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P OW ER F U L

C O NNECTIO NS

As a leader in the Middle East Valuations market, we have worked with a variety of investment and commercial banks, corporations, superannuation funds, investors, property owners, REITs and government agencies. Our regional and global connectivity

provides direct access to a full range of industry experts and sectors worldwide, ensuring the latest in market transaction updates combined with the professional analysis from our Research offices across the globe. With the Middle East team operating under the global umbrella, we are able to provide a market leading platform to best advise our clients and ensure the preeminent client services in the industry. This enables us to provide valuation services

with a keen focus on market activity and developing trends at a local and global level, while also ensuring consistent and clear communication lines with our clients.

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OUR REGIONAL

AND GLOBAL CONNECTIVITY

PROVIDES DIRECT ACCESS

TO A FULL RANGE OF

INDUSTRY EXPERTS

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SERVICES

VALUATION

Our team provides market leading strategic advice on the valuations of properties spanning various sectors and sizes, including residential, office, industrial, retail, hotels and healthcare facilities.

The standard of our reporting is considered an industry benchmark, and is the result of a rigorous national quality assurance platform and in alignment to RICS and TAQEEM requirements. We can also assist with the development and implementation of bespoke databases for internal portfolio modelling purposes.

ADVISORY

Our highly regarded professionals specialise in advisory services and are able to play a strategic role in generating accurate and timely property advice tailored to our clients’ needs. Through best practice principles, forefront production and communication technology, we provide cost effective, commercially-based and technically-sound consultancy advice to a broad range of clients.

Aided by market leading research, we tailor advice for multiple circumstances including: take-overs and joint ventures, stock market listings, capital raising and company accounting purposes, lessor and lessee tenancy advice, insurance valuations, capital gains tax, mortgage valuations, establishing sale price or auction reserves, reviewing statutory rating assessments; and independent valuations for financial reporting under the required legislation and accounting standards.

To ensure the rationale behind advice is compatible with our clients’ targeted business outcomes, we provide independent, fully

researched and dependable quality advisory services.

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valuations to all active market participants across the broad spectrum of property types and for a range of purposes. CBRE Valuation Professionals are amongst the most highly regarded within the industry.

investors, property owners, REITs and government agencies from around the globe have used our services to satisfy their business needs. All CBRE valuations are prepared in compliance to Global, Country or Regional Standards and Regulations.

· Arbitration and Consultation · Assessment and Consulting

Services · Due Diligence · Financial Reporting

· Foreclosure and Bankruptcy Support

· Government Fair Value · Initial Public Offerings (IPOs) · Insurance - Replacement and

Indemnity

· Lease and Cost Analysis · Litigation Support

· Market Studies - High level and detailed investment analysis, feasibility studies, highest and best use

· Market Value / Fair Value · Mortgage Security · Rental Review · Taxation · Transaction Support · Business Valuations · Commercial · Data Centres · Entertainment Venues · Golf · Government Assets · Green Building · Healthcare · Hotels

· Industrial and Logistics · Land

· Leisure

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QUALITY AND RISK MANAGEMENT

CBRE Valuation & Advisory services have a

dedicated Quality and Risk Management (QRM) team that are responsible for ensuring all valuations are completed in compliance with local laws, industry standards and client requirements.

The QRM team comprises highly regarded and experienced valuations professionals as well as a dedicated administration team based across the region. Responsibilities include report reviews, management and enforcement of the Practice Area Guidelines and local addendums.

The QRM model aims to: · Minimise risk for our clients

· Guarantee compliance with the requirements of each individual bank/clients

·

each assignment

· Ensure appropriate review of each valuation is undertaken

· Provide impartiality of reporting

· Enforce rigorous internal quality assurance testing prior to the issue of each valuation ·

valuation assignments

· Streamline the valuation process

TECHNOLOGY

CBRE’s internal industry-leading technology team designs, develops and delivers our sophisticated valuation platforms including, TOPS, VIEW and our industry leading Valuations Models.

Valuation models are at the core of every

appraisal process at CBRE and ensure every asset has been assigned the right tool to meet and exceed client expectations. Commercial valuation modelling is performed using sophisticated excel based programs that have wide industry acceptance and cater for all commercial regional shopping centres.

VIEW is the global valuations powerhouse that has been developed to allow our professionals to make the most of a single centralised platform global tracking system allows for transparency and is reviewed and monitored globally for

TOPS is our proprietary valuations system utilised for both mortgage and non-mortgage valuations

through the strong track record of the Australian team.

POINT OF DIF FERENC E

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Features of TOPS include:

· Remote (on-site) data capture via tablet technology

· Live sales and rental database system

· Full residential report production from desktop to long form

· Automatic invoicing system · Secure document storage

· In-built compliance and QA checks

· Valuation management and tracking system (in real time)

· Performance reporting system · Links to third party systems

This unique and industry leading technology platform has been developed over many years and allows valuers to leverage collective insight, expertise, and vast market knowledge as well as exemplary quality control. The end result is an exceptional valuation report delivered in a timely fashion, keeping the client updated throughout the process.

RESEARCH

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TR AC K R EC OR D

BACKGROUND

Sakany by Dubai South

CBRE was tasked with providing a market value for under construction and operational assets at the date of valuation, for secured lending purposes. Dubai South set out to create a low-cost and high quality living environment to support the growth of the wider master-planned area surrounding Dubai Word Central airport and the Expo 2020 site.

CHALLENGE

The Property consists 22 staff accommodation buildings, dining hall, retail and associated leisure amenities, that on completion will accommodate 15,000 residents. Sakany by Dubai South represents a step-change in the provision of staff accommodation facilities and in the context of existing stock, Sakany proved challenging to value. Superior efficiency and amenity provision bucked the trend of existing benchmarks and KPIs for this asset class.

HOW CBRE CREATED ADVANTAGE

In order to tackle the challenges, CBRE undertook the following:

• Assign a market specialist as a single point of contact for the client and to oversee the project; • Detailed analysis of passing and asking rents, and incentives offered by competing schemes to supplement the datapoints presented by the Sakany rent roll;

• Thorough inspection to understand the accommodation and amenity provision;

• Canvassing the extensive CBRE database of investors to determine appetite for the asset class and required rates of return.

Relying on our market leading expertise, CBRE created advantage by:

• Using specialised asset data points to provide detailed analysis of competing operational assets in the local market;

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TR AC K R EC OR D

BACKGROUND

ICD Brookfield Place

CBRE was first instructed by ICD Brookfield Place Limited before excavation began for the cavernous

basement. The landmark scheme is now a LEED Platinum Certified, Grade A Commercial Building located in the Northern Precinct of Dubai International Financial Centre (DIFC), providing over a million sq. ft of leasable area across ground, podium and a total of 53 floors. That basement now provides 2,700 parking spaces and is seven storeys deep!

CHALLENGE

The Property offers unarguably the highest specification office accommodation in the DIFC and potentially the region. This presented a unique challenge in forecasting appropriate rental levels for the Property while still a development site and with no pre-leases signed. In addition to this, further challenges presented in terms of determining appropriate occupancy levels, lease-up timeline and void periods.

HOW CBRE CREATED ADVANTAGE

In order to tackle the challenges, CBRE undertook the following:

• Assign a senior team member and sub-market specialist as a single point of contact for the client and to oversee the project;

• Detailed analysis of passing and asking rents, incentives offered, and lese terms for competing schemes; • Primary research canvassing potential occupiers regarding interest levels and premium payable for an upgrade in specification and amenity;

• Analysis of in-house proprietary data regarding active space requirements for CBRE’s local and international corporate client base.

Relying on our market leading expertise, CBRE created advantage by:

Relying on our superior market knowledge of this asset class and the ability to leverage both the CBRE extensive network of agents and proprietary data, we were able to provide a fully justified and validated forecast of future income and current day value.

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M +971 52 640 9534 [email protected]

OUR TEAM

Simon Townsend FRICS

Senior Director

Head of Valuation Advisory and Consulting

Daniel McCulloch MRICS

Head of Valuation

Emily Sturgis

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