Services 1 We see Value Services Hong Kong 2017
Services 2 Services A trusted advisor for your real estate valuation and consultancy requirements JLL s Services team provides professional valuation and property consultancy advice to suit your real estate needs. We have over 40 years experience in property valuation and advisory in Hong Kong, having offered these services since the 1970s. team has a proven track record in working with both local and multinational clients, in Hong Kong and across the Asia Pacific region. We can provide you with sophisticated and impartial valuation and consultancy advice in strategic planning, initial public offering, sales and disposal, financial reporting, and finance and capital raising. Services Monitor and review your real estate portfolio to recommend space requirements, strategic disposals or potential redevelopments. Independent valuation advice and expert advice on real estaterelated legal disputes and proceedings, representation in courts and arbitration negotiations. for investment funds and trusts in portfolio management and strategic longterm investment planning with our proficient appraisals and critical analyses. Advice on town planning, lease modifications, resumptions and acquisitions. Verbal value indication and reporting to assist in your mortgage lending and financing decisions. Single point of contact to meet your regional property valuation needs. coverage extends to the PRC, Macau, Taiwan, Vietnam, Philippines, South Korea and beyond. Feasibility studies, market research and advice on development projects to unlock the potential value inherent in your real estate. Provide due diligence support in your real estate acquisitions and disposals by assessing property asset values to ensure smooth transaction processes.
Services 3 Key Personnel Chun Kong Lau International Director Head of Services Rita Wong International Director Cliff Tse Director Dorothy Chow Director Alkan Au Director Qualifications Members of our team hold professional qualifications with the following organisations: The Hong Kong Institute of Surveyors Royal Institution of Chartered Surveyors China Institute of Real Estate Appraisers and Agents Australian Property Institute CFA Institute Estate Agents Authority JLL is a regulated firm under the RICS Valuer Registration system. Key Drivers of Success Market best practices Professionalism Good client relationships Valueadded services Extensive market knowledge More than 70 employees (More than 20 in PRC) About 50% qualified professionals
Services 4 Performance Highlights Over 3,000 assignments in 2016 valued at more than USD 200B. Listed on virtually every financial institution s panel of valuers in Hong Kong. Provided acquisition support or asset valuation to five out of the eight logistics sites / developments in Hong Kong s Kwai Tsing Container Terminal Area. Market leader in the modern logistics warehouse sector, valuing over 70% of the market share, or 160 million sf across 50 cities in China. Conducted more than 20 valuation and consultancy projects for the URA over the past 10 years. Provided valuation and consultancy services to 50% of the REIT vehicles in Hong Kong. ed a REIT in Hong Kong to acquire its first development site in Hong Kong at a land premium of HK$5.86 billion; the second largest government tender in 2015 in terms of value. Active participant in enhancing market valuation standards. team members have participated in and / or drafted the following: 1. 2. 3. 4. 5. 6. 7. 8. Code on Real Estate Trusts, Securities and Futures Commission of Hong Kong Practical Guide for the Application to the President of the HKIS for the Appointment of an Independent Expert Working Group for Guidance Notes on of Development, HKIS General Practice Division, Council Member, HKIS QSD & AIQS Joint Conference RICS HKIS Joint Conference Policy Panel, HKIS Task Force on Supply Software We utilise comprehensive ARGUS Enterprise software to conduct cash flow analysis, allowing us to comply with industry standards across projects and work flows. We also capitalise on inhouse valuation models and a comprehensive database of building profiles and registered transactions dating back to 1988. Professional Indemnity and Accreditation Quality Assurance System: ISO Accreditation For more information: Chun Kong Lau MRICS, FHKIS, RPS (GP) International Director & Head of Services chunkong.lau@ap.jll.com +852 2846 5501
Services 5 Fully utilise your real estate resources by monitoring their changing value The Services team seeks to review owners and occupiers properties to assess their value, longterm space requirements, strategic sale and leaseback potentials. services enable companies to derive full utilisation of their property resources via regular monitoring of their assets value and by investigating alternatives for improved returns. We endeavour to innovate new ways of creating growth and take pride in discovering the unseen value of assets. Services for Accounting Purposes To help you meet your statutory and financial reporting requirements. and Services To review your property resources in areas including occupational costs, leasing, relocation and disposal strategy. Alternative Use Appraisal To identify the market potential of alternative uses of your assets, and to assess changes in property value caused by adjustments in market conditions and government policies and legislation. To conduct highest and best use analysis, including conversion, redevelopment, renovation, disposal, and sale and leaseback strategies. Financing Raising To assist you in making your investments with support in capital raising. For more information: Dorothy Chow BSc (Hons), MSc, MRICS, MHKIS, RPS (GP) Director dorothy.chow@ap.jll.com +852 2846 5517
Services 6 and Litigation & Litigation Expert advice for real estate negotiations and legal proceedings / arbitration The team draws on JLL s high standards of professionalism and integrity to provide expert advice on real estaterelated negotiations and legal proceedings / arbitration. team represents landlords, tenants, developers, and other real estate stakeholders. We have worked closely with a number of world s reputable law firms, including Baker & McKenzie, Deacons, Hogan Lovells and Norton Rose Fulbright. Services Rent Review To represent landlords or tenants in rent review and lease renewal cases. We advise on analysis and interpretations of leases (including rental determination mechanism), and comparable evidence. valuations may be used for such purposes as decision making, negotiations, and submissions to independent experts for determination of rentals under lease. Litigation To provide rental and/or capital value assessments for court/tribunal submissions, including cases relating to sales and purchases, Chapter 545 (Compulsory Sale for Redevelopment) Ordinance and Chapter 352 Partition Ordinance. To act as expert witnesses in courts and/or tribunals and to provide professional input on real estate matters in dispute. We liaise with solicitors, counsels and other professionals (including experts appointed by the other parties in the dispute). Taxation To assist owners and occupiers in handling stamp duty and rating appeals with relevant tax and assessment authorities. Where a court determination is deemed appropriate, we provide proof of evidence reports and act as expert witnesses in court and/or tribunal hearings. For more information: Chun Kong Lau MRICS, FHKIS, RPS (GP) International Director & Head of Services chunkong.lau@ap.jll.com +852 2846 5501
Services 7 and Fund & Fund ing business strategies JLL provide real estate support to investment funds and trusts for the management of their portfolios and in making acquisition and disposal decisions. We coordinate specialist teams within our firm to provide a onestop service ranging from acquisitions and disposals, technical due diligence, market research, asset management, and valuation and financial reporting. ed by our indepth understanding of the real estate fund sector, the team utilises inhouse valuation models and ARGUS software to produce timely results. Clients 5 out of 10 REITs listed on the Hong Kong Stock Exchange, amounting to approximately 70% of the total Hong Kong REIT market capitalisation of HKD190.6B, as of September 2015 Crossborders funds across the region Services for Accounting Purposes To act as an external valuer to provide interim and annual portfolio valuations for financial statement purposes. Feasibility Studies To conduct indepth feasibility studies of your properties to discover potential value enhancement opportunities. We assist you in developing business strategies, as well as decisionmaking on asset acquisitions and disposals, supported by market value assessments, cash flow analysis, market research, due diligence exercises and compliance checks. Fund Raising To assist you in making your investments, with support in capital raising and identifying opportunities. We conduct ongoing reviews on your fund s performance and advise on potential capital structure alternatives. For more information: Dorothy Chow BSc (Hons), MSc, MRICS, MHKIS, RPS (GP) Director dorothy.chow@ap.jll.com +852 2846 5517
Services 8 Enhancing land owners and developers real estate investments The Services team assists owners and developers in identifying and unlocking the potential values inherent in land. We draw on our extensive experience and knowledge of the latest developments in regulations, policies and practices, to deliver consistently high results. We are experienced in advising landlords and developers from both the private and public sectors, which has allowed our team to develop insight into complex land matters. Services Lease Modification and Town Planning A change of use can enhance the value of some properties. We offer professional assistance in producing submissions to government departments and authorities to facilitate development of your real estate. Lease modification and land exchange applications Town planning applications Waiver applications Assessment and negotiation of premium, waiver fees, or shortterm tenancy rentals Premium arbitrations Shortterm tenancy applications Resumption and Acquisition To provide transactional support for potential acquisitions, to assess compensation due to resumptions, and to assist you in submitting claims to the s Department, Urban Renewal Authority and other authorities. Identification of heads of claims Review of title documents in alignment with latest government policies Assessment of business losses and other disturbances Assessment of market value to support acquisition decisions or offers Representation of claimants in meetings with government or other officials Preparation of submissions to the s Tribunal and act as an expert witness in court or tribunal hearings for determination Formulation of acquisition strategies Coordination with external consultants throughout applications
Services 9 Case Study Client: Urban Renewal Authority (URA) Project: Kwun Tong Town Centre (Project K7) The largest single project undertaken by the Urban Renewal Authority (URA). The proposed redevelopment scheme comprised residential and commercial use, together with government, institution or community facilities. The total site area covered by the scheme is about 570,000 sf and is expected to deliver a total floor area of about 4,306,000 sf. This includes 2,260,000 sf for commercial use, 1,722,000 sf for residential and 344,000 sf for government / institution / community purposes. Services and Results: Prepared valuation reports of all nondomestic and singleowner property interests in the thenexisting buildings. within the redevelopment scheme, upon which the URA s acquisition offers were based. Reviewed counter submissions from consultants acting on behalf of property interests owners. Conducted negotiations with the owners and their representatives. Provided valuation advice to the URA in relation to the acquisition offers and counteroffers. The URA made good progress in acquiring property interests within the Scheme. The URA obtained the whole site in September 2014 and foundation works commenced in April 2015. Clients Clearwater Bay Limited Goldin Group Goodman Hanison Construction Holdings Limited Henderson Development Shui On Group Urban Renewal Authority Several international schools in Hong Kong For more information: Chun Kong Lau MRICS, FHKIS, RPS (GP) International Director & Head of Services chunkong.lau@ap.jll.com +852 2846 5501 Dorothy Chow BSc (Hons), MSc, MRICS, MHKIS, RPS (GP) Director dorothy.chow@ap.jll.com +852 2846 5517
Services 10 Swift appraisal of all property types for financing purposes Services team provides tailormade valuation services to banks or financial institutions regarding financing for real estate assets. experienced valuers deliver instant verbal value indications and provide further information to facilitate clients financing decisions. The team handles hundreds of verbal enquires from banks daily and processes a vast volume of instructions, producing property valuation and short form reports for mortgage financing purposes. Inhouse database of over 8,000 building brochures and millions of transaction records. Swift value indications based on our market intelligence and statistical observations. More than 4,000 valuation reports annually. Clients Services Verbal indication ABN Amro Bank Bank of China (Hong Kong) Bank of Communications Citibank Credit Suisse DBS Hang Seng Bank HSBC HSBC Private Bank The Bank of East Asia Standard Chartered Bank UBS AG Instructions for valuation report Property inspections Sectors Market research Comparables analysis Office Industrial Residential Retail Report preparation valuation reports are tailored to different banks internal procedures and specific requirements. In addition to market value, we provide market value valuations with reference to specific assumptions and conditions such as Value for Sale under Repossession and Building Insurance Replacement Cost assessments upon request. For more information: Cliff Tse BSc (Hons), MRICS, FHKIS, RPS (GP) Director cliff.tse@ap.jll.com +852 2846 5557
Services 11 Integrated services across Asia Pacific paired with indepth local expertise Services team has over 40 years of valuation and advisory experience in the Asia Pacific Region. With our base in Greater China, the PRC is our key focus, covering over 30 cities. The team has developed alongside the property market in the PRC. With the increasing complexity of the property market, we keep abreast of prevailing market practices in the PRC and endeavour to be one step ahead of the market by expanding our service coverage to meet with the future needs of our clients. centralised organisation provides you with a single point of contact to meet your valuation needs, enhancing your operational efficiency and delivering crossborder consistency. We pair our extensive experience in managing and coordinating regional assignments with an indepth knowledge of the requirements, processes and deliverables demanded in individual local markets. With our extensive Asia Pacific network, our team provides regional valuation services to clients with real estate portfolios across the region. dedicated regional teams span three core regions Australasia, South East Asia and North Asia with local presence across 15 locations in Asia Pacific. Services The Services team provides a range of valuation and advisory services for local or overseas companies with investment properties or with interest to invest, locate or relocate into certain emerging markets. 15 locations in Asia Pacific Australia PRC Hong Kong SAR India Indonesia Japan Korea Macau SAR Malaysia New Zealand Singapore Taiwan Thailand The Philippines Vietnam As an overseas consultant, we offer the following professional services: s for financing and fund raising Due diligence exercises Asset valuations for financial reporting s for public listing s for acquisitions and disposals Advice on property assets for mergers and acquisitions Development consultancy Feasibility studies
Services 12 Case Studies Client: A major Asian sovereign wealth fund with a portfolio comprising a mix of office, retail, industrial and residential developments. Services and Results: Provided property valuation for over 100 properties across 10 locations including Australia, PRC, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Taiwan and Thailand, for accounting and internal reference purposes. Client: A leading property investment, management and development group, owning and managing approximately 5M sf of prime commercial space in Hong Kong and other properties across Asia. Services and Results: Business partner since 1970s. Provided ongoing valuation and advisory services for over 30 years for properties located across Cambodia, China, Hong Kong, Indonesia, Singapore, Thailand and Vietnam. Provided a broad range of professional services, including periodic valuation, general property market overview, expert analyses and independent valuation opinions. For more information: Rita Wong BBus, MRICS, MHKIS, AAPI, RPS (GP) International Director rita.wong@ap.jll.com +852 2846 5535
Services 13 Tailormade solutions to your unique real estate needs We provide bespoke advice designed to help clients understand the context in which they operate, and identify the challenges and opportunities unique to their situation. This enables them to make fullyinformed decisions in order to achieve specific goals that maximise the potential of their property. team comprises professionals with a range of property and data analytical skills, financial expertise and practical real estate experience. We deliver pragmatic strategic solutions based on our local market knowledge, with the ability to combine sound market and financial analysis with the latest research and proven practices. Services Development To conduct feasibility studies and highest and best use analysis, to form development strategies and provide recommendations on project positioning and design for property owners, developers and investors. Asset Strategy and Positioning To advise both landlords and occupiers across all real estate sectors in conducting strategic portfolio reviews and market price and rental analysis, to attain optimal results through short and long term real estate strategy, occupation and investment. Retail Working closely with retailers, property owners and developers to enhance the performance of, and add value to, an individual asset or their entire portfolio. We conduct demographical analysis, catchment and competitor analysis, benchmarking, and retailer and shopper surveys to identify opportunities and recommend on positioning, trade mix and designing strategies. Research Research consultancy services to help you understand the market and identify trends to support your real estate plans and strategies.
Services 14 Case Studies Project: Development and marketing strategy study for a site in Kai Tak (2017) Client: Nan Fung Group Provided development consultancy and marketing strategy services to facilitate the Client to develop the site into a worldclass landmark at the new Kai Tak Development Area in Hong Kong. Project: Property consultancy services of multiple sites in Hong Kong (Feb 2017 Jun 2017) Client: A financial institution Provided strategic review to maximise asset value, including review of development potentials, occupational and development options and financial assessment of recommended scenarios. Project: Expert report for the redevelopment of Queensway Plaza (2016) Client: A developer To assist the client s planning consultant in making representations in relation to the draft outline zoning plan regarding minimum retail/food and beverage provisions on the redevelopment site. Project: Feasibility study of ExLamma Quarry area on Lamma Island (July 2016 Present) Client: Jacobs China Limited Acted as subconsultant for a project commissioned by the Civil Engineering and Development Department. We ascertained the market feasibility of the development proposal, gauged market interest and suggested changes to the proposal. For more information: Jacqueline Wong BSc (Econ), MSc (RE), MHKIS, MRICS, RPS (GP) Local Director jacquelinewt.wong@ap.jll.com +852 2846 5505
Services 15 ing seamless transactions at every stage of the real estate cycle Services play a key role in the successful and timely execution of your property transactions, whether raising loans through banks or raising equity through capital markets. Potential buyers, sellers and lenders appoint us during the due diligence process to assess property asset values thoroughly and efficiently. Services Acquisition & Disposal To provide buyers and sellers with insight on market values of property interests, comment on market conditions, appraise various value determinants and identify the best option available to safeguard their assets.we partner with JLL s agency departments to arrange for disposal/acquisition of properties. Bank Financing & Loan Syndication To support banks and loan syndicates in assessing the income potential and value attributes of real estate assets. Provide tailormade valuation reports to suit individual banks and financial institutions requirements. Initial Public Offering & Privatisation To provide the credibility, knowledge and valuation resources to assist you in stock exchange procedures including IPO, restructuring, notifiable transactions, privatisation and funding. We liaise with sponsors and professional teams for the preparation of listing documents, prospectuses, and corporate circulars. Asset Backed Securitisation A pioneer and market leader in this sector, having provided asset valuations for the first five, and largest, securitisation deals in Hong Kong. The securitisation of rental cash flow creates a marketable investment in either single or multiple property interests.
Services 16 Case Studies Client: Fortune REIT Property: Kingswood Ginza Mall in Tin Shui Wai, Yuen Long, features a range of retail spaces, kindergartens, over 600 car parking spaces and ancillary spaces, totalling a gross floor area of approximately 665,000 sf. Transaction: Transacted at HKD 5.84B in October 2013, this was the largest retail property transaction by size and consideration in Hong Kong in 2013. Provided independent valuation to the client (purchaser) for the issuance of a circular under the listing requirements of the Hong Kong Stock Exchange and Singapore Exchange Security Trading Limited for public disclosure purposes. Adopted a proprietary valuation model, enabling accurate data input and efficient tenancy analysis. Provided to track major commercial transactions, performance of REITs and other listed commercial landlords, as well as rental performance and patterns of major shopping centres and commercial properties. Facilitated the completion of the acquisition. Client: A European pension fund managing pension assets of more than USD 453B as of end of June 2015. Transaction: Invested up to USD 650M for a 20% stake in a Chinese warehouse developer and operator. As of the transaction date, the developer owned 16 operating assets across China with over 14M sf of modern logistics facilities and had an additional 7.5M sf of GFA under development. Provided property valuations of the logistics property portfolio in various cities across PRC for potential investment purposes. Client: A subsidiary of a North American institutional fund which, as of June 2015, held direct or indirect interests in over 160 million sf of office, retail and logistics properties, and more than 23,000 residential units, totalling over USD 36B in assets. Transaction: Significant partnership, via an approximately USD 920M capital raising, with a leading Shanghaifocused retailanchored mixeduse projects developer, owner and operator. Portfolio includes 4.6M sf of retail and commercial space in Shanghai, and has 4.5M sf under development in 2015. Facilitated the transaction by providing property valuations of the completed and underconstruction retail properties across various cities in PRC for potential investment purposes. For more information: Rita Wong BBus, MRICS, MHKIS, AAPI, RPS (GP) International Director rita.wong@ap.jll.com +852 2846 5535
Services 17 Chun Kong Lau International Director Head of Services and REGIONAL ADVISORY (PRC FOCUSED) MORTGAGE ADVISORY HONG KONG ADVISORY STRATEGIC CONSULTING Rita Wong International Director Head Cliff Tse Director Head Dorothy Chow Director Head Jacqueline Wong Local Director Head Alkan Au Director Raymond Wong Local Director Ken Lam National Director Alex Mo Local Director Keith Lee Associate Director Eric Tsang National Director Stephen Lin Local Director Perri Yu Local Director Alvin Leung Associate Director
Services 18 jll.com.hk Company Licence No.: C003464 Jones Lang LaSalle 2017 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.