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Development Appraisals: Features and Analysis

Development appraisals are widely used by developers and valuers, but what are they, and what is included in them? This course will answer these questions.

Date:
Sat 13 Apr 2019
Time:
09:30 AM - 05:30 PM
Venue:
26/F, Wu Chung House, 213 Queen's Road East, Wanchai, Hong Kong
CPD:
6 hours CPD

Book before 22 March 2019 for the early bird discount

From
HK$3500

Overview

The trainer will detail in what situation a development appraisal is suitable, what are the key inputs, what can a development appraisal tell the valuer, and what are the pitfalls of which to be aware.

You will be introduced to the residual method of valuation, shown when it is used, and its components. The trainer will also explore developing cash flow residuals, multi-phase development appraisals and sensitivity analysis, and will consider the differences of valuing to land value or developer’s profit. At the end of the day, attendees will have a comprehensive knowledge of how a development appraisal works when employed by a development consultancy or for loan security purposes, and will be able to confidently work on appraisal projects.

The course will be delivered from the perspective of a surveyor undertaking a development appraisal for either a development consultancy or loan security purposes. The trainer will analyse the content, requirements and features of a development appraisal, and will ask delegates to complete a number of individual and group exercises. This will include delegates completing their own appraisal during the day.

Why You Should Attend?

Although development appraisals are mentioned in undergraduate courses, the level of detail required in the commercial environment is not covered, especially for multi-phase developments. This course will fill in the gaps. The course will develop individual’s ability to comprehend and consider development appraisals, identify the key drivers of value (and the risk associated), as well as prepare sensitivity analysis. All are key points required to produce professional appraisals.

Learning Objectives

After this programme, you will be able to:

  • Identify the key inputs and drivers of value;
  • Determine when a development appraisal is appropriate and what information is required
  • Define the components of a residual valuation and when it is used.
  • Appreciate what sensitivity analysis is, what it tells us, and its importance
  • Identify pitfalls to be aware off, particularly when reporting to a lender, and when working on phased developments.

Course Content

  • Why are development appraisals used? What are the associated risks?
  • What information is needed to prepare a development appraisal and where does this information come from?
  • What is sensitivity analysis and why is it used?
  • How are phased developments modelled?

Who Should Attend?

  • Newly qualified surveyors currently as either a valuation/development surveyor or client-side developer
  • Senior surveyors with limited topic knowledge or looking at a career transition
  • Project Managers

Meet the trainer

Mr Gary Man FRICS, Managing Director of GCA Asset Services Limited, Member of RICS Asia Board

Mr Gary Man FRICS is the Managing Director of Greater China Asset Services, Global Business Valuation Sub- Board Member, Asia Business Valuation Committee Chairman and Asia Valuation Professional Group Member, Member of RICS Asia Board and has more than 25 years’ experience in valuation and consultancy. He has been engaged in numerous assignments covering the Asia-Pacific region, in particular in countries such as China, Taiwan and Hong Kong, Korea, Malaysia, Singapore, Vietnam, Thailand and further west to India, Kazakhstan and the Republic of the Maldives.

Gary also has academic experience. He was a visiting lecturer at the Hong Kong Polytechnic University (PolyU) lecturing on Business and Intangible Assets Valuation and other topics. In China, he has given lectures on similar subjects for the ZheJiang University in Hangzhou City. He was also invited to be the External Examiner for the MSc programme in International Real Estate (ZheJiang) for the PolyU. Gary is currently a member of the RICS Asia Board.

Price

For enquiries or further information, please contact Mr Peter Au, RICS Business Development Manager, on +852 2116 9719 or pau@rics.org.

  • Early bird RICS Professionals
    Expires in 22 March 2019 HK$3000
  • Early bird Non-RICS Professionals
    Expires on 22 March 2019 HK$3500
  • RICS Professionals
    (Standard fee) HK$3500
  • Non-RICS Professionals
    (Standard fee) HK$4000
  • Visa

  • Mastercard

From
HK$3500