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Annual Review 2018-2019

Annual Review 2018-2019

134,400

RICS-qualified and trainee professionals globally

Delivering confidence

We are RICS. Everything we do is designed to effect positive change in the built and natural environments.

Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

With our growing market presence and the recognition of the RICS brand across all world regions, we are well placed to continue our evolution into a truly global profession – one which works collaboratively to provide a foundation for confident markets, pioneers better places to live and work, and is a force for positive social impact.

Our year in numbers

President's statement from Chris Brooke FRICS

This year, millions more people in search of better lives have crowded into cities. This trend is gathering speed, and the impact of this continued urbanisation activity is stretching the limits of the natural environment. By most accounts this expansion of urban living has tipped the climate into a critical new phase of emergency.

At the same time, new technologies and enhanced infrastructure provision, via approaches such as the Belt and Road Initiative, have started to connect cities...

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Chief Executive Officer's Review from Sean Tompkins

RICS' financial year 2018-19 has been a period of change, challenge and progress, all playing out in an increasingly uncertain world. While challenging, our activities have further strengthened the foundations for confident real estate markets, helped pioneer better environments, and demonstrated RICS' thought leadership as a leading force for positive social impact.

I am pleased to report RICS has delivered confidence this year against...

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Positive Social Impact

We have been working collaboratively to maximise the opportunities and overcome the challenges of urbanisation, the scarcity of global resources and climate change to help build resilient, successful communities, pioneer better environments and create better places and spaces for future generations.

World Built Environment Forum Summit 2019

We continue to research, design and deliver lifelong learning and development that advances innovation in the built and natural environment while also providing diverse and accessible pathways into the profession.

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Pioneering better environments

Whether as a single practitioner or within a global firm, RICS professionals’ work can positively influence levels of resource use, emissions and waste generation.

Our responsible, evidence-based approach helps reduce corruption and improve labour practices. The RICS Research Trust has published a series of authoritative papers based on case studies from across the world. They create a foundation for influencing policy and gaining recognition for our standards and qualifications. 

The RICS Research Trust's prize-winning paper on Permitted Development Rights (PDR) was cited by the UK government in reaching its decision to review PDR policy, as referenced in Parliament and widely covered in the media.

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Land and human prosperity

Many of today's challenges – conflicts, climate change, rapid urbanisation, gender equality, increased demand for natural resources – are linked to land administration, land tenure and equitable land acquisition.

Secure title offers a way out of poverty and can help reduce inequalities between countries. Which is why we led efforts to develop the International Land Measurement Standard (ILMS), published in May 2019. It can be adopted systematically and used in all markets, whether they have a functioning Land Information System (LIS) or not. ILMS advances transparency and supports reporting systems such as the International Finance Reporting Standards (IFRS).

2018 RICS UK Project of the Year: Woodberry Down, Finsbury Park, London

The RICS UK Project of the Year Award 2018 was won by the Woodberry Down redevelopment in Finsbury Park, London

RICS judges said that the Woodberry Down project team – Berkeley Homes and Hawkins Brown – had regenerated the area with integrity and a genuine desire to improve not just the physical environment but also residents' economic aspirations and social wellbeing.

Professional progression

We continue to research, design and deliver lifelong learning and development that advances innovation in the built and natural environment while also providing diverse and accessible pathways into the profession.

Our global programme of conferences, seminars, training and networking opportunities enable RICS members to stay at the forefront of their profession. Furthermore, the RICS Awards showcase and recognise inspirational initiatives and developments in land, real estate, construction and infrastructure.

To date, we have delivered more than 1,000 events, seminars, conferences and networking events addressing topics including: the Assessment of Professional Competence (APC); building surveying; dilapidations; ethics; property management; quantity surveying; and valuation.

2018 RICS Young Apprentice Surveyor of the Year: Uwais Paderwala MRICS

After gaining a first-class degree and passing his APC, Uwais Paderwala MRICS became RICS' youngest-ever qualified chartered surveyor. He is currently a Project Quantity Surveyor at Gardiner & Theobald.

Global Standards

From fire safety to anti-corruption, RICS has established itself as a trusted worldwide professional benchmark.

We continue to prioritise the development and enforcement of leading international standards, which protect consumers and businesses and ensure the utmost level of professionalism is employed across the built and natural environment. Our standards for the profession continue to be adopted in the major economies of the world by governments and end users.

Through our responsible, evidence-based approach and our extensive knowledge of the built and natural environment around the world, we continue to influence policy and give expert advice to public bodies and decision makers, enabling confident investment, trade and economies.

International Construction Measurement Standards (ICMS)

Ken Creighton, Director of Professional Standards at RICS, chairs the ICMS coalition– a growing global partnership committed to producing and supporting one shared standard for benchmarking and reporting of both capital and whole life project costs.

ICMS could save billions of dollars in international investment by providing a structure for consistently capturing data and cost reporting. The strong global adoption of the standard will extend to the whole project life cycle as a way of cost reporting for portfolios, programmes and projects around the world through the ICMS second edition.

From Red Book and International Valuation Standards (IVS), to ICMS, Facility Management Professional Statement and recognition of RICS qualifications, our standards continue to be adopted around the world by organisations, governments and end users, which include:

Shenzhen World Union Appraisal Co. Ltd
State Grid Corporation of China
PWC
Agenzia del Demanio
The Ministry of Finance in Greece
The Technical Chamber of Greece (TEE-TCG)
The Banco de Portugal
AENA
Caixa Bank
Hong Kong Land Department
Qatar's Ministry of Municipality and Environments
The Qatar International Centre for Conciliation & Arbitration
The Government of Bahrain

Credito Agricola
John Lewis
Network Rail
Legal and General Surveying Services
Nationwide Building Society
The UK Green Building Council
The Cyprus Land Registry
The Ministry of Finance in Trinidad & Tobago

Data from the RICS Global Commercial Property Monitor is used by the ECB and is available for internal use by the European System of Central Banks providing insights on developments in commercial real markets across the EU and assisting in managing risks around financial stability.

 

Mitigating climate change

Our work with the Global Alliance for Buildings and Construction has seen the International Property Measurement Standards (IPMS) included in the UN's toolkit for estimating greenhouse gas emissions based on energy use by floorspace, while the European Union has made draft recommendations to incorporate IPMS within its sustainable finance guidance.

We are also regularly invited to speak about sustainable energy and green finance at high-level international policy events, where we are able to promote our guidance on embodied carbon.

Promoting market transparency

To help the profession identify and manage risks that exist in the profession, we published a professional statement: RICS Countering bribery, corruption, money laundering and terrorist financing.

In addition, The European Central Bank (ECB) and several national central banks in Europe and Asia Pacific use data from our Commercial Property and Residential Market surveys to manage threats to financial stability. We also collaborated with other influential policy bodies including The Organisation for Economic Co-operation and Development (OECD) and The International Finance Corporation (IFC), who invited us to join the steering group of its Market Accelerator for Green Construction programme.

Defining fire safety regulations

We led a global coalition of 57 organisations working to classify and define International Fire Safety Standards (IFSS) across the world at project, state, national, regional and international levels.

Diversity and Inclusion

We continue to support and promote diversity and equality as we believe they are critical to the success of our organisation and to the future of our profession. Furthermore, diverse workplaces result in more profitable companies, have greater market attractiveness and enhance their corporate reputation.

Supporting talent and promoting diversity to create an inclusive, empowered profession

The future of our profession depends on our ability to attract, develop and retain diverse talent.

We continue to focus on diversity of all kinds – from social background and sexuality to gender, ethnicity and physical ability. Our wide-ranging work has inspired future generations – and while there's still more to do, we're heading in the right direction. Importantly, we recognise the need for diversity and the challenge before us. We remain committed to promoting the full spectrum of diverse talent for our profession.

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Inspiring the next generation

Our UK Inspire workshops encourage young talent into work placements and to adopt a career in the profession.

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Narrowing the gender gap

We continue to collaborate with firms to identify the best way to attract women into the profession and ensure that they remain with us throughout their working life.

RICS Chief Executive Sean Tompkins was named as an Agent of Change by Management Today magazine and the Women's Business Council. Sean was recognised for his leadership in both championing women at RICS and his advocacy for greater female representation in chartered surveying around the world.

Pride Month 2019

Worldwide, our employees were given rainbow lanyards to show support for LGBTQ+ colleagues and members, while the rainbow flag flew outside the London RICS headquarters.

Employees joined Pride marches in Birmingham, London and Manchester, alongside representatives of the cities' LGBTQ+ communities. We also recorded a series of videos, speaking to LGBTQ+ professionals in our industry. And we published a special edition of our Diversity Matters newsletter, which included resources for LGBTQ+ surveyors and details of a discussion event we held in partnership with Freehold earlier in the year.

 

 

 

 

Building for the Future

In line with our aim to effect positive change in the built and natural environments, we are committed to collaborating with others and remaining future-focused. This allows us to ensure that our profession evolves and adapts to the industry's biggest challenges. We're working to make sure that, as an organisation and a profession, we continue to be fit for the future.

Our Futures programme

Through extensive engagement with industry stakeholders, our Futures programme investigated the drivers of change for our profession. From technology and big data, to climate change, urbanisation and skills, our work has provided a platform for the evolution and development of the sector to help it respond to rapid disruption. In 2020, the programme will focus on three areas: sustainability; data and technology; and talent and skills.

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Bringing our governance into the 21st century

We are always considering how best to lead and support the profession in the years to come.

To secure our future as a self-regulating profession that's trusted to set and enforce standards for the public good, we've chosen to modernise our governance structure. These reforms will help improve our effectiveness and our impact, and members will benefit from agile decision-making about RICS's future.

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Important changes

In November 2018, a special resolution was proposed by the Governing Council to amend the RICS Royal Charter and byelaws in order to establish a governance structure fit for a 21st-century professional body.

Voter turnout was 11% and 86% voted in favour of the following changes.

  1. The creation of 15 elected geographical seats, six elected strategy seats, and four officer seats for the President, President Elect, Senior Vice President, and the newly created position of Chair of Governing Council.
  2. Formation of a new joint Standards and Regulation Board under an independent chair – so that RICS standard setting is subject to the same independent scrutiny as our assurance and enforcement functions.
  3. Renaming of the Conduct and Appeals Committee to become the RICS Regulatory Tribunal, to better reflect its important role.

Where we are now

Her Majesty the Queen and Privy Council approved the changes in March and implementation is underway, including recruitment to the position of Chair of Governing Council, elections for the 15 new Governing Council market seats, appointment of the Chair of the Standards and Regulation Board and recruitment of members of that Board.

Our full annual review, including corporate governance and group revenue analysis, will be published soon.

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