The 1999 Pacific Rim Real Estate Society (PRRES) conference was jointly hosted with the Asian Real Estate Society
(AsRES) and International Real Estate Society (IRES) and was held at the recently completed prestigious Mandarin Oriental Hotel. This is part of the KLCC development (a city within a city), which boasts other fine developments including the Petronas Twin Towers (the world's tallest building).
The conference highlighted many exciting "firsts". This was the first PRRES conference to be hosted outside of Australasia, the first IRES conference to be hosted within the Pacific Rim and the first real estate society conference to publish the papers on a CD, provided to all delegates. The forum attracted 180 registrants from 17 countries including: New Zealand, Australia, Malaysia, Singapore, China, Thailand, UK, Netherlands, Sweden, Germany, USA, Korea, Taiwan, Japan, Indonesia, and Belarus.
The opening ceremony was officiated by the Minister of Finance. Over 80 papers were presented in 27 parallel sessions (nearly half of which were refereed) providing real estate analysts, academics and practitioners the opportunity to present the results of their latest research. The session topics covered a broad spectrum of property related issues including: institutional property performance; indirect property; cycles; property law; housing market analysis; and land contamination.
The keynote address was by internationally recognised UK real estate authority Professor Andrew Baum. Professor Baum, Director and Chief Investment Officer of Henderson Real Estate Strategy, London and a professor at The University of Reading, spoke on "Changing Styles in International Real Estate Investment". A second keynote speech by World President of FIABCI (International Real Estate Federation) Anthony Grant gave an insight into the role of FIABCI.
The PPRES Annual General Meeting provided the opportunity to reflect on the years accomplishments, as well as to welcome the new President, Angelo Karantonis, thank the passed President, Sandy Bond, introduce the new Secretary, Patrick Rowland, and Treasurer, Geoff Page, and elect the President-Elect, John Loh. John Flaherty was thanked for his tremendous work since the inception of PRRES multi-tasking as Secretary/Treasurer, Newsletter and Web-master. Other matters arising at the AGM included a reminder of the future conference venues: 2000, Sydney to coincide with the Sydney 2000 Olympic Games, and a bid for 2001 in Fiji.
The social programme commenced with a welcome reception, where the birthdays of Sandy Bond and Ric Lombardo were recognised. A welcome dinner hosted by the Mayor of KL at the City Hall provided the opportunity to sample local "hawker-style" food with performers of traditional dance to entertain.
Award presentations were made during the Gala dinner:
The PRRES Achievement Award, was made to Patrick Rowland, senior lecturer in the School of Economics and Finance, Curtin University of Technology. Patrick has made a substantial contribution to the property profession, through his teaching, research and as Branch Secretary of the Royal Institute of Chartered Surveyors, but more specifically through his authorship of a major property text in Australia, and for his commitment to and involvement in
The IRES Achievement Award, was made to Professor Chau Kwong Wing, President-elect of the International Real Estate Society, and Professor in the Department of Real Estate and Construction, University of Hong Kong.
The IRES Service Award, was made to Professor Karl-Werner Schulte, passed President of the European Real Estate Society and Academic Director of the European Business School, in Germany.
Continuing the social events, a technical tour of the Petronis Twin Towers provided a birds-eye view from the 83rd floor of KL and it's surrounds. The final evening provided an opportunity to attend the FIABCI Award of Distinction Royal Banquet with the King and Queen of Malaysia.
The meeting concluded with the Property Forum, a panel of property experts from a number of the membership countries who shared experiences from their respective regions of property cycles "From Recession to Recovery to Boom Again" and the lessons that were to be learned. As Jo Albert from the US correctly stated, emphasis should be placed on avoiding a boom situation and aiming for sustainable growth.