2024 World Cities Day China Main Event Series——Symposium on
"Professional Services Supporting Urban Regeneration" Held in Weihai
On the morning of October 28th, as part of the 2024 World Cities Day China main event series, China Institute of Real Estate Appraisers and Agents (herein referred to as CIREA) and Shandong Province Real Estate Association co-organized the Seminar in Weihai, Shandong province, with the theme of "Professional Services Supporting Urban Regeneration ". Dr. Chai Qiang, President of CIREA, delivered key speeches. Dr. Lin Lanyuan, President Emeritus of World Association of appraisal Organisations (WAVO), President of Singapore Institute of Surveyors and appraisers; Mr. Zhao Jinquan, Cushman & Wakefield CEO of Greater China, along with representatives and experts from real estate appraisal institutions, shared insights and best practices through keynote speeches on how real estate appraisal and consulting services can effectively resolve professional challenges in urban renewal, support the implementation of urban renewal actions, and establish sustainable renewal models.
From October 26th to 31th,the 2024 World Cities Day China main event was co-hosted by the Ministry of Housing and Urban-Rural Development, People’s Government of Shandong Province, People’s Government of Shanghai, and the United Nations Human Settlements Program (UN-HABITAT) ，was held in Weihai and Shanghai with the theme of “Building People-Oriented Cities, Sharing a Better Life”. The 2024 World Cities Day China Main Event "Professional Services Supporting Urban Regeneration " Symposium, which is another important event following the successful housing rental Symposium held by CIREA last year.
Dr. Chai Qiang, President of CIREA, stated that China’s urban development has entered a critical phase of renewal. Implementing urban renewal actions is a major decision by the Central Committee and the State Council. The Ministry of Housing and Urban-Rural Development has also repeatedly emphasized promoting urban renewal. Real estate appraisal institutions and appraisers must actively participate in urban renewal actions , clearly define their roles and main responsibilities, make good use of their market knowledge, appraisal expertise, and economic analysis capabilities, to deliver top-quality appraisal and consulting services in urban renewal. CIREA will also enhance its research and compile a comprehensive, systematic guide on real estate appraisal and consulting services for urban renewal to direct and standardize related work, contributing to high-quality sustainable urban development.
Speakers discussed sustainable urban renewal models domestically and internationally, as well as requirements for appraisal and consulting services in urban renewal, how appraisal institutions can expand their services in this area, and the role& function of responsible appraisal experts in urban renewal. Dr. Lin Lanyuan and Mr. Zhao Jinquan shared examples from urban renewal in Singapore and Hong Kong, where real estate appraisers have provided critical services such as feasibility studies, regional economic utilization strategies, cost-benefit analyses, property appraisal, and advisory on upgrading, refurbishing, or redevelopment. In Mainland China, appraisal institutions have ability to meet the new high-quality urban renewal standards by offering comprehensive services throughout the project lifecycle, including policy research, planning consultation, preliminary investigations, industrial planning, and economic feasibility analysis. However, the demands for high-quality, professional, and responsible services in urban renewal are also pushing real estate appraisal towards professional service upgrades.
The Seminar speakers included Mr. Pan Shibing, Chairman of Yongyehang Land Real Estate Asset Valuation Co., Ltd.; Mr. Xu Jun, Chairman of Shanghai Liancheng Real Estate Valuation Consulting Co., Ltd.; Ms. Song Xinghui, Chairman of Shenzhen Yinglian Asset Valuation Land Real Estate Valuation Consulting Co., Ltd.; Mr. Xu Jinliang, Executive Director of Suzhou Tianyuan Land Real Estate Valuation Co., Ltd. Around 200 industry representatives, including local real estate appraisals organization leaders, executives from leading appraisals institutions, university experts, and scholars attended the seminar. Ms. Wang Xia, Vice Secretary-General of CIREA hosted the Symposium.
On the afternoon of October 28th, a continuing education training session on real estate appraisals services in urban renewal was held for further study and discussion. Mr. Ji Jianguo, Chairman of Jiangsu Tiandi Hengan Real Estate Land Asset Valuation Co., Ltd.; Mr. Wang Zhuo, General Manager of the Relink Platform and Executive Director of Worldlink Asset Real Estate Land Valuation Co., Ltd.; Ms.Yang Liyan, Chairman of Shenzhen National Housing Land Real Estate Valuation Consulting Co., Ltd., shared detailed practices and case studies on appraisals and consulting services in urban renewal.
