megavideolinks
Joined: 19 Nov 2011
Posts: 273
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 Posted: Wed Nov 23, 2011 3:42 am Post subject: STATUS OF CREM |
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The current situation of companies requires a group-wide adoption of responsibility for the
real estate management. In this process the following tendencies can be observed:
The globalization of the markets provides increasing competition pressure associated with
a growing influence of the financial markets on the management (Keyword: Shareholder
Value Management).
- According to a regulation of the European Commission of 19th July 2002 all listed
companies must prepare consolidated accounts in compliance with IFRS (International
Accounting Standards) by 2005 at the latest. Thus real estate has to be shown in the
balance sheet at market value. This fact may have serious consequences for the property,
financial situation and profits. As far as German Telecom is concerned, assets amounting
to 22 billion Euros were removed from the balance sheet with the result of considerable
slumps in stock market prices.
- The appearance and strategy of companies undergoes sudden changes because of the
surge of mergers and acquisitions.
- Basel II (that implements an EU directive) requires a new quality of risk transparency and
risk management, in order to obtain more favourable conditions on the capital market.
These tendencies lead to challenges on the real estate management as follows:
- Reduction of the capital tied up in real estate and cost minimization in the use of real
estate for financial benefit
- Creation of transparency in the stock of real estate and in its utilization
- Efficient setup of a stock of strategically important real estate and liquidation of
strategically insignificant property
- Value adding in real estate management and transparency and follow-up of property risks.
These statements go to show how changeable the world of real estate has become and what
great efforts will have to be made to pursue real estate policies that facilitate successful
business. While up to now the focus was on growth, on securing the company’s location and
the development of secret reserves, there will be a shift to portfolio optimization,
minimization of space requirements and reduction of the additional costs in future.
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