18
Valuation Advisory Services Hong Kong We see value.
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Valuation Advisory Services
Hong Kong
We seevalue.
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Valuation Advisory Services A trusted advisor for your real estate valuation and consultancy requirements
JLL’s Valuation Advisory Services team provides professional valuation and property consultancy advice to suit your real estate needs. We have over 40 years’ experience in property valuation and advisory in Hong Kong, having offered these services since the 1970s. Our team has a proven track record in working with both local and multinational clients, in Hong Kong and across the Asia Pacific region. We can provide you with sophisticated and impartial valuation and consultancy advice in strategic planning, initial public offering, sales and disposal, financial reporting, and finance and capital raising.
Corporate Valuation | Monitor and review your real estate portfolio to recommend space requirements, strategic disposals or potential redevelopments.
Dispute Resolution and Litigation | Independent valuation advice and expert advice on real estate-related legal disputes and proceedings, representation in courts and arbitration negotiations.
Investment and Fund | Support for investment funds and trusts in portfolio management and strategic long-term investment planning with our proficient appraisals and critical analyses.
Land Consultancy | Advice on town planning, lease modifications, resumptions and acquisitions.
Mortgage Advisory | Verbal value indication and reporting to assist in your mortgage lending and financing decisions.
Regional Advisory | Single point of contact to meet your regional property valuation needs. Our coverage extends to the PRC, Macau, Taiwan, Vietnam, Philippines, South Korea and beyond.
Strategic Consulting | Feasibility studies, market research and advice on development projects to unlock the potential value inherent in your real estate.
Transactional Support | Provide due diligence support in your real estate acquisitions and disposals by assessing property asset values to ensure smooth transaction processes.
Our Services
Overview
02 | Valuation Advisory Services
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Key Personnel
Our Qualifications
Members of our team hold professional qualifications with the following organisations:The Hong Kong Institute of SurveyorsRoyal Institution of Chartered SurveyorsChina Institute of Real Estate Appraisers and Agents Australian Property InstituteCFA Institute Estate Agents Authority
JLL is a regulated firm under the RICS Valuer Registration system.
Overview
Key Drivers of Success
Market best practicesProfessionalismGood client relationships Value-added servicesExtensive market knowledge
More than 70 employees(More than 20 in PRC)
Over 50% qualified professionals
Chun Kong LauInternational Director
Head of Valuation Advisory Services
Rita WongInternational Director
Cliff TseRegional Director
Dorothy ChowRegional Director
Alkan AuNational Director
Valuation Advisory Services | 03
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
04 | Valuation Advisory Services
Overview
Software
We utilise comprehensive ARGUS Enterprise software to conduct cash flow analysis, allowing us to comply with industry standards across projects and work flows. We also capitalise on in-house valuation models and a comprehensive database of building profiles and registered transactions dating back to 1988.
Quality Assurance System: ISO Accreditation
Professional Indemnity and Accreditation
For more information: Chun Kong LauMRICS, FHKIS, RPS (GP)International Director & Head of Valuation Advisory [email protected]+852 2846 5501
ISO 9001: 2008Certificate No.: CC 568
068
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Corporate Valuation | 05
Corporate ValuationFully utilise your real estate resources by monitoring their changing value
The Corporate Valuation Services team seeks to review owners’ and occupiers’ properties to assess their value, long-term space requirements, strategic sale and leaseback potentials. Our services enable companies to derive full utilisation of their property resources via regular monitoring of their assets’ value and by investigating alternatives for improved returns. We endeavour to innovate new ways of creating growth and take pride in discovering the unseen value of assets.
CorporateValuation
Our Services
Valuation for Accounting Purposes
To help you meet your statutory and financial reporting requirements.
Corporate Valuation and Advisory Services
To review your property resources in areas including occupational costs, leasing, relocation and disposal strategy.
Alternative Use Appraisal
To identify the market potential of alternative uses of your assets, and to assess changes in property value caused by adjustments in market conditions and government policies and legislation. To conduct highest and best use analysis, including conversion, redevelopment, renovation, disposal, and sale and leaseback strategies.
Financing and Fund Raising
To assist you in making your investments with support in capital raising.
For more information: Dorothy ChowBSc (Hons), MSc, MRICS, MHKIS, RPS (GP)Regional [email protected]+852 2846 5517
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Dispute Resolution & Litigation
Expert advice for real estate negotiations and legal proceedings / arbitration
The Dispute Resolution and Litigation team draws on JLL’s high standards of professionalism and integrity to provide expert advice on real estate-related negotiations and legal proceedings / arbitration. Our team represents landlords, tenants, developers, and other real estate stakeholders. We have worked closely with a number of world’s reputable law firms, including Baker & McKenzie, Deacons, Hogan Lovells and Norton Rose Fulbright.
06 | Dispute Resolution & Ligitation
For more information: Chun Kong LauMRICS, FHKIS, RPS (GP) International Director & Head of Valuation Advisory [email protected]+852 2846 5501
Dispute Resolution
andLitigation
Our Services
Rent Review
To represent landlords or tenants in rent review and lease renewal cases. We advise on analysis and interpretations of leases (including rental determination mechanism), and comparable evidence. Our valuations may be used for such purposes as decision making, negotiations, and submissions to independent experts for determination of rentals under lease.
Litigation Support
To provide rental and/or capital value assessments for court/tribunal submissions, including cases relating to sales and purchases, Chapter 545 Land (Compulsory Sale for Redevelopment) Ordinance and Chapter 352 Partition Ordinance. To act as expert witnesses in courts and/or tribunals and to provide professional input on real estate matters in dispute. We liaise with solicitors, counsels and other professionals (including experts appointed by the other parties in the dispute).
Taxation
To assist owners and occupiers in handling stamp duty and rating appeals with relevant tax and assessment authorities. Where a court determination is deemed appropriate, we provide proof of evidence reports and act as expert witnesses in court and/or tribunal hearings.
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Investment & Fund
Supporting business strategies
JLL provide real estate support to investment funds and trusts for the management of their portfolios and in making acquisition and disposal decisions. We coordinate specialist teams within our firm to provide a one-stop service ranging from acquisitions and disposals, technical due diligence, market research, asset management, and valuation and financial reporting. Supported by our in-depth understanding of the real estate fund sector, the team utilises in-house valuation models and ARGUS software to produce timely results.
Our Clients
5 out of 10 REITs listed on the Hong Kong Stock Exchange, amounting to approximately 70% of the total Hong Kong REIT market capitalisation of HKD190.6B, as of September 2015Cross-borders funds across the region
For more information: Dorothy ChowBSc (Hons), MSc, MRICS, MHKIS, RPS (GP)Regional [email protected]+852 2846 5517
Investment and Fund | 07
Investment and
Fund
Valuation for Accounting Purposes
To act as an external valuer to provide interim and annual portfolio valuations for financial statement purposes.
Feasibility Studies
To conduct in-depth feasibility studies of your properties to discover potential value enhancement opportunities. We assist you in developing business strategies, as well as decision-making on asset acquisitions and disposals, supported by market value assessments, cash flow analysis, market research, due diligence exercises and compliance checks.
Fund Raising
To assist you in making your investments, with support in capital raising and identifying opportunities. We conduct ongoing reviews on your fund’s performance and advise on potential capital structure alternatives.
Our Services
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Land Consultancy
Enhancing land owners’ and developers’ real estate investments
The Land Consultancy Services team assists owners and developers in identifying and unlocking the potential values inherent in land. We draw on our extensive experience and knowledge of the latest developments in regulations, policies and practices, to deliver consistently high results. We are experienced in advising landlords and developers from both the private and public sectors, which has allowed our team to develop insight into complex land matters.
08 | Land Consultancy
LandConsultancy
Lease Modification and Town Planning
A change of use can enhance the value of some properties. We offer professional assistance in producing submissions to government departments and authorities to facilitate development of your real estate.
Lease modification and land exchange applications Town planning applicationsWaiver applicationsAssessment and negotiation of premium, waiver fees, or short term tenancy rentalsPremium arbitrationsShort term tenancy applications
Land Resumption and Acquisition
To provide transactional support for potential acquisitions, to assess compensation due to resumptions, and to assist you in submitting claims to the Lands Department, Urban Renewal Authority and other authorities.
Identification of heads of claimsReview of title documents in alignment with latest government policiesAssessment of business losses and other disturbancesAssessment of market value to support acquisition decisions or offersRepresentation of claimants in meetings with government or other officialsPreparation of submissions to the Lands Tribunal and act as an expert witness in court or tribunal hearings for determinationFormulation of acquisition strategiesCoordination with external consultants throughout applications
Our Services
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
For more information: Chun Kong LauMRICS, FHKIS, RPS (GP) International Director & Head of Valuation Advisory [email protected]+852 2846 5501
Dorothy ChowBSc (Hons), MSc, MRICS, MHKIS, RPS (GP)Regional [email protected]+852 2846 5517
Land Consultancy | 09
Client: Urban Renewal Authority (URA)Project: Kwun Tong Town Centre (Project K7)
The largest single project undertaken by the Urban Renewal Authority (URA). The proposed redevelopment scheme comprised residential and commercial use, together with government, institution or community facilities. The total site area covered by the scheme is about 570,000 sf and is expected to deliver a total floor area of about 4,306,000 sf. This includes 2,260,000 sf for commercial use, 1,722,000 sf for residential and 344,000 sf for government / institution / community purposes.
Our Services and Results:
Prepared valuation reports of all non-domestic and single-owner property interests in the then-existing buildings. within the redevelopment scheme, upon which the URA’s acquisition offers were based.Reviewed counter submissions from consultants acting on behalf of property interests’ owners.Conducted negotiations with the owners and their representatives.Provided valuation advice to the URA in relation to the acquisition offers and counter-offers.The URA made good progress in acquiring property interests within the Scheme. The URA obtained the whole site in September 2014 and foundation works commenced in April 2015.
Case Study
Our Clients
Clearwater Bay Land LimitedGoldin GroupGoodmanHanison Construction Holdings Limited
Henderson Land DevelopmentShui On GroupUrban Renewal AuthoritySeveral international schools in Hong Kong
LandConsultancy
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Our Services
Our valuation reports are tailored to different banks’ internal procedures and specific requirements. In addition to market value, we provide market value valuations with reference to specific assumptions and conditions – such as Value for Sale under Repossession and Building Insurance Replacement Cost assessments – upon request.
Verbal indication
Instructions for valuation report
Property inspections
Market research
Comparables analysis
Report preparation
Mortgage AdvisorySwift appraisal of all property types for financing purposes
Our Mortgage Advisory Services team provides tailor-made valuation services to banks or financial institutions regarding financing for real estate assets. Our experienced valuers deliver instant verbal value indications and provide further information to facilitate clients’ financing decisions. The team handles hundreds of verbal enquires from banks daily and processes a vast volume of instructions, producing property valuation and short form reports for mortgage financing purposes.
For more information: Cliff TseBSc (Hons), MRICS, FHKIS, RPS (GP)Regional [email protected]+852 2846 5557
MortgageAdvisory
HSBCHSBC Private BankThe Bank of East AsiaStandard Chartered BankUBS AG
Our Clients
ABN Amro BankBank of China (Hong Kong)Bank of CommunicationsCitibankCredit SuisseDBS Hang Seng Bank
Sectors
Office Industrial RetailResidential
10 | Mortgage Advisory
In-house database of over 8,000 building brochures and millions of transaction records.Swift value indications based on our market intelligence and statistical observations.More than 4,000 valuation reports annually.
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Regional Advisory -
PRCFocused
Regional Advisory – PRC FocusedIntegrated services across Asia Pacific paired with in-depth local expertise
Our Regional Advisory Services team has over 40 years of valuation and advisory experience in the Asia Pacific Region. With our base in Greater China, the PRC is our key focus, covering over 30 cities. The team has developed alongside the property market in the PRC. With the increasing complexity of the property market, we keep abreast of prevailing market practices in the PRC and endeavour to be one step ahead of the market by expanding our service coverage to meet with the future needs of our clients.
Our centralised organisation provides you with a single point of contact to meet your valuation needs, enhancing your operational efficiency and delivering cross-border consistency. We pair our extensive experience in managing and coordinating regional assignments with an in-depth knowledge of the requirements, processes and deliverables demanded in individual local markets.
With our extensive Asia Pacific network, our team provides regional valuation services to clients with real estate portfolios across the region. Our dedicated regional teams span three core regions – Australasia, South East Asia and North Asia – with local presence across 15 locations in Asia Pacific.
Our Services
The Regional Advisory Services team provides a range of valuation and advisory services for local or overseas companies with investment properties or with interest to invest, locate or relocate into certain emerging markets.
As an overseas consultant, we offer the following professional services:
Valuations for financing and fund raisingDue diligence exercisesAsset valuations for financial reportingValuations for public listingValuations for acquisitions and disposalsAdvice on property assets for mergers and acquisitionsDevelopment consultancyFeasibility studies
15 locations inAsia Pacific
AustraliaPRCHong Kong SARIndia IndonesiaJapan KoreaMacau SAR
MalaysiaNew ZealandSingaporeTaiwan ThailandThe PhilippinesVietnam
Regional Advisory - PRC Focused | 11
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
For more information: Rita WongBBus, MRICS, MHKIS, AAPI, RPS (GP)International [email protected]+852 2846 5535
Regional Advisory -
PRCFocused
Case Studies
Client: A major Asian sovereign wealth fund with a portfolio comprising a mix of office, retail, industrial and residential developments. Our Services and Results
Provided property valuation for over 100 properties across 10 locations including Australia, PRC, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Taiwan and Thailand, for accounting and internal reference purposes.
Client: A leading property investment, management and development group, owning and managing approximately 5 million sf of prime commercial space in Hong Kong and other properties across Asia.
Our Services and Results
Business partner since 1970s.Provided ongoing valuation and advisory services for over 30 years for properties located across Cambodia, China, Hong Kong, Indonesia, Singapore, Thailand and Vietnam.Provided a broad range of professional services, including periodic valuation, general property market overview, expert analyses and independent valuation opinions.
12 | Regional Advisory - PRC Focused
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
StrategicConsulting
Strategic ConsultingTailor-made solutions to your unique real estate needs
We provide bespoke advice designed to help clients understand the context in which they operate, and identify the challenges and opportunities unique to their situation. This enables them to make fully-informed decisions in order to achieve specific goals that maximise the potential of their property. Our team comprises professionals with a range of property and data analytical skills, financial expertise and practical real estate experience. We deliver pragmatic strategic solutions based on our local market knowledge, with the ability to combine sound market and financial analysis with the latest research and proven practices.
Our Services
Development Consultancy
To conduct feasibility studies and highest and best use analysis, to form development strategies and provide recommendations on project positioning and design for property owners, developers and investors.
Asset Strategy and Positioning
To advise both landlords and occupiers across all real estate sectors in conducting strategic portfolio reviews and market price and rental analysis, to attain optimal results through short and long term real estate strategy, occupation and investment.
Retail
Working closely with retailers, property owners and developers to enhance the performance of, and add value to, an individual asset or their entire portfolio. We conduct demographical analysis, catchment and competitor analysis, benchmarking, and retailer and shopper surveys to identify opportunities and recommend on positioning, trade mix and designing strategies.
Research
Research consultancy services to help you understand the market and identify trends to support your real estate plans and strategies.
Strategic Consulting | 13
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
For more information: Jacqueline WongBSc (Econ), MSc (RE), MHKIS, MRICS, RPS(GP)Associate [email protected]+852 2846 5505
StrategicConsulting
Case Studies
Property: Proposed commercial development in Kowloon Bay
Our Services: Provided market research to support acquisition decision and recommendations on office and retail space layouts, building design as well as marketing and leasing strategies.
Property: Major cultural district located in West Kowloon
Our Services: Provided recommendations on suitable RDE size and trade mix, considering the feasibililty, viability and profitability of the proposal.
Property: Commercial redevelopment project located in East Tsim Sha Tsui
Our Services: Provided retail study including demographic trend, competitor analysis, retailers survey, recommendation for tenant mix and rental forecast.
Property: Commercial development located along Victoria Harbour in Central
Our Services: Reviewed the financial viability and operation models of the construction of an additional retail / commercial venue within the existing development.
14 | Strategic Consulting
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Transactional SupportSupporting seamless transactions at every stage of the real estate cycle
Our Transactional Support Services play a key role in the successful and timely execution of your property transactions, whether raising loans through banks or raising equity through capital markets. Potential buyers, sellers and lenders appoint us during the due diligence process to assess property asset values thoroughly and efficiently.
TransactionalSupport
Acquisition & Disposal
To provide buyers and sellers with insight on market values of property interests, comment on market conditions, appraise various value determinants and identify the best option available to safeguard their assets.We partner with JLL’s agency departments to arrange for disposal/acquisition of properties.
Bank Financing & Loan Syndication
To support banks and loan syndicates in assessing the income potential and value attributes of real estate assets. Provide tailor-made valuation reports to suit individual banks’ and financial institutions’ requirements.
Initial Public Offering & Privatisation
To provide the credibility, knowledge and valuation resources to assist you in stock exchange procedures including IPO, restructuring, notifiable transactions, privatisation and funding. We liaise with sponsors and professional teams for the preparation of listing documents, prospectuses, and corporate circulars.
Asset Backed Securitisation
A pioneer and market leader in this sector, having provided asset valuations for the first five, and largest, securitisation deals in Hong Kong. The securitisation of rental cash flow creates a marketable investment in either single or multiple property interests.
Our Services
Transactional Support | 15
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
TransactionalSupport
For more information: Rita WongBBus, MRICS, MHKIS, AAPI, RPS (GP)International [email protected]+852 2846 5535
Case Studies
Client: Fortune REIT
Property: Kingswood Ginza Mall in Tin Shui Wai, Yuen Long, features a range of retail spaces, kindergartens, over 600 car parking spaces and ancillary spaces, totalling a gross floor area of approximately 665,000 sf.
Transaction: Transacted at HKD 5.84M in October 2013, this was the largest retail property transaction by size and consideration in Hong Kong in 2013.
Provided independent valuation to the client (purchaser) for the issuance of a circular under the listing requirements of the Hong Kong Stock Exchange and Singapore Exchange Security Trading Limited for public disclosure purposes.Adopted a proprietary valuation model, enabling accurate data input and efficient tenancy analysis. Provided to track major commercial transactions, performance of REITs and other listed commercial landlords, as well as rental performance and patterns of major shopping centres and commercial properties.Facilitated the completion of the acquisition.
Client: A European pension fund managing pension assets of more than USD 453B as of end of June 2015.
Transaction: Invested up to USD 650M for a 20% stake in a Chinese warehouse developer and operator. As of the transaction date, the developer owned 16 operating assets across China with over 14 million sf of modern logistics facilities and had an additional 7.5 million sf of GFA under development.
Provided property valuations of the logistics property portfolio in various cities across PRC for potential investment purposes.
Client: A subsidiary of a North American institutional fund which, as of June 2015, held direct or indirect interests in over 160 million sf of office, retail and logistics properties, and more than 23,000 residential units, totalling over USD 36B in assets.
Transaction: Significant partnership, via an approximately USD 920M capital raising, with a leading Shanghai-focused retail-anchored mixed-use projects developer, owner and operator. Portfolio includes 4.6 million sf of retail and commercial space in Shanghai, and has 4.5 million sf under development in 2015.
Facilitated the transaction by providing property valuations of the completed and under-construction retail properties across various cities in PRC for potential investment purposes.
16 | Transactional Support
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
Our Team | 17
OurTeam
Our Team
Chun Kong LauInternational DirectorHead of Valuation Advisory ServicesInvestment & Dispute Resolution
Rita WongInternational DirectorTeam Head
Cliff TseRegional DirectorTeam Head
Dorothy ChowRegional DirectorTeam Head
Jacqueline WongAssociate DirectorTeam Head
Eric TsangLocal Director
Ken LamNational Director
Alkan AuNational Director
Alex MoLocal Director
Stephen LinLocal Director
Perri YuLocal Director
Raymond WongLocal Director
Keith LeeAssociate Director
REGIONAL ADVISORY- PRC FOCUSED
MORTGAGEADVISORY
HONG KONGADVISORY
STRATEGIC CONSULTING
Overview Transactional Support
Mortgage Advisory
CorporateValuation
Dispute Resolution
andLitigation
LandConsultancy
StrategicConsulting
Regional Advisory -
PRC Focused
Investmentand
Fund
OurTeam
jll.com.hkCompany Licence No.: C-003464
Jones Lang LaSalle© 2016 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
