Day 1 - Wednesday Night 21st September 2011
19:00 - Cedem Opening Party
Restaurant Como (Hotel Jalta), Vαclavskι nαm. 45, Praha 1
Day 1 - Wednesday 21st September 2011
08:00 09:00
Breakfast Presentation by CB Richard Ellis
09:30 - 10:30 - (Re)finance It's decision time
The property financing frenzy was well underway by the end of 2006, which means that the long- expected wave of deals maturing after five years is now upon us. Banks have been doing their utmost to avoid straight foreclosures, by using a wide range of tactics, all of which are strictly behind the scenes activities. But if deleveraging is truly taking place, then not all of the loans can be renewed or extended or rolled over. Who will fill the finance gap, and at what price?
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10:30 - 11:30 - Myth busters: Does investor interest in CEE really go beyond Warsaw and Prague?
By the end of the boom, investors were willing to invest anywhere in CEE on rather similar conditions. Today, there's enthusiasm for Warsaw and a willingness to buy in Prague, but selling investors on properties anywhere else is a challenge. Schemes are now investigated exhaustively for months, as are specific locations and cities. There are a few deals happening elsewhere exceptions, but is there any hard evidence that there's serious investor demand beyond CEE's northernmost neighbors?
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11:30 11:50 Networking Break
11:50 12:45- The malling of secondary cities: Enough is enough
For every secondary city across Central and Eastern Europe, there are usually two or three major retail developers working furiously behind the scenes to push through major new shopping centers. All of them, of course, think their projects are the best, and none can accept losing the time and money they've already invested in the projects. It will likely be up to the banks to take a pragmatic approach in order to avoid new problems, but shouldn't city planners start stepping up to take more responsibility?
12:45 13:45 Lunch
13:45 14:45 - Industrial Will rising deal activity reignite development?
The number of deals for existing space is finally making a dent in vacancy figures, so that while some regions still suffer from an excess of warehouses, others have gone too far in the opposite direction. Build-to-suit agreements are being made, but has the industry recovered enough for a broader-based development recovery? What's been the sticking point to date: lack of finance, lack of willing equity, or simply not enough demand?
14:45 15:45 - Why CEE's top office parks are surviving
The ability for tenants to grow is crucial to the success of office parks in the good times. But how do they perform in the tough times? And what strategies are new parks now being developed in the post-crisis era manage to get off the ground. This panel will feature speakers from the most successful parks in Central & Eastern Europe, and from schemes just getting underway.
Day 2 - Thursday 22nd September 2011
9:30 10:30 - Debate: Is land worth anything yet?
There's been a slight renewal of demand for land across some parts of CEE, but is there really a clear case for such investments yet? Some believe that as banks continue to deal with distressed borrowers, increasing amounts of land could hit the market at lower prices. And with no land financing available anywhere, how many developers will want to pour their own equity into anything but read-to-go plots with planning in place?
10:30 11:30 - Development financing in the post-crisis era
It's pointless waiting for the market to return. This is the market, and tomorrow's winners are busy doing business today under current conditions. What strategies are developers to get construction underway? How are they financing the gap that appears so often between the equity they have available, and what banks are willing to underwrite? What type of company makes the best JV partner for developers on the brink?
11:30 11:50 - Networking Break
11:50 12:45 - Property development and investing in times of uncertainty
The global economy dodged a bullet this summer when the USA increased its debt limit, but serious concerns remain about the current Eurozone regime. As the fifth year of the crisis begins, what's the best strategy for investors and developers? The economic weather may not be sunny, but has the drastic reduction in supply also reduced risk enough?
12:45 13:45 - Lunch
