Download or read book The Use of REITs as an Alternative Source to Finance Senior Housing Development in China written by Yiming Cai (S.M.) and published by . This book was released on 2017 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: As China's elderly population grows at an accelerating rate, investors from a wide range of industries have entered the senior housing market and view it as a "sunrise industry" which can offer attractive returns for investors. Today, growth in China's senior housing market is presents both tremendous opportunities and challenges. On the other hand, due to the large capital required, long investment cycle and steady capital inflow toward the middle or the end of the projects, an alternative financing method is required to meet the rapid development of senior housing in China. REITs (Real Estate Investment Trusts), allowing anyone to invest in portfolios of large-scale properties through the purchase of stock, are a great alternative source for financing. This thesis reviews the background and current market of senior housing in China and discusses the key points in this industry, especially the ways of project to finance. Then, REITs are introduced in terms of history, pros and cons, valuation, and challenges. A case of a US leading health care REIT is conducted, with a comparison to the current quasi-REITs in China. Finally, the general strategy and structure of senior housing REITs are discussed. Based on this study, REITs clearly fit the current and future needs of senior housing sector in China. Although China's capital market is not completely ready to adopt REITs with international standards, China should pursue the experiment of such practice amid the challenges.
Download or read book Business Development via AI and Digitalization written by Allam Hamdan and published by Springer Nature. This book was released on with total page 1112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investigation Into the Use of Real Estate Investment Trusts to Finance Affordable Housing in Mainland China written by Yuxuan Huang (M.C.P.) and published by . This book was released on 2010 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainland China's system of affordable housing provides housing for low and medium income groups. Housing for sale and housing for rent give residents two choices and also give two choices for municipal governments to provide affordable housing. Municipal governments play a mono role in building and financing affordable housing, so they tend to build housing for sale rather than for rent to collect back investment in order to finance more housing units. However, rental housing is more affordable to residents in China. Municipal governments lack a way to liquefy these rental properties and attract private investment. On one hand, municipal governments hold a lot of rental properties worth billions of money; On the other hand, they still lack funding sources to finance new affordable rental housing. No liquidity has made municipal governments stuck with holding properties, and reduced their ability to build more public rental housing for low and medium groups. Real Estate Investment Trust (REIT) is a financial vehicle that securitizes properties and allows private sectors to invest and trade securities of real estate. Mainland China plans to use this vehicle to securitize rental-housing units owned by municipal governments and help finance affordable housing through attracting private sector's investment. It has built up its structure of bond-like REIT, which is different from traditional equity REIT in the U.S. What should policy makers keep in mind in order to successfully implement the plan? This thesis answered this question by researching experiences from other countries and areas. It reviewed a mature market, REITs in the US, on its history and experience of REITs participating into affordable housing. It also studied a failure case from Hong Kong, which privatized its public housing properties by the Link REIT and generated social losses. This thesis also researched the bond-like REITs from the experience of Real Estate Asset Trust (REAT) in Taiwan. Based on these researches, the thesis found Mainland China's opportunities. It suggested that debt financing instead of equity financing by public listed REITs is important to preserve the safety of affordable statue of housing units. It also found that affordable housing is attractive to REITs during recession period with it steady and low risk of income. There are also other significant implications suggested that should be kept in mind for policy makers in Mainland which are included in the last chapter of the thesis.
Download or read book Why Affordable Housing Developers Should Go Public written by Xiang Ying Estelle Chan and published by . This book was released on 2016 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The affordable housing crisis in the United States is real and persistent. In the face of growing economic inequality and the failure of public housing programs, American cities need the development industry to deliver more affordable housing units than ever before. Instead, the affordable housing development process is regarded as a fragmented nexus involving multiple public and private sector parties. Raising capital for affordable housing projects is notoriously complex; it is common to see individual apartment buildings funded by a mix of any of the following: public grants, federal tax credits syndicated through private lenders, interest-free debt from community lenders and municipalities, mortgage debt from commercial lenders and private equity. A good affordable housing developer must be adept at understanding the covenants and eligibility requirements of every source of funds as part of the development process, and work with the myriad parties to compete or apply for funds. This long and convoluted process raises high barriers to entry into the industry and slows down the production of a public good. This thesis investigates the possibility of an alternative funding model for affordable housing development and proposes that developers go public to raise capital, adopting the same tried-and-tested method of financing real estate development that commercial developers have relied on for nearly 30 years. This thesis will argue that a REIT can function as an organizing mechanism to simplify the process of raising capital across different pools of institutional equity, private wealth and public funding. By being able to turn to the widest capital markets for fundraising, affordable housing developers can be nimble in choosing when to raise capital and flexible in deploying it to build experimental mixed-income and workforce housing, two typologies of housing that have been identified as helping to make urban areas more inclusive. Through this thesis, I posit that the affordable housing development REIT can serve as the central platform to consolidate the various pools of triple-bottom- line investors and to create for the first time a public market for an asset class that exhibits all the features of a stable, long term core investment.
Download or read book A Study of Using REITs as an Alternative Way of Financing Affordable Housing in Chinese Major Cities Based on the Context of Nanjing written by Jie Huang and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Commercial Dispute Resolution in China written by Beijing Arbitration Commission and published by Wolterskluwer HK. This book was released on 2022-11-14 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2021, the COVID-19 pandemic continued to affect economic development. In addition, due to the changing global situation, international competition was increasingly fierce. Under the circumstances of major changes and a pandemic unseen in a century, commercial dispute resolution in China is confronting new challenges, facing new changes and ushering in new developments. In the field of commercial arbitration, the promulgation of the Arbitration Law (Revision) (Draft for Comment) brought about many reforms to China’s current arbitration system, aroused widespread attention and discussion in the industry, and boosted arbitration research and the arbitration legal system to new levels. Arbitration institutions, including the Beijing Arbitration Commission/Beijing International Arbitration Center (hereinafter referred to as the “BAC/BIAC”), have duly issued new rules according to the needs of case handling and pandemic prevention and control in order to guide new arbitration practices, and the highlights of China’s judicial supervision and opening-up of arbitration are eye-catching. In the field of commercial mediation, the Supreme People’s Court has continuously promoted the development of a “one-stop” diversified dispute resolution system to support international commercial mediation organizations in providing mediation services in free trade zones; the Shenzhen Intermediate People’s Court has innovatively introduced third-party mediation organizations to participate in bankruptcy reconciliation; and practices in coordination between arbitration and mediation have been constantly enriched. Commercial mediation is playing an increasingly important role in alternative dispute resolution in China. In key professional fields, while actively responding to the impacts of the pandemic and focusing upon the resumption of work and production, legal construction and dispute resolution have also been developing.
Download or read book Housing Market Dynamics in Africa written by El-hadj M. Bah and published by Springer. This book was released on 2018-03-12 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book utilizes new data to thoroughly analyze the main factors currently shaping the African housing market. Some of these factors include the supply and demand for housing finance, land tenure security issues, construction cost conundrum, infrastructure provision, and low-cost housing alternatives. Through detailed analysis, the authors investigate the political economy surrounding the continent’s housing market and the constraints that behind-the-scenes policy makers need to address in their attempts to provide affordable housing for the majority in need. With Africa’s urban population growing rapidly, this study highlights how broad demographic shifts and rapid urbanization are placing enormous pressure on the limited infrastructure in many cities and stretching the economic and social fabric of municipalities to their breaking point. But beyond providing a snapshot of the present conditions of the African housing market, the book offers recommendations and actionable measures for policy makers and other stakeholders on how best to provide affordable housing and alleviate Africa’s housing deficit. This work will be of particular interest to practitioners, non-governmental organizations, private sector actors, students and researchers of economic policy, international development, and urban development.
Download or read book The Rotarian written by and published by . This book was released on 2006-09 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Established in 1911, The Rotarian is the official magazine of Rotary International and is circulated worldwide. Each issue contains feature articles, columns, and departments about, or of interest to, Rotarians. Seventeen Nobel Prize winners and 19 Pulitzer Prize winners – from Mahatma Ghandi to Kurt Vonnegut Jr. – have written for the magazine.
Download or read book Urban Planning and Real Estate Development written by John Ratcliffe and published by Routledge. This book was released on 2004-08-02 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive treatment of the twin processes of planning and development and is the only book to bring the two fields together in a single text.
Download or read book The Infrastructure Finance Challenge written by Ingo Walter and published by Open Book Publishers. This book was released on 2016-11-21 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Infrastructure and its effects on economic growth, social welfare, and sustainability receive a great deal of attention today. There is widespread agreement that infrastructure is a key dimension of global development and that its impact reaches deep into the broader economy with important and multifaceted implications for social progress. At the same time, infrastructure finance is among the most complex and challenging areas in the global financial architecture. Ingo Walter, Professor Emeritus of Finance, Corporate Governance and Ethics at the Stern School of Business, New York University, and his team of experts tackle the issue by focussing on key findings backed by serious theoretical and empirical research. The result is a set of viable guideposts for researchers, policy-makers, students and anybody interested in the varied challenges of the contemporary economy.
Download or read book REITs written by David M. Einhorn and published by Law Journal Seminars Press. This book was released on 2017-12-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides essential discussion of how the customs of corporate and real estate transactions differ and how conflicts involving letters of intent and contingencies to the deal can be resolved.
Download or read book In Defense of Housing written by Peter Marcuse and published by Verso Books. This book was released on 2024-08-27 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In every major city in the world there is a housing crisis. How did this happen and what can we do about it? Everyone needs and deserves housing. But today our homes are being transformed into commodities, making the inequalities of the city ever more acute. Profit has become more important than social need. The poor are forced to pay more for worse housing. Communities are faced with the violence of displacement and gentrification. And the benefits of decent housing are only available for those who can afford it. In Defense of Housing is the definitive statement on this crisis from leading urban planner Peter Marcuse and sociologist David Madden. They look at the causes and consequences of the housing problem and detail the need for progressive alternatives. The housing crisis cannot be solved by minor policy shifts, they argue. Rather, the housing crisis has deep political and economic roots—and therefore requires a radical response.
Download or read book What s Next written by Jonathan David Miller and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: After decades of what felt like infinite resources and vast wealth pools available to fuel the consumption-based U.S. economy, we now face a mindset of shortage. We all know the history--government-supported mortgages and freeways, affordable automobiles, cheap gas, and post-World War II industrial expansion all underwrote the exodus from "cramped" urban neighborhoods to spacious single-family suburban homes. Car models were a talisman for individual success, and public transit turned into an afterthought in suburban agglomerations. Proximity to anything didn't matter when you could drive easily to almost everywhere. And exhilarating mobility over long distances enabled more people to own more land--and build larger houses--at the ever-expanding suburban fringe. Employers sought to build suburban office islands, set apart from housing, retail, and transit. That's over. What's next?
Download or read book SEC News Digest written by United States. Securities and Exchange Commission and published by . This book was released on 1977-07 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lists documents available from Public Reference Section, Securities and Exchange Commission.
Download or read book Adam Smith in Beijing written by Giovanni Arrighi and published by Verso Books. This book was released on 2009-01-05 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the late eighteenth century, the political economist Adam Smith predicted an eventual equalization of power between the West and the territories it had conquered. In this magisterial new work, Giovanni Arrighi shows how China’s extraordinary rise invites us to reassess radically the conventional reading of The Wealth of Nations. He examines how recent US attempts to create the first truly global empire were conceived to counter China’s spectacular economic success Now America’s disastrous failure in Iraq has made the People’s Republic of China the true winner in the US War on Terror. China may soon become again the kind of noncapitalist market economy that Smith described, an event that will reconfigure world trade and the global balance of power.
Download or read book Catalyzing Green Finance written by Asian Development Bank and published by Asian Development Bank. This book was released on 2017-08-01 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large financing need challenges climate-adjusted infrastructure in developing Asia, estimated at $26 trillion till 2030. This necessitates crowding-in private sources to meet financing, efficiency, and technology gaps. However, a lack of bankable projects is a major hurdle. This publication suggests one possible innovative financing approach. The Green Finance Catalyzing Facility (GFCF) proposes a blended finance framework for governments and development entities to better leverage development funds for risk mitigation, generate a pipeline of bankable green infrastructure projects, and directly catalyze private finance. The GFCF provides useful inputs for the current debate on mainstreaming green finance into country financial systems.
Download or read book Capital Flows and the Emerging Economies written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2008-04-15 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes—in Mexico, Thailand, South Korea, Russia, and Brazil—were all exacerbated by speculative foreign investments and high-volume movements of capital in and out of those countries. Insufficient domestic controls and a sluggish international response further undermined these economies, as well as the credibility of external oversight agencies like the International Monetary Fund. This timely volume examines the correlation between volatile capital mobility, currency instability, and the threat of regional contagion, focusing particular attention on the emergent economies of Latin America, Southeast Asia, and Eastern Europe. Together these studies offer a new understanding of the empirical relationship between capital flows, international trade, and economic performance, and also afford key insights into realms of major policy concern.
