Cityscape 2008 – New York

Cityscape 2008 kicks off next month in New York with an interesting slant this year. Due to falling real estate values in the US and the drop in value of the dollar, US based developers and agents are looking to investors from overseas, particularly from emerging markets

Cityscape USA 2008

As the economy softens in the US and emerging markets continue to thrive, foreign investors are purchasing US properties in a growing trend that includes the Abu Dhabi Investment Council’s, a sovereign wealth fund, purchase of a 75% stake in the Chrysler Building.  These topics, among others, will be examined by leaders from around the globe at Cityscape USA – a large-scale networking exhibition and conference where US real estate industry professionals will have access to and network with some of the biggest names in the emerging world.

Investment from emerging markets such as Asia and the Middle East is entering into the US market at an astonishing rate due to a weakened dollar and few regulatory barriers.  A report published by Global Capital Trends recently noted, “At least one third of all property acquisitions involved a foreign buyer or capital partner in 2007.”  The study also set forth that global buyers spent a total of $46 billion last year in North America.

“A number of factors are currently causing dynamic shifts in property capital throughout the world.  The timing of Cityscape USA could not more opportune for leaders in the industry to gather and discuss recent events and their implications for investors,” says Robert White Jr., Founder and President, Real Capital Analytics.

Robert White Jr. will be speaking at the upcoming Cityscape USA conference about global capital flows.

“According to the most recent survey published by the Association of Foreign Investors in Real Estate (AFIRE), more than 50% of foreign investors’ real estate capital scheduled to be invested around the globe in 2008 ($1.692 billion) was earmarked for investments in the US.  Of the $700 billion in real estate assets held by the non-US investors who comprise AFIRE’s membership, $230 billion, or roughly one third of total real estate holdings, are based in the US,” says Geoffrey Dohrmann, President, CEO, Publisher and Editor-in-Chief, Institutional Real Estate, Inc.

Georffrey Dohrmann will be speaking at the Cityscape USA conference about institutional investors’ perspective on emerging market real estate opportunities.

While there is an influx of capital into the US from overseas, American real estate investors are also increasingly focusing on opportunities in emerging markets.  Real estate capital from the US to Europe and Asia is amongst the largest flows of investment in the world.

“According to data compiled for the Institutional Real Estate Universe by Institutional Real Estate, Inc., 77% of the 635 private equity fund offerings seeking to raise capital around the globe were focused on global and international strategies.  That represents roughly $420 billion of the $545 billion currently being offered by these fund managers,” says Dohrmann.

A report by Global Capital Trends sets forth that US-based investors were the most active in 2007, making over $70 billion of international property acquisitions.  With the huge growth of new markets including India, China and Latin America there is extraordinary opportunity for increased international investment.  Cityscape USA promises to be an entrée for domestic investors into these emerging markets.

Cityscape USA has attracted support from major industry firms including investment sponsor, Dubai-based Nakheel; platinum sponsor, US-based CityCenter; as well as silver sponsors US-based ING, Savannah, and Capri Capital Partners. The event is scheduled to run from the 9th to the 12th September in the Javitts center, New York. To pre-register for the event go to: Cityscape USA