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Welcome

I would like to wish all INREV members a happy and prosperous 2017.

This is a time of the year when INREV is also very much looking to the future. Nowhere is this more so than in our Business Plan for 2017-19, which sets out our goals for the next three years, and just as importantly, how we intend to achieve them.

INREV’s three strategic goals for 2017- 19 are, firstly, to further develop global market information to support peer-to-peer comparison, second, to create global industry standards, and finally, as always, to be the voice of the non-listed real estate industry.

We will implement these aims through five main areas of activity – value drivers for our members and the wider industry. Foremost among these will be expanding and improving INREV’s European and global indices, further developing professional standards products such as the Due Diligence Questionnaire (DDQ), and further improving our global guidelines and standards. Allied to these efforts, we will be promoting the adoption of our standards in Europe, Asia Pacific and North America, advancing our research programme, and representing the industry in European policy making.

Our ambitions and track record serving the industry have been reflected in the growth of INREV’s membership over the past year: we now represent 400 separate organisations. Of the 40 new members who joined in 2016, 11 are institutional investors, 18 are managers, eight advisors and three academic bodies.

The final quarter of 2016 saw INREV realise of a number of key initiatives. Our Autumn Conference was successfully launched in Frankfurt, attracting more than 130 delegates, while we also published two important research papers – one on cost transparency for non-listed and listed real estate vehicles, the other on secondary market trading and liquidity in our sector. We have also launched an updated version of the Standard Data Delivery Sheet (SDDS), which is now fully linked to the INREV Definitions – see the special article on page 18 of this IQ – tying in with the Business Plan goal of enabling the industry to be more cost efficient and allowing peer-to-peer comparison at the same time.

Last but not least, please put the INREV AGM 2017 in your diary. It will be held in Berlin on the evening of April 3, just before the INREV Annual Conference (April 4-5), and is your chance to influence the strategic decisions of the Management Board. We are always keen to encourage good corporate governance, particularly in our own affairs.