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Global Capital Sources Richard Divall Head of Cross Border Capital Markets EMEA for Colliers International

CEE SUMMIT 28-29 June, 2017

Confidential – Colliers International 2017

Sovereign Wealth Funds

3


Global Insurance Companies/PF’s/Chinese SoE’s

4


Private Equity Funds

5


Family Offices

6


Cash Rich Developers & Global REITS

7


Global IM’s

8


Issues to Global Capital entering CEE

9

Small teams ‘Gateway Cities’ Fund into funds CEE developing markets

Access by flights Finance costs

Legal & tax transparency

Availability Exit strategies Contingency Political uncertainty


CEE Investment flows in a healthy state 2016 flows at a cyclical high; Q1 2017 estimated flows well ahead of Q1 2016

10

Historical CEE investment volume (€ bn)

13

10.1

2.9 3.8

6.5

3.9

5.4

7.5

1.6 1.6 2.8 1.1

3.0 2.5

2.1

3.7

5.4

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


The Changing of the Guard

11

2011’s regional volume split 2016’s regional volume split

44%

18%

14%

3%

2%

2%

15% 1%

Europe

UK

USA

MENA

Other G10

South Africa

CEE domestic

CEE cross-border

22%

20%

16%

10%

7%

2% 1%

1%

19%

2% Europe

South Africa

Asia

USA

UK

MENA

Other G10

Other/unclassified

CEE domestic

CEE cross-border


The Asians

12

Asian investment in CEE 2015 (EUR min) Asian investment in CEE 2016 (EUR min)

6 4

0

5

10

15

20

Poland Czech Rep Hungary Romania Slovakia Bulgaria

China Indonesia Japan

285

1010

200 144 0

200

400

600

800

1000

1200

1400

Poland Czech Rep Hungary Romania Slovakia Bulgaria

China Singapore


Political uncertainty and Rand volatility

13


Reasons for overseas property investment

14

Diversification



15

Lack of suitable domestic

opportunities



16

Risk

Reward

Attractive overseas markets


Who is investing?

17

Traditional Investors Recent wave •  Life and Pension funds •  Prop Cos •  HNW & U-HNW •  South African Multinationals

•  Listed Real Estate Funds/Developers/REITs


Richard Divall Head of Cross Border Capital Markets EMEA for Colliers International

18

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