Industry leaders, academics, investors, planners, developers, decision makers, public officials and attorneys from various chapters converged in Colombo on Tuesday to take the stock of the country's real estate scenario, at an international conference. The International Conference on Real Estate Management and Valuation (ICREMV-2017) was held at Hilton Residences, Colombo, under the theme "Smart Real Estate- toward Unmet Socio- Economic Needs.
The conference brought about a transformation in the real estate sector with emerging global trends in real estate industry. The convention deliberated on land valuation mechanisms to promote genuine real estate activities, opportunities and challenges for the Port of Colombo to become a hub port, development planning related to resettlement projects, factors affecting the competitiveness of Kandy as a heritage tourism destination, smart real estate and ethics for valuation among other subjects that touch on real estate development.
Prof. Deborah Susan Levy, Head of Department of Property, University of Auckland, delivering the keynote address at CREMV-2017, spotlighted that properties have to be fixed for purpose, and they have to be multi-functional in today's context in the corporate real estate sector.
"Even in the corporate world, one has to ask whether these smart corporate buildings are actually looking after our unmet socioeconomic needs," she said.
"We need satisfaction at the workplace, we need to feel satisfied with our working environment, we need to collaborate with people. In order to do that, and if we do, we become more productive. It is all about people and their behaviour. We have to think about satisfaction, productivity and collaboration. Coming together by academics and industries is very powerful," she said.
"You have to look, if buildings are a huge resource, how we use it productively. The properties have to be flexible. They have to give space sufficiently. People are looking at work-life balance. Technology has to be responsive and fit for purpose," she said.
"The property management or how we use our buildings is very important. We can have all the wonderful layouts and top buildings, but if we do not manage them properly, people aren't going to enjoy working in them and be productive. "Whether it is low income or high income, we have to think about people, whether they are satisfied with their working environs," she stated.
The Secretary of the Ministry of Lands and Parliamentary Reforms, Dr. I H K Mahanama was the Chief Guest at ICREMV-2017.
It was organized by the Research and Professional Development Centre of the Department of Estate Management and Valuation, working collaboratively with Sri Lanka Government Valuation Department, Urban Development Authority, Colombo Municipal Council, University of Sri Jayawardenepura and industry partners.
Prof. K G P K Weerakoon chaired inaugural session of the conference. Estate Management and Valuation Department head Dr. N.C.Wickremaarachchi, Management Studies and Commerce Dean Dr .U Anura Kumara, and Sri Jayawardenepura University Vice Chancellor Prof Sampath Amaratunga were at the head table.
ICREMV Secretary T G Upuli P Perera extended the vote of thanks.
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