4th International Conference on Real Estate Management and Valuation (ICREMV 2020) organized by the Center for Real Estate Studies (CRES), the research arm of the Department of Estate Management and Valuation, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura was successfully held from 19th – 22nd October 2020 via Zoom platform as a virtual conference, under the theme of SMART Real Estate: Towards Unmet Socio-Economic Needs.
The key events of ICREMV 2020 were the Inauguration, the Academic Session, the Industry Dialog, and the Real Estate Talk. The conference was reinforced in organizing with the collaboration of both academic and industry partners. The academic partners of the conference were the School of Housing, Building, and Planning, Universiti Sains Malaysia, Penang, Malaysia and the Faculty of Humanities and Environmental Studies, Kyushu University, Fukuoka, Japan. Collaborative partners were the Government Valuation Department, Urban Development Authority, Colombo Municipal Council, Institute of Valuers of Sri Lanka, and Royal Institution of Chartered Surveyors Sri Lanka Leadership Forum.
First day of the Conference (19th October 2020) – The Inauguration was graced by the presence of several dignitaries: Chief Guest – Senior Professor (Chair) Sampath Amaratunge, Chairman, University Grant Commission, Guest of Honour – Senior Professor Sudantha Liyanage, Vice-Chancellor, University of Sri Jayewardenepura, Professor P. D. Nimal, Dean, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura and Dr. (Mrs.) T. G. U. P. Perera, Head, Department of Estate Management and Valuation of the Faculty of Management Studies and Commerce, University of Sri Jayewardenepura.
Senior Professor (Chair) R. G. Ariyawansa, Department of Estate Management and Valuation, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura, made a special speech at the inauguration under the topic, Reflections of SMART Real Estate: Economy (E), Real Estate (RE) and Environment (E): E-RE-E and the inauguration session was glorified by the Keynote Speaker, Professor Andrew Baum, Professor of Practice, University of Oxford, one of the renowned professor in the field of real estate, under the theme of “Challenges for Real Estate: Technology, Climate, and Health”. Day 01 was completed with the final event of the day – Undergraduate Poster Session, which included research works of final year students of the B.Sc. Estate Management and Valuation (Special) Degree programme of the Department of Estate Management and Valuation, University of Sri Jayewardenepura.
Second day of the conference (20th October 2020) – The Academic Session aimed to discuss contemporary and long-term impacts of COVID 19 on the real estate market and its implication for real estate professions. The conference invited research scholars to publish their scientific work under the different tracks of the conference. The Academic Session was held as two successful parallel sessions with two insightful session keynote speeches followed by 10 best academic paper presentations. The topic of the Session I keynote speech was Recent Research on Urbanization and Lessons for Urban Planning, delivered by Professor, Prasanna Divigalpitiya, University of Kyushu, Fukuoka, Japan and the Session II keynote speech was delivered by Dr. Salman Riazi Mehdi Riazi, Universiti Sains Malaysia, Penang, Malaysia, under the timely theme of the Impact of COVID-19 on the Real Estate Sector and the Way Forward.
Third day of the conference (21st October 2020) – The Industry Dialog was the delivery of four insightful speeches by industry experts, under valuable and timely topics:
- Information for SMART Real Estate – Professor (Mrs.) K. G. P. K. Weerakoon, Professor, Department of Estate Management and Valuation, University of Sri Jayewardenepura.
- Dealing with Uncertainty from COVID-19 Pandemic in Assessing Market Value of Office Building Complex – Mr. Anthony Fernando, Chartered Valuation Surveyor, Valuation Manager at ValuStrat Qatar ValuStrat, Dubai, United Arab Emirates.
- The Real Estate Investment Landscape of Sri Lanka and SL-REITS – Dr. Harshana Suriyapperuma, Director Corporate Affairs, Security and Exchange Commission of Sri Lanka.
- Assessment of Fair Value of Bearer Biological Assets for Financial Reporting Purpose Approach and Methods Applied in the Backdrop of COVID-19 Pandemic – Mr. D. Prathapasinghe, Chartered Valuation Surveyor, and Secretary of RICS Sri Lanka Leadership Forum.
Fourth day of the conference (22nd October 2020) – Real Estate Talk was aiming at sharing knowledge and building the relationship between academia and industry practitioners. The cross-sector panelists held a discourse around the conference theme: “Role of Real Estate Markets: Stepping Towards Developing to Developed” in which the audience could listen and interact. The panel consisted of the following dignitaries:
- Senior Professor (Chair) Sampath Amaratunge, Chairman, University Grant Commission
- Dr. (Mrs.) Nishani Wickramaraarachchi, Senior Lecturer, Department of Estate Management and Valuation, University of Sri Jayewardenepura.
- Mr. P. W. Senarathne, Chartered Valuation Surveyor, Former Government Chief Valuer
- Mr. Christopher Joshua, Managing Director, Access Engineering PLC
- Mr. Sujeewa Rajapaksha, Chairman, People’s Bank
- Mr. Brahmanage Premalal, Group Chairman, Prime Groups
- Mr. Dileep Mudadeniya, Vice President, John Keells Group, Head of Marketing and Events
- Cinnamon hotels and resorts The session was moderated by Mr. Dayan Gunasekara, Director Finance, Atlas Axilla Co (Pvt) Ltd.
The conference was chaired by Dr. Prathap Kaluthanthri, and the joint secretaries of ICREMV 2020 were Mr. W.H. Terans Gunawardhana and Dr. (Mrs.) H.M.L.P Karunarathne