Asia-Pacific property sector standard tackled in handbook

The Asian Public Real Estate Association (Aprea) which represents the real estate sector across Asia Pacific, has launched its best practices handbook to tackle the concerns about fragmentation in the Asian real estate markets, lack of unity and to influence greater harmonization in standards and industry practices.

Peter Mitchell, chief executive officer of Aprea, said these concerns have been rightly seen as impediments to greater investment in real estate in Asia.

“We hope that this handbook will help tackle these problems and encourage a better investing environment for the region’s public and private real estate sector,” he added.

“Investors express concerns about different approaches around the region to matters like reporting, corporate governance and valuation standards and so, conversely, greater regional uniformity will lead to greater investor confidence and higher investment levels,” Mitchell said.–Daily Tribune