The 5th International Conference on Real Estate Management and Valuation (ICREMV 2021)

The 5th International Conference on Real Estate Management and Valuation (ICREMV 2021) 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 on 7^th and 8^th of October 2021 via Zoom as a virtual conference, under the theme of “SMART Real Estate: Towards Unmet Socio-Economic Needs”. The conference was chaired by Dr. Prathap Kaluthanthri, and the co-secretaries of ICREMV 2021 were Prof. (Rtd). Janakie Edirisinghe and Dr. Chameera Udawattha. The conference was well-received by an audience of 500 plus participants including practitioners, academics and students.

The key events of ICREMV 2021 were the Inauguration, Academic Session, Industry Dialog, and Real Estate Talk. The conference was reinforced in organizing with the collaboration of both academic and industry partners. The academic partner of the conference was the School of Architecture and Design, King Mongkut’s University of Technology, Thonburi, Thailand. The collaborative partners were the Government Valuation Department, Urban Development Authority, Colombo Municipal Council, Institute of Valuers of Sri Lanka, Royal Institution of Chartered Surveyors Sri Lanka, EMV RCB Club and EMV Crew.

First session of the First Day of the Conference (07^th October 2021) – 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”.

The inauguration session was glorified by the Keynote Speaker, Professor Neil Crosby, Professor of Real Estate, Department of Real Estate and Planning, University of Reading, United Kingdom, one of the renowned professor in the field of real estate, under the theme of “International Real Estate Valuation Theory, Policy and Practice”.

Second session of the First Day of the Conference (07^th October 2021) – 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 “How the Urban Real Estate Economy Is Shaping After the COVID 19 Pandemic”, delivered by Dr. Shanaka Herath, School of Built Environment, Faculty of Design, Architecture & Building, University of Technology Sydney, Australia and the Session II keynote speech was delivered by Dr. Kanjanee Budthimedhee, School of Architecture and Design, King Mongkut’s University of Technology Thonburi, Thailand, under the theme of “Creating Shared Values of Urban Waterfront Real Estate: A Case Study of Bangkok Canal Network”.

First session of the Second Day of the Conference (08^th October 2021) – The Industry Dialogue consisted of the delivery of four insightful speeches by industry experts along with a panel discussion under the valuable and timely theme of “Resilience and Adaptability of Hospitality Real Estate: Lessons and Strategies in the context of Hotel Valuation Techniques”. The dignitaries who joined the session are:

1. Chartered Valuation Surveyor Mr. PW Senarathne Former Chief Valuer, Government Valuation Department, Sri Lanka
2. Chartered Valuation Surveyor Mr. D Prathapasinge, Secretary of Royal Institution of Chartered Surveyors – Sri Lanka
3. Bhagya Mahavithanage, Deputy Director – Investor Relations, Sri Lanka Tourism Development Authority
4. Kushan Pathiraja, Director – Finance, Cinnamon Life Integrated Resort

The session was moderated by Chartered Quantity Surveyor Mr. Shihaan Burah, Chairman of Royal Institution of Chartered Surveyors – Sri Lanka.

Second session of the Second Day of the Conference (08^th October 2021) –  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: “The Next Wave of Real Estate Growth” in which the audience could listen and interact. The panel consisted of the following dignitaries:

1. Russel Dandeniya, President, Sri Lanka Institute of Architects
2. Namal Peiris, Chief Executive Officer, International Construction Consortium (Pvt) Ltd
3. Yamuna Jayaratna, Director – Sales & Marketing, Port City Colombo
4. Plnr E.A.C. Piyashantha, Deputy Director General, Urban Development Authority
5. (Mrs) Nishani Wickrmaarachchi, Senior Lecturer, Department of Estate Management and Valuation

The session was moderated by Dr. Upuli Perera, Head Department of Estate Management and Valuation, University of Sri Jayewardenepura.