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The future of the real estate market at the Annual Central Asian International Forum CREW Central Asia 2023 supported by the International Real Estate Federation (FIABCI)

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Specialists and market experts gathered to discuss international trends and the future of the real estate market at the Annual Central Asian International Forum CREW Central Asia 2023 supported by the International Real Estate Federation (FIABCI)

On October 18th, the CREW Central Asia 2023 forum took place at The Ritz-Carlton in Almaty, bringing together property management and construction companies, experienced experts, developers, consulting and brokerage specialists, and service providers.

The forum, held under the theme “Green & Smart Development – The Future of the Industry” served as a space for expert interaction, where industry professionals discussed current topics ranging from modern technologies and innovation implementation to the future development prospects of real estate markets, as well as methods of strategic planning, operation, and property management, and global trends. This year, we prepared even more content, with many discussions, and participants and speakers from Kazakhstan, Uzbekistan, and Kyrgyzstan discussed the challenges of city development in Central Asian countries.

Special guests of the event included representatives of Ciputra Group, a major Indonesian private conglomerate specializing in real estate, construction, and retail. The Managing Director of the company and the World President of the International Real Estate Federation (FIABCI), Budiarsa Sastrawinata, shared the plans and directions of FIABCI’s work, as well as the benefits of membership in this organization. He also talked about global real estate trends. The presentation by the World President of FIABCI at the CREW Central Asia forum highlighted not only the importance of adapting to current challenges but also the necessity of a strategic outlook on the future.

A separate highlight of the forum was the presentation of Indonesia’s new capital city by Agussurja Vijaya, director of Ciputra Group. Nusantara, a smart and sustainable “green” city – the City of Happiness, is being planned and built according to higher standards of quality, adaptability, innovation, gender equality, inclusivity, justice, sustainability, and dignity. It is planned that by 2045, Nusantara will become a city with a neutral carbon emissions level, consisting of 65% restored tropical forest and 25% highly controlled urban areas to minimize the carbon footprint and emissions.

It’s worth noting that Nusantara is currently an attractive city for investments. There are 300 investment packages available for investment in residential and commercial real estate sectors, as well as in education and transportation communications.

Even before the completion of the main urban infrastructure projects, Nusantara has established sister cities in other countries, with the capital of Kazakhstan, Astana, becoming its first sister city in July 2023.

The forum included numerous panel sessions and roundtable discussions where participants discussed important topics. The plenary session was dedicated to the creation of infrastructure in the Central Asia region and included a discussion of measures for government support of infrastructure projects.

The roundtable discussion on non-profiled and problematic assets addressed issues related to the sale and restructuring of such assets. Bank representatives proposed the creation of an investment fund to bring assets held by banks onto the market.

The session on shopping centers in Central Asia covered topics related to trends and technologies in the retail real estate and retail market.

“SMART Facility: Tools for Real Estate Operation and Management” discussed modern technologies and strategic planning in real estate management.

The session on flexible office spaces raised questions about efficiency and the customer experience in this area.

“Sharing Experience: Global Experience and Professional Standards Enhancement” covered various aspects, including land development, digital property management services, and global real estate trends.

The forum concluded with a conversation with businessman Alexander Orlov, where they discussed topics such as leasing commercial real estate for the restaurant business and other relevant subjects.

The event dedicated to the 10th anniversary of the company Forum concluded with a solemn ceremony of awarding the annual professional FIABCI-Central Asia Prix d’Excellence Awards, which is presented for achievements in the commercial and residential real estate sectors in Kazakhstan and Central Asian countries with the support of the international FIABCI Prix d’Excellence Award. The winners of the competition will represent the region at the International FIABCI Prix d’Excellence competition during the World Real Estate Congress in Singapore from May 27 to May 31, 2024.

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