INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has launched new industry guidelines at its annual conference in Berlin.
INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has launched new industry guidelines at its annual conference in Berlin.
The revised INREV Guidelines are the result of a full-scale review, the first since the original set of guidelines were developed in 2005 and formally integrated in 2008, before the onset of the financial crisis.
The review process included 18 months of industry consultation and engagement with over 300 industry players and organisations across three continents. As a result, a number of 'substantive' changes have been made particularly in the areas of corporate governance, liquidity and reporting.
INREV expects that these updates will increase transparency in the non-listed real estate sector, driving further possibilities for benchmarking and performance analysis.
Structurally, the guidelines have been completely overhauled to become more accessible and user-friendly. In its new online format the guidelines tool is organised into modules so that content can be easily referred to and implemented by individual organisations. Separate modules can now be reviewed and new ones added at any time, meaning that guidance can quickly be updated in response to market or industry changes.
'We have now been through a full financial cycle since the guidelines were first formalised and in that time we have seen increased industry demand for information and reporting. It was clear to us that there was not only a need to update the INREV Guidelines but to ensure that they could respond to market changes,' commented Lonneke Löwik, INREV’s director of Professional Standards. 'Our intention is for the revised guidelines to be a dynamic tool so that, together with our members, we can further improve transparency and professionalism across the sector.'
