Global standards for a global world: Greater standardization leads to greater success
If ever there were a time for greater alignment across the real estate investment landscape, it’s now. As the flow of cross-border capital intensifies, standardization of processes and metrics, as well as greater commonality of definitions and categorization, across the world have become watchwords for the industry’s continued success.
From valuations to performance measurement to the structure of fees and costs, it is critical the industry deepen its adherence to best practices, redouble its commitment to disclosure and enhance the ease of comparability.
For the past three years, industry associations INREV, NCREIF, PREA and ANREV, working in close collaboration, have powered the progress that’s continuing to be made. Since 2018, when a first global consultation paper was released, the Global Standards Steering Committee, comprising representatives from each of these associations, has galvanized the industry around a thorough exploration of best practices for th