THE CONFERENCE PROGRAMME

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1 THE CONFERENCE PROGRAMME 20 of October Registration. Breakfast Is the Polish economy already in the recovery phase and when will our housing sector feel it? Prelegent: Marek Zuber, Polish economist, financial markets analyst, expert and financial consultant Why is it so hard to realize consistent, long-term housing policy in Poland? For several years, the government s residential policy has mainly taken the form of promises during electoral campaigns, and rare assistance programmes have been prepared in such a way that they have only compounded the effects of the business cycle instead of mitigating them. The current forms of housing support seem to compete with each other for the same recipient, instead of attracting the largest possible groups of those interested. Why is it so and when will this Augean stables be cleaned up? Apartment for Young Adults what changes are in the pipeline and will the programme also involve the secondary market? The Housing Rental Fund a real competition to developers? Is it possible to enter housing for rent, for moderate rents? Successful housing support programmes in Western countries examples Moderator: Kazimierz Kirejczyk, president, REAS Piotr Kuszewski, Investment Director, Bank Gospodarstwa Krajowego Full profesor Marek Bryx, Vice-Rector, Head of the Investment and Real Estate, Szkoła Główna Handlowa Sławomir Najnigier, President of City Consulting S. Najnigier Sp.j., former Vicepresident of Wroclaw Senior Housing, why older people in Poland are still fated to so called "retirement homes" Forecasts showing the process of accelerated aging of the Polish society have been appearing in publications and remarks of demographers and politicians for many years now.

2 The process in particular threatens the stability of the pension system and risks slowing down the country s economic growth, but it will also have a significant impact on many other areas of the Polish economy and social life. This includes the residential sector, understood both as managing existing resources and building new apartments. What new opportunities does the situation create for developers and financial institutions? What conditions must be met for the sector of housing for the elderly to expand significantly in Poland? Prelegent: Dr Władysław Jan Brzeski, Partner, FRICS Coffee break Orange FTTH - technology of the tomorrow at your home today Prelegent: Paweł Barej, High Speed Internet Department Manager, Orange Poland 12:10 12:40 Poles choose development flats report The findings from the latest edition of one of the biggest research projects - TNS Polska for otodom.pl, including the most recent developments in the sector Agata Polińska, Expert, otodom.pl Aleksandra Kubicka, Expert, otodom.pl Corporate bonds Upper Finanse Consulting Prelegent: Iwona Załuska, President of the Management Board, Upper Finance Consulting It s good, but for how long? the current demand for mortgage loans and factors that could reduce it in the near future People taking out mortgage loans can enjoy record low interest rates and relatively low loan servicing costs, the situation in the labour market is also improving. But, as surveys by the Polish Bank Association show, both the number and value of loans have been decreasing. Why is it so? When will interest rates start moving up already in 2014? What will be the effects of the increase in the level of mandatory own contribution to 10, 15 and 20 percent on the demand for mortgage loans? Class actions against banks can they affect the criteria for granting mortgage loans? Moderator: Karol Mórawski, Journalist, monthly Bank Andrzej Reich, Director of the Banking, Payment Institutions and Credit Unions Regulations Department, Polish Financial Supervision Authority

3 Andrzej Rzońca, Member of the Monetary Policy, Narodowy Bank Polski dr Jacek Furga, Chairman of the Housing Finance Committee, Polish Bank Association Agnieszka Krawczyk, Head of the Mortgage Office, PKO Bank Polski SA Paweł Komar, Member of the Board of Home Broker, Managing Director Open Finance Lunch break After work, onto the beach the apartment market in the Tri-City The Tri-City residential market may look like an almost idyllic place to developers from other cities in Poland. The linear system of the agglomeration, connected by Fast City Rail and an ever-expanding network of expressways, means that the division into prestigious and unpopular locations is blurring more and more. The proximity to the sea means that developers often locate their hotel and residential projects here as well. Low thresholds for new apartments to qualify for purchase through the Apartment for Young Adults mortgage subsidy programme could be an additional incentive for new investments. Will the Tri-City s run of good luck continue in 2015, too? Presentation: Katarzyna Kuniewicz, Head of the Market Analysis & Research team, REAS Moderator: Zygmunt Żmuda-Trzebiatowski, Regional Sales Director Tricity, Morizon S.A. Andrzej Biernacki, President of the Management Board, EKOLAN Marek Pirsztuk, Member of the Board, Invest Komfort Bartosz Jankowski, Head of Primary Market Department, Home Broker Finish "turnkey" a sales tool for developers Prelegent: Michał Szymański, Sales Specialist, Decoroom Cooperative enterprises build a better world Prelegent: Ewa Szul-Skjoeldkrona, communication, ANG Spółdzielnia Doradców Kredytowych There can be only one king the capital s residential property market Warsaw s position as the leader of our residential market remains unchallenged more than 2.5 million people live here, including suburban towns, and the number keeps growing thanks to the highest average earnings, a low unemployment rate and a wide range of educational and cultural activities. Besides the very affordable Białołęka and Ursus, the recently discovered by developers Wola and Praga Południe also enjoy great popularity. Companies building in the capital do not have to worry about sales in some locations demand for apartments is so high that prices have started to creep up. Will other cities follow the Warsaw market s example? Presentation: Katarzyna Kuniewicz, Head of the Market Analysis & Research team, REAS

4 Moderator: Marek Wielgo, journalist, Gazeta Wyborcza Jacek Wojciechowicz, Deputy Mayor, City of Warsaw Józef Wojciechowski, Chairman of the Board, J.W. Construction Holding Jacek Bielecki, Director of Quality, Marvipol S.A. Zbigniew Wojciech Okoński, President of the Management Board, ROBYG S.A. Mariusz Kania, President of the Management Board, Metrohouse 21 of October Registration. Breakfast Is rental market in Poland ready to enter developers? Special Guest: Artur Kaźmierczak, President of the Management Board, MZURI Investments in Wawel s shadow the condition of the property market in Kraków The Kraków residential market has had to deal with the slowdown without government lifelines finding a place meeting the price criteria of, first, Family on its Own, and now, Apartment for Young Adults was and still is extremely difficult here. The tourist reputation of Krak s town has also dimmed somewhat foreign demand for flats and apartments for rent in attractive locations is lower than just a few years ago. However, just like in other large agglomerations, the Kraków market showed clear signs of recovery in the first half of Are the good times for developers back again? Presentation: Karol Dzięcioł, Heads the Development Advisory & Valuation team, REAS Moderator: Konrad Mitręga, Financial Advisor, Private Brokers Michał Bojar, Sales Director, Błonia Residence Artur Pietraszewski, Sales Director, FUTUREAL Monika Szymańska, Branch Director, INDEPRO Piotr Krochmal, analyst and consultant, President of Instytut Analiz Monitor Rynku Nieruchomości KONE Way Prelegent: Bartosz Kuta, Branch Manager, KONE Coffee break

5 To develop Fabryczna and Psie Pole the residential sector in Wrocław Wrocław, which places near the top in standard of living rankings, maintains a high growth rate, cares about its tourist attractiveness, creates many new jobs as the BPO/SSC sector continues to grow, draws young people not only from Lower Silesia. As Krzyki and Śródmieście have been built up, developers increasingly eye the city s more affordable districts. How will the situation in the Wrocław apartment market develop in the coming 12 months? Presentation: Karol Dzięcioł, Heads the Development Advisory & Valuation team, REAS Moderator: Marek Dornowski, editor in Chief, ESTATE magazine Tomasz Sujak, Sales Director, Archicom Holding Wojciech Kubiak, Regional Director, Metrohouse in Wroclaw Gianmaria Bernardi, President of the Board, Studio Architektoniczne OZONE Czaus Bernardi Sp. z o.o KAN-therm system - innovative and complex instalation solution. Support program for developers. Prelegent: Magdalena Giermasz, KAN-therm system project manager, KAN I m building and expecting a road difficult relations between developers and local governments during the development of housing projects and associated public utilities Access to a public road is a sine qua non condition to create a new residential project. As the largest cities in Poland are running out of attractively located plots with developed infrastructure, developers are moving to the suburbs, where good roads are often missing. This is where jostling with local authorities begins, and often goes on for years. How to prevent it? The current regulations on putting public roads on local development plans and proposed changes Why there are still no buses running here? controversies associated with bringing public transport to new residential projects Examples of successful cooperation between developers and local authorities on building transport infrastructure Moderator: Przemysław Kucharski, Partner, Real Estate and Construction Department, CMS Cameron McKenna Mieczysław Reksnis, Director of Office of Roads and Communication, City of Warsaw Tymon Nowosielski, Technical Director, Bouygues Immobilier Polska

6 Elżbieta Wiczkowska, President of the Management Board, Celtic Property Developments Polska Lunch break Connecting investors on the example of housing project Prelegent: Magdalena Węcławek, Regional Sales Director in the Investment Projects Department, Home Broker Back to normality analysis of the situation in the Poznań residential market Greater Poland s developers have resisted the temptation to put as many apartments on sale as possible before the entry into force of the so-called new developer act. Thanks to this, they have the means to appropriately adjust the supply to the increased demand. A relatively high level of the price criterion for the Apartment for Young Adults programme also encourages bringing new projects the vast majority of new apartments in Poznań can be purchased through a government-subsidized loan. Will local developers take advantage of this moment in the market? Presentation: Karol Dzięcioł, Heads the Development Advisory & Valuation team, REAS Moderator: Barbara Kwiecińska-Kielczyk, editor in Chief, poznanskie-nieruchomosci.pl Przemysław Silski, President of the Board, Masterm Invest Piotr Barełkowski, co-owner, Iron Tower Investments Magdalena Deszczyńska, Sales Director, Nickel Development Krzysztof Kruszona, President of the Management Board, Agrobex Jarosława Ejsymont, President of the Management Board, Wielkopolskie Stowarzyszenie Pośredników w Obrocie Nieruchomościami When will the developer act treat developers fairly? The current state of procedures to introduce amendments to the act The developer act from April 2012 undoubtedly strengthened the protection of the rights of apartment buyers, but was not without its flaws, which increased the risk to the seller. The act provided for the possibility to introduce amendments after the new law has been in force for two years when will legislators use this option? Findings from the Office of Competition and Consumer Protection s analysis of the functioning of the regulations introduced by the act The issues of reservation agreements, detailed provisions on drafting a prospectus, responsibility of banks which amendments should be introduced as soon as possible? When will the residential projects started before the act s entry into force come to an end? What changes to the act would persuade banks to expand their offer of escrow accounts?

7 Moderator: Paweł Kuglarz, Partner, law firm Wolff Theiss Bolesław Meluch, Adviser to the Board, The Polish Bank Association Konrad Płochocki, General Director, Polski Związek Firm Deweloperskich The conclusion of the conference. Business mixer