NEW YORK CITY—Demand will continue to be driven over timethrough a growing awareness of the benefits that IPMS, or theinternational property measurement standard, offers in providingcomparable information from one market to the next. That isaccording to Neil Shah, New York City-basedmanaging director of the Americas at RICS, part ofthe International Property Management Standards Coalition, whorecently spoke with GlobeSt.com on the subject.
GlobeSt.com: What are the driving factors thatrequire these new property measurement standards?
Neil Shah: This is all about providinggreater transparency and consistency to global real estate markets,whether for investors, developers, owners, occupiers and managers.Historically, real estate has been measured differently throughoutthe world with existing standards leading to measurementdifferences of up to 24%. If the measurement of a property isinconsistent, then ultimately the valuation of the property is alsoundermined, and it is difficult to project and manage operatingcosts across a portfolio. This fundamentally undermines the abilityto compare 'apples with apples' across different markets.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
