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Dr. DARIN GUNESEKERACapital Markets for the Marginalized Inc.(CMM)
AFFORDABLE HOUSING THROUGH CAPITAL MARKETS
如何通过资本市场提供经济适用房
我的人生：成为一名社会企业家Becoming a Social Entrepreneur: My Journey
换位思考的重要性The Importance of Empathy
我们遇到的问题The Problem
(c) CMM 2014(c) CMM 2006 8
贫民窟：向上移动的移民Slums: Upwardly Mobile Migrants
城市和村庄之间的困惑“Stuck” Between Villages and Cities
住房危机出现了The Affordable Housing Crisis
私营部门：住房贷款Private Sector
Housing Loans founded on risk
城市的高速发展Rapid City Growth
Rich get richer, poor get poorer
国际性组织：世界银行World Bank
Keeps people in slums through onsite upgrade
现有住房短缺Shortage of Decent Housing
贫民窟的增长速度超过了经济Slums Growing Faster than Economy
家，不应成为奢侈品Homes Should not be a Luxury Good
(c) CMM 2014(c) CMM 2006 13
Key -Land Cycle Process.
First vacant or acquired land (Trust 1) 1
Occupied Estates:(Trust 2, 3 of Cycle 2) 2 3
Occupied Estates:(Trust 4..7 of Cycle 3)
4 5 6 7
Land Cycle 1
Land Cycle 2
Land Cycle 3
– projects exchanges new units for vacant possession of old units– New units must be more attractive to encourage the move
Slums occupy 600 sq ft ground cover/ unit; planned units only 110 sqft
社会房屋居民Social
HousingResident
空置房屋Vacant Possession
分享Shares
权威机构Authority
提交Land
分享Shares
信托机构TRUST
解决方案：社会房地产投资信托基金 (S-REIT)The Solution： Social Real Estate Investment Trust (S-REIT)
请翻译这里请翻译这里请翻译这里Start with a compact city area re-development project plan
请翻译这里请翻译这里请翻译这里Existing Social Housing residents approve the plan
请翻译这里请翻译这里请翻译这里This facilitates a Trust market deal
between the landowner (Authority) and social housing residents.
S-REIT ：一个资本市场S-REITS: A Capital Marketplace
投资者权威机构
个体 / 组织Investors
Authority,Individual,Institutional
中介机构 EXCHANGE
投资交易Trade via
InvestmentBanks
分享Shares
正在进行的股票交易市场On-going Stock Exchange Market
投资者权威机构
个体 / 组织Investors
Authority,Individual,
Institutional
中介机构 EXCHANGE
现金交易 Cash via
InvestmentBanks
分享Shares
SREIT 是由投资者和土地 / 购房者构成他们将股票变现为现金或土地 / 房屋SREIT is financed by investors and land/ home buyers.
Shares liquidate into cash or land/ homes
包括特定的房子 / 公寓的所有权的权利Includes right to ownership of a specific house / flat
人民证券交易所The People’s Stock Exchange
成果The Result
675 套为贫民窟居民设计的高层公寓675 apartments in first ever high rise
by slum dwellers, designed by the residents
4000 人被重新安置4000 people vacated and re-located
金融利息：解决了利润的来源Financial Returns： Unlocking the Profit in the Land
投资： 600 万美元Investment: SLRs600M (USD6M)
社区外收益（利息）： 1700 万美元Outside Community Sales (Financial Return): SLRs1700M (USD17M)
社会影响：改善了人民生活Social Impact： Changing the Lives of People
两个亚洲高人口密度城市中心，做个选择 ！Two actual pictures of Asian High Population Density City Center areas. There is a CHOICE!!
这种现象可能取决于社会企业家的能力而不是开发者 / 承包商的能力Which happens may depend on
Social Entrepreneur’s Ability Not developer/contractor ability.
总结Summary
请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译Social REIT is a technical breakthrough where the solution is expressed in standard capital market terms for a technical concept
请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译请翻译The Trust objective is to re-plan the LAND to provide decent quality housing and area development for persons at low levels of income in growth areas.
请翻译请翻译请翻译请翻译请翻译请翻译It is NOT based on State spending but provides PROFIT to the State & relieves it of welfare burdens.
请翻译请翻译请翻译请翻译请翻译请翻译It is based on regulated markets; NO ROLE Required for Foreign Donors nor NGOs.
请翻译请翻译请翻译请翻译请翻译请翻译It depends on a Empathic Social Entrepreneur Catalyst & Doer.
在中国的实践Applications in China
城中村Urban Villages
人口迁移Migration
中国企业的机会Opportunity for Chinese Firms
中国企业是发展中国家的主要项目来源Chinese firms are a major project source for developing countries
许多专家希望出国工作Many professionals wanting to work abroad
真正的机会在于房屋建设和创造改变Opportunity to do meaningful housing projects and create real change!
