The Association of Real Estate Funds (AREF), the British Property Federation (BPF) and the Investment Property Forum (IPF) are in talks on forming a new association.
According to the trio, the vision is to amplify the voice of the sector via a larger organisation which encompasses all UK real estate.
A ‘shadow board’ has been established with representatives from each organisation, with a view to forming a concrete proposal in 2025.
Each association will consult with their own members over the next few months.
The Association of Real Estate Funds is said to have focused on improving access for defined contribution pension schemes, regulating net zero and retrofitting, and advancing the housebuilding and regeneration agenda.
The British Property Federation has focused on issues like digitalisation, co-living, life sciences and data centres.
Meanwhile the Investment Property Forum has looked into regulation and legislation, particularly regarding ESG (Environmental, Social, and Governance) matters.
In 2017 a similar merger took place, as UK Finance was established by merging the bodies of the British Bankers’ Association, Payments UK, the Council of Mortgage Lenders, the UK Cards Association and the Asset Based Finance Association.
While UK Finance has become a well known association since the merger took place, it’s thought the identities of some of the previous organisations were swallowed up, owing to the creation of a larger more corporate organisation.
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Anne Breen, chair of the Association of Real Estate Funds, said: “Our members and their investors play a crucial role in building the UK by providing essential funding. To do this effectively, they need a strong and influential voice to shape policy and regulation positively.
“Over the past few years, AREF has made significant progress in making our voice heard and achieving policy results.
“We’ve focused on improving access for defined contribution pension schemes, regulating net zero and retrofitting, and advancing the housebuilding and regeneration agenda.
“Throughout this journey, we’ve closely collaborated with both BPF and IPF, and we’re now committed to strengthening our voice together to achieve these goals and more.”
Jessica Hardman, chair of the British Property Federation said: “Our sector is changing. Whether that’s the different way in which many of us run our businesses, or the impact of digitalisation, or the emergence and growth of new asset classes such as single family housing, co-living, life sciences and data centres.
“In response to this change the BPF is already working hard to deliver a programme of continuous development and improvement, but the BPF Board I chair believes we can go even further working with the Boards of AREF and the IPF to deliver a new larger body building on the strengths of each individual organisation.”
Clare Thomas, chair of the Investment Property Forum, said: “The IPF’s Mission is to advance the understanding and efficiency of real estate as a major investment asset class.
“To achieve this, collaboration with other industry organisations, particularly the Association of Real Estate Funds (AREF) and the British Property Federation (BPF), is essential.
“The market is facing significant structural changes, including new participants (both domestic and global), shifting investor priorities, new favoured sectors and increasing regulation and legislation particularly regarding ESG matters, reporting frameworks, corporate structures etc.”
