Call for Papers The 13 th Asian Real Estate Society Annual Conference July 12-15, 2008, Shanghai, China Hyatt on the Bund

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Call for Papers The 13 th Asian Real Estate Society Annual Conference July 12-15, 2008, Shanghai, China Hyatt on the Bund The 13th Asian Real Estate Society (AsRES) International Conference will be held in Shanghai, China during the July 12-15, 2008 period. The conference will provide a forum for academics, practitioners and policymakers to exchange ideas on important issues in all areas of real estate markets, real estate finance, development, investment, urban economics, housing and urban planning, and regulatory policies. Participants can fully relax and enjoy the summer in the Orient, while simultaneously sharing academic and research ideas at the conference. In addition to paper sessions covering current theoretical and applied research, the conference will feature special panel sessions moderated by academicians and practitioners on issues concerning Asia s relationship with the rest of the world. The program will also feature Chinese paper sessions, poster sessions, and sessions for doctoral students. Academicians and practitioners are invited to submit and present papers in any of the above mentioned areas. Important dates: February 28, 2008: May 31, 2008: May 15, 2008: June 13, 2008: June 15, 2008: June 25, 2008: Papers or abstracts can be submitted by e-mail or by post. E-mail: asres08@shufe.edu.cn. Early-bird registration (US$325.00, including a one-year AsRES membership), US$160 for spouse. Submission of the final paper if the paper is to be included in the conference proceedings (a book, with an ISSN number). Any hotel reservation after this date will be subject to hotel availability. Submission of the final paper if the paper is to be considered for best paper awards. Submission of the final paper if the paper is to be discussed by a discussant. Confirmation of acceptance will be sent out no later than March 31, 2008. For more information about the conference, please visit http://asres2008.shufe.edu.cn.

Paper Submission: Papers or abstracts can be submitted by e-mail or by post to Professor Fang Fang (see below). Papers or abstracts must be submitted by February 28, 2008 and should provide the following information: title of the paper, corresponding author's name, institutional affiliation, complete mailing address, telephone, facsimile, and e-mail address. Contact information is requested for each additional author on the paper. Preference will be given to completed papers. Professor Fang Fang 777 Guoding Road School of Public Economics & Administration Shanghai University of Finance & Economics Shanghai, P. R. China, 200433 E-mail: asres08@shufe.edu.cn Fax: +86-21-65104294 Tel: +86-13817616619, or +86-21-65904362 Conference Registration: Early-bird registration (before May 31, 2008) for conference participants is US $325.00 per person, which includes a free one-year AsRES membership. The fee also covers conference proceedings, program brochure, free short tours, early morning coffee and tea, 5 coffee breaks, 3 lunches, 2 dinners and 1 reception. The Early-bird registration fee for spouse is US $160. Spouses are entitled to attend lunches, dinners, receptions, and free tours. Spouses can also attend the opening ceremony, but not paper sessions and industry panels. Please use the attached form for conference registration. Hotel Registration: The conference hotel is Hyatt on the Bund, Shanghai. The conference rate is about 30% of the published rate. This might be one of the best rates that anyone can find in Shanghai during the period. The conference period is July 12-15, 2008. However, if a participant wishes to stay longer in Shanghai, the conference rate applies to three days before and three days after the conference. It should be noted that any reservation after June 13, 2008 will be subject to hotel room availability. Please use the attached form for hotel registration. Tour Registration: The conference has arranged excellent tour packages during and after the conference. The packages include free shopping tours (for spouses), one free half-day tour in Shanghai during the conference period, and five long tours to China (with fees) after the conference period. The free shopping tours will be led by volunteers (most of them will be students). Spouses and their guides can decide the routes and time based on their interest. Each conference participant and spouse can choose one of three free half-day tours (Old Shanghai tour, Shanghai Culture tour, and Shanghai City-Sightseeing tour) during the conference period. The conference has organized a total of five long tours (ranging from 2 to 7 days) to other parts of China for conference participants to choose from (with fees). Note that there is a minimum number of travelers required for each tour. This means that the conference cannot guarantee that

every tour will make. The detailed (and updated) information on each tour and instructions on how to book those tours will be posted on the conference web site around March (or April) 2008. Please see the Tour Information section attached to the end of the Call for papers for the most current arrangements. About Shanghai: Shanghai, a major port city on the west coast of the Pacific, is a municipality directly under the central government. It covers 6,341 square kilometers and more than 18 million inhabitants. Within a short period of 200 years, Shanghai has evolved from a small 19th century fishing town into a modern metropolis and a renowned financial and trade center in East Asia. The Port of Shanghai is the country's largest and third largest in the world, linking more than 400 ports across 160 countries and regions. Known as the "Museum of World Architecture," the houses and buildings of Shanghai reflect classical Chinese architectures as well as styles associated with European, Japanese and modern designs. The Bund along the Huangpu River was once known as the "Wall Street of the Far East." The city's service industry now represents a growing part of Shanghai's economy. Finance and insurance, commerce, real estate, tourism and information represent key sectors for development. The Shanghai Stock Exchange and various specialized markets have developed rapidly in Shanghai. The city has the country's largest foreign exchange trading center and many foreign banks and insurance companies. It has attracted more than 20,630 direct foreign investment projects, nearly 300 of which involving high-profile multinational firms. More than half of the world's top 100 industrial companies have invested in Shanghai. Shanghai is also a historical and cultural city with a rich heritage: the beautiful Longhua Pagoda dating from 242 A.D., the exquisite Mao Pagoda built in Tang Dynasty and the Song Dynasty Huzhou Pagoda, which leans even more than the Leaning Tower of Pisa. The city has a number of Ming and Qing Dynasties gardens. The most famous is the Yuyuan Garden, which was built in 1559. Shanghai also has the Former Residence of Dr. Sun Yat-sen (founder of the Kuomintang), the Tomb of Soong Ching Ling (the wife of late Dr. Sun Yat-sen and honorary president of the People's Republic of China), and other places of historical significance such as the Jade Buddha Temple and Xujiahui Church. By population, Shanghai is the biggest city in the biggest country on Earth. According to market statistics, it is China's capital of commerce, industry, and finance. But these numbers don't tell the whole story; Shanghai has a colonial history surpassing any other city in China, with the exception of Hong Kong. This legacy gives the city a dramatic character, visible in the very facades of its buildings. But the city is not only a museum of East meeting West on Chinese soil. Overnight, Shanghai has become one of the world's great modern capitals, the one city that best shows where China is headed at the dawn of the 21st century

Hyatt on the Bund, Shanghai The 13 th Asian Real Estate Society Annual Conference Saturday to Tuesday, 12-15 July 2008 Please return by fax or email to: Mr. Davy Zhou & Ms. Sandy Zhang 199 Huang Pu Lu, Shanghai 200080 Tel: (8621) 3387 8818 Fax: (8621) 6393 9970 Group Reservations Agent E-mail: davy.zhou@hyattintl.com & sandy.zhang.shang@hyattintl.com Guest s Name [please underline surname]: Mr / Mrs / Ms Confirmation No : Arrival date : FLT/ETA : Departure date : FLT/ETD : [to be filled by Hyatt on the Bund] Room Type Published Rate Special Rate King/Twin Room CNY 3,800+ CNY 1,100+ River View Room CNY 4,000+ CNY 1,300+ Club Room CNY 4,600+ CNY 1,700+ Bund Suite CNY 6,300+ CNY 3,000+ No of rooms : The above rate is subject to 15% service charge per room per night. Transportation: Please advise if transportation is required from the airport YES NO Limousine (Audi) pick up from Hong Qiao Airport Limousine (Audi) pick up from Pudong International at CNY 400 per car one way Airport at CNY 600 per car one way Note: Transfer may only be confirmed with flight details. Billing: Reservations may only be guaranteed and confirmed when the following information are provided. Visa Diners Club MasterCard AMEX Card number : Expiry date : Name of Card Holder : Signature : Please forward this form on or before Friday, 13 June 2008. Any reservation after this date will be subject to hotel s availability. After Friday, 13 June 2008, any late cancellations or no shows will be charged the entire period of stay. The Hyatt on the Bund will confirm reservations directly with participants. 199 Huang Pu Road, Shanghai 200080 Telephone: 8621-6393 1234 Fax: 8621-6393 1313 Internet http://www.shanghai.bund.hyatt.com

Asian Real Estate Society Meeting Registration Form Shanghai, China, July 12-15, 2008 Registration Information First Name Name on Tag Title/Dept Last Name Company/University Address 1 Address 2 City State Zip Code Country e-mail Phone Fax Registration Fee Please check all appropriate boxes: Delegate (a one-year AsRES membership is included) on or before May 31, 2008 on or after June 01, 2008 Accompanying Person on or before May 31, 2008 US$325 US$380 US$160 on or after June 01, 2008 US$200 Total Fee US$ The fee covers conference proceedings, program brochure, gifts, free short tours, early morning coffee and tea, 5 coffee breaks, 3 lunches, 2 dinners and 1 reception. Payment Please make check (in U.S. dollars drawn on a U.S. bank), money order or bank draft payable to the Asian Real Estate Society or, if you prefer to charge your meeting registration to your credit card, please complete the following: Visa Name on card Card Number Expiration Date Signature Master Card Return This Form with Payment FAX TO: 301-309-6562 (U.S.) Credit Card Payment Only 24 Hours OR MAIL TO: Asia Real Estate Society 51 Monroe Street, Suite 801 Rockville, MD 20850, USA Asia Real Estate Society Registration Office, 51 Monroe Street, Suite 801, Rockville, MD 20850, USA Phone: (301) 309-6560, Fax: (301) 309-6562

Tour Information The conference will offer excellent tour packages during and after the conference. The packages include free shopping tour, free half-day tour in Shanghai during the conference and vicinity tour options after the conference. I. Free Shopping Tour: The shopping tour to NanJing Road and HuaiHai Road is designed for spouses. It will be led by volunteers (most of them will be students). This service is free. Spouses and guides can decide the detailed routes and time jointly based on their interest. II. Free Half-Day Tour Each delegate (participant and spouse) can choose one of the three free half-day tours in Shanghai, which are sponsored by local development companies. If a participant wishes to join more than one tour, he/she will need to pay a fixed fee of RMB 250 per extra tour. Below are the details of the tours. Old Shanghai Tour: Depart hotel for Yu Garden Visit the Yu Garden Visit the Old City Bazaar Back to hotel Time: Morning or Afternoon Shanghai Culture Tour: Depart hotel for Shanghai Museum Visit the Shanghai Museum Visit the Xintiandi Area Back to hotel Time: Morning or Afternoon Shanghai City-sightseeing Tour: Depart hotel for Oriental Tower Visit Oriental Tower Walk alongside the bank Back to hotel Time: Morning or Afternoon III. Long Tours to China (with fees) The conference has organized a total of five long tours for conference participants to select from. Note that there is a minimum number of travelers required for each tour and that the tour prices are based on 2007 tours (the actual price for 2008 tours might change). 1, Tour A: Xian Two days Day 01: Shanghai Xi an (Lunch, Dinner) Take a morning flight to Xi an, Visit: Ancient City Gate, Shananxi Historical Museum, Big Wild Goose Pagoda in the afternoon. Overnight stay in Xi an

Day 02: Xi'an, (Breakfast, Lunch) Visit: the Terra Cotta Warriors, the Huaqing Hot Spring, Fly back to Shanghai. I: Price on twin room basis per usage of 4-star hotels: RMB4600 or USD657 / pax Single room supplement : RMB 380 or USD55/pax Hotel: Tang Cheng Hotel Xian or similar II: Price on twin room basis per usage of 5-star hotels: RMB4750 or USD679 / pax Single room supplement: RMB530 or USD76/ pax Hotel: Sheraton Xian or similar Transportation: domestic air tickets: Shanghai Xi an - Shanghai and Private air-conditioned coach for ground travel Entrance fees en route 2, Tour B: Beijing Three Days Day 01: Shanghai Beijing (Lunch, Dinner) Take a morning flight to Beijing Visit: Forbidden City, Tiananmen Square. Overnight stay in Beijing Day 02: Beijing (Breakfast, Lunch, Dinner) Visit: Great Wall and Ming Tombs. Overnight stay in Beijing Day 03: Beijing (Breakfast, Lunch) Visit: Summer Palace, Temple of Heaven Take international flight back to home in the late afternoon. Tour ends in Beijing I: Price on twin room basis per usage of 4-star hotels: RMB4580 or USD655 / pax Single room supplement : RMB980 or USD140/pax Hotel: Holiday Inn Downtown Beijing or similar II: Price on twin room basis per usage of 5-star hotels: RMB5030 or USD718 / pax Single room supplement RMB1430 or USD204/ pax Hotel: Holiday Inn Crown Plaza Beijing or similar Transportation: domestic air tickets: Shanghai Beijing and Private air-conditioned coach for ground travel Entrance fees en route 3, Tour C: Hangzhou Three Days Day 01: Shanghai Hangzhou(Lunch, Dinner) Take a morning train to Hangzhou Visit: Lingyin Monastery, Flying Peak, Temple of Yuefei. Overnight stay in Hangzhou Day 02: Hangzhou (Breakfast, Lunch, Dinner) Visit: West Lake Cruise, Three Pools Mirroring Moon, Six Harmony s Pagoda, Dragon Well Tea Plantation. Overnight stay in Hangzhou Day 03: Hangzhou Shanghai (Breakfast) Take morning train back to Shanghai. Tour ends in Shanghai I: Price on twin room basis per usage of 4-star hotels: RMB1880 or USD269 / pax Single room supplement: RMB480 or USD69/pax. Hotel: Lakeview Hotel Hangzhou or similar II: Price on twin room basis per usage of 5-star hotels: RMB2680 or USD383 / pax Single room supplement RMB1280 or USD183/ pax. Hotel: Sofitel West Lake Hotel Hangzhou. Transportation: domestic air tickets: Shanghai Hangzhou and Private air-conditioned coach for ground travel

Entrance fees en route 4, Six Day Tour D: The Nature Trail Yunnan Day 01: Shanghai Kunming (Lunch, Dinner) Take a morning flight to Kunming, Visit: the Western Hill, the lesser-known Bamboo Temple. Overnight stay in Kunming Day 02: Kunming - Dali (Breakfast, Lunch, Dinner) Take a morning flight to Dali, Take a cable car ride to the Cangshan Mountain. Visit: the Chinese style Catholic Church, Three Pagodas, Old Walled Town and Erhai Lake. Overnight stay in Dali. Day 03: Dali - Lijiang (Breakfast, Lunch, Dinner) Transfer to Lijiang by bus in the morning. Lijiang: visit the Black Dragon Pool Park and the Lion Hill. Overnight Stay in Lijiang. Day 04: Lijiang (Breakfast, Lunch, Dinner) Morning: A short chair-lift ride to the Jade Dragon Snow Mountain. Afternoon: An orientation tour in Lijiang Charming Old Town. Evening: Enjoy elderly musicians of the original Naxi Orchestra. Overnight stay in Lijiang Day 05: Lijiang - Kunming (Breakfast, Lunch, Dinner) Take a morning flight to Kunming. Visit the Stone Forest. Overnight stay in Kunming Day 06: Kunming - Shanghai (Breakfast) Transfer to Kunming airport for flight to Shanghai. Tour ends when arriving in Shanghai I: Price on twin room basis per usage of 4-star hotels: RMB9680 or USD1383/pax Single room supplement: RMB1500 or USD215/pax Hotel: Jing Hua Hotel Kunming or similar. Asia Star Hotel Dali or similar. Grand Hotel Lijiang or similar II: Price on twin room basis per usage of 5-star hotels: RMB10950 or USD1565/pax Single room supplement : RMB2780 or USD397/pax Hotel: Kaiwah Plaza International Hotel Kunming or similar. Asia Star Hotel Dali or similar. Guan Fang Hotel Lijiang or similar III: Price on twin room basis per usage of 5-star hotels: RMB12950 or USD1850/pax Single room supplement : RMB4780 or USD683/pax Hotel: Kaiwah Plaza International Hotel Kunming or similar. Asia Star Hotel Dali or similar, Banyan Tree Hotel Lijiang or similar Transportation: domestic air tickets: Shanghai Kuming- Dali & Lijiang Kunming Shanghai and Private air-conditioned coach for ground travel Entrance fees en route 5, Seven Day Tour E: Treasures of Sichuan Chengdu & Jiuzhaigou Day 01: Shanghai Chengdu (Lunch, Dinner) Take a morning flight to Chengdu Visit: the Giant Panda Research Base, the Temple of the Marquis of Wu Overnight stay in Chengdu Day 02: Chengdu (Breakfast, Lunch, Dinner) Visit: the 2000-years-old irrigation scheme at Dujiangyan & the Sanxingdui Museum Overnight stay in Chengdu Day 03: Chengdu Leshan Chengdu (Breakfast, Lunch, Dinner) One day excursion to Leshan to visit the Great Buddha Overnight Stay in Chengdu Day 04: Chengdu Songpan, Jiuzhaigou (Breakfast, Lunch, Dinner)

Drive to the quaint Tibetan town of Songpan for a brief visit. Continue drive to Jiuzhaigou Overnight stay in Jiuzhaigou Day 05: Jiuzhaigou (Breakfast, Lunch, Dinner) In this region are dozens upon dozens waterfull and colourful lakes. Enjoy this uniquely beautiful corner of Sichuan Overnight stay in Jiuzhaigou Day 06: Huanglong - Chengdu (Breakfast, Lunch, Dinner) Morning drive to Huanglong, Yellow Gragon Valley. Afternoon flight back to Chengdu Overnight stay in Chengdu Day 07: Chengdu Shanghai (Breakfast) Transfer to Lhasa airport for flight to Shanghai Tour ends when arriving in Shanghai I: Price on twin basis per usage of 4-star hotels: RMB13800 or USD1972/pax Single room supplement: RMB2100 or USD300/pax Hotel: Chengdu: Tibet Hotel Chengdu or similar Jiuzhaigou: Minjiangyuan International Hotel Jiuzhaigou or similar II: Price on twin basis per usage of 5-star hotels: RMB15300 or USD2186/pax Single room supplement : RMB3600 or USD515/pax Hotel: Chengdu: Sheraton Hotel Chengdu or similar Jiuzhaigou: Sheraton Jiuzhaigou or similar Transportation: domestic air tickets: Shanghai Chengdu Shanghai + Huanglong Chengdu and Private air-conditioned coach for ground travel. Entrance fees en route IV. Contact Information The detailed (and updated) information on each tour and instruction on how to book for the tours will be posted on the conference web site around March (or April) 2008. However, if you have any questions on the long-tour arrangement, please contact: Ms. Vikki Wu Tel: 0086-21-62995711 Fax: 0086-21-62476390 Mobile: 0086-13801663875 Email: wum@ctish.cn