Land Securities has been an Associate member of PISCES since 2002 and has lent its support during that time. By moving to Executive membership Land Securities will be bringing the expertise and influence of one of the largest of the United Kingdom’s quoted property companies to the policy forming level of the organisation.
Chris Willsea, IS Programme Manager of Land Securities, said: “As PISCES’ future in all aspects of property related data, reporting and record keeping is becoming increasingly assured, we are pleased to be joining our fellow industry leaders in working towards universal adoption of the standard. We believe that the whole industry will benefit from the efficiencies that the PISCES standard brings”
Adam Ward, Chairman of PISCES said: “This is a further sign of the growing importance of the PISCES standard in the property industry’s modernisation, driven by the need for efficiency, liquidity and transparency.
During the last two years we have shown that the property industry can act together for the common good. We have updated our standards in the original valuation data fields, added extensions to cover financial transactions, leasing, sales and purchases. We are now well advanced in the introduction of a residential capability and expect to be making major announcements in the coming weeks and months relating to both our national and global ambitions.
With the addition of Land Securities the fund management and owners element of the Executive membership alone will account for a total value under management of around £58bn, over 25% of the total institutional market in the UK. The network of advisers and suppliers that deal with these organisations can all benefit from their foresight.”
All information about the PISCES standard, including the list of members, is available on-line at http://www.pisces.co.uk
