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PROFESSOR JOSEPH T.L. OOI
VICE DEAN (ACADEMIC), SCHOOL OF DESIGN AND ENVIRONMENT; DEPUTY DIRECTOR (DEVELOPMENT), INSTITUTE OF REAL ESTATE STUDIES; & PROGRAMME DIRECTOR, GRADUATE CERTIFICATE IN REAL ESTATE FINANCE (GCREF)
National University of Singapore
4 Architecture Drive, Singapore 117566

 
  Appointment: PROFESSOR
  Office: SDE1-05-14
  Email: rstooitl@nus.edu.sg
  Tel: 6516 3439
  Fax: 6774-8684
  Homepage: http://profile.nus.edu.sg/sde/rstooitl/
  Curriculum Vitae (CV):
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Joseph Ooi is the Vice Dean (Academic) in the School of Design and Environment (SDE) at the National University of Singapore (NUS). He is also a Fellow of the NUS Teaching Academy, which is a unit established under the Office of Provost to spearhead effort in promoting excellence in teaching and learning at NUS. A former programme director for the M.Sc. in Real Estate, Joseph started the MBA with Specialization in Real Estate and served as its pioneering director from 2004 to 2006. He also served as Deputy Head (Academic) of the Department of Real Estate from 2014 to 2016, and as an external examiner for the University of Reading's master programmes in real estate (2011-2014).

A highly versatile teacher who excels at teaching a broad range of subjects, Joseph is equally adept at teaching undergraduates, graduates and executives. He has conducted training courses for real estate organizations including Ascendas, Frasers Centrepoint, Keppel Land, JTC Corporation, Real Estate Developers’ Association of Singapore (REDAS), Singapore Land Authority, Singapore Tourism Board, Urban Redevelopment Authority (URA), Sama Dubai and the Egyptian Real Estate Academy. In 2011, he started the Graduate Certificate in Real Estate Finance, which is a structured executive programme seeking to bridge knowledge in the real estate and capital markets. In 2012, Joseph received the NUS Outstanding Educator Award, which is the highest honor for teaching in the university.

Joseph has published more than 50 peer-reviewed papers on Real Estate Investment Trusts (REITs) and Real Estate Development in top real estate journals, such as Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, Urban Studies, Regional Science and Urban EconomicsJournal of Regional Science, and Journal of Money, Credit and Banking. Joseph has won more than fifteen international best paper awards, and is a former recipient of the prestigious NUS Young Researcher Award. In recognition of his acknowleded outstanding and impactful scholarly accomplishments, Joseph was conferred the Dean's Chair in 2015. He has also been invited to become a Fellow Candidate of the US-based Weimer School of Advanced Studies in Real Estate and Land Economics for his significant contributions to the development and dissemination of knowledge in real estate.

Joseph won the 2008 International Real Estate Society’s Achievement Award for outstanding contribution to research, education and practice at the international level. Serving on the editorial board of nine international real estate journals, he has received three outstanding awards for his service as a peer reviewer. Joseph is a director of the Asian Real Estate Society as well as the Associate Executive Director of the International Real Estate Society.

Prior to joining NUS, Joseph has extensive working exposure in the local, regional and international real estate markets. He holds B.Sc. and M.Sc. degrees in Real Estate from NUS and a PhD from the University of Manchester (formerly UMIST).


 
  • Real Estate Investment Trusts (REITs)
  • Real Estate Development Strategies
  • Price Dynamics in Urban Land and Housing Markets

 

Ph.D. in Real Estate Finance, University of Manchester (formerly UMIST), UK, 1998
M.Sc. in Real Estate (gold medal winner), National University of Singapore, 1995
B.Sc. in Estate Management (Honours), National University of Singapore, 1988


 

Key Publications

  1. Ling, D., JTL Ooi and R. Xu (2016) "Asset Growth and Stock Performance: Evidence from REITs", Real Estate Economics (forthcoming).
  2. Xu R.R., Y.L. Chow and JTL Ooi (2016) “A Relook at the Effects of Divestiture in the Presence of Agency Conflict”, Journal of Real Estate Finance and Economics (forthcoming).
  3. Tang C.K., M. Mori, S.E. Ong and JTL Ooi (2016) “Debt Raising and Refinancing by J-REITs: Information Content in a Credit Crunch”, Journal of Real Estate Finance and Economics 53(2).
  4. Downs D., JTL Ooi, WC Wong and SE Ong (2016) "Related Party Transactions and Firm Valuation: Evidence from Property Markets in Hong Kong, Malaysia and Singapore", Journal of Real Estate Finance and Economics 52(4), 408-427. [2012 ARES best paper in “Real Estate Investment”].
  5. Ling, D., JTL Ooi and T. Le (2015) “Explaining House Price Dynamics: Isolating the Role of Non-Fundamentals”, Journal of Money, Credit and Banking 47(1), 87-125.
  6. HJ Munneke, JTL Ooi, CF Sirmans, and GK Turnbull (2015), “Real Estate Agents, House Prices, and Liquidity”, Journal of Real Estate Finance and Economics 50 (1), 1-33 [lead article].
  7. Chow, Y.L. and JTL Ooi (2014) “First-Price Sealed-Bid Tender versus English Open Auction: Evidence from Land Auctions”, Real Estate Economics 42(2), 253-278 [lead article].
  8. Ooi, JTL, T. Le and NJ Lee (2014) "The Impact of Construction Quality on House Prices", Journal of Housing Economics 26, 126-138. [2013 ARES best paper in “Valuation”].
  9. M. Mori, JTL Ooi and WC Wong (2014) “Do Investor Demand and Market Timing Affect Convertible Debt Issuance Decisions by REITs?” Journal of Real Estate Finance and Economics 49 (4), 542-550.
  10. Ooi, JTL and T. Le (2013) “The Spillover Effects of New Infill Developments”, Regional Science and Urban Economics 43, 850-861.
  11. Lecomte, P. and JTL Ooi (2013) “Corporate Governance and Performance of Externally Managed Singapore REITs”, Journal of Real Estate Finance and Economics 46(4), 664-684.  [2010 ARES best paper in “International Real Estate Portfolio Management”].
  12. Wong, WC, SE Ong, and JTL Ooi (2013) “Sponsors Backing in Asian REIT IPOs”, Journal of Real Estate Finance and Economics 46(2), 299-320.
  13. Ooi, JTL, WC Wong and SE Ong (2012) “Can Bank Lines of Credit Protect REITs Against a Credit Crisis?” Real Estate Economics 40(2), 285-316. [2009 ARES best paper in “Real Estate Finance”].
  14. Ooi, JTL and T. Le (2012) “New Supply and Price Dynamics in the Housing Market”, Urban Studies 49(7), 1435-1451. [2010 ARES best paper in “Housing”].
  15. HJ Munneke, JTL Ooi, CF Sirmans, and GK Turnbull (2011), “Sequential Sales of Similar Assets: The Law of One Price and Real Estate”, Journal of Regional Science 51(2), 355-370.
  16. Ooi, JTL, SE Ong, and PH Neo (2011) “Wealth Effects of Property Acquisitions: Evidence from Japanese and Singaporean REITs”, Real Estate Economics 39 (3), 487-505.
  17. SE Ong, JTL Ooi and Kawaguchi (2011) “Seasoned Equity Issuance by Japan and Singapore REITs”, Journal of Real Estate Finance and Economics 43(1/2), 205-220.
  18. Ooi, JTL, CF Sirmans and GK Turnbull (2011), “Government Supply of Land in a Dual Market”, Real Estate Economics 39(1), 167-184.
  19. Ooi, JTL, SE Ong and L Li (2010) “An Analysis of the Financing Decisions of REITs: The Role of Market Timing and Target Leverage”, Journal of Real Estate Finance and Economics 40(2), 130-160. [2008 ARES best paper in “Real Estate Finance”]
  20. Ooi, JTL, JL Wang, and JR Webb (2009) “Idiosyncratic Risk and REIT Returns”, Journal of Real Estate Finance and Economics 38, 420-442.
  21. Ooi, JTL (2009) “The Remuneration Structure of REIT Managers: Impact on Valuation and Performance”, Journal of Property Research 26(4), 309-328. [lead article]
  22. Ooi, JTL, JR Webb and DD Zhou (2007) “Extrapolation Theory and The Pricing of REIT Stocks”, Journal of Real Estate Research 29(1), 27-55. [2005 ARES best paper in “Real Estate Investment Trust”]
  23. Hui, ECM, JTL Ooi and K Wong (2007) "Economic Performance of Property Companies in Hong Kong".  Journal of Property Research 24(2), 139‑157.
  24. Ooi, JTL, CF Sirmans and GK Turnbull (2006) “Price Formation under Small Numbers Competition: Evidence from Land Auctions in Singapore”, Real Estate Economics 34(1), 51-76.
  25. Ooi, JTL and CF Sirmans (2004) “The Wealth Effects of Land Acquisition”, Journal of Real Estate Finance and Economics 29(3), 277-294.
  26. Ooi, JTL and Liow KH (2004) “Risk-Adjusted Performance of Real Estate Stocks: Evidence from Developing Markets”, Journal of Real Estate Research 26(4), 371-395.
  27. Liow KH, JTL Ooi & L.K. Wang (2003) “Interest Rate Sensitivity”, Journal of Property Research 20(2), 117-132.
  28. Ooi, JTL (2000) “An Empirical Investigation on the Incidence of Secured Debt”, Journal of Property Research, 17(3): 185-201.
  29. Ooi, JTL (1999) “The Debt Maturity Structure of UK Property Companies”, Journal of Property Research 16(4): 293-307.


Other Publications

  1. Le, TT Thao and JTL Ooi (2012) “Financial Structure of Property Companies and Capital Market Development”, Journal of Property Investment & Finance 30(6), 596-611.
  2. Ooi, JTL and SM Yu (2011) “Graduate Real Estate Education in Singapore: What Prospective Students Look For”, Journal of Real Estate Practice & Education 14(1), 35-52.
  3. Ooi, JTL and LL Sim (2007) "The Magnetism of Suburban Shopping Centers: Do Size & Cineplex Matter?" Journal of Property Investment & Finance 25(2), 111‑135.
  4. Ooi, JTL and ST Lee (2006) “Price Discovery Between Residential Land & Housing Markets”, Journal of Housing Research 15(2), 95-112. [2004 ARES best paper in “Apartment”]
  5. Sing, TF, JTL Ooi, AL Wong, and PKK Lum (2006) “Network Connectivity and Office Occupiers’ Space Decision – The Case of Suntec City”, Journal of Property Investment & Finance 24(4), 221-238.
  6. Ooi, JTL, G Newell and TF Sing (2006) “The Growth of REIT Markets in Asia”, Journal of Real Estate Literature 14(2), 203-222.
  7. Newell, G, KH Liow, JTL Ooi and HH Zhu (2005) “The Impact of Information Transparency and Market Capitalization on Out-performance in Asian Property Companies”, Pacific Rim Property Research Journal 11(4), 393-411.
  8. Liow KH, JTL Ooi and YT Gong (2005) “Cross-Market Dynamics in Property Stock Markets”, Journal of Property Investment & Finance 23(1), 55-75.
  9. Liow KH and JTL Ooi (2004) “Does Corporate Real Estate Create Wealth for Shareholders?” Journal of Property Investment & Finance 22(5), 386-400.
  10. Ooi, JTL, KH Liow and L Tay (2003) “The Wealth Effects of Securitizing Commercial Real Estate: A Case Study on Raffles Holdings, Singapore”, Pacific Rim Property Research Journal 9(1), 13-27.
  11. Ooi, JTL and KH Liow (2002) “Real Estate Corporations: The Quest for Value”, Journal of Property Investment & Finance 20(1), 23-35. [2003 Emerald Literati Club, outstanding paper]
  12. Tay, L and JTL Ooi (2002) “Benchmarking Financial Performance of Condominiums”, Pacific Rim Property Research Journal 8(2), 23-35.
  13. Liow, KH, JTL Ooi, EM Shahid and GR Brown (2001) “Performance Measurement in Corporate Real Estate: Issues, Evidence and Research Agenda”, Journal of Financial Management of Property and Construction 6(2), 71-79.
  14. Ong, SE, JTL Ooi and NH Wong (2001) “Crossing the Great Divide? A Survey of US & UK Real Estate Journals”, Journal of Property Investment & Finance 19(6), 519-534.
  15. Tay, L and JTL Ooi (2001) “Facilities Management: A Jack of All Trades.” Facilities 19(10): 357-362.
  16. Ooi, JTL (2001) “Dividend Payout Characteristics of UK Property Companies,” Journal of Real Estate Portfolio Management 7(2): 133-142.
  17. Ong, SE, JTL Ooi and TF Sing (2000) “Asset Securitization in Singapore: A Tale of Three Vehicles”, Real Estate Finance 17(2): 47-56.
  18. Ooi, JTL (2000) “Managerial Opportunism and The Capital Structure Decisions of Property Companies”, Journal of Property Investment & Finance 18(3): 316-331. [2001 Literati Club, outstanding paper]
  19. Ooi, JTL (2000) “Corporate Reliance on Bank Loans: An Empirical Analysis of UK Property Companies”,  Journal of Property Investment & Finance 18(1):
  20. Liow, KH and JTL Ooi (2000) “Current Issues in Strategic Corporate Real Estate Analysis and Management”, Journal of Corporate Real Estate 2(3): 240-249.
  21. Ooi, JTL (1999) “The Determinants of Capital Structure: Evidence on UK Property Companies”, Journal of Property Investment & Finance 17(5): 464-480. [2000 Literati Club, highly commended certificate]
  22. Ooi, JTL (1999) “Financial Structure of UK Property Companies: A Research Agenda”, Journal of Financial Management of Property and Construction, 4(1): 5-30.
     

 Books & Reports

  1. “Asian REITs: Growing into Maturity” with WC Wong. A chapter in Real Estate Investment Trusts in Europe – Evolution, Regulation, and Opportunities for Growth. Edited by Ramon Sotelo and Stanley McGreal. Publisher: Springer, 2013.
  2. “Asian REITs: Playing the Yield Game” with PH Neo. A chapter in Global Trends in Real Estate Finance. Edited by Karen Sieracki and Graeme Newell. Publisher: Blackwell, 2010.
  3. An International Comparative Study of the Pension Plan Community and Real Estate Investments with CF Sirmans, Elaine Worzala, Colin Lizieri, Karl-Werner Schulte, Aart Hordijk and Graeme Newell. Publisher: Pension Real Estate Association, 2006.

 


 
  • Real Estate Development
  • Development & Project Financing
  • Advanced Real Estate Marketing
  • Real Estate Investment Analysis
  • Real Estate Market Analysis
  • Real Estate Finance & Securitisation
  • Real Estate Investment Trusts
  • Real Estate Corporate Strategies
  • Real Estate Case Studies

 

International Services

Board of Directors: Asian Real Estate Society (w.e.f. 2012), International Real Estate Society (w.e.f. 2013)

Editorial Board: Journal of Property Investment and Finance (w.e.f. 2001), Pacific Rim Real Estate Journal (w.e.f. 2003), Journal of Real Estate Literature (w.e.f. 2004), Journal of Real Estate Practice and Education (w.e.f. 2005), Journal of Real Estate Portfolio and Management (w.e.f. 2008), Journal of European Real Estate Research (w.e.f. 2009), Journal of Property Research (w.e.f. 2010), Real Estate Finance (w.e.f. 2013), Journal of Housing Research (w.e.f. 2013), Journal of Real Estate Finance and Economics (w.e.f. 2014).

Guest Editor: Journal of Property Investment and Finance – Special Issue on Quantitative Real Estate (2014), Journal of Property Investment & Finance - Special Issue on Retail Properties (2007), Journal of Financial Management of Property & Construction – Special Issue on Property Market Analysis, Modeling & Forecasting (2003).

Ad-hoc Referee: Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, Journal of Housing Economics, Land Economics, Regional Science & Urban Economics, Urban Studies, International Real Estate Review, Environment and Planning A, , Review of Urban and Regional Development Studies, International Journal of Strategic Property Management, International Journal of Hospitality Management, International Journal of Housing Markets and Analysis, Quarterly Review of Economics and Finance, Financial Analysts Journal, Spatial Economic Analysis.

Program Committee: Cambridge-Florida-Singapore Real Estate Symposium, Cambridge UK (2016), AREUEA Annual Meeting, Boston (2015), PreWFA Summer Real Estate Symposium, Monterrey (2014), AREUEA-Asian Real Estate Society Joint International Conference, Singapore (2012), AREUEA Annual Meeting, San Francisco (2009), Asian Real Estate Society International Conference, Singapore (2003).

External Examiner: M.Sc. (Real Estate) Programs, University of Reading, UK (2011-14), Doctoral Thesis (University of Reading, UK, 2012), Doctoral Thesis (Bond University, Australia, 2012), Doctoral Thesis (University of Western Sydney, Australia, 2010), External Assessor for Strategic Research Proposal (City University of Hong Kong, 2009).

Others: Manuscript Prize Committee (American Real Estate Society, 2012; 2014; 2016), Awards Committee (International Real Estate Society, 2005; 2012), Organizer/Moderator on “Publishing in RE Journals” (Asian Real Estate Society-AREUEA, 2012), Panel Member on “Career Advice for the Real Estate Researcher of Tomorrow” (American Real Estate Society, 2014), Session Chair (American Real Estate Society, 2009, 2013 & 2016; Asian Real Estate Society, 2013), Mentor for Doctoral Student (American Real Estate Society, 2008), International Selection Committee (AREUEA, 2014), Referee for Promotion & Tenure (Cornell University, 2013; Florida International University, 2015/16).


 

Teaching Awards

  1. Outstanding Educator Award, National University of Singapore, 2012 (the highest teaching award in NUS for outstanding and sustained performance, dedication and commitment to teaching).
  2. Fellow, Teaching Academy, National University of Singapore (2012-15)
  3. Excellent Teacher Honour Roll, National University of Singapore, 2012 (awarded to NUS faculty members who have won the NUS Annual Teaching Excellence Award (ATEA) three times. They will not be eligible for the ATEA for the next 5 years).
  4. Teaching Excellence Award, School of Design & Environment, NUS, 2012.
  5. Most Inspiring Professor, B.Sc. (Real Estate) Graduating Cohort, 2012
  6. Annual Teaching Excellence Award, National University of Singapore, 2011 (awarded to faculty members who have displayed a high level of commitment to their teaching).
  7. Teaching Excellence Award, School of Design & Environment, NUS, 2011.
  8. Teaching Excellence Award, School of Design & Environment, NUS, 2010.
  9. Annual Teaching Excellence Award, National University of Singapore, 2007 (awarded to NUS faculty members who have displayed a high level of commitment to their teaching).
  10. Outstanding Educator Award (nominee), National University of Singapore, 2007.
  11. Annual Teaching Excellence Award, National University of Singapore, 2005 (awarded to NUS faculty members who have displayed a high level of commitment to their teaching).


Research Awards

  1. Candidate Fellow, Weimer School of Advanced Studies in Real Estate amd Land Economics, US - in recognition of oustanding academicians and leaders who have made significant contributions to the development and dissemination of knowledge in real estate, land economics, and related fields (Jan 2017).
  2. Dean's Chair in recognition of outstanding and impactful scholarly accomplishments which are well acknowledged internationally (July 2015).
  3. Manuscript Prize for best paper in the “Valuation” category, American Real Estate Society, 2013 (Hawaii).
  4. Manuscript Prize for best paper in the “Real Estate Investment” category, American Real Estate Society, 2012 (St Petersburg).
  5. Manuscript Prize for best paper in the “International Real Estate Portfolio Management” category, American Real Estate Society, 2010 (Naples).
  6. Manuscript Prize for best paper in the “Housing” category, American Real Estate Society, 2010 (Naples).
  7. Manuscript Prize for best paper in the “Real Estate Finance” category, American Real Estate Society, 2009 (Monterey).
  8. Manuscript Prize for best paper in the “Real Estate Finance” category, American Real Estate Society, 2008 (Captiva Island).
  9. Achievement Award for outstanding research, education and practice at the international level, International Real Estate Society, 2008
  10. Manuscript Prize for best paper in the “Valuation” category, American Real Estate Society, 2006 (Key West).
  11. Manuscript Prize for best paper in the “Real Estate Investment Trusts” category, American Real Estate Society, 2005 (Santa Fe).
  12. Young Researcher Award, National University of Singapore, 2005.
  13. Manuscript Prize for best paper in the “Apartments” category, American Real Estate Society, 2004 (Captiva Island).
  14. Grosvenor Prize for best paper on “Comparative Analysis of International Real Estate”, European Real Estate Society, 2003 (Helsinki, Finland).
  15. Literati Award for most outstanding paper in Journal of Property Investment & Finance, Emerald Group Publishing, 2003.
  16. 3rd in International Authorship Ranking in a survey conducted by a panel of academics from US, Asia and Australia. The study on international real estate research covered all the leading real estate journals in the US, UK, Asia and Australia over 1991-2000.
  17. Literati Award for most outstanding paper in Journal of Property Investment & Finance, Emerald Group Publishing, 2001.
  18. Highly Commended paper in Journal of Property Investment & Finance, MCB University Press, 2000.
  19. "Five Academic Papers of the Highest Calibre" citation for paper presented at the European Real Estate Society (ERES) Conference in Athens, Greece, 1999.


Service Awards

  1. Outstanding Reviewer, Emerald Literati Network Awards for Excellence, 2011.
  2. Outstanding Reviewer, Emerald Literati Network Awards for Excellence, 2008.
  3. Red Pen Award for excellent service and contribution to the Journal of Real Estate Practice & Education, American Real Estate Society, 2006.


Scholarships & Others

  1. Financial Grant for promising young scholars, American Real Estate Society Foundation, 2002.
  2. Commonwealth Academic Scholarship to pursue PhD in UK, 1995-1998.
  3. Real Estate Developers Association of Singapore (REDAS) Gold Medal for top graduate of the M.Sc. (Real Estate) programme, National University of Singapore, 1995.
  4. Building & Estate Management Society Gold Medal for outstanding academic and extra curricular activities, National University of Singapore, 1987.
  5. Lee Foundation Gold Medal for outstanding academic and extra curricular activities, National University of Singapore, 1986.

 
  Last Modified: 2016-12-08