Delegates gathered in Cannes from 6-9 March for the world’s leading international real estate show for professionals, and they did not leave disappointed. More than 19,000 delegates gathered at the Palais des Festivals to network, engage and learn more about building global opportunities in today’s market.
From Chongqing to Tokyo, via Downtown Doha, Paris, London and New York, delegations from 83 countries gathered at the Palais des Festivals in Cannes from 6-9 March to attend a MIPIM that concentrated on quality, low-risk investment opportunities, urban development and how the tight debt financing situation will impact the European market.
At the end of the day, the general feeling among the 19,300 delegates, including 4,200 investors, was that despite uncertainty over the availability of bank financing, prime cities and locations will continue to attract strong investor interest, with many cities using their low-risk potential as a selling point.
Germany is seen as being either an ‘attractive’ or ‘very attractive’ investment opportunity by the vast majority of international investors. Its economy has weathered the Eurozone crisis well and the real estate sector has proved its national and international expertise time and again. Germany and the Nordic countries will attract low-risk investors, London and Paris offer good medium-term growth and that companies looking for high returns could be interested in Russia and Turkey.
Among the new projects unveiled during MIPIM was the proposed Skolkovo innovation city in Russia which is promoting itself as a Silicon Valley equivalent. Set to welcome some 45,000 people and be completed by 2015, Skolkovo has been set a target of 50 per cent energy consumption coming from sustainable sources.
In the giant Krasnodar Region tent, delegates admired huge models of the Sochi Olympic Park, which includes a proposed Formula One race track and which stood alongside a mock-up of the 83ha Gorod Sporta multi-functional sports complex which includes a 50,000-seat soccer stadium.
Qatar may be one of the most active investors in the international real estate market with over 50 projects in 30 countries worth an estimated €30bn, but at MIPIM 2012 the Gulf state’s focus was firmly on sustainable urban development.
My Panel Session: 'Retail Global Expansion: A Portfolio of Opportunities', was a success and poised for some lively debate amongst the panelists, a big thank you to all those who took part. Here is a link to watch the session live: http://youtu.be/N2AQeBpkOR8?hd=1
MIPIM 2013 will take place in Cannes, March 12-15 and the Country of Honour is Turkey
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