Big developments, big building plans and even bigger bucks are on show at the world’s glitziest real-estate expo on the French Riviera. Laura Henderson pops a few corks with the MIPIM property pack
I have it on good authority that more champagne is quaffed during the four days of MIPIM (Marché International des Professionels de l’Immobilier) than in the entire two weeks of the Cannes Film Festival. But then the event is so much more than just a celebrity knees-up in the Med. In 2008, for the 19th consecutive year, big-name developers, agents, city planners, architects and more than 2,000 exhibiting companies will attend the international real-estate gathering of the year – many of them leasing luxury yachts for a little after-hours schmoozing under the stars.
The event, which runs from 11-14 March at the Palais des Festivals, is de rigeur for serious dealmakers, and being absent is simply not an option for any major city or region with aspirations to showcase its property sector. “It’s the benchmark for leading developers and end-users from all over the world,” says MIPIM spokesperson Audrey Hajiaaj. “We’re expecting record numbers this year, with over 28,000 delegates from 85 countries, so it can claim to be a truly global event.”
Attendance from central and eastern Europe is on the up, with a growing number of Scandinavian and Middle Eastern countries also exhibiting. “The introduction of networking formats like speed-matching – pre-selected presentation slots – has also gone down well with delegates,” continues Hajiaaj. “It helps them squeeze in extra one-to-one contact time while they’re here.”
The immediate attractions of Cannes are obvious: blue skies, swanky restaurants and bobbing yachts as far as the eye can see. But it’s not the only logic behind this choice of location. The organisers, Reed Midem, had hosted TV and music festivals in Cannes for more than 40 years before adding MIPIM to their schedule in the late 80s. “It’s the ideal location for an event like this, with easy access via the international airport, and a wealth of five-star accommodation and offshoot venues,” enthuses Hajiaaj.
Exactly how much business is generated is tricky to pinpoint, however. And attending the event does not come cheap. One of Europe’s leading property consultants, King Sturge, initially resisted the temptation to attend, before eventually giving in to the inevitable pressure to see and be seen. For his part, David Izett, chief executive of international property consultancy Colliers CRE, has no problem justifying the cost. “The networking opportunities are invaluable. Just by chatting with a prospective client over lunch last year we secured a major due-diligence instruction that covered our expo costs several times over,” he says.
Public bodies are no less convinced that it pays to be there. Around 800 local authorities and development corporations are attending this year, keen to match the efforts of similar organisations from other countries in the eternal battle to win inward investment. “The event is an ideal way to get on shortlists,” says Simona Storchi of Bologna development agency PromoBologna. “You can meet so many potential investors in a short space of time.”
As to MIPIM’s ongoing success, most industry pundits agree that the expansion of cross-border investment has been key. “There were several thousand visitors in the first few years,” explains property developer Paul Barnett, “but it really took off in the 90s, when pension funds began to diversify and multi-nationals started establishing global property and investment portfolios.” Storchi adds: “You have to be out there showing the world what you can offer. We are competing with places like Frankfurt and Barcelona. Networking with bankers and potential investors is invaluable. I can learn first-hand what they want; the kinds of buildings we should be offering both to end-users and investors.”
PromoBologna is just one of several virgin participants keen to ensure that serious contacts are made at MIPIM. Storchi and her team will be spending their time touting BertaliaLazzaretto, a landmark mixed-use urban development to the northwest of Bologna. Covering 730,000m2 and comprising a new university campus, residential and commercial buildings, the new development will be linked to the surrounding areas by a park – a common space equipped with sports facilities and cycle and jogging tracks for use by both existing and new residents. So what does Storchi want international investors to know about the Bologna market? “The city offers competitive labour costs and low commercial real-estate taxes, and has one of the best quality-of-life indices in the country,” she says.
This year MIPIM is widening its remit to focus on long-haul fields, with projects in Asia and the Far East dominating seminars. Green issues are also on the agenda. “Ecology and sustainable development are now mission-critical to the building and property sectors,” says Barnett. Drawing its share of media hype is the Fjord City Expo – a project to renew the port and coastal areas of stunning Norwegian capital Oslo. One of the world’s first ecologically designed urban environments, as well as a benchmark for future urban development, the project will include the creation of the Akerselva Park, a pioneering eco-park drawing attention to the fragility of ecosystems in coastal areas. “Water is essential to the sustainable development of cities,” explains Per Gregersen, assistant director of the city’s Department of Urban Development. “The revitalisation of harbour areas that have gone fallow provides cities like ours with an opportunity to renovate and expand.
“It’s a way of revving up downtown life and improving residents’ recreation and relaxation value,” he continues. “Isn’t that what urban design should be all about?” As regards MIPIM, Gregersen is realistic but optimistic about the event. “There’s a large dose of showbusiness involved in presenting your project to the world,” he admits. “But if it puts a bite-sized capital like Oslo on the map, it’s got to be worth it.” www.mipim.com
FR Cannes Do
Du 11 au 14 mars, les entrepreneurs, les urbanistes, les architectes et plus de 2 000 sociétés exposantes se rendront à Cannes pour assister à la rencontre annuelle internationale de l’immobilier, le MIPIM (Marché International des Professionnels de l’Immobilier).
L’événement qui se tient au Palais des Festivals est incontournable pour toutes les grandes villes ou régions désireuses d’exposer leur secteur immobilier. “Nous attendons un nombre record de visiteurs cette année, avec plus de 28 000 délégations venues de 85 pays,” explique la porte-parole du MIPIM Audrey Hajiaaj.
Les attraits immédiats de Cannes sont évidents: ciel bleu, restaurants raffinés et yachts en mouvement, jusqu’à perte de vue. Mais il y a des avantages pratiques aussi. “Cannes est idéale pour un événement de cette ampleur, avec des accès aisés via l’aéroport international, et une kyrielle d’établissements cinq étoiles et leurs ramifications,” s’exclame Hajiaaj, enthousiaste.
Evaluer avec exactitude la quantité d’affaires générée s’avérerait difficile, et l’on notera que participer à la manifestation n’est pas bon marché. Et cependant David Izett, responsable du bureau de consultance en immobilier international Colliers CRE, n’a aucun problème à justifier le prix. “Les opportunités de relations sont inestimables. Simplement en discutant avec un prospect lors d’un lunch l’année dernière, nous avons assuré une commande importante d’audit qui a couvert plusieurs fois nos frais d’exposition,” déclare-t-il.
Les organismes publics ne sont pas moins convaincus que cela paye d’être là. Environ 800 municipalités locales et structures de développement participent cette année, désireuses de suivre l’exemple d’organisations semblables d’autres pays, dans l’éternelle bataille pour remporter des projets d’investissements sur des marchés intérieurs. “L’événement est une manière idéale de se placer sur les shortlists,” explique Simona Storchi de l’agence de développement de Bologne PromoBologna. “Vous pouvez rencontrer tellement d’investisseurs potentiels dans un court espace de temps.”
En plus, cette année, le MIPIM augmente ses attributions pour inclure les destinations lointaines et la dimension écologique, les enjeux liés au développement durable étant critiques à l’heure actuelle pour les secteurs de la construction et de l’immobilier.
NL In Cannes en kruiken
Van 11 tot 14 maart trekken projectontwikkelaars, urbanisten, architecten en meer dan 2000 standhouders naar Cannes voor deelname aan het internationale immobiliënevenement van het jaar, de MIPIM (Marché International des Professionnels de l’Immobilier).
De MIPIM vindt plaats in het Palais des Festivals en is een must voor elke grote stad of regio die zijn vastgoedmarkt wil promoten. “We verwachten recordcijfers dit jaar, met meer dan
28.000 vertegenwoordigers uit 85 landen”, aldus Audrey Hajiaaj, MIPIM-woordvoerster.
De aantrekkingskracht van Cannes als locatie is meteen duidelijk: een stralende hemel, luxerestaurants en dobberende jachten zover het oog reikt. En er zijn ook praktische voordelen. “Cannes is makkelijk bereikbaar dankzij de internationale luchthaven en er is een ruim aanbod vijfsterrenhotels en trefpunten”, glundert Hajiaaj.
Hoeveel business het evenement precies genereert is moeilijk te zeggen en deelname is niet goedkoop. Toch heeft David Izett, chief executive van de internationale immobiliënconsultant Colliers CRE, geen probleem met die kostprijs. “De netwerkkansen zijn van onschatbare waarde. Gewoon door tijdens de lunch met een potentiële klant te praten, haalden we vorig jaar een belangrijke due dilligence-opdracht binnen, die onze deelnamekosten vele malen dekte”, verklaart hij.
Ook overheidsinstellingen zijn overtuigd dat het loont erbij te zijn. Zo’n 800 lokale overheden en ontwikkelingsmaatschappijen nemen dit jaar deel om, net als gelijkaardige organisaties in andere landen, nieuwe investeringen van buitenaf aan te trekken. “Het evenement is een ideale manier om op selectielijsten te raken” aldus Simona Storchi van PromoBologna, een Italiaans projectontwikkelaar. “Je kan op korte tijd zoveel potentiële investeerders ontmoeten.”
Bovendien breidt de MIPIM dit jaar zijn programma uit tot verre bestemmingen en milieukwesties, nu duurzame ontwikkeling een doorslaggevend criterium is voor de bouw- en vastgoedmarkt. www.mipim.com
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