MIPIM, the international market for real estate professionals, which celebrated its 25th anniversary on the Croisette in Cannes, boasts very encouraging results.
MIPIM was inaugurated by Reed MIDEM’s CEO Paul Zilk, accompanied by MP-Mayor of Cannes Bernard Brochand and Christophe Chupot, Reed MIDEM’s Director of the Real Estate Division. Representatives of delegations of MIPIM’s three countries of honor, Brazil, Russia and Turkey, had joined them : Alexander Orlov, Russian Ambassador to France, Deniz Erdogan Barim, Consul General of Turkey in Marseille and Almir Lima Nascimento, Advisor at Commercial Service of the Embassy of Brazil in France.
Officials toured the stands and admired the models of the grandiose projects showcased. On the stand of Brazil, which will soon host the FIFA World Cup, they had the opportunity for a photo shoot with footballs and the effigy of the trophy.
International studies show recovery
20,500 delegates from 93 countries, including 4,500 investors, met in Cannes for four days of intense discussions and business meetings. Many participants also attended the RE-Invest summit, the MIPIM Innovation Forum and the sixth Mayors’ Think Tank.
The series of reports published at the MIPIM highlighted that most markets were clearly recovering. The Office Investment Market Review study, led by JLL, reported a 7% increase compared to 2012 of investments in real estate offices in Europe; investments in the office should continue to grow in 2014.
The European Capital Markets study by CBRE, international property consultancy, confirmed that the European countries hit by the 2008 economic crisis, such as Italy, Spain, Portugal and Ireland had experienced in 2013 a more than expected dynamic recovery: for example Ireland saw three times more transactions that in 2012 . One of the major topics of discussion in the aisle of MIPIM focused on the volume of equity funds currently raised in the United States for European distressed assets. Starwood Capital, for example, have raised some $ 2 billion. According to CBRE, U.S. investors are the majority among foreign investors in Europe. To take the case of Spain, in 2013 , almost half of commercial real estate transactions have mobilized U.S. capital.
New MIPIM to be launched in Japan
Reed MIDEM, the organizer of the MIPIM, announced the launch of MIPIM Japan. This new salon in Tokyo will offer over two days on May 20 and 21, 2015 a program of conferences and events fostering exchanges between professionals. MIPIM Japan joines the portfolio of MIPIMs, after the MIPIM UK whose first edition will take place from October 15 to 17, 2014 in London.
Focus on some major projects
The YesICannes.com Magazine focused on some major projects: Arexpo and Milan World Exhibition, the City of Marica, new real estate El Dorado in Brazil, the Centre of Now in Dubai and two eco-projects : Nice Meridia and Grenoble’s Little Big Valley. You can also admire some very prestigious projets by discovering the MIPIM Awards 2014 winners.
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