tta group attended the 20th annual MIPIM conference in Cannes between the 10th and 13th March 2009.  The media and industry speculation that the event would see a considerable reduction in numbers proved to be correct, with the number of delegates down by more than 10,000 people since last year’s peak.  However, this year’s conference had a greater degree of focus than in recent years, with more key decision makers attending the event and a real concentration on meaningful business being done. 

Given the current global economic climate, delegates could have been forgiven for being downbeat about the prospects for the international property market. However, it was clear that the conference attendees were looking past the current difficulties and were focussed instead on solutions and future opportunities.

Tricia Topping, tta group’s Chief Executive commented: “MIPIM was quieter and more focused event this year with companies using their budgets wisely. There were undoubtedly more prearranged meetings taking place and these were focused on generating new business or catching up with existing clients and contacts. The MIPIM Architectural Review Future Project Awards saw our client, LCE Architects, being highly commended in the mixed use category for its plans to transform Wigan Town Centre.  LCE Architects won this commendation against fierce competition from projects around the world and was the only UK scheme to win an award in this category.” 

The London Stand was officially opened by Mayor Boris Johnson, who used an upbeat and witty address to emphasise that London would help lead the UK out of recession. Boris Johnson highlighted that sterling’s current competitive pricing against other international currencies was key to attracting international investment and the London property sector was doing exactly the right thing by exhibiting on such a global stage. He was also keen to point out that you did not have to go to Cannes to have the Cannes-do attitude…  

The London stand itself included a range of exhibitors such as Argent, which was exhibiting its regeneration of King Cross, the London Borough of Croydon which was showcasing its plans for the transformation of the heart of the town centre and the Crown Estate which has turned its attention from the regeneration of London’s Regent Street to the St James’s area of London’s West End.  Outside of London, Sir Bob Kerslake, Chief Executive of the Homes and Communities Agency, was in demand attending and speaking at events hosted by a number of regional cities.

The feeling at the conference was not all doom and gloom, with a number of commentators looking to future recovery. Investment Property Databank’s Managing Director Laurent Ternisien said that although the UK downturn was severe, the decline was more advanced than in other countries’ and as such growth would return sooner. Henry Williams, director of Stanhope, said that the market has “a pulse” and there were signs of increased demand for the company’s schemes in west London and Croydon. MIPIM also saw the launch of a number of funds including a new property opportunity fund from Rowan Asset Management and the GVA Property Fund with a target size of $104 million.

MIPIM continued to consolidate its position as the leading global property conference through impressive exhibitions from around the world.  The conference continued to see large areas dedicated to the French and Russian property markets but there were also exhibitions from further afield including South Korea, Brazil, United Arab Emirates and Singapore.

2010 will be another important year for MIPIM and whilst tta group continues to look for the property market to improve considerably over the next 12 months, we also hope that the conference will retain its new found business focus.  We look forward to returning to Cannes next spring to support our clients, contacts and friends at the leading international property conference.