MIPIM, an annual conference held in Cannes, France, is holding its 30th Edition next March 12-15, with a goal of “Engaging the Future.” They recognize that economics in real estate is changing and they are committed to a conversation with industry players about how to manage risk as new revenue streams open up.
Driving the change, MIPIM.com says, is: “Evolving new technology and human behavior, which is transforming the nature of real estate as an investment, and as a product or service we use as consumers; people centricity as a key factor for growing a successful business; government regulation pushing sustainability up the real estate agenda as energy prices rise and the impact of climate change becomes real; and the need for investors and owners to improve asset performance and manage the broader range of risks emerging.”
Those who attend MIPIM come from a wide array of backgrounds, businesses, municipalities, and countries. In 2018, MIPIM brought together “The world’s foremost sovereign wealth funds, pension funds, insurance funds and other leading institutional investors in the real estate industry.”
On the public representatives or politicians, side, investors, developers, and political leaders met with cities and local authorities to talk about urban development investment opportunities, project development, market expertise, and innovative ideas for urban development.
A sampling of those attending last year showed: Former Prime Minister, Israel; The Secretary of State, Brussels; Minister for Housing and Urban Development, Egypt; Secretary for Tourism, Brazil; General Consuls from Germany, Italy, Russia, and Turkey; Mayors from cities all across Europe; and Ambassadors from Czech Republic, Ukraine, and Luxembourg.
In all, 26,000 participants, including 5,400 investors, came together in 2018 to talk about urban development. With 100 countries and 500 cities across the globe represented, the potential impact on a world-wide level is unparalleled.
The Next 30 Years
In 2019, MIPIM says attendees will have “A unique opportunity to envision the next 30 years under the lens of ‘durability’: an enabler for economic growth, sustainable performance, and community cohesion.”
They aim to take a close look at ways to choose the best strategies for long-term benefit, to ensure quality of life, and to optimize use of existing resources. It will continue to focus on global and societal topics impacting the real estate industry.
On the Local Level
When talking to Bill Caton, Owner and Managing Broker of Caton Commercial Real Estate Group, about developing international business and his attendance at MIPIM the last few years, his excitement is contagious. While he thought he knew what to expect, his first experience surprised him, and he said he felt like the “deer in the headlights.”
Caton doesn’t stand still for long, though, and while checking out every event and session possible, made sure the second year he was well prepared to fully participate and leverage what he learned.
From a lifetime of experience, he knew that finding those with similar interests, getting to sessions early, and careful, consistent networking would help him. In this way, he was able to find and develop valuable relationships with investors and others, bringing home clients year-after-year who have not only become some of his best clients but also consistent, repeat clients.
These relationships might have been founded in France, but they were nurtured, grew and evolved, here in the U.S. with careful, thoughtful follow-up from Caton.