MIPIM: Is the Flight to Safety over?

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MIPIM: Is the Flight to Safety over?

We’ve all geared up for another MIPIM, and the tone is set to be entirely different once again. With the UK as the country of honour, we expect to see confidence levels changed in their nature, marginally higher than in 2010. “Mixed messages” could or should be the theme, heralding the change from “flight to safety” of previous years- but we’re not quite out of the woods yet. I wrote in the Building mgazine blog last year about Boris Johnston’s prevalence at Mipim, and he gave a keynote address yesterday – everybody who’s anybody is down here.

Reed Midem reports a 7% increase in delegates – a huge jump by mipim standards, making this Year’s attendance around 17,000. Still not bad when you compare it to its little retail sister Mapic at 7,000.

MENA emerging markets have changed political complexion, with Algeria still in denial to an uprising. In Egypt, a palpable air of positivity has arisen, although it’s too early to call the outcome of a new democracy. Investors there remain defiant.

Meanwhile, countries like Sweden, earmarked by JLL’s Chris Staveley, have set an example to us all as to how to weather the recession and investment pipeline. As we arrived last night the Stockholm stand was buzzing- Scandinavia is a definite one to watch.

Jackie Sadek of RegenerationUK highlights the fact that our home cities have flocked to MIPIM once again, framed as a noble use of funds to promote root and branch investment in their conurbations. London is of course favourite, and Pipers’ London Stand has a phenomenal uptake this year. Recent deals like Westfield’s disposal of a 50% stake in Stratford City have made investment markets sit up. Coventry’s £50m Barberry Bishop Gate investment from 2010 is testament to the Mipim effect – you just can’t argue that this isn’t an effective marketing strategy. I witnessed Leeds’ future mapped out on a Mipim yacht in 2005,  with Hammerson and Land Securities chiefs pushing their respective projects – this place is where it all happens. Edinburgh has its daily whisky tastings, Croydon has its Jones Lang LaSalle drinks, whilst only Manchester has the swagger to carry off it’s own flight to Nice, topping the pink Nottingham yacht from 2010!

So, here we are back in Mipim once again. Building magazine and all the media is here to document and speculate. I’ll be blogging from the Palais, Croisette and Cafes throughout, as well as Tweeting views, pictures and links – follow us at @DanInnes and @KevinMcKeever. #mipim #innesco

Dan Innes, Managing Director

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