Cannes is a uniquely first-class destination and an ideal forum to showcase latest innovations in the real estate world. This is exactly what it did this March at MIPIM (Le Marché International des Professionnels de l’Immobilier) when participants from 90 countries gathered in the pretty coastal Riviera town. The Palais des Festivals et des Congrès de Cannes was a perfect venue for MIPIM’s 28th edition. Key players from the international property market met for four days of networking, conferences and seminars.
The 29th edition and a resounding success
This year’s MIPIM was another resounding success. The real estate congress is the most visited event in the property calendar and this year over 20,000 participants attended. These visitors represented different sectors of the real estate market, including architects, construction workers, developers, brokers, agents and business owners. The event covered many hot topics in the property sector from alternative real estate and diversity to technology and urban development.
The first morning is always one of the busiest times at MIPIM and this year’s edition was no exception. Excitement for the conference could be felt along Cannes’ famous Croisette as it steadily started to fill to capacity and, by the afternoon, the port was abuzz with superyachts hosting important meetings.
In the session “Global Cities: the New Powerhouses”, panellists spoke about overcoming outdated preconceptions and recreating the identity of their cities with the aim of becoming global powerhouses. As technology advances and the world becomes smaller, cities have become untethered from their local geography. The new outward-looking cities are a result of realignment between nation, city and state compared to the traditional approach. We believe Monaco is one of these “powerhouses” that continues to remain competitive in the international marketplace. Several Monaco real estate developments are in progress. This includes the new ecological neighbourhood which is due to be completed in 2025. An ambitious offshore development project, the district will include some of the most exclusive residential properties in the world, a landscaped park and a small marina.
Property awards and more
Besides organising more than 100 conferences, MIPIM also hosted a dedicated exhibition area and networking platform. The MIPIM Awards recognised the most outstanding international property projects of the year and the winners were announced at a gala ceremony in the Grand Auditorium of the Palais des Festivals et des Congrès. Italy scored a hat-trick with awards for the best office, the best urban regeneration project and the best shopping centre. Belgium won two awards and France won in the best industrial and logistics development category for Sogaris’s Chapelle International Logistics Centre.
The weather started off well at the beginning of the week but the wet weather somewhat subdued proceedings on Thursday. However, nothing could dampen attendees’ enthusiasm for a new project, the ‘Elephant Campaign’ by the London Festival of Architecture. The campaign received an overwhelmingly positive response and was a big hit with participants. It aims to highlight and put an end to inappropriate or discriminatory attitudes and behaviour in the industry. The Property sector has a reputation for being one of the least diverse industries with an estimated 85% of the industry workforce being male. Despite recent improvements, there is a general consensus that more needs to be done, hence the enthusiasm for this inspiring new campaign.
If you have any questions about Monaco real estate or would like more information about current property developments in the Principality, please contact Miells & Partners.