MIPIM: Crisis leads to higher quality

The 20th real estate trade fair MIPIM ended in Cannes last Friday. Not even this anniversary managed to protect the event against the impacts of the recession: for the first time in its history, the biggest real estate trade fair in Europe recorded a fall in the number of visitors. What was this year’s MIPIM like in other respects and what were the impressions and feelings of its active participants – these questions are at least partly answered by a poll taken among Czech representatives at this MIPIM, especially from Prague, Brno and Ostrava, and representatives of large domestic developers.

Peter Noack, Hochtief Development

In terms of the number of companies and interest among visitors, I would liken this year’s trade fair to those in 2005 and 2006. In those years MIPIM also presented a fewer number of projects, but their common denominator was quality and especially feasibility and success in the long term. If MIPIM takes the path of high quality of the projects presented to prevail over their quantity, it will be the right direction.”

Petr Urbánek, Europolis Invest

Although the trade fair recorded a lower number of exhibitors, there was no significant decrease as regards the participation of key players on the European real estate market. In my opinion this shows that, although the real estate market is quite uncertain now, it will get back to good shape again. Probably not the shape we saw a couple of years ago, but we can expect certain stabilization soon. I’m convinced that the market will cope with the current situation of its own accord and high-quality projects will go through.”

Markéta Reedová, Assistant to the Lord Mayor of Prague

Through their presentations at the trade fair, cities and regions give a clear signal during the prevailing crisis that they intend to continue investing in their development. The current times offer a great opportunity for positive change to city councils. Compared to last year, when the presentations of some cities and regions at MIPIM were expressly spectacular, now is the time to move from words to content and start fulfilling the visions of green architecture and sustainable development with absolutely specific steps. We agreed on this with the representatives of comparable cities with a historical centre, such as Copenhagen, at a meeting of lord mayors. All commercial companies operating on real estate markets in the respective cities wish that cities have a clear vision and a future development plan.”

Roman Onderka, Lord Mayor of Brno

In spite of the decline in the number of visitors and the financial crisis, MIPIM remains a very important presentation event for cities, where they can boast their large- scale projects, introduce their visions and attract investors. That is why the participation of cities and regions at the fair remains stable.

Petr Kajnar, Lord Mayor of Ostrava

Quite obviously, many investors start shifting from the global market back to local markets due to the current financial crisis. It is definitely good news for the city of Ostrava. This year’s MIPIM showed once again the competitive environment in which cities and other self-governing regions are operating: the presentations at the trade fair virtually constitute a contest among cities for attracting as many top-quality investments for their inhabitants as possible. That is why the participation of cities at MIPIM remains stable in spite of the financial crisis, and we perceive Ostrava’s presentation at the prestigious presentation forum as highly needed.”

Anna Pavlovičová, Director, Bratislava City Council

We were hugely attracted by the presentation of Boris Johnson, the Mayor of London, on the subject of the Summer Olympic Games, which are to be held there in 2012. In addition to traditional items – construction of individual Olympic sporting grounds and infrastructure – the presentation particularly focused on their subsequent use when the Olympics are over. We consider this topic highly inspiring for Bratislava, even though on a smaller scale. One of our projects presented at MIPIM is the ambitious reconstruction of the Ondrel Nepela Ice Stadium into a modern multipurpose arena with 10,000 seats. The complex is scheduled to host the 2011 Ice Hockey World Championship.

The 21st MIPIM trade fair will take place in Cannes between 16 and 19 March 2010.

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