Barcelona Meeting Point showcases Latin America and CEE

Barcelona Meeting Point (BMPSA) is an increasingly international real estate fair. The 12th edition being held on 4-9 November features over 40 symposium sessions and 130 speakers from 16 countries, including representatives from the Urban Land Institute (ULI), Investment Property Databank (IPD), Global Real Estate Institute (GRI) and Family Enterprise Institute (IEF).

A new area this year is devoted to the fair's guest country - Panama - which will be represented by more than 50 exhibiting companies and with an exhibition area of more than 4,000 m². At the same time, the organisers has created two new international areas: the Las Americas and CEE areas. The former features exhibitors from Nicaragua, the Dominican Republic, Costa Rica, and Honduras. The Central and Eastern European section features Poland, Hungary, Bulgaria, Romania and Russia.

The first day of the symposium programme is wholly devoted to 'Cities, Development, and Investment: The New Challenge'. Cities of the future, including a city of the future very close to the BMP itself, will be discussed by experts during several sessions. Delegates will also have the opportunity to visit the new 22@ district of Barcelona.

ULI will also be looking 'Beyond the Bleak Horizons', not only at cities of the future but at 'Surviving the Real Estate Crisis'. Crises may take investors by surprise but at the same time they are familiar with ups and downs. 'A Matter of Perspective: Impacts of the Current Crisis in Different Sectors of the Industry' will be moderated by senior fellow Greg Clark.

Four international real estate experts will make short presentations on how the current real estate crisis affects their sector and what opportunities it throws up. To begin with, the question of money will be discussed: Where is it and how can it be made available? More than ever investors and developers need to listen to what the market wants. And last but not least, will closer collaboration between private and public sectors lead to better planning?

On the second day of BMPSA, John Carrafiell, global head of real estate investment at Morgan Stanley in London, will talk about the crisis from an historical perspective: 'That was then and this is now'. He will address what lessons we can take from the past, and assess the current challenges and possible reactions to them. Participants will also have the opportunity to learn more about ULI's European Urban Investment Network (EUIN), which will be launched jointly at Expo Real in Munich and at BMPSA. The network, aimed at driving up the rate of investment in Europe's cities and stimulating public-private partnerships, will have an annual programme of forums, workshops and publications. The body, comprising a network of 50 cities and 50 investors, will compete for investments with emerging cities in Latin America and Asia.

Pan-European investment will also come under scrutiny during sessions held on Wednesday and Thursday. In a Europe with open borders more could be done to improve pan-European investment, and ways in which private investors can benefit from public financing by the EU will be on the agenda. Under an EU legislative framework, real estate investment trusts (REITs) and open-ended real estate funds (OEREFs) will enable ordinary people to make diversified and limited investments in property across borders. With an EU REIT, major investors will look beyond prime real estate in capital cities to the 'secondary' market segments and locations. 'Niche REITs' will be able to develop specialised real estate for a European market.

An interesting phenomenon, especially prominent in Spain, is the Family Enterprise Institute (Instituto de la Empresa Familiar). Increasingly, Spanish and other European corporations set up what they call 'the family office' which can supply personal services as well as investment management for members, all of whom are presidents, chief executives or board members of their companies. The Tuesday afternoon and evening sessions will explore expectations of the European and international real estate industry, as well as the products and services they offer in the current climate. The 104 IEF companies represent 16% of Spanish GDP.

Panama will be the guest country this year with an exclusive exhibition area of more than 2,000 m². Symposium topics will cover key issues for investors in the country such as legal security, urban development laws and the importance of the canal, upon which the local economy is dependent. Panama’s vice president, Rubén Arosema and the ministers of housing and trade and industry, Gabriel Díez and Carmen Gisela Vergana have confirmed they will attend.