Mipim attendance down by a third

The number of participants at this year's Mipim has slumped by 30% compared with 2008 as companies across the real estate spectrum cut their delegations and scale back their activities at the world’s biggest property fair.

Official figures from Mipim’s organiser Reed Midem show that some 19,396 participants had registered for the fair by 4 March, down a third from last year's visitor total of 29,318. Some 1,850 exhibitors have signed up, compared with 2,687 in 2008.

This picture is confirmed by various industry polls held in recent weeks showing that companies are slashing their trade fair budgets in response to the economic downturn. A survey of 100 European real estate executives by the Urban Land Institute found that around 59% of respondents will send fewer staff to Mipim, while 32% said numbers would remain unchanged. Only 9% said they would increase the size of their delegations.

Regarding the Expo Real trade fair in Munich in October, around 45% of executives said they expect to send fewer delegates, while a similar percentage (43%) said numbers would stay unchanged compared to last year. Some 87% of respondents whose companies were represented at Mipim last year said they planned to have a stand again this year. This compares with 95% for Expo Real.

According to a poll conducted by PropertyEU, leading brokers such as Jones Lang LaSalle and King Sturge are halving their Mipim delegations to around 100 and 30 representatives respectively compared with last year. Although both companies will host a stand, they claim their budgets have been significantly reduced compared with 2008. UK broker Savills will likewise send fewer delegates and has pared down its budget.

ING Real Estate, one of the world’s biggest property companies, is cutting its delegation by 75% from 120 last year. The Formula 1 sponsor will not be holding its traditional 'Formula 1 experience' on the beach or welcoming guests aboard its three-master yacht Oosterschelde. Meanwhile, a number of Russian developers - including Mirax Group, Don-Stroi, AFI Development and Penny Lane Realty - have cancelled their stands this year as projects are put on ice.