The 20th edition of the annual Mipim real estate fair in Cannes attracted some 18,000 visitors this year, according organiser Reed Midem. In 2008, the fair attracted a record 29,318 visitors.
The 20th edition of the annual Mipim real estate fair in Cannes attracted some 18,000 visitors this year, according organiser Reed Midem. In 2008, the fair attracted a record 29,318 visitors.
'This has been one of the most challenging years we have ever faced because our clients are under real financial pressure,' said Reed Midem deputy managing director Thierry Renault. 'At the same time, it has been one of the most dynamic events we have organised because everyone is looking at the future of the business and preparing for the future today at Mipim.'
Summing up the mood in Cannes, senior executives suggested that the global financial downturn is encouraging real estate companies to focus their attention on property fundamentals rather than complex financial engineering. 'The quality of underlying real estate will once again be the key to performance,' said Michael Rodda, the partner in charge of cross-border retail investment at Cushman & Wakefield.
Click on the link below for PropertyEU's coverage of MIPIM.
