Cautious Optimism at MIPIM 2011

Dale Potts
MIPIM brought together key property professionals to explore major international property development projects, connect with potential partners, and strike deals over four intensive days in Cannes, France.

In spite of economic downturn, MIPIM 2011 drew 18,500 participants, six per cent up on last year. Read the MIPIM 2011 Quick Review (PDF, 231.91KB) to find out more.

A mood of cautious confidence permeated the show. A report released by Standard Life Investments during MIPIM week identified a series of global investment hotspots.

The report suggested offices in Australia and industrial in Canada as good prospects, and in the USA saw indications of the office market moving upwards from its 30-year low point. Meanwhile in Europe, centres such as London, Paris and Stockholm are seeing optimistic indications.

It's clear that UK developers are still struggling to secure funding in the current constrained market. The more stable developers who are able to self-finance, however, are in an excellent position to explore planning and investment strategies and take advantage of construction competitiveness.

With the private sector currently dominant, more UK activity certainly seems focused on London and the South East. However MIPIM revealed plenty of evidence of local authorities promoting their regions, ambitious for continued growth despite cuts in public funding.

Cities were keen to show they are still open for business, strengthening their offering by spotlighting schemes to kick-start development. We also saw evidence of local authorities willing to take a lenient approach to out-of-town retail development.

Faithful+Gould is a key player in the global property sector, offering a diverse range of construction project managemement and cost management solutions to private and public sector clients.

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