Mar 11, 2009

MIPIM 2009 - 20 years of real estate

The MIPIM in Cannes is 20 years old. I was having breakfast this morning with a French friend who was a participant at the first MIPIM back in 1989, and is invited tonight to join the "veteran" dinner that is offered by the MIPIM organizers.

During the years this real estate fair has grown in size, number of participant to a scale where a lot of first year participant felt that it was becoming too big to be really efficient. At breakfast this morning, we both agreed that this year MIPIM may not be the most joyful one, but will clearly be one of the most efficient in years. People who came are here for business. Not for fun.

In the last years, the Cannes annual gathering had become what I would describe as a necessary evil. As a listed company, you somehow needed to be present there, but there was really little benefit of making the move, and small expectations in terms of business. Things seems to be changing this year, and the MIPIM from what the first two days show is for the first time in many years looks more efficient as party people have flee Cannes. This is clearly for the better when it comes to MIPIM.


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