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Round-up: Day 2 at #MIPIM

Europe’s largest property festival was in full swing yesterday as day 2 brought wind and rain but it didn’t dampen the festival in any way. If anything, it drove all 21,000 property professionals inside the Grand Palais creating a busy and bustling atmosphere especially at the Cushman & Wakefield stand.

mipim front

People continued to debate and discuss the key findings that came out of the Atlas Outlook report launch the previous day and if you missed it on day 1 you can still download the Atlas Outlook report from our website. Of particular interest were the sources of international capital and how strong competition in the market is driving increased cross border investment.

As well as the astonishing levels of diversification in investment which has led to a 27% rise in multifamily residential, earning its highest percentage of market share ever at 15.6%.

After a faced paced morning there was the client lunch at the JW Grill on the Croisette which threatened to be a wash-out, but in fact was very well attended and there was a warm buzz in the room as clients and staff discussed a positive business outlook despite the miserable conditions outside. Guests were even treated to some freestyle football entertainment as they entered the venue.

Later in the afternoon, there was a fascinating panel discussion hosted by Ivanhoe Cambridge about redefining living spaces entitled ‘Live, Work, Play’ with EMEA Chief Executive, John Forrester in attendance as part of the panel.

After an impressive intro video, the panel debate got straight into discussing what makes a great ‘place’ for people to live & work. John Forrester was keen to point out that any successful city is supported by fantastic infrastructure and that commute times are directly related to inhabitants happiness.

The panel then moved onto discuss how cultural and technological changes are influencing the commercial real estate industry now and in the future, Patrick from WeWork highlighted that the idea of a sharing economy was having huge influence on people’s ideas and expectations.

That really focused the conversation on technology and how the ‘Digital Revolution’ is really beginning to impact and disrupt every industry, the question was is the just a fad or it it here for the long term? Which brought two unequivocal answers from Patrick and John.

Finally the panel spoke about the the evolving measures of success and what good looks like with fast changing needs being driven by occupiers.

John was quick to point out that it’s all about the occupiers and not the landlords in terms of how well a particular space is used.

And Patrick rounded off the conversation with a more emotive view and suggested that some of the intangible benefits are much harder to measure but are perhaps the most important.

Last but not least, everyone in the team was gearing up for the ‘Great Wall of Money’ report due to launch the next day. Stay tuned to our #MIPIM blogs for more on that, as we look at what will #transform the commercial real estate industry in 2016.

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