With just days left to go til MIPIM, a quick look at the implications of choosing Germany as Country of Honour...
Only a few days left until MIPIM 2012 will be up and running. And, like always, it seems to be a promising event. Nearly 20,000 participants will be in the rather small town of Cannes – crowding not only the Palais, but also the streets, hotels and restaurants at least on the Croisette and in the inner city. Invitations are coming in – by e-mail and by snail mail, schedules are being filled up and… and… and… we all know that it’s the spontaneous encounters, too-long talks, meetings of well-known old faces after at least a year or more add kick and the special atmosphere of MIPIM. This oldest (and thus the “mother”) of real estate shows is still a sort of “family meeting” for the international real estate industry – the chance to catch up with old family members while getting acquainted with some newcomers.
And Germany is the “Country of Honour” this year. Looking at investment volumes, developments and transactions, it’s not really surprising. What is impressive is that someone had the business acumen to choose Germany a whole year ago! Yes, we are the strongest economy in the euro-zone; yes, there is confidence in the market; and yes, there is legal and tax certainty. We Germans may be perceived as a little bit boring at times, but at least we are reliable – at least most of us.
It will also be interesting to see where the Germans will go when abroad. There are surely a lot of talks being had about where to go and with what strategies. So, there is a lot of noise about internationals moving into Germany, and Germans moving abroad. And the spectrum is big. Close to home are Austria and the Netherlands, further afield, we have Oman, Australia and China. And somewhere in between is Turkey as a hub.
However, at the moment all it’s all about looking forward and planning for next week. Hopefully the weather will be fine!