MIPIM: It's not just about champagne

The sun is shining and everybody is around: One presentation after the other, one meeting following the next one, a panel here, a reception there – and between the planned meetings, some encounters. Although some say MIPIM is about champagne and the beach, the truth is: It is hard work as well.

This morning Alexander Otto, CEO of Hamburg-headquartered real estate company ECE, when asked about his impressions of this year, he said, “After the first days at the ‘Bunker’, there are two aspects that strike me. First, the general mood seems to be good, although not enthusiastic. People generally seem to be in ‘back to work’ mode. That reflects my own feelings – I’m moderately optimistic about business in the next few months. What I also noticed is that these strange people from strange places are back that tend to promote their properties or projects to anybody who will make the mistake to listen. It’s not as bad as say 2007, but it might be a further sign that the crisis is gone. Fortunately, the majority of talks at MIPIM is very down-to-earth: All the meetings we have are focused on concrete and promising projects and investments, not on some vague ideas.”

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