It's not just Turkey boasting an impressive Pavilion this year at MIPIM. London and Paris are looking better than ever and Moscow is the 'coup de coeur', according to Andreas Schiller.
How impressive is the line of pavilions near the beach: London, Paris, Moscow beside each other. Let us call it the “capitals line”, while the other capital – the one which causes good returns – is running around represented by so many investors and investment managers. A real highlight was the official opening of the Moscow pavilion. Moscow Mayor Sergey Sobjanin gave the opening speech, and thus attracting so many people that it was crowded, crowded, crowded… In fact, this was a special honour, because Sergey Sobjanin himself is not very much travelling to real estate fairs. So, once again, MIPIM made it!
From there it was easy to step onto the Frankfurt terrace. They and the Munich crew have a splendid marketing concept. It comprises three words: “Wurst and Bier”! Nearly everybody is coming along once a day, and it is true, there are some participants who never leave those stands, because they can meet all they want to meet during their day there. And sometimes also some, whom you don’t want to meet. But that is MIPIM as well. Close by is the booth of international real estate advisor Savills. Marcus Lemli, CEO of Savills Germany and Head of Investment Europe, stated: “MIPIM is a perfect opportunity to contact such a lot of people in four days at one place. That’s why we are here”. And for talking a bit about trends in the market, he says: “Regarding investors I see not only core strategies any more, there are more and more strong investment interests in value-add”. Good to know and good to hear. With all the “core, core, core” I suggest to start a discussion about the difference between hardcore and softcore. But with more “value-add” we maybe will not need that discussion anymore.
Close to Savills German asset manager CorpusSireo can be found. Ralph Günther, Chairman of the Management Board of CorpusSireo Holding, feels good: “Aside Turkey as Country of Honour much is about Germany at this year’s MIPIM. There is growth in the segments of residential and retail, so this two are in the focus of equity-strong investors.” And Ralph Günther adds: “Luckily this is not only in the Top Seven cities of Germany, but all over the country”. Hmmm…. maybe next year beside Berlin, Frankfurt, Hamburg, Munich, Cologne, Dusseldorf, Stuttgart, and Nuremberg we will see some smaller locations among the exhibitors as well. Some of them are already there, under the umbrella of NRW Invest. NRW is for North Rhine Westphalia, and cities like Bonn and Bochum, Duisburg and Dortmund shine up there.
Bonn-headquartered is IVG who are busy with promoting “The Square” for the MIPIM Awards – an amazing project above the railway station at Frankfurt Airport. But this is only one, ECE made it even with two projects into the Awards competition: “Marmara Park” in Istanbul, and “Milaneo” in Stuttgart. No wonder, that at their stand down in the bunker everything is around these two projects. Good luck to both of them!
Andreas Schiller is Editor-in-chief of the online medium “SPH Newsletter”, which mainly informs about news, trends and backgrounds in CEE/SEE real estate and investment markets as well as in Russia and Turkey. Germany-based, he is also a regular contributor to German daily “Frankfurter Allgemeine Zeitung”, to Austrian daily “Der Standard”, and to “Immobilien Business” in Switzerland, among others. Having been there for almost 20 years, Andreas is a MIPIM veteran as well.
Image: S. D’HALLOY / IMAGE & CO