With the Rio Olympic Games less than six months away, the spotlight is once again on global sporting events and their potential to drive urban regeneration. While the1992 Barcelona and 2012 London Olympic Games are regarded as particularly successful examples, others, notably Athens in 2000, have been less successful. Careful planning is essential to lock in the legacy benefits and to avoid the host city being left with white elephants.
Joao Teodoro da Silva, president of Brazil’s national real estate body, COFECI-CRECI said at MIPIM: “There is no doubt that there will be a strong legacy for the real estate industry, particularly in the city and state of Rio de Janeiro.” He pointed to large-scale projects like the Ilha Pura scheme in Barra da Tijuca and the Rio Green Reserve in Marica as examples.
And as the Rio Games close, the baton will pass to 2020 host Tokyo, where work is already under way.
Miwako Date, executive managing director of the Mori Trust, said that the games have already sparked development across all sectors. She expects the tourism industry to be a major beneficiary of the games and Mori Trust is in the midst of an ambitious program of expansion. It has recently completed the development of a luxury hotel in a former palace on the banks of the Hozu River at Suiran on the outskirts of Kyoto, and it has seven more luxury hotels in the pipeline.
Paris is striving to be the venue for the 2024 Olympic Games. Speaking at a MIPIM conference session, the city’s mayor, Anne Hidalgo (second from right in top photo), stressed that she was determined to learn lessons from London and use the games as a driver for the lasting regeneration of key parts of the city.
Hidalgo outlined a series of ambitions for Paris, including the revitalisation of the Seine Saint-Denis area. “We want to produce an Olympic Village for the athletes which, as in London, will be transformed into a new, living neighbourhood after the event is finished,” she said. “Also, we want this not to simply be the Paris Games. So we are working with the Ile-de-France to make this territorial for the whole region.”
She added: “It is very important there are no white elephants. We want to re-use what we build and we also want to embrace innovation in all its facets.”
This is the latest in a series of posts resuming the highlights of MIPIM 2016. More soon!