Recently in 2011 Category

Those who think MIPIM is a jolly in the sun will be heartened to know that yesterday was truly cold. Apparently, the conference has been moved a week earlier to accommodate the Porn Industry Festival. I will not attempt to find a common link... though several come to mind!

From its roots as an event focused on Europe, delegates can now see Brazil, Korea and Bahrain, among others, promoting themselves. Is this a sign of a genuine expectation of doing business; the increasing globalisation of the market; or clever opportunism by the promoters of the event?

The single biggest reason to be here remains the volume of people it is possible to meet in a short space of time. Organising diaries for such meetings back in the UK would be logistically challenging. Chance meetings and impromptu coffee or drinks are delightfully beneficial.

Without doubt this has, for me, been one of the most positive MIPIMs. The BS monitor has been evident by its absence and replaced by a serious can-do attitude and determination to prevail and succeed.

Ken Bishop is director, office agency, for DTZ and is based in Manchester

I'm delighted that the prevalent view among people I've talked to during my whirlwind tour of MIPIM is one that recognises that London and the UK are at the heart of the international property world.



Of course, we're not perfect, and the key issue that comes up time and time again is infrastructure. In many ways, we're victims of our own success. We have a world-class system but our continuing growth places strain on a design first formulated by the Victorians - or indeed, in some cases, the Romans.


Improvements such as Crossrail (pictured) will be vital in helping us to deliver the capacity needed over the coming years. Infrastructure pays for itself, so we should be counter-cyclical and put in the investment now, before our rivals close the gap. In fact, £1 spent on construction brings £2.84 back into the economy.


Of course, opportunities in this area don't come much bigger than the Olympic Games. London 2012 will showcase us to billions of people across the world and, hopefully, deliver a sustainable legacy for us all.



Infrastructure and real estate go hand-in-hand. When I'm involved in big infrastructure projects or buildings, we use insurers, bankers, hedging, swaps and so on. There's not a single instrument of trade and finance that we don't use.


So, as a lord mayor from the demand side of financial services - a client - I'll be challenging the City to work closely with the property industry for our mutual benefit.


Michael Bear is Lord Mayor of the City of London

Not for the first time, carefully planned launches and meetings at MIPIM were overshadowed by unconnected events.

The arrest of Vincent and Robert Tchenguiz as part of an investigation into the collapse of Icelandic investment bank Kaupthing was being talked about long into the night. As I strolled home along Le Croisette in the early hours of this morning I lost count of the number of times I heard their names being mentioned in late-night, champagne-fuelled conversations.

To read the rest of Damian Wild's take on the unfolding story read our digital magazine MIPIM Today on estatesgazette.com, available this afternoon.

It is often said that London and New York are the only truly global financial centres in the world. They set the standard the rest of the world aspires to.

Of course, there are other centres that operate on a global scale in certain sectors but nowhere else offers the breadth and depth of world-class services that London and New York do.

As such, it is naturally assumed that these two cities are fierce competitors and, in the sense that every financial centre has to operate in an increasingly competitive global marketplace, this is true.

However, the relationship between London and New York is also one of shared interests and mutual co-dependence.

It is not an either-or situation, firms do not want to be based in one or the other; they want access to both.

In addition to political pressures borne out of the recent financial crisis, there is one overriding concern that unites both London and New York - the shift of the global marketplace towards the East.

Financial centres in Asia are growing rapidly and are desperate to attract the top global firms that have traditionally been based in London and-or New York.

These centres have many advantages, not least with regards to property, planning and infrastructure.

It is much easier to meet the needs of the international business community - be it for a million square feet of office space or for an efficient, high-capacity transport system - in a brand-new business environment than it is to fit such projects around a medieval street network.

One of the key messages to come out of today's panel discussion, "London, New York: two cities joined by a common vision", in the London Pavilion was that both London and New York need continued investment in property and infrastructure to compete in the global marketplace in the years to come.

We can only succeed in achieving our shared ambitions if we continue to work together, drawing on the experience that makes these two cities the world's leading financial centres.

Stuart Fraser is the policy chairman at the City of London

The halfway point has been reached. Everyone has arrived at MIPIM and the numbers of delegates are noticeably down from the peak of a few years ago. The benefit is a noticeably less frenetic, more business-like approach. "Manageable" is the expression most in use.

The general atmosphere, judging from the majority of people I have spoken to, is that the market is in for a long haul towards recovery. No one is suggesting any quick fixes. The mood is more of pragmatic acceptance and a desire to find creative solutions to development.

There is good news though. Enquiries from inward investors are picking up and this will provide a much-needed boost to the office market once they have been converted. Some interest is also being seen from offshore call centres returning to the UK.

The highlight on the Manchester stand was the launch of The Co-operative Group's masterplan for its ownership around Miller Street. The area has been branded NOMA (pictured). In total, the proposed development comprises 4m sq ft, with both new and refurbished accommodation, retail, office and residential uses.

Coupled with the plans for the regeneration of Victoria station, with the commercial quarter to be developed by Muse, this area of the city is set for an interesting and exciting rebirth.

Ken Bishop is director, office agency, for DTZ and is based in Manchester

It may be an atypically cloudy and cool Cannes at MIPIM this year, but a real highlight, as always, is seeing some of the stands off the beaten track.

Of course, most delegates come to visit the likes of London, Paris, and - judging by the popularity of their bags - Lyon. But there are always some hidden gems and I was delighted to meet the president of Rwanda, Paul Kagame (pictured), at the Kigali stand this afternoon.

As lord mayor, a large portion of my time - over 90 days in more than 20 different countries - is spent overseas promoting the UK financial and business services industry. So getting all these nations under one roof here saves me time - if nothing else!

But, having been born in Kenya and educated in South Africa, Africa is especially close to my heart. In fact, on leaving that continent behind I arrived in London with £200 in my pocket and only a single introduction.

I know that Africa offers almost limitless opportunities. Some economists have even said that the 21st century may be an "African century" because of the scale of development available on the continent.

But I also know that some countries are way ahead of the continent in developing business opportunities.

That's why it's pleasing to see President Kagame's "Vision 2020" for his country helping to attract investment across the board - notably real estate and infrastructure. Both are key drivers of economic growth. The City has the expertise and capital to help facilitate these ambitious plans.

Michael Bear is Lord Mayor of the City of London

I've been a regular at MIPIM for over 20 years but it's still always an exciting time for all those connected with the property world - especially now that confidence is coming back across the industry.
 
MIPIM offers a chance to meet old friends and see new faces in between talking businesses. People who don't know any better often deride it as an excuse to enjoy the Cannes sunshine but, in reality, it means long hours and hard work. There's simply no better forum to meet all the major decision-makers - even if the number of delegates has fallen from a peak of 29,000 in 2008.
 
So, what story does the City have to tell today?
 
Property is one of City's key success stories. Building infrastructure and innovative architecture that fits into the City's historic street pattern has allowed us to become a magnet for financial services worldwide. The contrast between old and new is stark - you only have to compare the Georgian architecture of Mansion House and the cutting-edge design of the Gherkin.
 
And we're still growing, with a predicted increase of City working population to more then 400,000 over the next 10-15 years. The City experiences a 3,500% increase in its population every day owing to the influx of workers, and a new generation of visionary architecture - with unusual names such as the Shard, Cheesegrater and Helter Skelter - will help to replenish our office stock. In fact, a further 18m sq ft is in the pipeline.
 
Boris - in his own unique way - helped us bang the drum for London today and I was delighted to follow him on stage. It's always been my belief that reward follows quality, and the UK is a world leader when it comes to property.
 
Michael Bear is Lord Mayor of the City of London

MIPIM 2011 kicked off for me with Monday evening's Manchester drinks reception in the Manchester apartment, cannily located opposite the Palais. Given the support from the private sector this year this was a superb example of the public-private partnership which Manchester does so well and is the envy of most other regional cities. It is almost, dare I say, David Cameron's Big Society concept in action.

An interesting breakfast meeting at the Carlton Hotel, followed by a meeting on the DTZ boat, demonstrated the benefits of MIPIM. The invaluable exchange of ideas, information and opportunities would have been more difficult to arrange in the UK.

A tour of the exhibitions in the Palais showed the full range of schemes, from the sublime to the ridiculous. The model showing the City of London with the various office towers under construction was extremely well done. As for the more extreme exhibitions, these are probably best not mentioned.

Ken Bishop is director, office agency, for DTZ and is based in Manchester

Anyone speaking before the instantly recognisable and highly quotable mayor of London, Boris Johnson - as I did today on the London Stand - is guaranteed a sizeable audience.

 And, in many ways, our messages are very similar; just as London is absolutely vital to the UK's future economic prospects, so too is the City.



This is the case regardless of whether you are referring to the historical City: the Square Mile; or to the broader City: the UK financial and professional services industry as a whole. The state of the commercial property market - particularly in important business centres - often reflects the state of the economy overall; international developers and financiers would not invest in property if they were not confident there was a market to fill their latest projects.



At the height of the financial crisis, many of the City's most important developments, including many of the landmark tall buildings, were at one stage or another thought to be under threat. 

In 2011, all of these schemes secured the requisite financing for completion - much of it from overseas - and the City will thus be able to offer office space of the quality and quantity to match the specific business needs of potential investors for years to come.



Add to this mix the continued infrastructure development that is so critical to the City's long-term prospects - from the completion of the One New Change retail centre to the government's welcome confirmation that Crossrail will go ahead - and it is clear that the international business community has, quite rightly, retained its confidence in the Square Mile, and indeed in London, as a place in which to do business.

We must do all we can to ensure this remains the case.



Stuart Fraser is the policy chairman at the City of London

MIPIM this year holds more promise this year than for the past four years. The usual challenge of the means of travel will be easier, courtesy of the special charter plane laid on by Manchester airport. Given the spread of the Manchester property market glitterati on board, the City might have considered taking key man insurance.

There has recently been a sense that, albeit slowly, the market is being to turn in the right direction. It will be interesting to see the collective mood of the conference after the challenges of recent years and to see whether my new-found optimism is generally shared.

What I am looking for this week? I will certainly be looking to extend, or cement, my range of contacts - which can be easier to achieve in the more informal and relaxed surroundings of MIPIM than is the case in the UK. There is also the opportunity to learn and to extend knowledge.

But key, of course, will be to spot the new business opportunities essential to make the investment in time and money beneficial and to make the physical and mental exhaustion - which comes from the route marches along La Croisette from meeting to meeting, event to event - worthwhile, not to mention the lack of sleep!

Ken Bishop is director, office agency, for DTZ and is based in Manchester