Yachts are often used as offices at MIPIM events
According to a report in Britain’s The Daily Telegraph, not all the 100 yachts that had been booked for Mipim 2009 will be used. In fact, they give the precise figure of 36 being cancelled. If true, this is not surprising. It’s obvious that given the current financing crisis, most companies are looking more carefully at expenses. What is sometimes overlooked, however, is that these yachts also double up as accommodation. The incredible popularity of Mipim means that people are sometimes in hotels as far away as Nice, which is very impractical. Last year, the organisers even parked a liner in the bay to help with accommodation, although rough weather meant that some of the guests couldn’t get off!
On its site, Mipim points out that a downturn in property value offers better opportunities for investors. It also highlights a number of interesting projects in Shanghai, Paris, Duisburg and Cologne.
Overview of MIPIM 2009
In all, an estimated 20,000 delegates attended MIPIM 2009. This included investors, developers, end-users, architects, hotels groups, public authorities and property associations. UK commercial property values have fallen by 38 per cent since their peak in summer 2007, according to index provider IPD. As often happens in this sort of situation, many businesses chose to send fewer but more senior representatives this year. Marketing budgets had been slashed across the board.
This is neither surprising not necessarily a bad thing, unless you had a beach-front restaurant to fill for evening events.
At the end of the day, however, senior players were still very much present. It was also easier to reach decision-makers without the often distracting side show of events and fancy stands. Peopel coudl more quickly get to the point
As Gill Parker wrote for Facilitate magazine, “the bravado of previous years was replaced with open and honest discussion about how the sectors can adapt and explore new innovative ways of working together.”
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