MIPIM is more than just a trip to the south of France
Soon the world will be descending on Cannes for the annual property conference and convention – MIPIM – but with many firms sending ‘slimmed down’ teams to the south of France is MIPIM all that it is cracked up to be? Gary Cardin, planning partner and head of property consultants Drivers Jonas’ Birmingham office, ponders whether this year’s event is financially justifiable.
In a tightening economy, the cost of attending MIPIM has led to most companies delving deeper into the budget driven question of ‘why go?’ this year. At Drivers Jonas we remain committed to the event, sending a dedicated team of individuals from across our UK and European offices to MIPIM. Why are we still going? Firstly to be there, get involved and experience the event but above all because we know from experience that the harder you work at MIPIM the more you get out of it.
My diary is already getting jam-packed with meetings, functions and events all crammed into three days. Yes, I have had to balance out the cost implications of not being in the Birmingham office with the opportunities that being at MIPIM can potentially present and there lies the key.
Many people can and do go to enjoy the beer fuelled parties and corporate freebies that MIPIM presents, but in today’s uncertain economic climate one more than ever has to remain focused on the possible corporate prizes and opportunities. Firms will be cutting back on entertainment budgets but it will be the forward thinking companies who are strategically targeting their captive audience who will secure the most benefits.
And what are those benefits? For me, MIPIM is all about relationship building, gaining support for business streams, and understanding what trends or opportunities are emerging from around the world. This is gained from talking to the widest possible spread of like-minded property professionals in a concentrated time frame. It also allows an opportunity to meet and spend time talking to local authorities, understanding their ambitions, problems, hopes or delivery problems.
Flying the flag for Birmingham and the region is crucial and never more so than in the current economic climate. You can in one conversation be talking to a German real estate investor, a development surveyor, a local authority and PR consultancy. There is huge benefit in selling your firm, your skill sets and your experiences through selling your city to those you meet. Immediate links can be created and key opportunities explored, establishing relationships and contacts in a couple of minutes which can take months and even years to develop back home.
It is difficult to financially quantify whether any ‘real’ business is done at MIPIM but one could argue that the establishment of new contacts, leads and relationships, alongside the re-kindling of existing associations at MIPIM’s informal environment is priceless. The property industry is firmly founded on people and relationships and it is not unusual for profitable deals to be set up and even concluded at MIPIM.
For myself, MIPIM 2009 will involve a whirl of breakfast meetings, interviews with the property press, supporting launches of major development proposals and attending round table conference discussion forums, where I will be promoting the Midlands and tackling some of the difficult challenges we face as region.
I will be attending a number of receptions, hosting dinners and yes there will be the odd party, plus, as Liverpool play Real Madrid in the Champions League on the Tuesday evening, there will no doubt also be some continental sporting rivalry to add to the mix. The summit is an intense melting pot of every facet of the property industry and one which requires significant mental stamina to remain on course and maximise every possible opportunity.
So is MIPIM really worth it? In a word ‘yes’ but delegates will have to work hard and stay focused throughout for it to be successful this year.
