The World Investment Forum MIPIM 2014 in Cannes is over. This year MIPIM organizer Reed Midem celebrated 25 years of this successful project. This effective concept continues to develop; and in 2006 MIPIM Asia was launched, which takes place in Hong Kong and this year from the 15-17th of October the first MIPIM will be held in London and then to take place in Tokyo in 2015. MIPIM in London reflects strength of UK property market, principally London with property prices rising by more than 7.5% per year.
For the Pickard team participation in Cannes event has also been a jubilee, our 10th event since 2008; so we were actually Gold Star visitors this year. “On the whole the impression from the exhibition was the most positive”, - said Svitlana Shulevska, Managing Partner of Pickard. – “Unfortunately this optimism did not spread to the Ukrainian projects for obvious reasons. It seemed that the renewed state of Ukraine was close to getting special attention from Western investors, but the annexation of the Crimean territory put a stop to that. And investors did not hide their concern. As a result, the Kiev stand attracted many visitors, but principally to express their concerns and support for Ukraine.”
The Russian stands, as always, presented their multifarious projects expansively; even ski resorts in Kamchatka. The representatives of the Moscow Government made lavish speeches about new possibilities for investments in Russia, but the topic of Ukraine was noticeably avoided. Questions about the fall of the ruble or the economic decline were more comfortable, than those with a political component. The spirit of understatement was in the air and it seemed that the image of the potential investor in the Russian real estate market was becoming clear: he listens attentively and then grins: “Keep talking, you have a nice voice”.
“We went to MIPIM with no false illusions, - notes Terry Pickard, Group Chairman of Pickard, - Certainly one of the profitable projects in our investment portfolio appeared to be interesting for 2 potential investors, but predictably they will “wait and see”."
The Pickard attendees held a number of informative meetings with their various European partners, acquired some new useful contacts and generally were quite satisfied with their participation.