The MIPIM, billed as "the world's premier real estate event for professionals", will take place on the 8-11th March this year in Cannes. With over 18,000 international property delegates it is a chance to explore major real estate developments on a global scale.
This year however, and despite the UK's honorary status at the event, Scotland's presence will be restricted to representatives from Edinburgh City Council. It is the first time in several years that Scotland will be so under-represented at the event, with the Scottish Enterprise having fronted a stand for the past few years.
The absence of Aberdeen, Dundee and Glasgow representatives may be a cause for concern within the industry in Scotland, with many worried about the effects of non-attendance at the prestigious event.
It is believed that the near-abstinence from the expo has been yet another casualty of the economic downturn, with councils deeming attendance as an unnecessary expense in tough times. Furthermore, the lack of immediate, guaranteed return from the MIPIM has discouraged Scottish Enterprise.
It is believed that the near-abstinence from the expo has been yet another casualty of the economic downturn, with councils deeming attendance as an unnecessary expense in tough times. Furthermore, the lack of immediate, guaranteed return from the MIPIM has discouraged Scottish Enterprise.
However, with the MIPIM event seen to be a valuable opportunity for regional reps to promote their areas on an international level, some may see the absence of Scottish property agents as potentially detrimental to the property market in Scotland.
For commercial property consultants in Scotland however, the failure to attend and potentially benefit from such a vibrant gathering of peers may seem like an overly cautious move, and one which could set Scotland back on their road to recovery.
The commercial property market in Scotland has seen its ups and downs over recent months. Whilst top-end properties with long-term blue-chip tenants are in high demand, business has been much slower for lower-grade properties, in Edinburgh especially. This state of affairs would provide the impetus for both attendance and abstinence, depending on which side of the fence you're on.
