Mipim 2023: World's Biggest Real Estate Conference on Track for 15% Hike in Attendees

(Updated on 13 February to add Savills comment).

The Mipim property conference in Cannes, the biggest global real estate event by number of participants and country representation, is always a litmus test for the market.

What is talked about at the mid-March annual summit, now in its 32nd year, is always a vital indicator of key trends, while how many people attend is taken as a sign of real estate's strength.

As the industry emerges from the pandemic, the health of the conference in the South of France, is also important for the the wider events industry. Are big events like Mipim safe enough, sustainable enough and enough value-for-money in the modern working environment?

At around €2,000 to register for a standard pass the event needs to live up to its stated aim of bringing together the industry, not only to discuss key themes, but also to get deals over the line.

The signs so far are good for the event's organisers Reed Midem. The 2023 edition of Mipim, which will be held between 14 and 17 March, will be significantly bigger than last year's return to face-to-face meetings. The figures won't match the glory days when more than 27,000 spilled out of the 19,000-square-foot Palais des Festivals on to the main boulevards in Cannes but it won't be too far off either.

Nicolas Kozubek, managing director for Mipim, says he is now expecting 23,000 delegates, a 15% lift on last year's 20,000. "We are not surprised at this but we have worked a lot to achieve it," he says.

Kozubek is new to the main role at the event, which is ultimately run by events business RX France. He moved into the role last year from his position as director of Propel by Mipim, the annual New York proptech event hosted in partnership with MetaProp.

He says there had been worries the main Mipim would not be able to get back on its feet after the pandemic lockdowns. "I think in 2022 people were excited to be back together in person, that was clear, but still you do not know if it is sustainable. These figures have really confirmed it is and that it is going to be extremely successful. And we still have six weeks of registrations to go."

Kozubek says that the growth in numbers has importantly come from its traditional core geographies of France, the UK and Germany, which have all advanced compared to last year, but also via increased presences from countries such as Japan and the US.

"Japan came back in a very small fashion last year but now have a strong presence, and the US was a bit shy about it last year but is really back in force. There was a very strong presence from Saudi Arabia last year, but other Middle East countries such as Qatar have joined in returning this year."

Kozubek says Mipim will have delegates from more than 80 countries and 2,400 exhibiting companies this year.

The strong numbers are backed up by senior people at the main brokers.

A senior events manager at a leading agent who declined to be named told CoStar: "There was a lot of debate around how it would go after the pandemic, but actually people really enjoyed meeting up with clients and moving on deals with teams there and we are definitely taking our usual place and bringing more people."

Another senior marketing director at a leading adviser who also declined to be named, said: "The feedback was there were a lot more senior people there last year so we are taking our normal allotted space and going in force. That said I think it may be too early to sense what the smaller advisers will be doing and they may not yet have made their minds up."

A spokeswoman for Savills said: "Savills is very pleased to be attending MIPIM again this year with representation from across our European and wider global business. We will continue to have our usual exhibition space within Palais des Festivals alongside Savills Café, this year in a new location on Rue des Serbes.  We are looking forward to welcoming clients and guests at both venues."

Kozubek says the biggest section of attendees remains for its core markets.

"We don't see a huge difference in terms of people when you break it down. Twenty-five percent of attendees are investors which is the most important category of delegates really. That is in the DNA of the show and is what makes the value for visitors and for us."

Mipim says 73 of the world's top 100 investment managers, advising on €3.9 trillion of assets, will be there.

Local governments are out in force too, undaunted by the negative press that often follows politicians committing to a four-day event in the South of France.

"Local authorities are getting more and more involved," Kozubek says. "The UK is very loyal to the show with Manchester, Liverpool, Belfast, the West of England, Central South, and the Midlands all there. And for France we have created this year a dedicated track for 50 mayors and presidents of regions and elected officials so that they can discover the most important projects and discuss them together and meet investors and private companies. It has been tailor-made to encourage them to participate."

And the big brokers are all taking space on the main thoroughfare, the Boulevard de la Croisette. CBRE is once again taking the big space on the beach close to the Palais while all the big names including JLL, BNP PRE, Cushman & Wakefield and Savills will take their usual stands. In addition Canadian-owned global giant Avison Young is taking a dedicated pavilion on the boulevard for the first time.

In terms of celebrities and famous politicians Mipim normally does not disappoint, but Kozubek is keeping tightlipped for now. "We may have an important announcement but watch this space." The programme of keynote speakers and events across the six stages in the Palais can be seen here.

The event always seems to surprise in terms of themes, with at least one major market-moving event happening as it unfolds or just prior to it. Last year Russia's invasion of Ukraine in the days before it took place turned all prepared statements on their head. This year the UK government will announce its Budget for the year midway through the week, no doubt providing plenty for participants to reflect on. So what will be the big topics on everyone's lips this year?

Kozubek says the focus will be "the new normal".

"People were looking to see at the 2022 conference if life will continue as it had. This year actually there have not been so many geopolitical and economic change these last few months. What we hear across the community with our stakeholders is a need to be as pragmatic as possible when it comes to sustainability. People now want to understand what to do and how they do it because conversations have until now been more general. So a lot of our focus is talking about the right solutions and the necessity of understanding the connected sectors such as energy and transport."

In response, the event is launching a "road-to-zero" stage dedicated to decarbonisation. It is one of six new stages to be launched at Mipim 2023 and will be curated by Urban Land Institute, along with the World Green Building Council and the World Business Council For Sustainable Development.

"We have lots of contributors and have ensured the content is as sharp and pragmatic as possible with the right speakers," Kozubek said.

So what is Mipim doing about becoming more sustainable itself and helping its attendees turn up in a more sustainable way?

Kobuzek says: "Obviously we need to look at things case by case. With the French market we can easily help with people's participation going by train. Next year Mipim will start on Monday really for them. Mipim will have dedicated trains coming in from Paris and Lyon for attendees and we will push content on the train.

"For countries far away who are forced to take the plane in future we want to promote as much as possible companies employing travel agencies that are moving the needle in terms of sustainability engagement."

Kobuzek says fundamentally the perceived value of the event in terms of the investment made and efficiency is critical in how sustainable it is. "Really if people get a lot out of the event and it is a relevant investment then it is efficient to attend."

On a corporate level RX Global, the parent, has signed a pledge to follow a path to reach net zero and Mipim is using more local service providers and suppliers.

"The people working for and producing for Mipim are mainly local people which is not that easy as France is a very centralised country around Paris. Cannes is not a huge business area and we have spent a long time working on this."

CoStar News will be covering all the action at Mipim this year, alongside our sister titles Business Immo and Thomas Daily News and a dedicated film crew.