| Posted by Leonard Steinberg on March 13, 2011
From Sao Paolo to Chongqing, by way of Kigali and London, the international real estate community gathered in Cannes March 8-11, 2011, for the 22nd edition of MIPIM that saw an enlarged number of major projects unveiled to international investors and tour de force keynote presentations from Mayor of London Boris Johnson and international economist Nouriel Roubini. |
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| And in a sign of the times, the consensus among international mayors and leading city administrators who met at MIPIM’s third Mayors’ Think Tank on March 9, was that public and private partners will increasingly integrate quality of life considerations into their urban development projects.
International real estate consultants, including CB Richard Ellis (CBRE), Jones Lang LaSalle and Cushman & Wakefield, released market reports confirming 2011 growth while predicting investment diversification as prime product in gateway locations remains in relatively short supply. Internationally-renowned economist Dr. Nouriel Roubini addressed a packed conference to outline his analysis of the global economy. Noting a shift in global economic power towards the east, Dr. Roubini said that real estate companies should see opportunities in the emerging eastern markets as well as in Latin America and the Middle East. The general mood of the conference was notably more upbeat than the prior 3 years. Again we are reminded of the importance of GATEWAY LOCATIONS such as London, New York, Beijing, etc, and while the focus seems to be shifting Eastwards, of all cities in the USA, New York seems best positioned to maintian its status as a major world player in the global economy. Who knows what the effects of sharply higher oil prices, Middle East instability and Japan’s horrible crisis will be. |
