It was business as usual at MIPIM 2022. The international real estate event returned after a two year hiatus, and the excitement was palpable.
With a long-overdue burst of energy, MIPIM’s 20th anniversary saw the industry connect in person (a novelty in the midst of generation Zoom) and WiredScore was most certainly there, making the most of the opportunity.
The last time MIPIM took place was way back in 2019, and it’s fair to say that the property landscape has undergone a transformation of seismic proportions since. There was lots to discuss, plenty to catch up on, and loads to plan for as the industry steps into a new era of post-pandemic real estate.
Having weathered the COVID storm, real estate is ready to refocus on other imperatives, namely: adapting to the emergence of hybrid working; mitigating the built world’s harmful impact upon the climate; and the creation of desirable, sustainable, future-proof buildings in which to live, work, and thrive.
The MIPIM mood was one of renewed vigor – real estate must now cut through the noise of empty solutions and implement impactful policies that will benefit building users long into the future. Play time’s over, it’s time for action.
Laura Klair, Business Development Lead – Nordics and Central Eastern Europe, shares some post-MIPIM wisdom:
“Logistics emerged as the winning asset class of the pandemic. By actively embracing technological innovation, it’s attracted investment from all over the world. But concerns are now around cost, land availability and competition – time will tell how this newly triumphant asset class will cement its success within the space long-term.
“During the event, it was clear that the industry is on a comedown from the ‘ESG hype’, leaving business owners, developers, and landlords lost in a sea of unproven solutions. If real estate is to make strides on ESG, adopting a circular economy is essential.
“In amongst the relief that the worst of COVID has passed, there were still some home truths to tackle, and far from the challenges being over, it’s arguable that the real challenge is only just beginning. The missing piece is availability of materials; a more efficient method of reusing materials (ie: circular economization) needs to be prioritized to ease the consequence of rising construction costs and diminishing yields.”
Looking to tomorrow:
“What the industry has learned (and reiterated at MIPIM) is that technology for technology’s sake is far from productive. Instead, strategy, efficiency and resilience are all essential to safeguarding today’s assets against future obsolescence.
“Moving forward, success within real estate will hinge upon apt technological implementation that drives building efficiencies and really focuses on the experience of the user, delivering inspirational, cost efficient, sustainable and future-proof spaces.” Tom Redmayne, Managing Director, Business Development
Beating obsolescence means forecasting the state of play in decades to come. Of course, no one really knows what the future holds. But, by implementing long-term solutions, centered around real use cases, real estate can develop assets that are adaptable enough to accommodate social, technological, and environmental demands long into tomorrow’s world.