Unlike previous years MIPIM has become a meeting not only for those companies and individuals that directly create the real estate substance around us – but also there is a visibly growing number of participants that represent a wide range of businesses  that service this industry, and in particularly from the middle and higher position levels. This is an evident change in the event's participant structure.

An interesting oservation – paraphrasing Wojciech Młynarski' song, at this year’s MIPIM „for every participant there was one lawyer, one lawyer for one participant”. At one of the recptions of a large Scandinavian developer, almost half of the participants were lawyers. The presence of people from the executive search industry is also becoming very noticeable. Is this a good sign? It is hard for me to tell, yet I did notice that their presence often causes a pause in discussions and puts an abrupt end to some conversations. Press repesentatives arrrived in a smaller number and those participating seemed more passive in comparison to previous years.

During conversations with entrepreneurs from Central, Southern and Eastern Europe I listened with attention to their professional  problems – serious challenges – which included also unusual and quite fresh concepts for staying in business during a sales breakdown. For example one of the largest brokerage firms in Latvia is currently successfully and profitably preparing highly professional and detailed maps for the European Union, NATO and other international institutions, as large airport hubs.

'More' - a dynamic Romanian company, that perhaps was the only visible exhibitor from that country, maintains active and aggresive PR. Their remain pro-active in intervals between the industry meetings and conferences: the blog www.realinromania-blog.com with the owner's (often controversial) enries about the property market, two books published and sent by regular mail to potential business partners internationaly. I recommend and interesting post “2 lesson with MIPIM” in which the author (subjectively, I admit) comments on : Why Poland is and will coninue to be the leader in Central and Eastern Europe .

I recognize with undeniable satisfaction the changes in communication style of the Russian and Ukrainian representatives. First of all – the growing knowledge level of foreign languages, English of course but in every second case also French. The scope and level of conversations are more extensive and less sales oriented than they were in previous years; our Eastern colleagues listened with great interest and rationally commented, comparing to their own, local examples. I will here allow a comment that the clothes of the - beautiful as always - hostesses at the Russian stands is nowadays less and less revealing, perhaps to the dislike of some of the participants.

The Scandinavians – as always – like to stay in their own company; socially and doing business. Nevertheless during my meeting at the City of Copenhagen stand (best champagne) when my Danish friend told a few people that I am from Poland - a group of over 10 people gathered around and asked me very clear-cut questions about our market, predictions.

We certainly do have our 5 minutes – let us hope and work hard to make them last longer. We often speak of ourselves as champions of lost opportunities. In my opinion, to a certain extent at MIPIM 2010 we proved it yet again. Although and great banner above the entrance to Palais de Festival stated that Poland is the guest of honor at this year’s edition, it were the hostesses from Russia and France that stood right next to the stairs to exhibition levels for over three days and actively distributed brochures about their country markets and invited to their respective stands.

During a very interesting discussion panel on “Investment attractiveness of Polish cities” moderated efficiently by the Chief Editor of “The Real Estate Voice” a small group of foreign participants was surprised by the fact that the discussion was run in… Polish. I do not know why the representant of the Ciy of Krakow repeated as many as six times that “Krakow is an ancient residence of Polish kings” which unfortunately was the only element remembered from her speech by an German investment banker siting next to me, who also repeated it later as an anecdote.

It is a shame that there were no organised „national” visits to our exhibition stands, for example among chosen MIPIM exhibitors. The Polish cities' stands were mostly visited by ...Poles or foreigners that already work in Poland . However, there is nothing bad at all that can be said about the presentation itself – in comparison to previous years the location was excellent and the stands were appealing and modern. All the hosts of the “Euro 2012 stadium cities ” stands were very professional in giving information and the Vice President of Warsaw, Janusz Kochaniak, is certainly one of those officials who represent our country skillfully and with great class.

The President of PAIZ (Polish Information and Foreign Investment Agency) Sławomir Majman, renowned for his competence, connections and foreing languages spoken, was as well visible at MIPIM, but more among the Polish regional representations located in a different location than the “ Euro 2012 stadium cities”. I keep wondering why these two Polish presentations were so separated that… they even competed with each other to some extent.  Even the official banquet and the Warsaw stand – the major stand among the “ Euro 2012 stadium cities” – overlapped the “regional” one. The 'regions' were having their party that was splendid and vivid: Karol Okrasa cooked on the spot (chicken liver with glazed pears are now in my home menu) there was a live performance from a folk-jazz ensemble (and the musicians were smiling!), the PAIZ President tried to be everywhere to introduce the guests to each other and to create opportunities for new cooperation, the 'neighboring' Croatians, Serbians, Czechs and Slovaks were invited. Are we finally learning to 'sell' Poland well? I want to believe so.

The „city” banquet at the Warsaw stand, on the other hand, was more formal and dominated in 90% by Poles. It seems a shame – because that is also how it has been during the four days of the event, similarly during a well attended breakfast session devoted to Poland , organized by Europaproperty in the elegant Martinez Hotel.

Does this mean that the enthusiasm around the positive Polish GDP of 2009, repeating about the returning optimism in the sector, about the attractiveness and unmatched competitiveness of investments in our country can be a tad farfetched? Especially in the housing sector? Promotion, marketing, pride - of course - but toutes proportions gardées. The commercial sector lacks of a product that can meet western (German?) investor quality standards – and those which are subject for a transaction are mainly office and commercial projects that are strongly dependant from the outcome of the whole economy. As an example, the drop in office space rental prices – even to the effective level of 16,5 EURO per square meter in Warsaw city center – with heads on at the 'invisible' office sublease offer from those companies that wre forced to downsize or cut expansion plans – also does not look encouraging for an increase in volume for such transactions. There will be - are happening already - refinancing schems that will simply result in passing the cost onto the client: institutional one in the commercial sector, individual in the housing sector.

Coming back to the recent industry meeting in Cannes ; I would risk an opinion that the smaller amount of participants and exhibition smaller area of the in comparison to last year is nothing to be concerned about. It is an adjustment to the condition of the global and local market economies. In my opinion the exaggerated exhibitions that took over hundreds of square meters – most often those of Russian cities and Middle and Far East projects – will not return. As a memento, the unfinished or rather barely commenced tent and platform construction that was meant for the Spanish exposition really caught the attention and was commented on. To be fair I have to add that there were quite a few large Spanish stands on the exhibition ground: companies, cities and regions.

Despite almost two years of recession on the real estate and financial markets, one of the things that have not changed is the regular and rather high price of the event paricipation. Are the spring sun and the ambience of Cannes enough to attract the industry's reduced representation, when they have the opportunity to meet in the same company but at a five-time-lower price at Real Vienna or the Expo Real? Or at one of several annual award-ceremony events in the industry?

Ending this thought with a clear provocation, I have to add that not later than in two-months I will be buying my plane ticket to MIPIM 2011.

Joanna Iwanowska,  Vice-President of the European Property Institute

Source: Property Journal  4-5/2010