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Cannes Palais des Festivals et des Congrès

MIPIM (from the French: Le Marché international des professionnels de l'immobilier) is a four-day property and real estate and city event held annually in March at the Palais des Festivals in Cannes, France. Drawing thousands of international attendees to the French Riviera, it has become a major event in the property industry, but has also been criticised for its extravagance and sleaze. A sister event, MIPIM Asia, is held annually in Hong Kong.

History

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Organised by Reed MIDEM, a subsidiary of Reed Exhibitions (today RELX), the event was first held in March 1990,[1][2] and then attracted 2,950 attendees and 830 companies from more than 22 countries.[1] The MIPIM Awards were instituted in 1991[1] and the MIPIM Architectural Review Future Projects Awards started in 2002.[3] By 2009, MIPIM had become an established annual event where property developers, cities and local authorities could meet with potential real estate investors;[1] in 2018, while noting the event always attracted "tycoons keen to party on lavish yachts", the Financial Times also noted the attendance of Homes England, the Department for Homes, Communities and Local Government and the British Property Federation.[4]

According to the organiser's website, it draws around 20,000 participants from 90 different countries.[5] The event features some 20,000 sq m of exhibition space, a conference programme, numerous official and unofficial networking events, and an awards event featuring several categories of architectural projects. Spin-off events have also been held in other locations (for example, in London in 2014[6] and 2016,[7] New York City in 2023),[8] with MIPIM Asia in Hong Kong also an annual event.[9]

In February 2020, MIPIM organisers postponed the event to June 2020 due to the COVID-19 pandemic,[10] before eventually cancelling it altogether, along with the 2021 edition. It resumed in 2022.[11][12]

Criticism

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However, the cost of attending MIPIM in Cannes, and what some have regarded as excessive networking and socialising,[7] have come in for criticism. For example, amid UK public sector spending constraints, the cost of sending local authority representatives to Cannes has been attacked by councillors in Belfast[13][14] and Dudley.[15][16] In 2014, The Guardian said it had a reputation as "a champagne-soaked jamboree where local authority chiefs are wined and dined by investors".[17][6]

In 2018, MIPIM delegates' use of prostitutes was highlighted[18] (also noted by a Construction News journalist in 2001: "as a naïve young reporter, I was amazed to see a list of the best brothels in town contained within the unofficial, but widely distributed, event guide").[19] In 2018, after the London Presidents Club scandal had revealed the "sleazy underbelly" of the property industry, MIPIM organisers issued a 'code of conduct' forbidding businessmen from bringing prostitutes to its conference and exhibitions,[20] and several organisations including Coutts, HSBC and Bank of America Merrill Lynch withdrew their MIPIM delegations.[21][22][23] The male-dominated and sometimes sexist culture of the event has also been criticised.[19][24][25]

References

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  1. ^ a b c d "MIPIM Over the Years". CCT Investments. 25 March 2016. Retrieved 10 December 2024.
  2. ^ O'Keeffe, Jennifer (11 March 2024). "MIPIM: What is the real estate event and who attends?". Insider Media. Retrieved 10 December 2024.
  3. ^ "MIPIM Architectural Review Future Project Awards 2009". Architectural Review. Retrieved 16 September 2009.
  4. ^ Williams, Aime (18 March 2018). "Government and developers come together at property jamboree". Financial Times. Retrieved 11 December 2024.
  5. ^ "MIPIM - The Global Urban Festival". MIPIM. Retrieved 10 December 2024.
  6. ^ a b Wainwright, Oliver (15 October 2014). "Protests disrupt property fair in London". Guardian. Retrieved 10 December 2024.
  7. ^ a b Baxter, Holly (19 October 2016). "Voices All the sickening things insiders told me about MIPIM, the London conference for property magnates". Independent. Retrieved 10 December 2024.
  8. ^ Russo, Philip (3 March 2023). "MIPIM Propel Becomes MIPIM NY". Commercial Observer. Retrieved 11 December 2024.
  9. ^ "What is MIPIM Asia Summit?". MIPIM Asia. MIPIM. Retrieved 11 December 2024.
  10. ^ Fairs, Marcus (29 February 2020). "MIPIM property fair postponed until June over coronavirus fears". Dezeen. Retrieved 10 December 2024.
  11. ^ Ford, Coreena; Finch, Hannah (10 March 2022). "MIPIM 2022: Who is going to the international property conference and what to expect". BusinessLive. Retrieved 10 December 2024.
  12. ^ Phillips, Mike (17 March 2022). "Lower Numbers, Less Partying, But MIPIM Sees Real Estate Shrug Off Hazards". Bisnow. Retrieved 11 December 2024.
  13. ^ Kenwood, Michael (8 July 2022). "Controversial Cannes property conference sparks row among Belfast City Council". Belfast Telegraph. Retrieved 10 December 2024.
  14. ^ Kenwood, Michael (20 August 2024). "Belfast councillors clash over attendance at south of France property conference". Belfast Telegraph. Retrieved 10 December 2024.
  15. ^ Storer, Rhi (12 April 2023). "Dudley Council 'could have lost £400,000 of taxpayer's money over over Cannes conference'". Express & Star. Retrieved 10 December 2024.
  16. ^ "Calls for inquiry over £100k Dudley Council France trip". BBC News. 21 December 2023. Retrieved 10 December 2024.
  17. ^ Wainwright, Oliver (14 March 2024). "Anger at Cannes property fair where councils rub shoulders with oligarchs". Guardian. Retrieved 10 December 2024.
  18. ^ Hatcher, David (24 March 2016). "Not the property industry's finest hour". EGI. Retrieved 10 December 2024.
  19. ^ a b Marrs, Colin. "MIPIM sums up a changed industry". Construction News. No. 27 March 2024. Retrieved 11 December 2024.
  20. ^ Bloom, Jonty (27 February 2018). "Cannes property show accused of sleaze and sexism". BBC News. Retrieved 10 December 2024.
  21. ^ Neate, Rupert (16 March 2018). "Presidents Club scandal casts shade over 'sleazy' property industry". Guardian. Retrieved 10 December 2024.
  22. ^ Williams, Aime; Allen, Kate (24 January 2018). "Property executives dominate at men-only Presidents Club dinner". Financial Times. Retrieved 7 December 2024.
  23. ^ Mairs, Jessica (31 August 2018). "World's biggest property event criticised for response to Presidents Club scandal". Dezeen. Retrieved 10 December 2024.
  24. ^ "It's lads lads lads at MIPIM and that's the way we like it". Architects' Journal. 15 March 2023. Retrieved 10 December 2024.
  25. ^ Hughes, Kay (23 March 2018). "A woman's view of Mipim". Building Design. Retrieved 11 December 2024.
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