MIPIM 2013 NEWS 2

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DAY

Wednesday 13 March 2013 KEYNOTE SPEECH

Johnson calls for London investment See page 10

COUNTRY OF HONOUR

Istanbul mayor calls for sustainable growth See page 14

INNOVATION FORUM

3D vision aids building design See page 16

LOGISTICS

Blackstone expands logistics portfolio See page 18

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Contents IN PICTURES

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6 Opening Night Party

NEWS

10 *OHNSON CALLS FOR ,ONDON INVESTMENTs 12 -)0)- #HINA IS LAUNCHED s 14 Istanbul mayor’s grand vision

FEATURES MIPIM Awards 2012, Winner Profiles 67 MainTor, Frankfurt 69 Morocco Mall, Casablanca 71 The sovereigns are coming

Sovereign wealth funds are the new kings of the global investment market

74 Keynote Profile

J. Mayer H Architects Jurgen Mayer’s border checkpoint in Sarpi, Georgia

The MIPIM Visitors’ Club on Level 01 of the Palais is open to all participants. It offers a large range of services including WiFi, a meeting area and four meeting rooms that can be booked for private meetings, and a refreshment area. There is also a help desk specifically for first-time MIPIM visitors.

The MIPIM News team is located in the Palais des Festivals / Level 5

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The official MIPIM daily newspaper Wednesday 13 March 2013

Director of Publications Paul Zilk Director of Communication Mike Williams EDITORIAL DEPARTMENT Editor in Chief Graham Parker News Editor Doug Morrison Reporters Ben Cooper, Mark Faithfull, Tony Hazell, Mark Moore, Steve McCormack, John Ryan, Sub Editors Debbie Lincoln, Julian Newby, Joanna Stephens Copy Editor Chris Newby Technical Editor in Chief Herve Traisnel Deputy Technical Editor in Chief Frederic Beauseigneur Graphic Designers Muriel Betrancourt, Veronique Duthille, Carole Peres Head of Photographers Yann Coatsaliou / 360 Media Photographers Christian Alminana, Olivier Houeix, Michel Johner, Yohann Mortier Editorial Management Boutique Editions.

PRODUCTION DEPARTMENT Publishing Director Martin Screpel Publishing Co-ordinators Nour Ezzedeen, Emilie Lambert, Amrane Lamiri Production Assistant, Cannes Office Eric Laurent Printer Riccobono Imprimeurs, Le Muy (France).

Reed MIDEM, a joint stock company (SAS), with a capital of €310.000, 662 003 557 R.C.S. NANTERRE, having offices located at 27-33 Quai Alphonse Le Gallo - 92100 BOULOGNE-BILLANCOURT (FRANCE), VAT number FR91 662 003 557.

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in pictures

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Opening Night Party MIPIM’s Opening Night Party, sponsored by Nef and The Turkish Tourist and Culture Board, drew the crowds to the Martinez hotel to celebrate Turkey’s role as Country Of Honour

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in pictures

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The Nef team: Can Korur, sales manager (left); Selcuk Celik, sales and marketing director; Erden Timur, board member; Benal Caliskan, director Nef Bebekoy; and Berk Tavukcuoglu, sales manager

Mukaddes Loiselle, translator (left); Kalbiye Noyan, cultural attache Turkish Embassy in Paris, Turkish Tourist and Culture Board; and Cihat Gunsel, interpreter, Turkish Tourist and Culture Board

Yelda Alturk (left), Ceyda Carmiku Kilicaslan and Eda Carmikli Yolcu of Nurol Reit; with Conca Karakas of Effect

Simon Guy (left), Sarah Young, Terence Beckett, all from BRE

Fahri Gokyayla of Arqui 300 (left); Leyla Morova and Dara Kimizitoprak of Darakimizitoprak; with GQD’s Gokan Arcioglu

Gozde Gozum (left), Ramiz Soylu and Serdor Turan, all from Sur Yapi Endustri

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MontrĂŠal Safe Investment in a Creative Space Stand 19.02

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Johnson puts infrastructure at top of the list for London

L Akbank’s Galip Tozge

AKBANK OUTLINES TURKISH GROWTH STRONG financial rigour and a rapidly expanding economy continue to buoy the Turkish financial sector, said Akbank executive vice-president, consumer banking Galip Tozge, during a presentation at the Turkish Pavilion yesterday afternoon.

Tozge cited the strong balance sheets and liquidity of the Turkish banking community and said that foreign direct investment in the country had reached $110bn (€84.5bn) over the last nine years. “We are also seeing a growing mortgage market, which will reach 10% of total debt by 2015.

Banks are offering mortgages to non-nationals as well as local borrowers,” he said.

Tozge also pointed to other areas of growth, such as the expansion of shopping centre numbers from 44 in 2001 to 284.

ONDON’s Mayor Boris Joh nson yesterd ay launched a savage attack on the delays to improving the city’s infrastructure.

He said it was “absurd” and “shameful” that decisions on increasing the UK capital’s airport capacity were being delayed until 2015.

“At this rate it will be 2028 before the first plane takes off from a new runway,” he told a packed auditorium at MIPIM. “How many airports will the Chinese have built by then?”

He warned that London is already losing out to Schiphol airport in Amsterdam, which saw passenger numbers increase by 10% in 2011.

In a powerful speech Johnson said Crossrail 2 should be fasttracked to run in parallel with the current 118km Crossrail 1 railway infrastructure, which is due to open in 2018.

Recent talks with Br itish Chancellor of the Exchequer, George Osborne, had given him hope that Crossrail 2 could be brought forward from its current date of 2032, he said.

He also said it was “crazy” that he could not plan for the underground beyond 2015 when the current financial package ends. “We need long-term infrastructure planning for London.”

Johnson also demanded politicians “stop talking the language of austerity”. He called for more government support for business and

London Mayor Boris Johnson: Airport delays are shameful

greater investment adding: “There is huge scope for building hundreds of thousands of new homes in London. A quarter of smaller businesses in London are in the construction industry.”

And he called for low, predictable taxes: “We have got to stop knocking wealth creation.”

The Mayor unveiled ambitious plans to create the UK’s largest ‘floating village’ as part of his ongoing drive to transform the city’s Royal Docks bringing jobs, commercial space and homes back to the capital’s waterways.

His plans would see 6 ha of water at the Royal Victoria Dock site transformed into a thriving community with floating homes, hotels, restau-

rants and bars.

When complete it would be oneand-a-half times the size of Green Park and have some of the best transport links in the capital with a new Crossrail station, Docklands Light Railway and the cable car linking it to central London and Canary Wharf. Johnson has thrown down the gauntlet to investors at MIPIM to come up with a spectacular design that will make his vision of London’s first liquid postcode a reality.

And to those who still wonder about Johnson’s Prime Ministerial ambitions, he refused to rule anything out when his Mayoral term ends in 2016 — except becoming Pope on the basis that he isn’t Catholic.

DENNIS Lopez, global chief investment officer of AXA Real Estate, spoke at the Investors Lunch yesterday.

The invitation-only lunch, held at the Majestic hotel was sponsored by AXA Real Estate, KPMG and I&P Real Estate. Also speaking was Erwan Quintin, real estate professor at Wisconsin School of Business.

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CIT Y OF THE FUTURE CZECH REPUBLIC

2013 ( Stand # 08.24 – 10.23 )

Stand # 08.24 – 10.23 Come and taste genuine Moravian wine!

You are cordially invited to a reception hosted by the City of Brno and its partners on Wednesday, March 13, at 4.30 p.m. The reception is organised under the auspices of Lord Mayor Roman Onderka.

General partners

JIŽNÍ CENTRUM BRNO

Partners www.brno.cz

© iStockphoto.com/holgs

COME TO VISIT BRNO AT MIPIM 2013

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MIPIM event unveiled to focus on ‘enormous potential’ of China Russia’s regional development minister Igor Slyunyaev

RUSSIA IS NOW ‘VERY SAFE’, SAYS SLYUNYAEV RUSSIA’s regional development minister has affirmed his commitment to making his country’s regions a more attractive prospect for investors. Igor Slyunyaev said that boosting real estate development was the “duty of any authority, regional or national”.

He was speaking at a special press conference at MIPIM yesterday, after taking part in the official MIPIM opening ceremony with Reed MIDEM CEO Paul Zilk.

Slyunyaev said that his department was looking at a range of measures to simplify and support the investment market throughout the Russian Federation and encourage a more strategic, cooperative approach to development.

He conceded that the latter, especially, had been perceived as a reason to avoid the Russian regions in the past. But he insisted that big steps had been taken by his department to make the climate more stable for investors.

“Russia has become a safer place to do business in,” Slyunyaev added. “If you comply with the laws and if you respect all the existing legislation, there is nothing to worry about.

You’re very safe conducting business in Russia.”

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IPIM China was launched yesterday at the annual MIPIM Asia Lunch

by Reed MIDEM CEO Paul Zilk. MIPIM China will take place in Shanghai in the second half of 2014.

Reed MIDEM’s existing Asia event, MIPIM Asia, held annually in Hong Kong will continue in parallel with the new market.

MIPIM Asia will now focus exclusively on high-level conferences, networking opportunities and the presentation of the MIPIM Asia Awards.

The new event is being launched jointly by Reed MIDEM and its sister company Reed Exhibitions

China. Based on the highly successful MIPIM concept, MIPIM China will be an exhibition, conference and networking event for real estate professionals interested in the vast and rapidly growing Chinese market. Participants will include exhibitors and delegates from China and overseas.

“By introducing MIPIM China in 2014, we will create an event that is deeply focused on the enormous potential of the Chinese market,” Zilk said. “And as an ongoing event, MIPIM Asia will continue to provide a top business platform for executives and companies interested in real estate throughout Asia.”

Reed MIDEM’s Paul Zilk: “the enormous potential of the Chinese market”

MIPIM China was launched at the MIPIM Asia Lunch

LONDON mayor Boris Johnson was on hand at MIPIM to greet the 90 exhausted and elated riders who completed the eighth 1,500 km Broadgate Estates London to Cannes cycle ride. At their head — and looking fresher than most — was Olympic silver medalist Lizzie Armitstead, who joined the peloton for the final stage. Since it launched in 2006, the ride has raised £1.25m (€1.43m) for charity.

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neWs METROPOL TO BECOME WORLD LANDMARK TURKISH developer, investor and contractor Varyap is in a joint venture with Gap Insaat to deliver the Metropol Istanbul project, which on completion will be one of the world’s largest mixed-use schemes.

A ‘shared vision’ lies at heart of the Istanbul success story

Set in a prime location in the Istanbul International Financial Centre in the Atasehir district of the city, the Metropol Istanbul consists of three towers, according to Varyap executive Filiz Bilimlier.

He added: “The Metropol Tower will be the tallest, f lanked on either side by the Metropol Home-Office and the Metropol Residence.

“Also on the site will be the 100,000 sq m Metropol Shopping Centre, the Metropol Catwalk, a 400 m long retail street, a 16-screen cinema and a performing arts centre.”

Bilimlier said Metropol would be the first large-scale project in Istanbul “to be properly planned in its entirety on a grid system”.

Work has already begun on the project’s site, with completion targeted for 2014.

Completion of the Metropol Istanbul is scheduled for next year

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Istanbul mayor Kadir Topbas (right) arrives at the Turkish Pavilion

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HE LONG-standing mayor of Istanbul, Kadir Topbas, came through MIPIM yesterday on a flying visit to the Turkish Pavilion.

As mayor of one of Europe’s only four ‘world cities’ — the others being London, Paris and Moscow — Topbas gave MIPIM News the inside story of the burgeoning success of his 15 million-strong metropolis.

“The long-term key has been to share a vision,” Topbas said. “It’s the same whether you’re a family, a city or a government.

All sides want to share in the success of the city, and that’s only possible where all sides

agree fundamentally on how the city should shape itself.”

A large part of this shared vision involves bringing all sides in the development and planning of the urban environment together, the mayor said. “As the city government, we try to bring together all the stakeholders in the development of the cityscape and encourage them to work together. Only then will things continue to get bigger and better.”

Topbas also pointed to the underlying importance of sustainability in this cohesive process — “not in the conventional meaning of sustainability, but in terms of sustainable money, a sustainable citizenry and a sustainable municipal authority”, he said.

Growth and sustainability are not just issues for experts and businesses, Topba s a d d e d : they are everyone’s concern.

Mayor Topbas (right) being welcomed to the Tahincioglu stand in the Turkish pavilion

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Experience a building before it’s complete with Observ3D ISITORS to the MIPIM Innovation Forum can experience a virtual model of the Gare Maritime building surrounding them at the Stereograph stand.

The company is an expert in architectural and virtual imaging and is promoting two of its real-time visualisation tools at Cannes.

The first, Observ3D, allows customers to view and walk through representations of proposed or existing projects.

From design CAD files, the

V The Porous City model in the foyer of the Majestic hotel

TOWERS HIGHLIGHT SPACE DEBATE IN POROUS CITY MIPIM Innovation Forum is hosting the Porous City exhibition, masterminded

by Dutch architect Winy Maas.

Maas worked with The Why Factory in Delft, The Netherlands — a research institute for future cities — to build 1:100 scale models of high-rise buildings out of white Lego bricks. Their purpose was to investigate possible new relationships between mass and void in largescale architecture by creating structures that are 50% solid and 50% void.

Five of the towers are on display in the foyers of famous Cannes hotels: the Majestic Barriere, Gray d’Albion, Grand Hotel, JW Marriott and the Carlton.

And others can be seen in the MIPIM Innovation Forum in the Gare Maritime adjacent to the Palais.

Professor Maas will moderate a session today at 10.00 in the MIPIM Innovation Forum entitled Can Skyscrapers Be Sustainable?, featuring Emin Iskenderov, chief executive of Hermitage SAS, and Ma Yansong, founder of MAD Architects.

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company can create a flexible virtual model of real estate projects to simulate, test and evaluate services during the implementation phase, offering a glimpse of the features of the future building.

For example, the model of the Gare Maritime on display provides a realistic impression of the actual exhibition space hosting this year’s event.

Users can customise the model, which can be linked to a range of supporting tools such as GPS or a customer relationship manager.

“Real estate developers immediately understand that this is a solution to an actual problem,” said Christophe Robert, Stereograph CEO. “They tell us that such tools are really effective and speed up the selling process by a factor of four.”

Stereograph is also promoting its Theia real-time supervising system. This brings together a range of sensor data and presents it via interactive user-friendly graphics. This web-based, scalable system can be used to manage anything from a single room to a city.

Stereograph joint-CEOs, Manuel Gomes (left) and Christophe Robert

Three steps to sustainability AMONG the market leading organisations taking part in the MIPIM Innovation Forum, Mitsubishi Electric is promoting its sustainable approach to energy-use in the built environment.

It offers clients the ability to replace old carbon-heavy technology in buildings to enable them to work efficiently and meet the new tough carbon targets throughout

their lifecycle. The company’s Green Gateway policy supports a three-stage approach to achieving the right heating, cooling, ventilation and power with the ultimate goal of producing sustainable buildings.

The first step is to reduce the need for energy consumption.

Secondly, the most appropriate and efficient systems are correctly

deployed and monitored. Lastly, low- and zero-carbon technologies are incorporated where possible to create some or all of the energy required. This staged approach helps to identify the measures needed to achieve the required low-energy, low-carbon results.

Attending its seventh market, Mitsubishi Electric presents at the Innovation Forum today at 11.30.

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neWs Every day this MIPIM, Paul Strohm, editor of EuroProperty, shares insights from the European real estate publication’s research database EUROPEAN fund managers have had a tough ride through the post-Lehman Bros. financial crisis and have altered their strategies radically to fit the market and investor preferences.

Last year at MIPIM, Amundi Real Estate, part of France’s €727.4bn Amundi Asset Management group, announced plans to launch a €700m fund later in the year to invest specifically in greater Paris offices.

Amundi Real Estate CEO Nicolas Simon said the fund would attract capital into the French office sector from European pension funds and insurance companies, as well as from Middle Eastern and Asian investors. But the vehicle was pulled pre-launch as demand from institutions shifted from discretionary pooled funds to direct real estate and specific club deals.

So instead, Simon fashioned customised solutions for Amundi investors based on club deals and joint ventures, recently creating a dedicated vehicle into which an insurance company client’s €500m property portfolio was placed.

He is also exploring sale and leaseback’s potential and has successfully placed with institutions an OPCI (real estate collective investment fund structure) containing a number of METRO cash and carrys in France. This meets the needs of investors and allows METRO to liberate funds for expansion in China, Russia and Turkey.

Similarly, development can also benefit from a more pragmatic approach. Amundi is bringing in a club of investors to underwrite a €60m forward-funded, speculative commercial scheme in Paris.

As PMA’s latest investor intention survey, published in the next edition of EuroProperty, will reveal, sentiment is now more positive towards property in France, the UK and Germany than in the last nine months or so.

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Blackstone seeks to expand European logistics portfolio

The MIPIM Logistics Hub hosted a series of three-minute pitches

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NVESTOR Blackstone would like to expand its already extensive European logistics offer by acquiring logistics assets in Germany, the Netherlands and Italy, while establishing a greater presence in Poland.

Blackstone managing director Jonathan Lurie, speaking after yesterday’s power meetings at the Logistics Hub, said that Blackstone — currently the third largest logistics space-owner in Europe — believed that potential remained for a greater presence across key markets.

Lurie said: “We are very big advocates of logistics, having seen growth in occupier demand from retailers, e-commerce companies, service providers and the manufacturing industries. We have a diversified portfolio from that point of view and we would like to keep it that way.”

Lurie added that the investment market was becoming more established as the quality

of building stock improved. He said: “We favour newer and larger assets because they tend to be better constructed, are more energy efficient and have features that help preserve their value. What we are seeing generally now is more institutional-grade stock being built.”

With supply still constrained, Lurie said that Blackstone tends to acquire without leverage and finance later, which has enabled it to move quickly in transactions with motivated sellers. He expected more growth in Poland, even though Blackstone was the largest acquirer there last year, due to domestic demand and the country’s geographical location at the centre of Europe.

Lurie was one of around 20 senior executives from the logistics sector who took part in yesterday’s power meetings, at which businesses were able to pitch their ideas and buildings via a series of three-minute meetings.

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neWs EUROPE FLAT BUT STABLE, SAYS KNIGHT FRANK DESPITE the continuing uncertainty about the wider economic climate, most European commercial real estate markets remain flat but stable, showing “limited prospects for growth”, according to Knight Frank research published this week.

Rental values and investment yields have proved particularly sturdy in the prime office sector, with only a few major cities, including Dublin, Barcelona and Milan, showing slight falls in rent.

The figures were published in Knight Frank’s quarterly European Market Indicators report. The UK-based agency said that overall average European prime office rent fell by 0.9% in the last quarter, but noted that this figure is only 0.6% lower than in the same period a year ago.

On the investment side, the figures reveal a small inward movement of prime office yields to 5.63%. It is the first time the overall figure has fallen in over a year. In Brussels, Moscow, Warsaw and London’s West End, prime yields have been unchanged for more than a year, the report revealed.

Commenting on the findings, Knight Frank associate for international research, Matthew Colbourne, said: “With the eurozone widely forecast to remain in recession during 2013, office occupier market activity is expected to be restrained across much of the continent. For most European markets, prime office rents are expected to either remain stable or show only modest increases.”

But Colbourne added that, while the overall picture is relatively stable, uncertainty remains in the eurozone.

“Further falls in rents in some southern European markets cannot be ruled out over the course of 2013,” he added.

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Leanne Tritton @leannetritton #MIPIM is the Tour de France of networking.

Shoes already starting to let me down. I feel like Lance Armstrong without a bag of EPO.

Warsaw Spire project points to new era for Polish capital N AMBITIOUS project to deliver Warsaw’s second tallest building is under way in the Polish capital, lead by international developer Ghelamco.

The Warsaw Spire, currently under construction, will be Poland’s tallest office building, and the country’s second overall tallest building after the Palace of Culture and Science.

The largest office building currently under construction anywhere in Europe, the project includes a main tower and two smaller buildings. It is set for completion in early 2015.

Designed by lead architects Jaspers-Eyers Architects, the War-

saw Spire will occupy an area of the city centre currently undergoing major regeneration, with a number of developers engaged in retail and residential developments in the vicinity. It will also benefit from the new Ghelamco’s Jeroen van der Toolen: Warsaw’s first mixed-use development East-West metro line, set for comtal, will be surrounded by a new pletion in 2015, which will bring square featuring restaurants and a new station within walking dis- leisure buildings. Developer Ghetance of the scheme. lamco is currently in talks with The Warsaw Spire, which will a number of key tenants to take deliver a total of 100,000 sq m space in the tower and the two of office space to the Polish capi- smaller buildings, each of which is 20,000 sq m in size.

Ghelamco managing director Jeroen van der Toolen expects 50% of the overall project to be leased by the end of 2013, with two large companies likely to take around half of the tower.

He said: “It’s going to be the most modern office building in Warsaw. It’s the first time in Warsaw that a whole new mixeduse area is being built. We want to create a square that people working in the offices will want to hang out in, and where people can meet in the evenings to go to the restaurants.”

In addition to the Warsaw Spire project, the developer is also showcasing a range of smaller developments under construction or already completed throughout Europe. These include the 40,000 sq m Mokotow Nova office comThe Warsaw Spire is the largest office building currently under construction in Europe plex, also in Warsaw.

A

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HTL lounge the meeting point for OV[LS [V\YPZT SLPZ\YL real estate professionals

HTL activities — day two — Wednesday, 13 March 2013

The HTL lounge situated at level 3 of the Palais des Festivals is the platform for representatives of the hotel, tourism and leisure sector.

12:30 12:45

HTL presentations Spread over the entire duration of MIPIM and clustered into five topical sessions of half a day each, top-notch hospitality professionals pitch their projects in front of a 40-seat audience and showcase their business opportunities. Pop by and be part of it!

Luxury hotels and resorts – hospitality at its best 14:00 Hilton Frankfurt Airport, Germany 14:15 Luxury hotel openings in London 14:30 Smart + green-eco: building services solutions for luxury hospitality and mixed-use residences 14:45 5-star resort hotel in Tróia, Portugal 15:00 A new Ascott in London: The Cavendish business case 15:15 Hotel architecture: return on design Hotel Bella Sky, Copenhagen 15:30 Divan Hotels & Residences 15:45 51 degrees of bliss: thermal waters and the 21st century resort hotel A project in Leukerbad, Switzerland 16:00 Raffles Istanbul Zorlu Center 16:15 Porto Montenegro 17:15 HTL cocktail reception 17:15 HTL power meeting

Boutique hotels – urban hideaways 10:00 Welcome 10:15 Enjoy 10:30 The tip of Java Island – Amsterdam 10:45 Evenia boutique hotel la Candelaria in Bogotá, Colombia 11:00 Boutique hotels – how to make them 11:15 Why not green?

11:30 Boutique hotel development in Santa Monica, California 11:45 Town Hall Hotel 12:00 Buda Post Palace 12:15 Me London: the present and future of the ME brand

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Design does matter!

Regent Hotels & Resorts – bespoke experiences

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Ideas for evolving cities Game skills aid training

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HE INCREASING role that video gaming technology will play in the business decision process was explored during Enodo’s presentation yesterday at the MIPIM Innovation Forum.

According to Julie Mercier, business developer at the company, people’s attention is today’s most valuable commodity and the goal should be to get people engaged and feeling involved.

In her Next Generation Communication talk she described how features that make games successful can be adapted for use in the real estate sector to achieve results.

She noted that leading companies are becoming aware of the value of presentations that provide immersion and interaction,

Professor Ingrid Nappi-Choulet

contribute to that change.”

She said that of the many emerging changes, which will be discussed at the session, the move towards ‘campus style’ office builds, rather than tower blocks is one of the key trends.

Professor Nappi-Choulet said that the session would provide insight to real estate professionals as well as academics with an interest in the evolving city as a concept.

S En eafr tra ont nc e

E A L E st a t e A nd Cha nging Society: Ideas For The City Of Tomorrow, at 15:30 today, is part of a busy schedule of debates and panel discussions at the MIPIM Innovation Forum, organised with the Real Estate and Sustainable Development Chair at the ESSEC Business School on the outskirts of Paris.

Topics to be discussed include how developers and investors can shape the cities of the future to reflect changes in society.

Real Estate and Sustainable Development Chair director, Professor Ingrid Nappi-Choulet, said: “We want to look at all the social factors that are shaping the cities of tomorrow, how property companies are responding to social change, and how they can

Enodo’s Julie Mercier

allowing people to feel like active participants. She predicted that by incorporating features developed for games in project presentations, the real estate sector will be able to transform passive observers into involved stakeholders.

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Acce es ss tto Lerin ns Ha ns Hall alllll & Rivie e Sea era ea aview a view

Schedules are available in hotels and at any information point in the Palais des Festivals

PALAIS DES FESTIVALS C En roise tra tte nc e

GARE IME MARIT

Mipim Shuttles

Shuttle hotline: +33(0) 620 93 00 62 The world’s property market

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If your hotel is located outside Cannes, check out the free shuttle service.

Available to all delegates from 08:00-00:00

Come visit the GATEWAY NETHERLANDS PAVILION ” Best practices of inner city development”

“How sustainable is the Dutch property market?”

Tuesday 12 March, from 16.00 to 17.00, in Gaudi Room

Wednesday 13 March, from 17.30 to 18.30, in Gaudi Room

Speakers: Hi^Vc 7Zg\Zg GdhaVcY! <dkZgc^c\ BVndg! 8^in d[ Dhad Cdgb 7djX]Zg! BVndg! 8^in d[ BZY^X^cZ =Vi AZdcVgY =# @d`! BE6! 8:D 9ZeVgibZci [dg :Xdcdb^X VcY JgWVc 9ZkZadebZci! 8^in d[ i]Z =V\jZ BhX =Vch KVc Gdhhjb! Egd_ZXi 9^gZXidg BV_dg Egd_ZXih! 8^in d[ GdiiZgYVb! JgWVc VcY :Xdcdb^X 9ZkZadebZci Moderator: Egd[# <gZ\ 8aVg`! <adWVa 8^i^Zh 6Yk^hdg! I]Z 7jh^cZhh d[ 8^i^Zh AiY

Co-organiser: <G:H7 6hhdX^Vi^dc Speakers: GdWZgi 9^_X`bZZhiZg! 9Ze BVcV\^c\ 9^gZXidg! Oj^YVh 6bhiZgYVb 9ZkZadebZci D[ÄXZ ?ZgdZc <VaaZ! Edgi[da^dbVcV\Zg 6Xfj^h^i^dc! B67 9ZkZadebZci GdZa KdaaZWgZ\i! 8]V^gbVc d[ i]Z 7dVgY d[ 9^gZXidgh! 6B Wk Moderator: :ahWZi] Fj^heZa! =ZVY d[ HjhiV^cVW^a^in! <G:H7

Join us on stand 02.24-04.23, level 01

THE HAGUE CREATIVITY, INNOVATION AND SPIRIT OF COMMERCE

INTERNATIONAL CITY OF PEACE AND JUSTICE

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In partnership with:

www.haarlemmermeer.nl

www.am.nl

www.sadc.nl In partnership with:

www.zuidas.nl

www.potofamsterdam.nl

www.heijmans.nl

www.syntrusachmea.com

WORLD PORT, WORLD CITY

CITY OF CULTURE AND KNOWLEDGE

GdiiZgYVb ^h V ndjc\! YncVb^X! ^ciZgcVi^dcVa X^in l^i] V eVhh^dcViZan WZVi^c\ ]ZVgi# I]Z X^in Xdci^cjZh id gZ^ckZci ^ihZa[ Vi V gVe^Y eVXZ! gZYZÄc^c\ VcY ZmeVcY^c\ ^ih VagZVYn ^begZhh^kZ h`na^cZ! egZhZci^c\ cZl XjaijgVa VcY hedgi^c\ ZkZcih id hjgeg^hZ VcY YZa^\]i ndj ZkZgn i^bZ ndj k^h^i# >ih ZkZg"X]Vc\^c\ cVijgZ bV`Zh ^i V X^in i]Vi ndj XVc gZY^hXdkZg i^bZ VcY V\V^c# GdiiZgYVb ^h/ " I]Z <ViZlVn id :jgdeZ! Vh :jgdeZ¼h aVg\Zhi! VcY dcZ d[ i]Z ide * bdhi ^bedgiVci edgih ^c i]Z ldgaY# " HigViZ\^XVaan adXViZY ^c i]Z :jgdeZVc bVg`Zi l^i] ZmXZaaZci VXXZhh Wn gdVY! gV^a! V^g VcY lViZg# " 6c ZcigZegZcZjg^Va X^in# I]Z X^in¼h »gddb [dg ^c^i^Vi^kZh¼ XdcXZei VcY ^ih ¼Ydlc id ldg`¼ bZciVa^in bV`Z i]Z X^in V hiZee^c\ hidcZ [dg ZcigZegZcZjgh# " =dbZ id ide fjVa^in ^ciZgcVi^dcVa gZcdlcZY `cdlaZY\Z ^chi^iji^dch VcY jc^kZgh^i^Zh! WdVhi^c\ V iVaZciZY VcY ]^\]an" h`^aaZY ldg`[dgXZ#

JigZX]i¼h edejaVi^dc! ZXdcdbn VcY ZbeadnbZci Ä\jgZh \gdl hiZVY^an ZkZgn nZVg! YZhe^iZ i]Z cVi^dcVa VcY :jgdeZVc Xg^h^h# JigZX]i¼h XZcigVa adXVi^dc! Vi i]Z XgdhhgdVYh d[ ^ciZg cVi^dcVa ]^\]lVnh VcY gV^agdVYh ^h Vh ^bedgiVci Vh ZkZg# I]Z ]^hidg^X ^ccZg X^in VgZV WjooZh l^i] h]deh! ZciZgiV^cbZci! Vgi VcY XjaijgZ# JigZX]i ^h V higdc\ bZZi^c\ eaVXZ d[ iVaZci! YjZ id ^ih aVg\Z jc^kZgh^in VcY bVcn `cdlaZY\Z gZaViZY ^chi^ijiZh VcY XdbeVc^Zh# ;dgbZg hijYZcih hiVn ^c i]Z X^in! VcY [dgb V ndjc\! ]^\]an ZYjXViZY ldg` [dgXZ# 8dci^cjZY ^ciZgZhi d[ XdbeVc^Zh VcY eZdeaZ id hZiiaZ ]ZgZ ^h iZhiVbZci id i]Z ViigVXi^kZcZhh d[ JigZX]i# 7n '%'*! JigZX]i ZmeZXih id \gdl id (,,!%%% gZh^YZcih# CdiVWaZ gZVa ZhiViZ egd_ZXih ^cXajYZ/ " JigZX]i hiVi^dc 6gZV lll#Xj'%(%#ca " AZ^YhX]Z G^_c lll#aZ^YhX]Zg^_c#ca " JigZX]i HX^ZcXZ EVg` lll#jigZX]ihX^ZcXZeVg`#ca

In partnership with:

In partnership with:

www.cool63.nl

www.multi.eu

www.asrvastgoedontwikkeling.nl

www.amred.nl

mipim

neWs NEWS IN BRIEF

MOROCCO PPPS HELP TO STIMULATE THE JOB MARKET

Russian property startups here to meet with global investors

MOROCCO has launched several strategies to develop its internal economy and stimulate growth. As part of the initiative the Moroccan government has entered into a series of Public and Private Partnerships (PPPs) to reduce complexity and bring in specialised skills.

So far developers Casanearshore and Technopolis have unveiled plans for 600,000 sq m of offices in four regions of the country. This will create more than 70,000 jobs. The companies are acknowledged as among the biggest asset developers for offices and industry in Morocco as well as for attracting tenants with professional capabilities in the outsourcing and high-tech sectors. So far they have constructed and leased more than 267,000 sq m of office space and 27,300 sq m of industrial space.

T

POLAND RECORDS THREE YEARS OF GROWTH

Design gets project out of a tight spot

HE RUSSIAN Guild of Property Managers and Developers is in Cannes championing the cause of real estate developers throughout Russia.

The Guild is at MIPIM with a large delegation of participants from small, medium and large property companies and individuals from all over Russia hoping to attract investment and interest in their projects.

The Guild has organised one of its Investors Club sessions at 16:00 today. The Investors Club introduces small companies to the wider investment community both within Russia and from the wider international market.

The Club allows developers to meet with potential investors face-to-face and receive feedback and advice on how to proceed with their projects.

Guild of Property Managers and Developers executive vice-president, Pavel Goncharov, said

Guild of Property Managers and Developers executive vice-president Pavel Goncharov

that the organisation was set up to promote the interests of small and medium developers and work to achieve the “maximum opportunities” for its members.

He added: “Russia is developing well and the Russian market has a lot of opportunities for com-

THE POLISH real estate market remained stable in 2012 with some particularly positive trends emerging in the warehouse investment market, a new report has said. The MarketBeat Poland — Spring 2013 report, published this week

by Cushman & Wakefield in Poland, reveals that in the overall commercial investment market, transactions have seen three years of consecutive growth and at the end of last year reached €2.8bn, the highest they have been since 2007.

On the development front the warehouse sector alone saw some 500,000 sq m of new space completed.

Paul McAneary Architects has made the most of a cramped position

30

panies interested in developing their business. The retail market has definitely recovered since the crisis.

“In Moscow and St Petersburg there are interesting formats, and in the regions as well. It’s a good time to invest in Russia”.

PAUL McAneary Architects’ latest project in North London’s fashionable Camden marries sustainable features with an iconic cantilever design to make the most of an extremely constrained site.

Eco-lever will provide nine openplan contemporary apartments.

Bounded on all sides by a railway, a public park, a garage and a road, the design looks to use these constraints to its advantage.

Its top three storeys step out to cantilever over the railway lines, maximising the amount of development space and creating a landmark building for the area.

A striking dual facade creates an attractive and ecological solution to the problems of solar gain and noise pollution from the high-speed trains.

Make every square count Square foot, square metre or square deal. Whatever your SHUVSHFWLYH RQ SURSHUW\ ZH FDQ KHOS \RX ÂżQG WKH YDOXH LQ HYHU\ square.

Find us at MIPIM stand LR4.14

joneslanglasalle.com

mipim

neWs

Danish acquisition marks ECE’s Scandinavia debut

Rosengardcentret is ECE’s first Scandinavian acquisition

E

CE’s European Prime Shopping Centre Fund has acquired Rosengardcentret in Odense, the second-largest shopping centre in Denmark, from private investors, at the same time making its market entry into Scandinavia.

Rosengardcentret, which opened in 1971 and has been extended and modernised several times since, has more than 100,000 sq m of lettable area and around 160 shops including a CinemaxX cinema and a fitness centre. Tenants include Fotex, H&M, Bolia, Deichmann, New Yorker, Nike, Sony, Toys ‘R’ Us and Tommy Hilfiger and the centre has 3,000 parking spaces.

Of the acquisition ECE said that Rosengardcentret is one of the most established shopping centres in Denmark with approximately 7.5 million visitors annually. Takeover of manage-

32

ment and leasing by ECE takes place on Friday, replacing the existing Danish centre management team.

Dr Volker Kraft, managing partner at ECE Real Estate Partners, said: “The acquisition of Rosengardcentret is the largest transaction completed for the ECE European Prime Shopping Centre Fund to date. The purchase is very exciting for us as it ensures further geographic diversification across our portfolio and fits well within the fund’s strategy to acquire prime dominant shopping centres with value-creation potential.”

The ECE European Prime Shopping Centre Fund manages €775.5m in equity commitments from a range of global and experienced institutional investors.

The fund concentrates on the acquisition of existing shopping centres across continental Europe, with the potential to add value.

BRUXELLES

WAVRE

TOURNAI

MONS

CHARLEROI

LIÈGE

NAMUR

ARLON

JOIN US ON BOOTH 05.20 - 07.19 LEVEL 01

WALLONIA

A BELGIAN REGION

www.wallonia-mipim.be

FOR MIPIM BADGE HOLDERS ONLY WEDNESDAY 13TH

• 09.00 AM – 10.30 AM / IBM BREAKFAST SMART CITIES - GRAY D’ALBION • 11.30 AM – 12.30 AM / COCKTAIL «QUARTIER BELGE» - ON BOOTH • 01.00 PM – 02.00 PM / EUROGARE PROJECTS - ON BOOTH • 02.00 PM – 02.30 PM / FORUM INNOVATION IBM - SMART CITIES - MARITIME STATION • 03.00 PM – 03.15 PM / GRE - LIEGE AREA PROJECTS - ON BOOTH • 04.00 PM – 07.00 PM / FROM BRUSSELS TO ARLON THROUGH NAMUR (BEP - IBW IDELUX) - GRAY D’ALBION • 07.00 PM – 09.30 PM / EUROMÉTROPOLE COCKTAIL - PLAGE ROYALE

be

ALLONIA

mipim

neWs IT’S ALL CHANGE FOR CROYDON FOR THE third consecutive year, private-sector developers and other related businesses have come together under the Develop Croydon banner.

A presentation entitled Croydon Delivering Change will take place this afternoon, focusing on the large-scale office, residential and public developments that are under way in the London suburb.

Retail giants Westfield and Hammerson have together pledged a £1bn (€1.14bn) redevelopment of the town’s retail core.

There is also the first speculative new grade A office building in Croydon for over a decade by Abstract Securities. And 18,600 sq m of grade A office space is being remodelled by Canmoor/ CarVal. Berkeley Homes and Barratt have undertaken large residential schemes.

Croydon’s aim is to be recognised as London’s most enterprising borough.

‘Creative’ Lille is ripe for investment, Aubry says

L

ILLE has passed seamlessly from a 19th century industrial economy to a 21st century creative hub, according to Martine Aubry, formerly first secretary of the French socialist party and, since 2001, mayor of France’s fourth largest city.

Pointing to the textile industry, Aubry said that the sector, which was the region’s backbone, now has 200 companies employing 9,000 people making high-tech fibres.

Aubry also observed that Lille, which invented the hypermarket, is now in the vanguard of reinventing the concept — in the same manner that it is modernising agricultural practices. She added that, coupled with fast connections to Paris, London and Brussels and a young population

(40% of the region’s population is under the age of 30), Lille offers a highly positive environment for inward investment.

In addition to its extensive investments in new technology, health, recycling and a raft of eco-related initiatives, Lille is also a convivial place in which to live, work and study. All of which added up to an office property market that rose by 23% in metropolitan Lille during 2012.

Aubry is speaking at MIPIM about Lille and its potential at tomorrow’s session, Lille’s Road To Excellence.

With a population of 226,000, the central area is relatively small, but the Lille Metropole area has over 1 million inhabitants, making it the fourth largest urban agglomeration in z

TAKE MIPIM TO GO! Download the MIPIM app for free today!

The official MIPIM app provides essential show info anytime, anywhere - even when offline!

Access: +exhibiting & visiting companies list +floor plan to locate exhibitors and set itineraries +full event schedule +speaker lineup +social networking +practical Cannes info +more…

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34

Mayor of Lille Martine Aubry

France. The city benefits from rapid links to London, Brussels and Paris and is a stop on the Eurostar line between the French and British capitals. It is also France’s third largest river port with more than 680km of navigable waterways.

12 -15 MARCH 2013 Palais des Festivals

Cannes, France

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Ocean can maximise revenue from your property portfolio by developing the most iconic advertising sites in Britain.

Visit us at MIPIM 2013, stand R31.36, Riviera Hall or online at www.oceanoutdoor.com/landlords

MIPIM CONFERENCES AND EVENTS WEDNESDAY 13 MARCH 10.00 - 10.30 TUR

TURKISH PAVILION

10.00 - 13.00 HTL

HTL LOUNGE

Office investments in Turkey: a rising star?

Co-organiser: REImonitor

HTL Presentations: Boutique hotels - urban hideaways Co-organiser: PKF hotelexperts

10.00 - 11.00 FIN

11.00 - 13.00 CIT

HOBAN

Green and performing buildings, what are the new perspectives in Europe?

Co-organiser: Juridim 10.00 - 11.00 GEO

GAUDI

Brazil: new grounds for development Co-organiser: Vida Imobiliaria 10.00 - 11.00 INNO

MIPIM INNOVATION FORUM

KEYNOTE PANEL: can skyscrapers be sustainable?

Prof. ir Winy Maas, Director - Architect, MVRDV Emin Iskenderov, Chief Executive Officer, Hermitage SAS Ma Yansong, Founder, MAD Architects 10.00 - 11.30 LOG

LOGISTICS PAVILION

3 logistics pitching sessions 10.00-10.30 Montreal, the logical North American gateway Organiser: Montreal Airport

MAJESTIC HOTEL, SALONS ROYAN 1 & 2

MAYORS’ THINK TANK Local authorities’ perspectives and opportunities for the next decade.

What are the measures of attractiveness and competitiveness?

By invitation only Sponsored by GDF Suez In partnership with: BPF, CCRE/ CEMR, Eurocities In collaboration with: UNEP

11.30 - 17.00 INNO

MIPIM INNOVATION FORUM

30-minute innovation showcases 12.00 - 12.30 INNO

MIPIM INNOVATION FORUM

Case study Urban evolution Organiser: MADE Expo 14.00 - 17.00 HTL

HTL LOUNGE

HTL Presentations: Luxury hotels and resorts hospitality at its best Co-organiser: PKF hotelexperts 14.00 - 14.30 INNO

MIPIM INNOVATION FORUM

13.00-14.30 Mayors’ Lunch: Political leaders meet end-users By invitation only Sponsored by GDF Suez

Case study Euro Green IT Innovation Center a public-private initiative with the Regional Walloon Governement Organiser: Wallonia

11.30 - 12.15 TUR

14.00 - 14.30 TUR

TURKISH PAVILION

Turkish Real Estate Sector in the Vision of 2023 Co-organiser: GYODER 11.30 - 12.30 SEG

AUDITORIUM A

KEYNOTE ADDRESS Turkey’s economic outlook and key investment opportunities Ali Babacan, Deputy Prime Minister of Turkey

HOBAN

Healthcare real estate: a global overview Co-organiser: Your Care Consult

14.30 - 15.30 FIN

GAUDI

11.00-11.30 Trends in industrial Real Estate Organiser: SIOR

Private equity real estate Co-organiser: PERE

Evolving investment structures in Europe: finding value in European funds and REITs Co-organiser: IPD Sponsored by Aberdeen Asset Management

11.30 - 12.30 LOG

14.30 - 15.30 INNO

10.00 - 11.30 INNO

Logistics hub: multimodal and intermodal freight transport

10.30-11.00 Logistics Funds Investment Strategy in Northern Europe, LOGISTIS’ story Organiser: AEW

MIPIM INNOVATION FORUM

Innovators’ Vision: MIPIM Awards’ screenings Powered by Pecha Kucha*

11.30 - 12.30 FIN

AUDITORIUM A

GAUDI

12.30 - 13.00 Meet the speakers

MIPIM INNOVATION FORUM

The future of CRE: trends to set to revolutionise our industry Co-organiser: CoreNet Global 14.30 - 15.30 HTL

HOBAN

Key Lessons from Successful developments of Hotel Projects *Pecha Kucha: creative format of presentation based on 20 images, 20 seconds of talk per image

GEO Geographical focuses

FIN

Finance & Investment

HTL Hotel, Tourism & Leisure

SEG Focus by segments

INNO Innovation

LOG Logistics

TUR Turkey, Country of Honour

EVE MIPIM Events

CIT Cities & Infrastructure

Access to MIPIM 2013 conferences and events is free of charge for all registered delegates, within the limit of space available. Programme as of 8th March 2013.

All information contained in this programme may be subject to change.

14.30 - 17.00 LOG

15.30 - 16.15 INNO

LOGISTICS PAVILION

5 logistics pitching sessions 14.30-15.00 Fjordby: Reconciliating/rebalancing urban identity and development Organiser: Port Of Oslo 15.00-15.30 Les Haies Blanches Business Park Organiser: Panhard

Real estate and changing society: ideas for the city of tomorrow In association with: ESSEC Business School 16.00 - 16.30 TUR

16.00-17.00 SEG

16.00 - 17.00 CIT

16.30-17.00 French Aube logistic Cluster: optimatization of the operating performance Organiser: Concerto Ed

16.15 - 16.45 INNO

Kengo Kuma, Architect, Kengo Kuma & Associates TURKISH PAVILION

Improving the investment climate in Turkey Co-organiser: GISP (Centre for Strategic Thinking in Real Estate) 15.30 - 16.00 INNO EVE

GAUDI

17.15 - 18.00 HTL EVE

MIPIM INNOVATION FORUM

HTL LOUNGE

Power Meetings Hotel groups meet investors Pre-registration required

HOBAN

UK: The future of city funding Co-organiser: GVA

17.30 TUR

TURKISH PAVILION

Cocktail reception MIPIM INNOVATION FORUM

17.30 - 18.30 LOG

HOBAN

Guenther Oettinger, European Commissioner for Energy, Commission Européenne

Airport areas as economic engine In partnership with Hubstart Paris & Paris Region Economic Development Agency

16.45 - 17.30 TUR

17.30 - 18.30 GEO

Key challenges of the EU Energy Policy

AUDITORIUM A

MIPIM INNOVATION FORUM

Innovators’ Vision: MIPIM Awards’ screenings Powered by Pecha Kucha*

KEYNOTE ADDRESS

KEYNOTE ADDRESS BY

15.00 - 15.45 TUR

17.00 LOG EVE LOGISTICS PAVILION Logistics Cocktail reception 17.00 - 19.00 INNO

RE-entertainment: an upcoming trend for developers and investors?

Co-organiser: BRC Imagination Arts BV

16.00-16.30 Innovation & Supply Chain Management in the Amsterdam Metropolitan Area Organiser: Amsterdam Airport Area

HTL EVE HTL LOUNGE

HTL Cocktail reception

TURKISH PAVILION

A new wave in Istanbul: the Kartal urban regeneration PPP project

15.30-16.00 Industrial wasteland turned into a logistical hot spot – the Dortmund Westfalenhuette case Organiser: Garbe

14.45 - 15.30 CIT

17.00

MIPIM INNOVATION FORUM

TURKISH PAVILION

AUDITORIUM A

Housing investment market in Turkey: promising opportunities?

Co-organiser: KONUTDER

Why is the United States so attractive to global investors?

Co-organiser: Real Capital Analytics

17.00 - 18.00 INNO

17.30 - 18.30 GEO

MIPIM INNOVATION FORUM

GAUDI

How sustainable is the Dutch property market Co-organiser: GRESB Association

Should measuring sustainability be a job for the accountants?

Co-organiser: BPF

Meet the end-users cocktail

Conferences sponsors Gold & Mayors Think Tank sponsor

Logistics Premium sponsors

RE-Invest Platinum sponsor

RE-Invest industry partner

RE- Invest Research partner

Silver sponsors

MIPIM Innovation Forum Premium sponsor

CLIENT CONFERENCES & EVENTS WEDNESDAY 13 MARCH 8.00 - 9.30 |

CARLTON HOTEL, SALON LA COTE

The BPF, GVA and Reed Midem Property Networking Breakfast Organiser : BPF- GVA -Reed Midem By invitation only

8.15 - 9.45 |

MAJESTIC HOTEL

10.30 - 11.30 |

STAND R31-23

11.00 - 11.45 |

AGORA ROOM, LEVEL 01 - AISLE 01-03

Marseille Métropole, une offre globale pour les investisseurs, les promoteurs et les entreprises

Getting it right - Technology use in business

Organiser: Marseille Métropole

11.00 - 12.00 |

10.30 - 11.30 |

AUDITORIUM J, LEVEL 4

Organiser: Qube Global Software MOSCOW CITY GOVERNMENT HALL

Where next? Hot spots for corporate expansion and the drivers for investment

Présentation du schéma directeur Canal

Top real estate trends in Moscow & the Regions

Organiser: Région De Bruxelles-Capitale

Organiser: The Moscow Times

Organiser: FDI Intelligence By invitation only

10.30 - 11.30 |

11.00 – 12.00 |

8.30 - 10.00 |

CARLTON HOTEL

Leeds City Region: Opportunity Through Innovation Organiser: Leeds City Region

8.30 - 11.45 |

HOTEL MAJESTIC

th

STAND H4.28

Berlin brunch Organiser: Berlin Senate Department for Urban Development and the Environment

10.30 - 11.30 |

STAND R29.32

RICS real estate management standards launch

AUDITORIUM I, LEVEL 4

Stockholm real estate seminar: Stockholm – a stable market Organiser: Stockholm Business Region Development By invitation only

11.00 - 12.30 |

STAND 02.20 / 04.19

The Leningrad Region - Logistics gates of Russia

18 Russian breakfast

Organiser: RICS

Organiser: Impress Media By invitation only

10.30 - 12.00 |

9.00 - 10.30 |

Organiser: ANCE

11.30 - 12.00 |

10.30 |

International projects at a glance

STAND 21.14

The Finnish property breakfast Organiser: City of Helsinki By invitation only

9.00 - 11.00 |

STAND 05.20 / 07.19

IBM breakfast Organiser: IBM By invitation only

10.00 - 10.45 |

AGORA ROOM, LEVEL 01 - AISLE 01-03

Housing and working are changing fast, but new buildings don’t follow suit Organiser: Flanders Ghent Development Group

10.00 - 11.00 |

STAND H4.20

Partner-talk Organiser: Mutual Savings Bank Nuremberg

10.00 - 11.30 |

STAND 18.16

Airport business park Uruguay Organiser: Greenpol By invitation only

10.00 - 11.30 |

STAND H.22

Les écomobilités au cœur du projet urbain Organiser : Grenoble Alpes Métropole

10.00 - 12.00 |

AUDITORIUM K

STAND R27.09

Introduction from Mark Barrow, Strategic Director of development at Birmingham city Council

11.30 - 12.30 |

STAND 07.20

Drink belge

11.30 - 12.30 |

STAND 05.20 / 07.19

STAND 05.20 / 07.19

IBM project

Cocktail 3 regions

Organiser: IBM

Organiser: Wallonia By invitation only

11.00 - 11.30 |

AZUR.03

The Volgograd Region. Region to invest

11.30 - 12.30 |

Organiser: The Volgograd Region Government

Argentina: The choice to diversify your investments

11.00 - 12.00 |

STAND 13.18/15.17

Estonian property market overview

STAND 18.08

Organiser: Argentina Ministry of Tourism

Organiser: City of Tallinn

12.00 - 12.45 |

11.00 - 12.00 |

Presentation of Tushino 2018, a landmark urban development project in Moscow

STAND 21.14

City of Turku & City of Kotka reception Organiser: City of Turku & City of Kotka

11.00 - 12.00 |

AUDITORIUM E, LEVEL 3

Launch of the IPD barometer, in partnership with Crédit Foncier Immobilier 11.00 - 12.00 |

Organiser: Manchester at MIPIM Partnership

Organiser: City of Stuttgart

11.00 - 11.30 |

Organiser: IPD

Enterprise: the sights of Manchester Airports Group are firmly set on expansion

STAND H 4.18

Organiser: Région de Bruxelles-Capitale By invitation only

Organiser: Luxembourg for Finance STAND B1.00

Organiser: Leningrad Region

Organiser: Birmingham By invitation only

Equity raising - The Luxembourg platform 10.30 - 11.00 |

AUDITORIUM H

Le opportunità del piano città in Italia

STAND R27.05

City development & planning forum

STAND R31.93

Organiser: CJSC “Tushino 2018”

12.00 - 13.00 |

STAND 14.02

Bristol’s great retail & leisure offer Organiser: Bristol and Bath @ MIPIM

12.00 - 13.00 |

STAND 10.01 / 08.02

Online conference with building areas in Sochi and Ekaterinburg Organiser: Kortros

Organiser: Leeds City Region

12.00 - 14.30 |

11.00 - 12.00 |

Official reception of the Grand Duchy of Luxembourg

STAND 03.16 - 05.13

Présentation du projet Spyland Organiser : Noraparc et Calais Promotion

VERRIÈRE GRAND AUDITORIUM

Organiser: Chamber of Commerce of the Grand Duchy of Luxembourg By invitation only

Access to MIPIM 2013 conferences and events is free of charge for all registered delegates, within the limit of space available. Programme as of 8th March 2013.

All information contained in this programme may be subject to change.

12.30 - 14.30 |

AUDITORIUM CALIFORNIE VERRIÈRE

14.30 - 15.30 |

STAND R31.23

15.30 - 16.00 |

STAND H4.28

Roundtable - Russia: Discover and invest

Port de Marseille Fos : la logistique XXL

Organiser: Arendator.ru By invitation only

Organiser: Marseille Métropole

Housing projects in Berlin – facts and perspectives

12.30 - 14.45 |

15.00 |

The “Housing Contest” project High performance, low cost residential building

Organiser: Berlin Senate Department for Urban Development and The Environment

MAJESTIC HOTEL, LA BAULE ROOM

Event of Ministry of Regional development of the Russian Federation Organiser: Ministry of Regional Development of The Russian Federation – Co-organiser: Kortros By invitation only

13.00 - 13.45 |

AGORA ROOM, LEVEL 01 - AISLE 01-03

Structural reforms in Greek real estate market: perceived vs projected

ITALIAN PAVILION C1.01

15.00 - 15.15 |

STAND 05.20 / 07.19

GRE projects Organiser: GRE - LIEGE

15.00 - 15.30 |

STAND R27.05

Regional cities and the capital

Organiser: Re+d magazine

Organiser: Leeds City Region

13.00 - 14.00 |

15.00 - 15.45

STAND 05.20 / 07.19

AGORA ROOM, LEVEL 01 - AISLE 01-03

15.30 - 16.00 |

STAND B1.00

Link: the future of 3D content and its ability to support global collaborations.

With guest speaker Dan Lejerskar, cofounder and chair of Eon Reality Organiser: Manchester at MIPIM Partnership

15.30 - 16.30 |

STAND LR4.04

High speed train, infrastructures and urban transformation Organiser: Piemonte Agency for Investments, Export and Tourism

Organiser: Eurogare

Morocco’s opportunities: open for business

13.00 - 15.00 |

Organiser: Casanearshore/Technopolis, Saz, Almanar

Meet the Mayor Arturas Zuokas (Vilnius City)

15.00 - 16.00 |

Organiser: Vilnius City

Eurogare - Projects NUMBER 3 LA CROISETTE (DIRECTLY OPPOSITE THE PALAIS)

Coventry’s ambition to become a Low Carbon City by 2020 Organiser: Coventry City

13.30 - 16.30 |

AUDITORIUM K

Think green save money - the Swedish experience in sustainable urban development

AUDITORIUM E, LEVEL 3

STAND 13.19

French real estate environmental performance: presentation of IPD key indicators

15.30 - 16.30 |

Organiser: IPD

Organiser : Calais Promotion

15.00 - 16.00 |

STAND 02.36 / 04.33

Made Expo a quality future

Organiser: Business Sweden

Organiser: Made Expo

14.00 |

15.00 - 16.00 |

ITALIAN PAVILION C1.01

15.30 - 16.30 |

AUDITORIUM J

STAND 03.16 - 05.13

Calais demain, une dynamique urbaine et touristique 16.00 - 16.30 |

STAND 02.20 / 04.19

Creating a settlement as a convenient environment for a human in the Leningrad Region

New towers in Porta Nuova Garibaldi, Milan Le Albere: requalification of the ex-Michelin area, Trento

Cannes, Cité du Cinéma

Organiser: Leningrad Region

Organiser : Ville de Cannes

16.00 - 16.45 |

15.00 - 16.00 |

Organiser: Colombo Costruzioni Spa

Organiser: Bristol and Bath @ MIPIM

Innovative engineering solutions for Russian urban infrastructure development

14.00 - 14.30 |

STAND 02.20 / 04.19

Presentation engineering infrastructure required to locate an enterprise in the Leningrad Region

STAND 14.02

Bristol’s bid for European green capital 15.00 - 16.00 |

STAND 03.02 - 05.05

Prise de parole autour du Pôle Métropolitain

Organiser: Leningrad Region

Organiser : Communauté Urbaine de Strasbourg / M2A

14.00 - 14.30 |

15.00 - 16.30 |

STAND 05.20 / 07.19

Forum innovation – Maritime Station Organiser: Wallonia

14.00 - 15.00 |

STAND H4.20

RESTAURANT GASTRONOMIQUE - LEVEL 3

CDG Group Morocco Break Time With Moroccan Real Estate Leaders

City-talk

Organiser: CDG Group

Organiser: City of Nuremberg

15.00 - 16.30 |

14.00 - 15.00 |

Wood construction for well-designed smart and sustainable cities – Stora Enso Oyj, Wood Construction

STAND 13.18 / 15.17

Presentation of the development projects In Tallinn (in Russian)

STAND 21.14

Organiser: City of Tallinn

Organiser: Helsinki-Finland

14.00 - 15.00 |

15.00 - 16.30 |

STAND 21.01

STAND R29.32

AGORA ROOM, LEVEL 01 - AISLE 01-03

Organiser: Ecoprog ltd.

16.00 - 17.00 |

AUDITORIUM E, LEVEL 3

Launch of the IPD/BVI German quarterly spezialfonds index Organiser: IPD

16.00 - 17.00 |

STAND LR1.16

Kiev welcomes you: City’s main projects Organiser: Kan Development

16.00 - 17.00 |

STAND 10.01 / 08.02

Developer’s community + cocktail Kortros Organiser: Kortros

16.00 - 17.00 |

STAND 07.02 / 09.01

Oz Montpellier nature urbaine: the new-generation business centre OZ Montpellier nature urbaine, le pôle d’affaires nouvelle génération

Ukraine networking event

UK and Ireland reception

Organiser: Eastgate Development By invitation only

Organiser: RICS

15.00 - 17.00 |

14.00 - 15.00 |

The annual boules fight at MIPIM

16.00 - 17.00 |

Organiser: Kingston Smith Llp By invitation only

The future of city funding

STAND 13.27

Cocktail Party: Do you know what is the Capital of Northern Scandinavia?

Organiser: Oulu - Capital of Northern Scandinavia

ALLÉE DE LA LIBERTÉ, CANNES

Organiser: Montpellier Agglomération By invitation only HOBAN ROOM, LEVEL 3

Organiser: Birmingham

CLIENT CONFERENCES & EVENTS WEDNESDAY 13 MARCH 16.00 - 17.00 |

STAND LR4.02

16.30 - 18.00 |

LERINS LR.1-2

17.00 - 18.30 |

AUDITORIUM K, LEVEL 4

Cocktail

Amazing fashion show

Organiser: City of Warsaw By invitation only

Organiser: Lille Région Coeur d’Europe

16.00 - 18.00 |

Announcement and taster: changing perception of Bath

17.00 - 19.00 |

City of Riga reception Organiser: City of Riga

Organiser: Bristol and Bath @ MIPIM

Organizer: Zorlu Center

16.00 - 19.00 |

17.00 - 17.30 |

17.15 - 18.15 |

STAND 15.18 / 17.13

STAND 04.20 / 06.19

Mebe One Khimki Plaza launch Organiser: Mebe Development By invitation only

16.00 - 19.00 |

GRAY D’ALBION HOTEL

17.00 - 17.15 |

STAND 14.02

STAND H4.28

16.30 - 17.15 |

Organiser: Argentina Ministerio de Turismo

AGORA ROOM, LEVEL 01 - AISLE 01-03

North Crown Oy reception

17.00 - 18.00 |

Organiser: North Crown Oy

Business Birmingham reception in association with FDI Magazine

Organiser: City of Brno

AUDITORIUM E, LEVEL 3

Organiser : IPD

Argentina: the choice to diversify your investment

STAND 08.24 / 10.23

Dj party

Organiser: Berlin Senate Department for Urban Development and The Environment

Organiser: BEP - IBW - Idelux By invitation only

City of Brno reception followed by cocktail party and tasting Genuine Moravian Wines

STAND R33.05

Lisbon as a bridge for new Portuguese investment opportunities

17.00 - 17.45 |

16.30 - 18.00 |

Organiser: Club Construction Durable

Berlin – The place to be for investments major real estate projects

BEP – IBW – IDELUX event

STAND 21.14

The office of the future: both sustainable and appealing?

STAND R27.09

Organiser: Birmingham By invitation only

17.00 - 18.00 |

STAND LR.2.01

Cocktail of GdaĽsk

17.30 - 18.00 |

STAND H 4.18

Energy efficiency – the role of the city in Europe’s energy policy Organiser: City of Stuttgart

17.30 - 21.00 |

STAND R33.07

Frankfurt Rheinmain cocktail lounge Organiser: Frankfurt Rheinmain

19.00 - 21.30 |

PLAGE ROYALE

Eurometropole cocktail Organiser: Eurometropole By invitation only

Organiser: City of GdaĽsk

ces & events en er nf co of e m m ra og pr n lio vi Pa London Produced by NLA - London’s Centre for the Built Environment Sponsored by GVA

LONDON: THE WINNING CITY 10.00 |

EAST LONDON STAND

12.00 |

NLA STAGE

17.00 |

NLA STAGE

East London - the olympic opportunity Followed by Q&A with investors

Delivering London’s infrastructure

10.30 |

London’s unrivalled investment offer

17.30 |

15.30 |

Earl’s court

NLA STAGE

Estates Gazette panel debate London: gateway to Europe 11.00 |

NLA STAGE

London - tech capital of Europe 11.30 |

EALING & HOUNSLOW STAND

Hounslow

15.00 |

NLA STAGE

EALING & HOUNSLOW STAND

Land: maximising the efficiency of land use in a growing city CAPCO STAND

Ealing

18.00 |

16.00 |

Riba Pecha Kucha

NLA STAGE

Housing: delivering the homes that London needs 16.30 |

CROYDON STAND

Croydon delivering change

18.30 |

NLA STAGE

NLA STAGE

Drinks reception following the Pecha Kucha hosted by YAYA & Phil Coffey Architects

Access to MIPIM 2013 conferences and events is free of charge for all registered delegates, within the limit of space available. Programme as of 8th March 2013.

All information contained in this programme may be subject to change.

ces & events en er nf co of e m m ra og pr on gi Re ris Grand Pa Marina Hall - Stand MAR.PR29 9.30 - 10.30 |

MARINA HALL - ESPACE RESTAURANT MAR.PR21

12.00 - 12.30 |

MARINA HALL - MAR.PR25

16.15 - 16.45 |

MARINA HALL - AGORA - MAR.PR29

Porte sud du Grand Paris : un pôle de vie inter-campus dans le rectangle d’or

West Plaza (31 000 m²) : une démarche environnementale exceptionnelle face à la Défense

Presentation of the AéroliansPARIS operation, a business centre close to Roissy-Charles de Gaulle Airport

Organiser: Grand Paris Region - SEM Genopole

Organiser: Grand Paris Region - Hauts-de-Seine

Organiser: Grand Paris Region - AFTRP

10.00 - 10.30 |

12.00 - 13.00 |

16.15 - 16.45 |

MARINA HALL - AGORA - MAR.PR29

La Defense Seine Arche: from the Seine to the Seine, a sustainable ambition

MARINA HALL - AGORA - MAR.PR29

MARINA HALL - MAR.PR15

Le Bourget, home of aviation, has become a world-renowned aeronautical cluster

Rendez-vous Semavip

Organiser: Grand Paris Region - Epadesa

Organiser: Grand Paris Region - Plaine de France

10.30 - 11.00 |

12.00 - 13.00 |

16.45 - 17.30 |

MARINA HALL - MAR.PR29

Presentation of the La Défense Seine Arche territory, its projects and challenges, using the scale model Organiser: Grand Paris Region - Epadesa

10.30 - 11.00 |

MARINA HALL - ESPACE RESTAURANT MAR.PR21

La Seine et Marne et le téléCentre, un nouveau mode de travail

MARINA HALL - MAR.PR01

EDF research & development Centre.

Why choose Paris-Saclay?

Organiser: Grand Paris Region - Silic Socomie

Organiser: Grand Paris Region - Paris Saclay

14.30 - 15.15 |

17.00 - 17.45 |

MARINA HALL - AGORA - MAR.PR29

Les Hauts-de-Seine : un territoire de référence pour les investisseurs étrangers

Organiser: Grand Paris Region - Epadesa

17.00 - 18.00 |

11.00 - 11.30 |

Ecoquartier les docks, l’entrée en Seine de Saint-Ouen

Organiser: Grand Paris Region - Evry Centre Essonne

11.00 - 11.30 |

MARINA HALL - AGORA - MAR.PR29

Marne-la-Vallee – two major eco-districts: 7,000 housing units to meet the housing needs in the Paris Region

MARINA HALL - MAR.PR25

Epadesa and Defacto: complementary actions for La Defense’s worldwide reputation 15.00 - 16.00 |

Inauguration du stand de la communauté d’agglomération Evry Centre Essonne

MARINA HALL - AGORA - MAR.PR29

Silic, the campus spirit for Grand Paris

Organiser: Grand Paris Region - Seine et Marne MARINA HALL - MAR.PR08

Organiser: Paris - Semavip

MARINA HALL - MAR.PR3

Organiser: Grand Paris Region - Hauts-de-Seine MARINA HALL - MAR.PR08

Organiser: Grand Paris Region - Plaine Commune

Présentation du projet architectural du Grand Stade de la Fédération française de rugby sur le site de l’ancien hippodrome de Ris-Orangis

15.15 - 15.45 |

Organiser: Grand Paris Region - Evry Centre Essonne

MARINA HALL - AGORA - MAR.PR29

Marne-la-Vallée – Cité Descartes: the new “sustainable development” business district of the future

17.00 |

MAR.PR15

Organiser: Grand Paris Region - Marne-la-Vallée

Rendez-vous Paris Batignolles Visite virtuelle de l’opération Clichy Batignolles

15.30 - 16.00 |

17.30 - 18.15 |

MARINA HALL - MAR.PR15

MARINA HALL - AGORA - MAR.PR29

Rendez-vous Paris Batignolles: Clichy Batignolles west district

Grand Paris Express stations: integrating them into their neighbourhoods

Un campus de 87 000 m² à fort potentiel à Asnières-sur-Seine

Organiser: Paris Batignolles

Organiser: Grand Paris Region - Société du Grand Paris

Organiser: Grand Paris Region - Hauts-de-Seine

Ile Seguin, the Grand Paris Region cultural eco-city

Organiser: Grand Paris Region - Marne-la-Vallée

11.15 - 11.45 |

11.30 - 12.00 |

MARINA HALL - MAR.PR25

MARINA HALL - AGORA - MAR.PR29

Sénart in Grand Paris and its projects Organiser: Grand Paris Region - Sénart

11.30 - 12.30 |

MARINA HALL - MAR.PR15

The dynamics of large-scale urban projects in Paris Organiser: Paris

15.30 - 16.30 |

MARINA HALL - MAR.PR23

17.30 - 18.30 |

HOBAN ROOM, LEVEL 3

Organiser: Grand Paris Region - Ile Seguin Rives de Seine - Boulogne Billancourt

Les infrastructures, moteur du développement économique Mipim Conference Session

15.45 - 16.15 |

18.00 - 19.00 |

MARINA HALL - AGORA - MAR.PR29

Le Grand Roissy, an airport city at the heart of international exchanges Organiser: Grand Paris Region - Plaine de France

HÔTEL JW MARRIOTT, TERRASSE RENOIR

Presentation des projets de sadev 94 Organiser: Grand Paris Region - Sadev 94

mipim

neWs GREECE IS SET TO STABILISE IN 2013 THE GREEK austerity and economic restructuring programme, now into its third year, could bear fruit during 2013 as the country begins to stabilise, according to a report from Canadian-owned property consultancy Colliers International. With the threat of Greece’s exit from the Eurozone having receded following progress in negotiations between the Eurozone, IMF and Greece, the economic climate looks set to improve, offering potential investment opportunities.

Ana Vukovic, managing director of Colliers International in Greece, said: “Following three years of austerity and economic descent, we expect 2013 to be a year where the first signs of stabilisation and market mobilisation will be evident.” She cautioned that deal volumes would probably remain low this year and would be dependent on the new tax framework concerning property ownership and income, but added that activity from global investors would be more evident.

The report notes that investment priorities are likely to focus on road and rail networks, ports, marinas and tourism, with increased yields and a general lowering of rental values helping to raise investment opportunities.

Shopping centres and retail parks are seen as areas of key interest in the country and the preferred format for foreign and local retailers.

Office rents are expected to stabilise too — principally owing to the limited development pipeline of prime office premises, although rental rates in secondary locations are expected to drop a further 15%-20%. The latest Greek bailout package reduces sovereign debt and the recapitalisation of domestic banks is estimated to improve the country’s competitiveness.

CBRE calls in the experts for expansion into Russian retail LOBAL real estate advisor, CBR E , has expanded its services in Russia with the launch of a new retail team.

It has hired a team of senior professionals from RTK Group, a specialist provider of retail real estate advisory services. The team includes the firm’s founder and managing director, Mikhail Rogozhin (pictured far right) plus three associate directors.

The group brings to CBRE particular expertise in the leasing and sale of retail premises in shopping centres and mixed-use complexes.

They recently advised on the opening of four retail projects in the Russian regions totalling over 350,000 sq m, including the Premier Shopping Centre in Ryazan (94,000 sq m) and Surgut City Mall in Surgut (150,000 sq m).

The Russian move follows CBRE’s launch of the Shopping Centre Practice (SCP), a multidisciplined, pan-European group of senior professionals connecting all aspects of the retail business.

CBRE has integrated specialities in leasing, property and asset management, valuation, invest-

G

ment, real estate finance, retail consultancy, building consultancy and research. The SCP will focus on six key areas CBRE has identified as essential for shopping centres to thrive: consumer trends; differentiation through innovation; digital media/technology; maximising income performance; brand identity; and intelligent investment.

Peter Gold, head of EMEA Retail, CBRE, said: “We believe that for shopping centres to succeed in the future there are six key battlegrounds that will determine the winners and losers. To face these complex challenges head-on requires both strategic rigour and operational excellence. The correct mix of skills and expertise is also a must.”

Sustainable design for Howick Place

Howick Place: a raft of sustainable technologies

42

The CBRE retail team for Russia

THE £40m (€46m) Howick Place in Victoria, London, has been completed implementing a highly sustainable M&E contract from consulting engineer Crofton. The mixed-use scheme comprises over 13,300 sq m of grade-A office space, 23 luxury residential apartments, 10 affordable homes and 190 sq m of retail space.

Crofton worked with strategic outsourcing firm MITIE to ensure the new building was developed to maximise carbon reduction by incorporating a raft of sustainable technologies. These included communal residential heating/hot water, passive solar

shading and combined cooling heat and power (CHP) with trigeneration, which allows heating, power and cooling to be provided from the same source, and a roof mounted solar photovoltaic array.

Marcos DeCastro, director at Crofton, said: “This sustainable development exceeds standards set in the Building Regulations, achieving a substantial reduction in carbon emissions for both the offices and residential accommodation.”

Howick Place is a flagship development undertaken by Terrace Hill and Doughty Hanson, and Kier Construction (London) was the main contractor.

SPECIALIST CONSULTANCY FOR THE PROPERTY SECTOR Strategic Communications Corporate Finance / Restructuring Economic & Financial Consulting Construction Solutions Global Risk & Investigations

www.fticonsulting.com

CRITICAL THINKING AT THE CRITICAL TIME™ FTI Consulting is the official communications partner to MIPIM

mipim

neWs

Barcelona opens door to Mediterranean corridor

The Barcelona skyline featuring the 38-storey Torre Agbar

B

ARCELONA is at the hub of a technology- and mobility-based economy as increasing numbers of international companies move into Catalonia.

For the first time at MIPIM, Barcelona Catalonia is presenting the logistics spaces it has to offer along the ‘Mediterranean corridor’. Catalonia is Spain’s top export location, making the logistics sector key to the Catalan economy.

The Barcelona Catalonia projects are mainly concentrated in the Barcelona metropolitan area, which comprises nearly 6 million sq m of surface area. Nineteen properties have been added to the Barcelona Catalonia offer, consisting of assets held by the regional government, as well as various logistics projects.

Among the schemes being featured at MIPIM is the 340 ha Parc de l’Alba, one of the most advanced science, technology and business platforms in Europe. It offers more than 1.3 million sq m of land for economic activities and, when complete, will provide 3,500 homes.

44

Another key project is La Sagrera, a 164 ha sustainable urban development that will include a shopping centre with 401,129 sq m of floor space.

Elsewhere, Marina del Prat Vermell, a former industrial area, is undergoing a transformation. The new Barcelona fairground and the D38 business district make this one of the city’s most dynamic areas, with space for nearly 11,000 homes and 315,420 sq m earmarked for economic activities.

Can Sant Joan is located in Sant Cugat del Valles, on the E15 motorway that connects with the rest of Europe. The park, which occupies 49.3 ha and offers 150,000 sq m of floor space for economic activities, is located near to universities, top-notch business schools, shopping centres, sports facilities, hospitals and hotels.

Business Park Mas Blau, next to the El Prat de Llobregat international airport and just 10 minutes from the city of Barcelona, has 21.5 ha focusing on business development, expansion and economic growth.

NEW! MIPIM INNOVATION FORUM

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mipim

neWs Returns on up-market LA real estate sprinkled with stardust

I

T’S got style, glamour — and some of the best value property of any major city in the world.

Los Angeles property suffered a decline during the financial crisis, but it is on its way back.

There is now the potential for a high return on investment and strong appreciation in value, according to exclusive homes specialists InvestinLosAngeles.

Executive director Victor Kaminoff said: “The high-end market is being driven by interest from Europe and other locations, including China and Saudi Arabia. We have seen interest from Egypt, Lebanon and Qatar.”

Kaminoff specialises in the highend property that can be found in Hollywood, Bel Air, Beverly Hills and Malibu.

The case for LA is underlined, he added, by the Hurun report published by the Shanghai Magazine, which claimed there are one million millionaires in mainland China and half of those say they want to invest more in US real estate.

Property in LA can be purchased for around half the price of a similar home in London. This makes it an ideal location for both investment and living. Rental returns from those working in the film industry can be particularly lucrative.

Owners include Petra Ecclestone, the 24-year-old daughter of F1 billionaire Bernie Ecclestone, who paid $85m (€65.3m) for The Manor in Holmby Hills in 2011. The 5,300 sq m mansion had been for sale for two years at

KNIGHT FRANK OPENS IN BERLIN

$150m, making it at that time the most expensive property on the market in the US. In 2012, 700 homes sold for more than $5m in California. And overseas buyers spent 24% more on real estate investments than they had in 2011.

Petra Ecclestone paid $85m for The Manor in Holmby Hills in 2011

KNIGHT Frank has ramped up its presence in Germany with an office in Berlin.

The opening follows the acquisition of domestic agency Hettrich Sauer & Cie, an established property consultancy based in the German capital. The agency, which specialises in investment, valuation and tenant representation, has a client roster spanning funds, banks and private individuals.

The Berlin office is the third in Germany for Knight Frank, which already has branches in Frankfurt and Munich. It has said that it is also on the look out for opportunities to expand into Hamburg.

BE MORE THAN A TOURIST. INVEST IN LOS ANGELES.

We are at MIPIM!

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GreatArchitectureLA.com

47

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Immobilien Manager Verlag IMV GmbH & Co. KG P.O. Box 41 09 49 · 50869 Cologne · Phone +49 (0)221-5497-169 Fax +49 (0)221-5497-130 · service@immobilienmanager.de www.immobilienmanager.de/mediakit.html

Ein Unternehmen der Gruppe Rudolf Müller

mipim

neWs Post-recession masterplan will attract investment to Lisbon

L

ISBON can offer unparalleled opportunities to investors and businesses over the next few years as the city powers out of recession.

A new masterplan agreed last year means the city now has a clear way ahead that can offer certainty

and security to developers.

Lisbon is already benefiting from its close historical connections with Brazil as both businesses and individuals use it as a stepping stone into Europe.

Now Lisbon has a stand at MIPIM for the first time since 2010. And delegates can learn more of its

Lisbon’s Oceanarium has a million visitors annually

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CLOSER, HIGHER!

potential at the Iberian Peninsula conference tomorrow at 14.30.

Rui Coelho, executive director of InvestLisboa, said: “The new masterplan gives us the ability to attract people. There are new business opportunities as well as a focus on the quality of public space and interaction with the river.”

Lisbon was named European City of the Year in 2012 by the UK Academy of Urbanism.

The city’s innovative approach will see developers who refurbish or redevelop older buildings given permission to build new property elsewhere in the city.

The city also offers one of the best broadband services in Europe and excellent sea and airport connections to key business destinations.

It is also able to offer investors a

présente

les écomobilités au cœur du projet urbain

foothold in emerging economies such as Angola and Mozambique through its 500-year-old cultural links. Office space remains cheap and there are plenty of opportunities for start-ups.

Companies on the Lisbon stand include Grupo Obriverca, which has a 500-metre riverfront project, and international lawyer PLMJ. Also present is EDP, Portugal’s biggest power company, which is building a new headquarters in Lisbon and wants to sell its old building.

Development & Investment Opportunities A tropical knowledge community at James Cook University, Great Barrier Reef, Australia.

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mipim

neWs City’s Ropemaker Place sold to AXA Real Estate in £472m deal

A

XA REAL Estate Investment Managers has bought Ropemaker Place in the City of London for £472m (€539m) on behalf of one European and two Asian investors.

Purchased from British Land, the property is structured as a UK REIT and is let to investmentgrade tenants including Bank of Tokyo Mitsubishi and Macquarie Bank for an average of 14 years.

It produces an income of €27.5m (€505 per sq m), with minimum contractual increases by September 2015 to €31.4m a year (€583 per sq m).

Located close to the new Crossrail entrance at Moorgate train and underground station, Ropemaker Place was completed in May 2009. The 20-storey 56,000 sq m building has 53,000 sq m of grade A offices with supplementary retail and ancillary accommodation.

The sale represents a net initial yield of 5% on the basis of an acquisition of the units in Ropemaker Place Unit Trust. British Land will top up the rent-free periods to the contractual rent.

It will receive net proceeds of £461m in cash from the sale after costs — 1.4% above the September 2012 book value.

The acquisition of Ropemaker Place is in line with AXA Real

Ropemaker Place in London has been sold to AXA Real Estate for a Europe/Asian consortium

Estate’s strategy of urging clients to invest together in assets that have good real estate fundamentals and excellent sustainability criteria. Ropemaker Place has a BREEAM Excellent sustainability rating and is the first building in the City to achieve a LEED Platinum pre-certification for sustainability.

AXA Real Estate led an investoradvisory team that also included

Nabarro, Deloitte and Strutt & Parker. British Land was advised

by SJ Berwin and Jones Lang LaSalle.

The acquisition follows AXA Real Estate’s forward commitment in September 2012 to purchase 37,000 sq m in King’s Cross for €343m from developer BNP Paribas Real Estate, in a joint venture with a large thirdparty international partner.

CBRE SEES UPTICK FOR INVESTORS A SURVEY of European investors by real estate advisor CBRE predicts increased activity for 2013, with a growing willingness to consider higher risk opportunities outside the traditional prime/core markets. A majority — 58% — said they expected their purchases in 2013 to be higher than in 2012. This compares with a figure of 45% in 2011. Within this, 30% of investors expect to be spending over 20% more on investment purchases in 2013 compared with 2012.

Of those questioned 71% expected to be net investors. Again, this is a stronger picture than last year, when 61% indicated that they would be net investors. While a majority of investors still view prime/ core properties as the most attractive, there were larger increases in the proportion of investors indicating a preference for ‘good secondary’ and ‘opportunistic/value-add’ assets, in both cases rising to over 40%. The results indicate that there is now significantly greater interest in opportunities further up the risk spectrum.

New waterfront for Abu Dhabi A NEW downtown zone will be created in Sowwah Square in Abu Dhabi, in accordance with the emirate’s 2030 Urban Structure Framework Plan.

Designed by Goettsch Partners, Sowwah Square is a mixed-use development by Mubadala Real Estate & Infrastructure located on Al Maryah Island (formerly Sowwah Island). The 293,400 sq m waterfront project features the new Abu Dhabi Securities Exchange headquarters building

surrounded by four office towers.

At plaza level, indoor and outdoor spaces blend to create a landscaped, pedestrian-friendly environment. The scheme includes a two-level, 36,000 sq m high-end shopping mall and 5,000 parking spaces. A sustainable design approach throughout the project has resulted in LEED-CS Gold precertification. The designers also looked beyond LEED to integrate both active and passive sustainable design strategies.

Sowwah Square: Abu Dhabi’s new waterfront project

51

The worldâ&#x20AC;&#x2122;s proper ty summit in Asia Pacific

5-6 November 2013 Grand Hyatt Hotel, Hong Kong

Top-level conference debates

Business focused networking events

The 7th MIPIM Asia Awards

Save

the date!

mipim

neWs Tempelhof airport project is now approaching take-off Berlin Tempelhof is bigger than New York’s Central Park

A

T 220 ha, in the heart of the city and covering an area greater than New York’s Central Park, Berlin’s Tempelhof airport is set to be transformed by recently formed company Tempelhofer Freiheit.

Currently, part of the site’s aircraft hanger space is used for exhibitions such as denim and casual wear show Bread & Butter, but plans have just been announced to develop a series of mixed-use schemes around much of the rest of the vast green park’s perimeter.

The first sign of change will be apparent this year as work starts on an IT centre that Tempelhofer Freiheit hopes will capitalise on Berlin’s reputation as a centre for online creativity. The real action begins in 2015 however when, after a ground-breaking ceremony, work is scheduled to start on a €270m “education quarter”, according to Tempelhofer Freiheit CEO Gerhard Steindorf. At the heart of this new quarter will be the Zentralandes Bibliotek, an amalgamation of Berlin’s three major libraries, becoming the

largest in Europe when finished.

If all goes to plan, the library will be the precursor to largescale residential developments to the west, south and east of the former airport. The runways and green space around all of this will remain intact and will be turned into an urban park. The long timescale involved — completion is expected at the end of the decade — is due, in part, to the publicly funded nature of the project, with monies emanating principally from Berlin’s city coffers.

MARAT Khusnullin, deputy mayor of Moscow, attended the opening ceremony to launch a packed schedule of events at the Moscow City stand. The ceremony, New Moscow – New Opportunities, was the first of a host of events throughout MIPIM aimed at showcasing Moscow to the international community and highlight a range of exciting development projects under way in and around the Russian capital.

SAVILLS REPORTS BRIGHTER FUTURE FOR IRELAND GOOD news for Ireland in its long haul back to economic recovery comes in a new report about the Irish investment market.

In its latest Irish Investment Market Report real estate advisor Savills says there is already €240m of commercial property at contract stage or with sales agreed this year, which compares to just €50m during the same period in 2012.

With a further €200m of stock available and demand expected to gather pace throughout the year, Savills predicts total investment turnover for 2013 could reach, and even exceed, €1bn, which compares to just over half that level — €576m — in 2012.

In terms of where demand is coming from, Savills said that while private equity investors dominated the Irish commercial property investment market in 2012, this year will see a shift in the balance as more institutional and core buyers re-emerge for prime assets.

The firm also predicts continued interest from US and private Irish investors as well as a return to the market for the Irish institutions that have not been active on the acquisition front for a number of years.

Domhnaill O’Sullivan, director of international investment at Savills Dublin, said: “The prices achieved on investment properties sold in 2012, combined with the calibre of purchasers and known under-bidders, is enticing fresh capital into the market, which will act as a catalyst to create further competitive tension in the Irish investment market and with it capital appreciation.”

53

DOSSIERS IMMO BELGIUM /¡HVVHQWLHOOH ,002 OH PDJD]LQH LPPRELOLHU GH SUHVWLJH HQFDUWp WRXV OHV PRLV GDQV ´/D /LEUH %HOJLTXHÂľ OH TXRWLGLHQ EHOJH QDWLRQDO PORTRAIT BURO II & ARCHI + I ZOOM BATIBOUW 2013 TABLE RONDE CONSTRUIRE, RĂ&#x2030;NOVER, AMĂ&#x2030;LIORER IMMOBILIER PRĂ&#x2C6;S DE 300 BIENS Ă&#x20AC; VENDRE ET Ă&#x20AC; LOUER

Lâ&#x20AC;&#x2122;ouragan Sandy fait trembler les Etats-Unis

LE MAGAZINE IMMOBILIER DE LA LIBRE â&#x20AC;&#x201C; FĂ&#x2030;VRIER 2013 â&#x20AC;&#x201C; N°104

p. 3

MIPIM

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2012

Dossier Salon MIPIM

Alain Robbe-Grillet, vu par sa femme, Catherine.

Et publication de leur correspondance.

Pages 2-3

Samedi 9 mars

SupplĂŠment Ă La Libre Belgique du lundi 29 octobre 2012

CHRISTOPHE LEHENAFF/PHOTONONSTOP/REPORTERS

Sexe et religion : une orageuse liaison

l RĂŠcit

Une nuit sans fin ě&#x201D;° Pour

renouer avec celui quâ&#x20AC;&#x2122;Alzheimer a rendu autre, Arno Geiger retrace la souffrance et le dĂŠsarroi de son père et de ses proches.

ě&#x201D;° Un

rĂŠcit remarquable et nĂŠcessaire, bouleversant et poĂŠtique.

J

acques Derrida devait avoir raison de le dire : On ne cesse dâ&#x20AC;&#x2122;implorer pardon quand on ĂŠcrit.â&#x20AC;? La luciditĂŠ de ces quelques mots rejaillit sur tout le rĂŠcit, Ă la fois douloureux, intense et bouleversant, quâ&#x20AC;&#x2122;Arno Geiger (Bregenz, 1968) consacre Ă son père. Pris au piège de la maladie dâ&#x20AC;&#x2122;Alzheimer, ce dernier a perdu de sa superbe pour se muer en un â&#x20AC;&#x153;vieux roi en son exilâ&#x20AC;?. Dès lâ&#x20AC;&#x2122;instant oĂš August nâ&#x20AC;&#x2122;a plus eu accès Ă lâ&#x20AC;&#x2122;univers dâ&#x20AC;&#x2122;Arno, le fils a dĂŠcidĂŠ de jeter un pont vers son père. En rĂŠsulte ce joyau sobre et poignant.

Les premiers signes dâ&#x20AC;&#x2122;un manque dâ&#x20AC;&#x2122;entrain nâ&#x20AC;&#x2122;ont alertĂŠ personne. August ne venait-il pas de voir sa femme le quitter après trente ans de mariage ? Ne vieillissait-il pas, tout simplement ? Jusquâ&#x20AC;&#x2122;au jour oĂš un diagnostic fut posĂŠ. DĂŠbuta alors â&#x20AC;&#x153;le temps des pertes irrĂŠversiblesâ&#x20AC;?. Les bizarreries comportementales avaient dĂŠsormais une explication. Qui nâ&#x20AC;&#x2122;offrait aucun rĂŠconfort Ă son entourage. â&#x20AC;&#x153;Je mâ&#x20AC;&#x2122;effrayais chaque fois de voir combien il paraissait vulnĂŠrable, abandonnĂŠ. Il avait changĂŠ, lâ&#x20AC;&#x2122;expression dâ&#x20AC;&#x2122;accablement qui se lisait sur son visage ne disait plus le dĂŠsespoir de perdre la mĂŠmoire, mais lâ&#x20AC;&#x2122;apatriditĂŠ profonde dâ&#x20AC;&#x2122;un homme pour qui le monde entier ĂŠtait dĂŠsormais une terre ĂŠtrangère.â&#x20AC;?

Une ĂŠpreuve insurmontable pour lui qui avait survĂŠcu de justesse Ă la Seconde Guerre mondiale et ĂŠtait rentrĂŠ chez lui, Ă dix-neuf ans, en formulant le serment de ne jamais plus quitter sa maison.

La maladie transforme les proches dâ&#x20AC;&#x2122;August. BientĂ´t, ceux-ci doivent se rĂŠsoudre Ă faire appel Ă des aides-soignantes. Elles nâ&#x20AC;&#x2122;ont pas toutes la patience nĂŠcessaire, sâ&#x20AC;&#x2122;effraient de ses excès. Certaines situations sont cocasses, mais la peur et le dĂŠsespoir ba-

laient ce sentiment. Il y a aussi ces instants arrachĂŠs Ă la maladie, le rĂŠpit de quelques heures heureuses.

MĂŞlĂŠ Ă un sentiment dâ&#x20AC;&#x2122;urgence, de bonheur parfois, mais aussi de faillite. â&#x20AC;&#x153;[â&#x20AC;Ś] jâ&#x20AC;&#x2122;en savais très peu sur mon père, sur ses origines, ses dĂŠfaites, ses peurs et ses dĂŠsirs.â&#x20AC;?

Tressant de sa plume racĂŠe et poĂŠtique un lien nouveau avec son père, Arno Geiger â&#x20AC;&#x201C; dont un premier roman, â&#x20AC;&#x153;Tout va bienâ&#x20AC;? (2008), avait ĂŠtĂŠ couronnĂŠ par le prestigieux Deutscher Buchpreis â&#x20AC;&#x201C; montre que la maladie est un rĂŠvĂŠlateur sans fard. â&#x20AC;&#x153;Les spĂŠcificitĂŠs humaines et les situations sociales sâ&#x20AC;&#x2122;y reflètent comme dans un verre grossissant.â&#x20AC;? Ce rĂŠcit digne et marquant, quâ&#x20AC;&#x2122;il a voulu terminer avant quâ&#x20AC;&#x2122;August ne meure, estimant que son â&#x20AC;&#x153;père, comme tout homme, mĂŠrite que son destin reste ouvertâ&#x20AC;?, tĂŠmoigne dâ&#x20AC;&#x2122;un amour rare. â&#x20AC;&#x153;Presque aucun homme nâ&#x20AC;&#x2122;arrive Ă ĂŞtre Ă la hauteur de lâ&#x20AC;&#x2122;image que les enfants se font dâ&#x20AC;&#x2122;un père.â&#x20AC;?

Geneviève Simon Le vieux roi en son exil Arno Geiger / traduit de lâ&#x20AC;&#x2122;allemand par Olivier Le Lay / Gallimard / 180 pp., env.

17,50 â&#x201A;Ź

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neWs Carlos Bay unveiled to mark Mauritius Independence Day

D

ELEGATES celebrated Mauritius Independence Day yesterday at MIPIM with the launch of Carlos Bay, one of the country’s most striking residential developments.

The luxury complex has been established under Mauritius’ Real Estate Scheme (RES) and is thus open to international freehold purchase. The RES, which governs the framework for foreign investment, is desi-

Mauritian delegates celebrate independence day

gned to promote business development in the Indian Ocean island paradise.

Located on the hillside of La Tourelle on the west coast of Mauritius, Carlos Bay overlooks the village of Tamarin. It enjoys a panoramic view over Tamarin Bay, and the Rempart and Trois Mamelles mountains.

The development offers 18 residential units consisting of apartments, duplex apartments and penthouses. The units are arranged into five blocks spread across the property, allowing for unimpeded access to the magnificent view of the mountains and sea.

Sheltered from the prevailing winds, the west coast of Mauritius is considered to be the sunniest side of the island all year round.

PITCH PERFECT AT INNOVATION FORUM THIS year for the first time, MIPIM Awards finalists will have the opportunity to pitch their schemes directly to delegates visiting the MIPIM Innovation Forum in the Gare Maritime.

Using the Japanese PechaKucha presentation technique, each pitch will consist of 20 images shown on screen for 20 seconds each, keeping delivery concise, dynamic and fast-paced.

Presentations will be made during the Innovators’ Vision: MIPIM Awards Screenings held on Tuesday, Wednesday and Thursday in the Atrium area of the Forum.

Votes can also be cast in the traditional way at the Awards Gallery in the Palais des Festivals. The winners will be announced at the MIPIM Awards ceremony tomorrow.

Mondo Italia Gallery is the project designed for large spaces for a megastore of the Italian excellence: Fashion, Food, Home, Sport, Kids and Wellness.

You will be able to take a trip through an original and spectacular scenery; a tour through the main monuments and Italian piazzas that will be the setting for apparel stores for men, women, children, sports accessories and home, plus a food court area where you can try the typical Italian tastes thanks to the presence of restaurants, pizzerias, pubs, cafes. The course is completed by an area for relaxation and wellness.

MIG solves the problem of big unused spaces MIG renews and innovates the image of shopping malls MIG will be the new play area for the whole family Franchising information www.mondoitaliagallery.com - mondo@mondoitaliagallery.com Tel. +39.030.6863577/6863189 - Fax +39.030.6624889

55

23; , 6) % *6 7, 4 674 '8-:) 32 )9634 %2 4634 68= 86 2(7

For intelligence, innovation and the inside track on European commercial property, read EuroProperty Trends.

Every month weâ&#x20AC;&#x2122;ll analyse the emerging trends in a FREE, easy to navigate magazine available as a digital edition or on iPad. EuroProperty Trends will not only bring you incisive comment but interactive features including image galleries, audio interviews, video and more.

Go to estatesgazette.com/eptrends to ďŹ nd out more and to register for your FREE subscription.

mipim

neWs Ambitious development pipeline cements Paris’ super-city status

GRAND PARIS EXPRESS ON TRACK THE GREEN button has been pressed for Grand Paris Express, a metro transport network that will encircle the French capital and relieve congestion in the city.

The scheme, originally part of a plan to improve lifestyle and quality in Paris, was initiated by French president Nicholas Sarkozy in 2007. Now it will provide those using the system with four new lines incorporating 72 new stations — all due for completion by 2025 at a cost of just over €20bn.

Each of the new stations will be a one-off, built to adapt to its locality.

Eight of them will also provide links to the TGV train system.

The Les Halles project features a 13,000 sq m canopy

A

RAFT of new projects aimed at a mix of inner-city regeneration, urban renewal and the creation of entirely new quarters is under way in Paris, as the French capital seeks to consolidate its position as a 21st century European hub.

From the central Les Halles project, which will provide a new retail centre for Paris and which involves the complete renovation

The Batignolles project extends over 50 ha

and modernisation of the existing structure, to the 1.66 million sq m Paris-Saclay science park to the south of the capital, large tranches of the City of Light are being developed and redeveloped.

The Les Halles project typifies the speed of change. The building that has been open for more than 30 years is now being refurbished and a new 4.3 ha garden incorporated into the scheme. The major feature, however, is the 13,000

sq m canopy that will cover the whole enterprise, beneath which will be located a new network of pathways and a more functional regional train station. Work is due for completion by 2016.

But perhaps the most impressive of the new schemes is to be found in the 17th Arrondissement, where the Clichy-Batignolles urban-planning project has brought extensive change to the wasteland around the area’s railway. Here, more than 50 ha are being transformed with a 10 ha park, the relocated Paris Palais de Justice — a 160 m-high tower designed by Renzo Piano — and 400,000 sq m of mixeduse construction. The scheme will turn a brownfield site into a viable alternative for both businesses and citizens.

The Grand Paris Region’s projects are on view in the Marina Hall.

The new Grand Paris Express station at Creteil

The new lines will connect many of Paris’ outer suburbs and dispense with the need to head into the city centre in order to achieve an east-west or north-south transit.

Funding for the project is being provided by the Societe de Grand Paris, a state-owned body that was created in 2010 to ensure the delivery of the infrastructure required for the Grand Paris Express.

57

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mipim

neWs Future of UK economy lies in knowledge, Brian Cox says

Professor Brian Cox speaking on the Manchester stand

C

ELEBR ITY physicist Brian Cox brought i nter national attention to oppor tunities for growth and progression across Greater Manchester in a speech at MIPIM. Cox explored how the connections between people and

places have the power to change the world.

The speech formed one of six events being held on the Manchester stand this MIPIM. Cox said the future of the British economy lies in knowledge and knowledge-based services. “And Manchester and its university lies

at the sharp edge of that future,” he said. Cox forcefully endorsed the opinion in an essay by Nobel Prize-winning physicist Freeman Dyson entitled Manchester And Athens that identified them as the two most important cities in the history of science.

Focusing on Manchester University, Cox said: “We were 83rd in the world in the 2004 university league tables. We’d moved up to 40th by 2012. Our target is now to be in the top 25 by the year 2020.

And we’re on course for that.”

Manchester’s other speakers during MIPIM include Dan Lejerskar, chair of Californian technology firm Eon Reality; Rowena Burns COO of Bruntwood; Mike Emmerich, chief executive of New Economy; Charlie Cornish, CEO of Manchester Airports Group; David Pringle, director of NOMA at the Co-operative Group, and Mark Watts director at Arup.

The Manchester At MIPIM Partnership will highlight major developments and construction projects across the city-region under the triple themes of Lead, Link and Live.

Speed vital to secure best deals SPEED has become an important factor in securing trophy real estate assets in Europe and the US, according to Thor Equities CEO Joseph Sitt. The New York-based equity boss said that despite the competition for such properties, decisive and quick action was at the heart of the company’s strategy.

“We’re in the business of buying and selling trophy assets and that requires being creative and aggressive during the process,” he said, citing the acquisition of the boutique luxury retail scheme on the Croisette in Cannes as an example of such a deal, where Thor was able to pre-empt the market.

Sitt arrived in Cannes with “a

number of properties we are looking to sell” and also to look at potential acquisitions. He said that economic growth in emerging markets had helped buoy investment in trophy real estate in the

US because of the global nature of the market. “The US has been a beneficiary of the macro-economic situation, I feel that Europe is a little too Euro-centric and hasn’t benefited the same way.”

Thor Equities’ Joseph Sitt

TUNNEL TO JOIN GERMANY AND DENMARK VISITORS to the Copenhagen-Malmo stand can learn more about the €7bn Fehmarnbelt project that will see the construction of an 18km-long tunnel link between Denmark and Germany by 2021. The tunnel will comprise a four-lane motorway and a twin-track railway run in separate tubes It is believed that a fixed link across the Fehmarnbelt will provide the regions on both sides of the Belt with significant scope for development.

CRE PREDICTED TO RISE IN UK UK COMMERCIAL real estate, or CRE, is forecast to produce a total return of 5.7% this year, rising to 6.4% in 2014 and 7.3% in 2015.

F&C’s real estate investment-trust market review predicted that income would be the main driver of returns in both the short and medium term. On consensus forecasts, the UK economy is predicted to out-perform the eurozone, both in the short and long-term, the F&C review said.

XYMAX PROMOTES JAPANESE MARKET JAPANESE asset and property management company Xymax Corporation returns to MIPIM to promote the benefits of investing in Japanese, and to a limited extent, Korean real estate. Ryuhei Mori, head of the firm’s global marketing department is on hand during MIPIM to help with queries about investing in the market.

59

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mipim

neWs Retail should target smaller Polish cities, research says

Dominika Jedrak: Smaller Polish cities offer retail growth

ESEARCH from commercial property firm Colliers International has revealed the potential for retail development and investment in smaller Polish cities. However, to be suc-

R

cessful, the developments must be tailored to the economic and other limitations of the chosen location, the advisor said.

Since the end of 2011, 12 projects at a cumulative 137,000 sq m have been delivered to the mar-

kets analysed in the research.

Developers have shown interest in cities including Kutno, Nysa, Sochaczew and Cieszyn, which has resulted in some new developments being planned, bringing at least 84,000 sq m to the market by late 2014. For example, in Kutno two retail schemes totalling 26,000 sq m are expected to be delivered in early 2014. In Nysa, the 16,000 sq m Dekada scheme is due for completion in mid-2014, while the 9,000 sq m Vendo Park will be delivered this year.

Dominika Jedrak, director at Colliers International, said: “Our analysis shows that both developers and retail chains are interested in these markets, however, new developments have to be well matched to the spending power and needs of local residents in terms of size and retail offer.

“The data concerning purchasing power and the consumer market in small cities on the one hand shows the potential that modern shopping centres have, but also highlights the lifestyle and shopping habits of inhabitants, which have to be taken into account by developers in order to succeed.”

Standardisation key to global business

CRE member and Greenwich Realty Advisors chief Howard C Gelbtuch

STANDARDISATION has become one of the most vital issues in international real estate as developers and investors move to a more global mode of thinking, a leading property professional has said.

Speaking at MIPIM yesterday, New York-based real estate expert Howard C Gelbtuch said that the need to create universal standards in the property industry was greater than ever.

Gelbtuch, a member of US property organisation the Counselors of Real Estate (CRE) and principal of Greenwich Realty Advisors in New York, took part in a panel

discussion on standardisation and global valuation yesterday.

Speaking to MIPIM News he said: “As the world has got smaller and there’s more and more cross-border investment, there’s more of a need for standardisation in the way property is managed.”

CRE is a largely US-based invitation-only association of property professionals including developers, valuers, investors and property managers. It has recently established a European chapter in a move to encourage cross-border activity and maximise opportunities for its members both in the US and on the continent.

MONTPELLIER MAPS OUT URBAN FUTURE OZ MONTPELLIER Nature Urbaine, a large-scale urban sustainability project in the south-western French city, is on show at the Montpellier stand at MIPIM this week.

Situated to the south of the city and dubbed “emblematic” by Agglomeration Montpellier, the scheme comprises a 350 ha site around the new TGV station and will include 200 ha of protected green areas and 150 ha of urbanisation. The latter will incorporate a business centre that, it is anticipated, will involve the creation of more than 10,000 jobs, 5,000 shops and services and around 300,000 sq m of new office space. Following a competition, the project has been awarded to Kees Christiaanse of Rotterdambased KCAP Architects&Planners on the basis of a vision that combines sustainability with development, according to Agglomeration Montpellier.

WORK TO START ON CARMELITE RIVERSIDE ORION Capital Managers and Quadrant Estates have appointed Morgan Sindall as building contractor on Carmelite Riverside, the 12,600 sq m prime riverside office development at 50 Victoria Embankment, London. Work will start on the redevelopment immediately.

Morgan Sindall will be responsible for the £25m (€28.6m) construction of the eight-floor redevelopment to grade A standard. Carmelite Riverside will be completed and ready for occupation in April 2014. Orion Capital Managers bought Carmelite House last July from Aberdeen Asset Management and entered into a joint venture agreement with Quadrant Estates, as development manager, to develop the building, which is the former headquarters of the Daily Mail newspaper.

Leasing agents for Carmelite Riverside are CBRE and Knight Frank. The architect is Fletcher Priest.

61

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mipim

neWs Recruitment drive underscores C&W’s commitment to Turkey

Haluk Sur: C&W Turkey’s new non-executive chairman

R

EAL estate services company Cushman & Wakefield (C&W) has made several new appointments in Turkey as part of a major recruitment drive.

Following the appointment of Togrul Gonden and Tugra Gonden, who joined the firm from JLL as, respectively, managing partner and partner/head of office and industrial in January, Haluk Sur has now joined C&W as non-executive chairman. All three will be part of the board of directors in Turkey.

Sur has long experience in the Turkish real estate market, where he has been active in various roles over the past 25 years. He is a board member of Emlak Konut GYO — the largest REIT in the country — chairman of ULI Turkey, cofounder and former chairman of real estate investment trust association GYODER and current chairman of the Turkish Green Building Council.

Over the course of his career, he has been involved in the development and acquisition of real estate valued at $1.9bn

Didem Erendil: C&W Turkey’s new director of capital markets

(€1.45bn).

Didem Erendil has also re-joined the C&W team as director of capital markets. Returning to C&W after a three-year stint for Pramerica, she has vast experience of the Turkish transactional market and has been involved in several major deals over the past eight years.

Carlo Barel di Sant’Albano, CEO of C&W EMEA, said: “These latest appointments are proof of our drive to strengthen our Turkish team significantly and to make a real difference in the market.”

Leuven gets the student vote WATERVIEW is the third project to be developed by Ghelamco and Jasper-Eyers Architects in the Vaartkom district of Leuven in Belgium. It follows Waterside, a residential project with 116 apartments, and Van der Elst, a 16,000 sq m mixed-use office and retail project.

Waterview will play a key role in Leuven’s new area of urban development. It is also part of the Belgium city’s response to the growing need for modern student accommodation. It aims

to construct 3,500 new student rooms by 2018.

The 40,500 sq m Waterview project comprises 79 student stu-

dios, 352 student rooms and 112 studios, as well as retail facilities and public parking. The 4,785 sq m retail space is designed to ease

LEEDS WELCOMES NEW PROJECTS THE NEWEST shopping centre in the UK — Leeds Trinity — opens a week tomorrow.

The centre, which will have 70 stores, is one of two landmark projects to open in the UK’s third largest city this year, the other being Leeds Arena. These two projects will drive further investment in 2014, 2015 and beyond to add new entertainment, retail, office and commercial accommodation. KPMG’s new Leeds headquarters in Sovereign Street will also get under way this year. Private-sector support is key to Leeds and Partners, which is leading a high-level Leeds and city region delegation to MIPIM. The Eastgate Quarter development, which will include the flagship John Lewis store, and the continuing progress of the Aire Valley Leeds Enterprise Zone, are also being showcased in Cannes. Internationally renowned businesses are demonstrating their confidence in the Leeds region by joining with civic leaders to showcase the city and its environs.

the pressure on the historic centre of Leuven. The 1,002-car and 657-bike garage offers parking for students, shoppers and commuters.

Completion of Waterview is scheduled for September 2014.

Waterview to play a key development role in university city of Leuven

65

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feature MIPIM AWARDS 2012, WINNER PROFILES

MainTor, Frankfurt To be a winner at the prestigious MIPIM Awards takes something special, something big. The MainTor Quarter project ticks both these boxes several times over

B

RINGING 108,000 sq m of new space and five new buildings to a city like Frankfurt is a big deal in every sense. The challenge for deve-

loper Deutsche Immobilien Chancen (DIC) is immense, made all the more so by the fact that it has chosen to go it alone.

But DIC has already been rewarded for its grand design. Despite still being in the construction phase it caught the eye of the judges at last year’s MIPIM Awards, scooping the major prize in the Best German Project category.

When you see the plans for MainTor its scale becomes even more impressive. The project, when completed, will be a whole new quarter in itself. Situated in a prime spot within Frankfurt’s financial district, on the banks of the River Main, DIC is in the process of changing the face of the city.

To do this it has teamed up with a raft of top architects — Jurgen Engel, Professor Christoph Mackler and Jo Franzke — to draw up the ambitious designs. Their brief was to bring new life to a quarter that had been left to ruin for years and connect it with the rest of the district.

The pinnacle of the project will be the WinX building, a new skyscraper for the city’s riverfront. A gateway building will stand at 26 metres next to the main tower, which at 110 metres will be made up of 29 floors of office space.

With construction due to start in 2014, and with an estimated build time of just under three years, the WinX building will bring an extra 35,000 sq m of new space to Frankfurt’s thriving financial district and offer spectacular views down the river and to the historic city centre.

Surrounding WinX will be a cluster of four smaller buildings. These will cover the whole range of property uses, from exclusive apartments to restaurants and retail. The MainTor Panorama, designed by Professor Christoph Mackler, will stand at 64 metres and bring 13,500 sq m of mixed-use space over two buildings.

On the residential side MainTor Patio, due for completion in 2015, is set to be a new location for the upmarket tenant, with 92 apartments over 5,200 sq m on the way.

Designed by Jurgen Engel, these will sit above a ground floor to be filled with retail and high-class restaurants.

With these and the other two new builds on offer, MainTor Primus and MainTor Living, DIC has had a busy time since acquiring the site in 2006, and commencing

preparatory demolition works in 2011.

On the leasing side a raft of deals have already been struck for space in the development, including the most recent additions, in January this year. In the MainTor Panorama building 9,000 sq m has been secured for consultancy firm CMS Hasche Sigle, as well as 8,000 sq m for Union Investment in the MainTor Porta building.

It’s a big project in every sense, with various landmarks coming up in the next few years. Last year’s award, unlikely to be its last, shows that it pays to think big.

The team behind the MainTor project collect the prize for Best German Project at last year’s MIPIM Awards

67

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mipim

feature MIPIM AWARDS 2012, WINNER PROFILES

Morocco Mall, Casablanca Of all the shopping centres in all the towns in all the world, only one can win the prestigious MIPIM Award. Last year the honour for Best Shopping Centre, recognised throughout the international real estate industry, went to the Morocco Mall in Casablanca

T

HE CENTRE caused a stir in Morocco and much further afield when it opened in 2011, and

last year’s recognition was the latest in a string of high-profile accolades.

Situated in the unusual location of Casablanca’s Corniche coast, it was a huge development, years in the making. With its completion came a total of 250,000 sq m of new space, over a massive 10 ha of land. Of this, over 70,000 sq m is commercial space for mixed-use leasing, mainly retail.

In fact there’s nothing typical about the mall. Home to Africa’s first branch of the Galeries Lafayette (which includes the world’s largest in-store shop facade), an IMAX cinema, the biggest aquarium in the northern hemisphere and even a musical fountain, it’s a unique phenomenon in many ways.

Visitors can take an elevator journey right through the centre of the aquarium’s enormous tanks, which contain over 40 species of fish — including sharks — or even take scuba diving lessons with the sea life all around them.

The immense project, to build Africa’s largest shopping mall, was the vision of Moroccan developer Aksal.

With joint-venture partner Al Jedaie and lead architects London-based Design International, in 2007 it set about building a mall to house 350 retail units on the North African coast. Of the many big names the mall has attracted — including a host from the luxury sector — major French technology, music and games brand Fnac has opened a 3,000 sq m store.

The design, a double-loop structure, was the vision of Design International CEO Davide Padoa, who sought to weave images of nature and infinity into the building.

Through the core of its striking figure-of-eight shape — inspired by the symbol for infinity — is the Galeries Lafayette which spans all three storeys of the mall. In homage to the original store in Paris the designers have even included an art nouveau-inspired dome roof.

By the time Morocco Mall celebrated its first anniversary in December last year, 16 million visitors has been through its doors, exceeding even the ambitious 14 million the developers predicted. This isn’t really hard to believe, considering it is the only mall of its kind in the continent, and sits in a prime location on Casablanca’s famous seafront.

The vision wasn’t just of a mall, but a whole new landscape. The space, dissected by limestone pathways, includes a maze, an artificial lake (site of the musical fountain), parks and a grass amphitheatre, all against the backdrop of the Atlantic Ocean.

The Best Shopping Centre award is one of the most sought-after prizes in international real estate, and across all eight categories last year’s awards attracted more than 100 entries worldwide.

Morocco Mall is Aksal’s first big mall development, but with the nod from the industry that last year’s MIPIM Award represents, it seems inevitable that more will follow.

The Morocco Mall team with the MIPIM Award for Best Shopping Centre last year

69

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mipim

feature SOVEREIGN WEALTH FUNDS

UPP York University Campus Shoot (22.09.10)_4.jpg

The sovereigns are coming There has been a surge in the real-estate activity of the sovereign wealth funds, the government-run investment vehicles that manage state-owned assets. And thereâ&#x20AC;&#x2122;s more to come, writes Doug Morrison

G

INGKO Tree Investment, the Londonregistered arm of a Chinese state-owned fund, has just completed one of the big-

gest property investment deals in Europe this year with the acquisition of a 40% stake in University Partnerships Programme (UPP) for about ÂŁ550m.

UPP is the UKâ&#x20AC;&#x2122;s second biggest student-housing operator, making Gingkoâ&#x20AC;&#x2122;s acquisition a major endorsement of a sector that is often categorised in property terms as an ÂľDOWHUQDWLYH LQYHVWPHQWÂś WR PDLQVWUHDP RIÂżFHV DQG UHWDLO The UPP stake alone would be enough for most Western property watchers to sit up and take notice. But it is far from an isolated deal.

Last month, Gingko paid about ÂŁ70m for 49% of One Angel Square, the Co-operative Groupâ&#x20AC;&#x2122;s new headquarters in Manchester. Earlier this year, Gingko acquired a minority stake in Thames Water, the UK utility company.

The deal that propelled Gingko into the spotlight, however, was pure prime property: the acquisition of WKH 'UDSHUV *DUGHQV RIÂżFH FRPSOH[ LQ WKH &LW\ RI /RQ-

don for a reported ÂŁ285m from investment manager Evans Randall last summer.

Overall, it is a remarkable series of acquisitions, and it epitomises the growing presence of sovereign wealth funds (SWF) in western markets. The latest research from CBRE reveals that such funds helped drive crossborder investment activity across Europe in 2012, which was a strong year with â&#x201A;Ź127.2bn of deals, up 6% on 2011.

According to CBRE, purchases by SWFs have increased markedly, accounting for â&#x201A;Ź6.6bn in 2012. Such funds, together with state-controlled pension funds, PDGH XS D ÂżIWK RI WKH LQYHVWPHQW WRWDO :KDW WKH ÂżJXUHV XQGHUSOD\ KRZHYHU LV WKDW WKH SURSHUW\ VHFWRU KDV EHQHÂżWHG IURP D PXFK EURDGHU UDQJH of sources of sovereign wealth than in years gone by.

Not so long ago, sovereign wealth was synonymous with the powerful Middle Eastern funds â&#x20AC;&#x201D; and, indeed, the latter were as active as ever in Europe last year, says CBRE. But as Dr Neil Blake, CBREâ&#x20AC;&#x2122;s head of UK and EMEA UHVHDUFK SRLQWV RXW WKH ÂżHOG KDV RSHQHG WR LQFOXGH

Some funds are prepared to take development risk if it means getting into a market like London Dr Neil Blake 71

feature Asian funds â&#x20AC;&#x201D; not just Gingko and the China Investment Corporation, but also Malaysian and South Korean players. â&#x20AC;&#x153;They are relatively new to the market DQG WKH\ VHHP GHWHUPLQHG WR JHW H[SRVXUH WR WKH VDPH range of assets as everyone else. Itâ&#x20AC;&#x2122;s very much the established centres,â&#x20AC;? Blake says.

Unlike many institutional investors, however, the funds will back development projects if need be. The most QRWDEOH H[DPSOH ZDV ODVW VXPPHUÂśV Â&#x2026; P DFTXLVLWLRQ of Battersea Power Station in London, where Malaysiaâ&#x20AC;&#x2122;s Employees Provident Fund was part of the buying consortium. â&#x20AC;&#x153;Some funds are prepared to take development risk if it means getting into a market like London,â&#x20AC;? Blake says.

Deals of such magnitude as UPP and Battersea mean the new wave of Asian funds have hogged the headlines, but they are not alone. Norwayâ&#x20AC;&#x2122;s state-owned petroleum fund, Norges Bank Investment Management (NBIM), KDV EHFRPH DQ LQĂ&#x20AC;XHQWLDO SOD\HU LQ (XURSH LQ MXVW WZR years, not least with its purchase of a 50% stake in ShefÂżHOGÂśV 0HDGRZKDOO VKRSSLQJ FHQWUH ODVW \HDU Another telling indicator of new sovereign sources of capital was the recent â&#x201A;Ź135m acquisition of the prime RIÂżFH DQG UHWDLO SURSHUW\ DW 3ODFH 9HQGRPH LQ 3DULV by the State Oil Fund of Azerbaijan.

Commodity-rich countries like $]HUEDLMDQ DUH H[SHFWHG WR EH DW the forefront of future SWF actiOne Angel Square, Manchester, the new headquarters for The Co-operative Group vity, but there is a rich diversity of capital in play. A report published MRLQWO\ ODVW \HDU E\ ÂżQDQFLDO VHUtheyâ&#x20AC;&#x2122;ve got cash ready to go. vices groups Invesco and TheCiPeople know that, when they are W\8. Ă&#x20AC;DJJHG XS QHZ RU SODQQHG GHDOLQJ ZLWK WKHP WKHUHÂśV DQ H[fund launches in Angola, Bolivia, tremely high likelihood that they Canada, India, Taiwan, Thailand will complete the transaction as and, potentially most interesting promised.â&#x20AC;? of all, Japan.

The report calculated that SWF David Green-Morgan, a director assets totalled $5.2 trillion by the in Jones Lang LaSalleâ&#x20AC;&#x2122;s Interend of 2012, up from $4.8 trillion David Green-Morgan national Capital Group, believes the year before. There is also an the funds are no longer simply additional $7.2 trillion held in seeking a safe haven for their capiother sovereign investment vehicles, such as national tal, which has been an investment characteristic compension funds. Even allowing for a lack of transpa- monly attributed to them. â&#x20AC;&#x153;They are very focused on rency with many funds, there is a strong belief that generating returns,â&#x20AC;? he says. â&#x20AC;&#x153;The investment criteria property will attract a large share of this new capital. for a lot of these groups are pretty stringent. Itâ&#x20AC;&#x2122;s not a According to Kent Gardner, Evans Randall partner and case of preservation of wealth, which is what we have FKLHI H[HFXWLYH WKH VRYHUHLJQ ZHDOWK IXQGV WRGD\ VSOLW seen from some private investors over the last couple of into two broad camps: the new breed of funds looking years. This is very much about needing a broader base to diversify from domestic markets and the old guard, of investments around the world and direct property is which are similar in many respects to institutional an area where they have been under-represented histoLQYHVWRUV 7KH ODWWHU UHPDLQ LQĂ&#x20AC;XHQWLDO ,QGHHG RQH RI rically, apart from the Middle Eastern funds.â&#x20AC;? the oldest of the lot, St Martins Property, the real-estate Green-Morgan makes the point that SWFâ&#x20AC;&#x2122;s purchases fund of the Kuwaiti government, paid Evans Randall are underpinned by the fundamental investment case QHDUO\ Â&#x2026; P IRU LWV &DQDGD 6TXDUH RIÂżFH EXLOGLQJ of having to grow the wealth of the sovereign fund. in London Docklands earlier this year. â&#x20AC;&#x153;If they donâ&#x20AC;&#x2122;t, they come in for severe criticism from Both camps are powerful forces in the market, Gard- their national governments and citizens, because a lot ner says: â&#x20AC;&#x153;They have so much to invest and they are RI WKLV PRQH\ ZLOO EH IXQQHOOHG EDFN IRU WKH EHQHÂżW RI diversifying from other assets that are relatively low these countries eventually,â&#x20AC;? he says. â&#x20AC;&#x153;There is an end yielding, so property is attractive by comparison. Their purpose to all of this investment.â&#x20AC;?

FRVW RI FDSLWDO LV H[WUHPHO\ ORZ 7KH\ DUH WRWDO FDVK He adds: â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t think weâ&#x20AC;&#x2122;ve seen the end of it. In fact, buyers so, when they are bidding in the market, they weâ&#x20AC;&#x2122;re probably just at the start of this whole process of are generally favoured against other bidders because seeing these new sources of capital coming into property.â&#x20AC;?

They are very focused on generating returns.

The investment criteria for a lot of these groups are pretty stringent

72

mipim

Evans Randallâ&#x20AC;&#x2122;s Kent Gardner

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mipim

feature KEYNOTE PROFILE

‘Every project is unique’ Founded in 1996 in Berlin, Germany, J. Mayer H Architects’ studio, focuses on works “at the intersection of architecture, communication and new technology”. Peter Clucas spoke exclusively to Jurgen Mayer ahead of his MIPIM keynote speech

T

he designs you create are far from the ordinary or everyday. What motivates your clients to come to you?

Architecture is all about curiosity — for the new and for the unseen. And architecture is about challenging for a better future. Every project is unique.

Since we always develop individual designs for specific sites and clients, we don’t start with pre-conceived rules in mind. Our projects provide sustainable and economic success for the client and for the user. Architecture only works when clients and architects act together, working towards improving the culture of our built environment.

You are both an architect and an artist. How do the two disciplines compare?

I don’t see much of a difference between art and architecture. Architecture tends to be more complex because it involves so many layers of creation, which can be equally painful and joyful. There are rules, clients, even a political dimension, such as when projects fall within election schedules, which often occurs with the public schemes that we’re involved in. This can sometimes make it the art of negotiation more than the art of creation.

The feedback from architecture is more immediate; people are more involved. And the relationship you have with a client can stretch on for two or three years, so they’re part of the creative process; whereas with art, you create internally, personally and then put it out there.

ture in Lazika, and an international train station on a remote mountain plateau, all in Georgia. And our inner city Sonnenhof complex in Jena, Germany, with apartments, offices and commercial areas will be finished by the end of the year.

I am always very curious to see how our ideas about communication and public space might transform once these projects are handed over and begin their own life.

Our strategy is to strengthen even further our design, research and construction intelligence, and move our future projects up in scale.

If you could choose just one project to design anywhere in the World, what would it be?

Well, I like to keep secrets – but I am open to suggestions!

What do you hope to achieve by being at MIPIM?

Being part of MIPIM 2013 is a fantastic opportunity to share our projects, our research and our conceptual approach. It is a special time to spend with colleagues and meet new clients who share the vision of architecture as innovation.

You have some very exciting projects coming up in 2013. What kind of work would you like to be doing in five years from now?

The Schaustelle project in Munich for the Pinakothek der Moderne is our most current project to be opened. It offers an alternative space for innovative ways of curating and experiencing art. And we have several projects under construction — in Georgia, Belgium, Germany and the US. We’re continuing our involvement with mobility and sustainability for a large exhibition format for Volkswagen´s Autostadt in Wolfsburg. We are finishing the third Rest Stop near Tbilisi, a big landmark struc-

74

Jurgen Mayer’s border checkpoint in Sarpi, Georgia

the international retail property market 13-15 NOVEMBER 2013

Cannes - France www.mapic.com

3 days of exhibition, conference and networking to build the future of retail

RETAIL RISING STARS Brazil, China, India and Russia are enjoying booming economies and are ranked as the worldâ&#x20AC;&#x2122;s top destinations for retail expansion.

MAPIC 2013 will shine a spotlight on Retail Rising Stars with dedicated conferences and events. Join us !

The ECE fund went shopping in Denmark ECE is now making its market entry into Scandinavia with the ECE European Prime Shopping Centre Fundâ&#x20AC;&#x2122;s acquisition of the second-largest shopping center in Denmark. With the purchase of RosengĂĽrdcentret, in Odense, the fund is more than 75% invested with a strong and diversified portfolio of prime shopping centers in Austria, the Czech Republic, Germany, Italy, Poland, and now Denmark.

Shopping | Office | Traffic | Industries ECE Projektmanagement G.m.b.H. & Co. KG Heegbarg 30, 22391 Hamburg, Germany Phone: +49 (0)40 60606-0, Fax: +49 (0)40 60606-6230 www.ece.com, info@ece.com

at Visit us 1 6.0 Stand 1