Mipim 2016 news 4

mipim nEWs 速

DAY

Friday 18 March 2016

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HOUSING THE WORLD

p.8 Population growth drives residential performance

INNOVATION

p.27 Innovation districts on the rise

CLIMATE CHANGE

p.31 Property must play its part in controlling climate change, says EC

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(North Rhine-Westphalia), Germany’s No. 1 investment location: high consumer demand, social stability and low volatility in office, retail and residential real estate. Excellent commercial zones are complemented by innovative architecture, outstanding connections and a high quality of life.

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PROGRAMME OF mipim PROGRAMME OF CONFERENCES & EVENTS CONFERENCES & EVENTS

CONTENTS

FRIDAY 18 MARCH FRIDAY GREEN ROOM INNOVATION FORUM, 18 MARCH

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AWARDS

THURSDAY 17 MARCH

PROGRAMME OF CONFERENCES & EVENTS

4 THE 2016 MIPIM Awards have once again celebrated the brightest and the best of GREEN ROOM 17 MARCH BLUE ROOM RUBYTHURSDAY ROOM ORANGE ROOM INNOVATION FORUM, OTHER LOCATIONS the real estate PALAIS 3 world.

PALAIS 5 PALAIS -1 HALL 1 The 11 category winners were selected by a combination of the votes of MIPIM GREEN ROOMexperts.

MANAGING VOLATILITY, INVESTMENT HORIZONS RISE ORANGE OF HOTELS real delegates the verdict ofROOM MIPIM’s jury ofLIFESTYLE high-profile estate BLUEand ROOM RUBY ROOM LEADERS’ PROFITABLE ENERGY LIQUIDITY AND INNOVATION FORUM, OTHER LOCATIONS BROADEN ACROSS & RETAILTAINMENT BREAKFAST PALAIS 3 PALAIS 5 PALAIS -1 RECOVERY WITH And lastU.S.night the results wereINrevealed at the glittering MIPIM Awards Ceremony in REGULATION TODAY’S MARKETS HALL 1 IN THE HOSPITALITY DISTRICT HEATING GLOBAL CRE FINANCE PRIVATE TALKS WITH*: 10:00 11:00 INDUSTRY. the Grand Auditorium of the Palais des Festivals.

RECOVER, REDISTRIBUTE, MARKETS Gerard Lyons, Sponsor:HORIZONS HAP WHAT’S IN HOTELSHOTELS FOR MANAGING VOLATILITY, INVESTMENT RISE OF LIFESTYLE REUSEENERGY LEADERS’ Leading Global Economist, 10:00 11:00 Co-organiser: PROFITABLE EXPERIENCE? Turn toBROADEN pageACROSS 4 to find outLIQUIDITY who AND won. THE&CLIENT RETAILTAINMENT BREAKFAST New University U.S.York MARKETS

10:00 - 11:00 Sponsor: HAP Co-organiser: New York University

IS SPANISH REAL ESTATE MARKET STILL ON A POSITIVE SLOPE? 11:30 - 12:30 Sponsors: Gesvalt, Roca IS SPANISH REAL ESTATE Junyent MARKET STILL by a cocktail ONFollowed A POSITIVE SLOPE? 11:30 - 12:30 Sponsors: Gesvalt, Roca Junyent Followed by a cocktail

Sponsor: TheINBaupost REGULATION TODAY’S GLOBAL CRE FINANCE MARKETS 10:00 - 11:00 Sponsor: The Baupost

TRANSFORMING AFRICA'S SKYLINE, BUILDING THE FUTURE 11:30 - 12:30 Co-organiser: API Summit TRANSFORMING AFRICA'S SKYLINE, BUILDING THE FUTURE 11:30 - 12:30

10:00 - 11:30 IN THE HOSPITALITY Sponsor: JLL INDUSTRY. WHAT’S IN HOTELS FOR THE CLIENT EXPERIENCE? 10:00 - 11:30 Sponsor: JLL

EFFICIENT LOGISTICS FOR A COMPETITIVE EUROPE 12:00 - 13:00 Sponsor: EFFICIENT LOGISTICS Barcelona Catalonia FOR A COMPETITIVE EUROPE 12:00 - 13:00

Co-organiser: API Summit

Sponsor: Barcelona Catalonia

10:00 - 11:30 RECOVERY WITH Sponsor:HEATING UTC DISTRICT RECOVER, REDISTRIBUTE, REUSE 10:00 - 11:30 Sponsor: UTC URBAN PLANNING IN THE PERSPECTIVE OF ELECTRICITY 11:30 - 13:00 Sponsor: URBAN PLANNING Business Region Göteborg IN THE PERSPECTIVE OF ELECTRICITY 11:30 - 13:00 Sponsor: CREATING THE CITY Business Region Göteborg OF THE FUTURE 14:00 - 14:30 Sponsor: Grenoble AlpesTHE Metropole CREATING CITY

OF THE FUTURE CAMPUS 14:00DIAGONAL- 14:30 BESÒS – BARCELONA KEY: Sponsor: CREATING OPPORTUNITIES Grenoble Alpes Metropole THROUGH TERRITORIAL ACHIEVING <2 DEGREES UNDERSTANDING DEVELOPMENT CELSIUS: HOW MUST THE PROPTECH LATEST TRENDS: CAMPUS DIAGONALTHE BRAZILIAN MARKET – REAL ESTATE INDUSTRY 14:30 - 15:00 KEY: THE INVESTORS’ VIEW BESÒS – BARCELONA TOURISM FOCUS RESPOND Sponsor: Barcelona Catalonia 14:30 - 15:30 CREATING OPPORTUNITIES Keynote address by TO MEET NEW CLIMATE THROUGH TERRITORIAL Co-organiser: RICS ACHIEVING <2 DEGREES Henrique Eduardo Alves, UNDERSTANDING CHANGE PLEDGES? DEVELOPMENT HOW LED TECHNOLOGIES: Followed by cocktail, CELSIUS: HOW MUST THE PROPTECH LATEST TRENDS: Minister of Tourism, Brazil THE BRAZILIAN MARKET – - 15:30 of RICS TO IMPROVE REAL14:30 ESTATE INDUSTRY 14:30 -REAL 15:00ESTATE THEcourtesy INVESTORS’ VIEW 14:30 15:30 TOURISM FOCUS Sponsor:RESPOND Baker & McKenzie AND MAKE AN INVESTMENT Sponsor: Barcelona Catalonia 14:30 - 15:30 Keynote address by WITH A FAST PAYBACK TO MEET NEW CLIMATE Co-organiser: RICS Henrique Eduardo Alves, CHANGE PLEDGES? 15:00 - 15:30 HOW LED TECHNOLOGIES: Followed by cocktail, Minister of Tourism, Brazil Sponsor: ilQIESTATE 14:30 - 15:30 courtesy of RICS TO IMPROVE REAL 14:30 - 15:30 Sponsor: Baker & McKenzie AND MAKE AN INVESTMENT WITH APARROT FAST PAYBACK USING BEBOP 15:30ESTATE DRONE15:00 AS A -REAL Sponsor:SOLUTION ilQI 3D MAPPING 16:00 - 16:30 RESIDENTIAL Sponsor: Parrot URBAN POLICY USING PARROT BEBOP INVESTMENT PORTFOLIO: & HOUSING: DRONE AS A REAL ESTATE HIGH RETURN ON THE BEST IS YET TO COME COLLABORATING 3D MAPPING SOLUTION CREATIVE INVESTMENT: 16:00 17:00 EXPO MILANO 2015, FOR LIVEABLE CITIES 16:00 - 16:30 COWORKING 2.0 Sponsor: RESIDENTIAL SECURITY SOLUTIONS FOR 16:00 -POLICY 17:00 Sponsor: Parrot URBAN Crowdsourced session Kinsey Capital LLC INVESTMENT PORTFOLIO: OVER 21MLN PEOPLE &growth HOUSING: drives residential performance 8 Residential HIGH winner RETURN Population ON THE BEST ISbyYET TO COME Followed a cocktail, 16:30 - 17:00 COLLABORATING 16:00INVESTMENT: - 17:00 CREATIVE courtesy of 16:00 - 17:00 Sponsor: CAME EXPO MILANO 2015, FOR LIVEABLE CITIES COWORKING 2.0 27 Innovation Innovation districts on the Residential rise Sponsor:Land FollowedSOLUTIONS by a cocktailFOR SECURITY 16:00 - 17:00 Crowdsourced session Kinsey Capital LLC OVER 21MLN PEOPLE winner 31 Climate change Property must playFollowed its part, says EC by a cocktail, 16:30 - 17:00 16:00 - 17:00 OPPORTUNITY & DEAL courtesy of Sponsor: CAME Residential Land SOURCING DATA FollowedTHROUGH by a cocktail 17:00 - 17:45

Chief Economic Adviser to Mayor TALKS of London and PRIVATE WITH*: former ChiefLyons, Economist Gerard StandardGlobal Chartered Bank Leading Economist, 8:00 - 9:30Adviser Chief Economic Sponsor: Lennar International to Mayor of London and Hotel] former[Majestic Chief Economist Standard Chartered Bank 8:00 - 9:30 Sponsor: Lennar International [Majestic Hotel]

GREEN ROOM INNOVATION FORUM, HALL 1

MANAGING VOLATILITY, LIQUIDITY AND REGULATION IN TODAY’S GLOBAL CRE FINANCE MARKETS 10:00 - 11:00

RISE OF LIFESTYLE HOTELS & RETAILTAINMENT IN THE HOSPITALITY INDUSTRY. WHAT’S IN HOTELS FOR THE CLIENT EXPERIENCE? 10:00 - 11:30

PROFITABLE ENERGY RECOVERY WITH DISTRICT HEATING RECOVER, REDISTRIBUTE, REUSE 10:00 - 11:30

Sponsor: The Baupost

HALL 1

Sponsor: UTC

Sponsor: JLL

IS SPANISH REAL ESTATE MARKET STILL ON A POSITIVE SLOPE? 11:30 - 12:30 Sponsors: Gesvalt, Roca Junyent Followed by a cocktail

TRANSFORMING AFRICA'S SKYLINE, BUILDING THE FUTURE 11:30 - 12:30

URBAN PLANNING IN THE PERSPECTIVE OF ELECTRICITY 11:30 - 13:00

EFFICIENT LOGISTICS FOR A COMPETITIVE EUROPE 12:00 - 13:00

OTHER LOCATIONS

BREAKFAST

PRIVATE TALKS WITH*: Gerard Lyons, Leading Global Economist, Chief Economic Adviser to Mayor of London and former Chief Economist Standard Chartered Bank 8:00 - 9:30 Sponsor: Lennar International

Sponsor: Business Region Göteborg

Sponsor: Barcelona Catalonia

[Majestic Hotel]

CREATING THE CITY OF THE FUTURE 14:00 - 14:30

UNDERSTANDING PROPTECH LATEST TRENDS: THE BRAZILIAN MARKET – THE INVESTORS’ VIEW TOURISM FOCUS 14:30 - 15:30 Keynote address by Co-organiser: RICS Henrique Eduardo Alves, Followed by cocktail, Minister of Tourism, Brazil courtesy of RICS 14:30 - 15:30

CAMPUS DIAGONALBESÒS – BARCELONA KEY: CREATING OPPORTUNITIES THROUGH TERRITORIAL DEVELOPMENT 14:30 - 15:00

MIPIM WRAP-UP A condensed sum-up of 3 intense days of feeling the industry's pulse.

Lessons learned and way forward!

10:00 - 11:00 In association with Wisconsin School of Business

HOUSING 10:00 - 11:00

[Networking zone, Hotel & Tourism pavilion, Palais -1]

Sponsor: Grenoble Alpes Metropole

ACHIEVING <2 DEGREES CELSIUS: HOW MUST THE REAL ESTATE INDUSTRY RESPOND TO MEET NEW CLIMATE CHANGE PLEDGES? 14:30 - 15:30

GREEN ROOM INNOVATION FORUM, HALL 1

LEADERS’

GREEN ROOM INNOVATION FORUM, HALL 1

Co-organiser: API Summit

FRIDAY 18 MARCH

HOUSING THE WORLD: A PLACE FOR EVERYONE, POWERED BY PECHAKUCHA 11:00 - 12:30

JOIN THE CONVERSATION! ENGAGE WITH MIPIM 2016, ONLINE AND ONSITE

MIPIM WRAP-UP A condensed sum-up of 3 intense days of feeling the industry's pulse.

Lessons learned and way forward!

MIPIM WRAP-UP

Sponsor: Baker & McKenzie

Sponsor: Barcelona Catalonia

[Grand Auditorium]

LED TECHNOLOGIES: HOW TO IMPROVE REAL ESTATE AND MAKE AN INVESTMENT WITH A FAST PAYBACK 15:00 - 15:30 Sponsor: ilQI

H&T LUNCH* 13:00 - 14:30

Sponsor: Ministry of Tourism Republic of Indonesia

[Networking zone, Palais -1]

HIGH RETURN ON CREATIVE INVESTMENT: COWORKING 2.0 Crowdsourced session winner 16:00 - 17:00

RESIDENTIAL INVESTMENT PORTFOLIO: THE BEST IS YET TO COME 16:00 - 17:00 Sponsor: Kinsey Capital LLC

URBAN POLICY & HOUSING: COLLABORATING FOR LIVEABLE CITIES 16:00 - 17:00

Followed by a cocktail, courtesy of Residential Land

USING PARROT BEBOP DRONE AS A REAL ESTATE 3D MAPPING SOLUTION 16:00 - 16:30

HASHTAG: #MIPIM

CONFERENCE LIVETWEETS AND KEY SHOW TWEETS: @MIPIMWorld

LIVE REPORTS & MORE ON MIPIM’S OFFICIAL BLOG: http://www.GlobalRealEstateExperts.com

Sponsor: Parrot

DAILY REPORTS & CONFERENCE VIDEOS: http://www.youtube.com/mipimworld

EXPO MILANO 2015, SECURITY SOLUTIONS FOR OVER 21MLN PEOPLE 16:30 - 17:00

OFFICIAL MIPIM PHOTOS, DAY-BY-DAY: http://www.flickr.com/mipimworld

Sponsor: CAME Followed by a cocktail

10:00 - 11:00 A condensed sum-up of 3 intense days ofwith feeling In association the industry's Wisconsin School ofpulse.

Business Lessons learned and way forward!

& please feel free to share your MIPIM experience on Instagram, Vine and Periscope: we’ll be keeping an eye out!

OPPORTUNITY & DEAL SOURCING THROUGH DATA 17:00 - 17:45 Sponsor: Deal X

MIPIM AWARDS PRIZE-GIVING CEREMONY FOLLOWED BY AWARDS COCKTAIL 18:30 Official sponsor: Turkishceramics Official press partner: Immobilien Zeitung [Grand Auditorium]

*By invitation only events

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HOUSING THE WORLD SESSIONS

Interactive session: Download the mobile app to interact during the session

Programme as of 03/03/2016. Information contained in this programme may be subject to change.

10:00 - 11:00

10/03/2016 16:59

In association with Wisconsin School of Business

HOUSING 10:00 - 11:00

[Networking zone, Hotel & Tourism pavilion, Palais -1]

HOUSING THE WORLD: A PLACE FOR EVERYONE, POWERED BY PECHAKUCHA 11:00THE - 12:30 HOUSING WORLD: [Grand Auditorium] A PLACE FOR EVERYONE, POWERED BY PECHAKUCHA H&T LUNCH* 11:00 13:00 -- 12:30 14:30

JOIN THE CONVERSATION! ENGAGE JOIN THE WITH MIPIM 2016, CONVERSATION! ONLINE AND ONSITE ENGAGE WITH MIPIM 2016, ONLINE HASHTAG: AND ONSITE #MIPIM

[Grand Auditorium]

Sponsor: Ministry of Tourism Republic of Indonesia H&T LUNCH*

[Networking zone, Palais -1]

13:00 - 14:30

Sponsor: Ministry of Tourism Republic of Indonesia [Networking zone, Palais -1]

CONFERENCE LIVETWEETS HASHTAG: AND KEY SHOW TWEETS: #MIPIM @MIPIMWorld CONFERENCE LIVETWEETS LIVE REPORTS & MORE AND KEY SHOW TWEETS: ON MIPIM’S OFFICIAL BLOG: @MIPIMWorld http://www.GlobalRealEstateExperts.com LIVE REPORTS & MORE DAILY REPORTS & CONFERENCE VIDEOS: ON MIPIM’S OFFICIAL BLOG: http://www.youtube.com/mipimworld http://www.GlobalRealEstateExperts.com OFFICIAL MIPIM PHOTOS, DAY-BY-DAY: DAILY REPORTS & CONFERENCE VIDEOS: http://www.flickr.com/mipimworld http://www.youtube.com/mipimworld & please feel free to share OFFICIAL MIPIM PHOTOS, DAY-BY-DAY: your MIPIM experience on Instagram, http://www.flickr.com/mipimworld Vine and Periscope: we’ll be keeping an eye out! & please feel free to share your MIPIM experience on Instagram, Vine and Periscope: we’ll be keeping an eye out!

Sponsor: Deal X

®

Sponsor: HAP Co-organiser: New York University

ORANGE ROOM PALAIS -1

[Networking zone, Hotel & Tourism pavilion, Palais -1]

OPPORTUNITY & DEAL SOURCING THROUGH DATA MIPIM AWARDS PRIZE-GIVING CEREMONY FOLLOWED BY AWARDS COCKTAIL 17:00 - 17:45 The official MIPIM daily newspaper 18:30 Friday 18 March 2016 Sponsor: Deal X

Director of Publications Paul Zilk Director of Communication Mike Williams Official sponsor: Turkishceramics

INVESTMENT HORIZONS BROADEN ACROSS U.S. MARKETS 10:00 - 11:00

RUBY ROOM PALAIS 5

HOUSING 10:00 - 11:00

NEWS

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THURSDAY 17 MARCH

BLUE ROOM PALAIS 3

Official pressEditor partner:Paul Immobilien Zeitung EDITORIAL DEPARTMENT Editor in Chief Graham Parker News Strohm Reporters Peter Clucas, Ben Cooper, Mark Faithfull, Steve McCormack, Mark Moore, Liz Morrell Sub Editors Clive Bull, JulianMIPIM Newby, Joanna Stephens CEREMONY Proof Reader Debbie [Grand Auditorium] AWARDS PRIZE-GIVING FOLLOWED BYLincoln AWARDSTechnical COCKTAIL 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 18:30 Alminana, Olivier Houeix, Patrick Frega, Phydrass Haidar, Michel Johner Editorial Management Boutique Editions Official sponsor: Turkishceramics Official press partner: Immobilien Zeitung Interactive session:

PRODUCTION DEPARTMENT Publishing Director Martin Screpel Publishing Manager Amrane Lamiri Production Assistant Eric Laurent ADVERTISING CONTACT IN CANNES Laurianne Di Cecca 07 77[Grand 69 34 96 laurianne.dicecca@reedmidem.com Download the mobile app Auditorium]

HOUSING (SAS), THE WORLD SESSIONS invitation only to interact during the session Programme as of 03/03/2016.

Information contained in this programme mayBOULOGNEbe subject to change.

Reed*ByMIDEM, aevents joint stock company with a capital of €310.000, 662 003 557 R.C.S. NANTERRE, having offices located at 27-33 Quai Alphonse Le Gallo - 92100 BILLANCOURT (FRANCE), VAT number FR91 662 003 557. Contents © 2016, Reed MIDEM Market Publications. Publication registered 1st quarter 2016. Printed on PEFC Certified Paper.

*By invitation only events thursday_friday_news.indd 1

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HOUSING THE WORLD SESSIONS

Interactive session: Download the mobile app to interact during the session

3

Programme as of 03/03/2016. Information contained in this programme may be subject to change.

10/03/2016 16:59

10/03/2016 16:59

AWARDS Best Healthcare Development Sponsored by

Queen Elizabeth University Hospital & Royal Hospital for Children Glasgow, Scotland United Kingdom Developer: Brookfield Multiplex Architect: IBI Group Client: NHS Greater Glasgow & Clyde Other: WSP Group, TUV SUD, Doig and Smith, Gillespies LLP, Ginko Projects

Best Hotel & Tourism Resort JW Marriott Venice Resort & Spa Venice, Italy Developer: La Sessola Srl Architect: Matteo Thun & Partners Project Manager: Luca Colombo

Best Industrial & Logistics Development

ELI Beamlines Prague, Czech Republic Developer: Fyzikalniustav Akademie, ved CR, v.v.i., Institute of Physics, Academy of Sciences, Czech Republic Architect: Bogle Architects

Best Innovative Green Building Treurenberg Brussels, Belgium Developer: AXA Investment Managers â&#x20AC;&#x201C; Real Assets Architect: ASSAR ARCHITECTS Owner: AXA Belgium

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Best Office & Business Development

#CLOUD.PARIS Paris, France Developer: SFL (Societe Fonciere Lyonnaise) Architect: PCA Philippe Chiambaretta Architecte

Best Refurbished Building

Papillon Dusseldorf, Germany Developer: 741 Projektentwicklung GmbH Architect: Luczak Architekten & SW Hauser GmbH Other: Cadman GmbH, Hellmich Gruppe & CarLoft

Best Residential Development

Katscha Norrkoping, Sweden Developer: Ivarsson Byggnads AB Architect: Kai Wartiainen and Ingrid Reppen, arkitektur + development ab Public Authority: Norrkopings kommun

Best Shopping Centre

Les Docks Village Marseille, France Developer: Constructa Urban Systems Architect: 5+1 AA Other: JP Morgan Asset Management

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AWARDS Best Urban Regeneration Project

Crossrail Place London, United Kingdom Developer: Canary Wharf Group Architect: Foster + Partners Engineer: Arup, Wiehag

Best Futura Project Paradis Express Liege, Belgium Developer: Fedimmo Architect: association A2M – JaspersEyers Architects – BAG Other: Bureau Lemaire, TPF engineering, D2S, Heinz Winters Atelier, Duchene, Galere, Interbuild, bureau HSP

Best Futura Mega Project

DUO-PARIS: Taking urban sensations to new heights Paris, France Developer: Ivanhoe Cambridge Architect: Jean Nouvel Project Manager: Hines

People’s Choice Award Shanghai Tower Shanghai, China Developer: Shanghai Tower Construction & Development Co. Ltd Architect: Gensler Other: Shanghai Construction Group, Thornton Tomasetti, Cosentini Associates, SWA Group, I.DEA Ecological Solutions

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mipim

NEWS

Residential strategies dictated by demographics and demand Holder Mathias Architects has seen positive benefits from its MIPIM Awards 2015 success, according to senior partner, Peter Gamble. Its client, Center Parcs was delighted with the win for its Woburn Forest project, designed by Holder Mathias.

That successful working relationship continues with its latest scheme, a similar project in Ireland.

LOGICOR ACQUIRES EUROPEAN ASSETS LOGISTICS specialist Logicor is purchasing a portfolio of 12 assets from logistics real estate investment vehicle Goodman European Partnership (GEP).

The 496,000 sq m portfolio comprises six assets in Germany, three in Spain and three in Benelux. Existing tenants across the portfolio include third party logistics service providers, manufacturers and engineering firms.

“This high-quality portfolio is a continuation of our growth strategy,” Logicor chief executive and president Mo Barzegar said. “The result is a stronger Logicor position in several key European logistics markets as well as deeper relationships with new and existing customers.” Logicor’s Germany platform now totals in excess of 2 million sq m and the company has over 1 million sq m in Spain and over 500,000 sq m in Benelux.

Moderator Liam Bailey of Knight Frank (left) with Silvio Estienne, Patrizia; James Kinsey, Kinsey Capital; Mahdi Mokrane, LaSalle; and Bruce Ritchie, Residential Land

P

OPULATION growth and residential demand are the key drivers for deciding where best to invest in the residential market, a panel of experts put forward at a conference yesterday.

Germany, the Netherlands and the UK were all identified as attractive European investment locations, according to LaSalle head of European research and strategy, Mahdi Mokrane.

“The yield environment has been typically low for the residential sector but at the moment it looks reasonably attractive,” he said. “In Germany there are perhaps 10 to 12 cities which we believe will really benefit from growth, even though nationally the population is in decline. We like the Netherlands for different reasons and we also like UK cities like London, but also Manchester, Birmingham, and

we recently made an acquisition in Leeds.”

Silvio Estienne, general manager at Patrizia, said the residential market in France is stable but expressed concern about the “squeezed middle class”, who neither had access to affordable housing nor enough money to purchase their own property.

In the super-heated London market, Residential Land founder and chief executive Bruce Ritchie said he expected the strongest rental growth to come from the outer boroughs because of the significant increases in the central zones over recent years.

Meanwhile New York-based Kinsey Capital president James Kinsey said that the Manhattan market continued to be supported by constrained supply and the lack of “normally priced” residences “because the only economically justifiable development is luxury condos.”

New appeal of high-rise living

THE FOUNDER of a French architecture firm has said that residential towers in Paris are becoming more popular thanks to changing attitudes about the style of building.

Speaking to MIPIM News, PierreAndre Comte, founder of Comte Vollenweider, said that the old image of tower blocks was changing among Parisians with the emergence of a new generation of more attractive tall residential buildings

around the city.

Comte Vollenweider, which is in Cannes as part of the wider Grand Paris pavilion, was the lead architect on the Home project, a high-rise residential building in the 13th arrondissement in the south east of Paris, which opened last Spring. The firm worked with architects Hamonic + Masson to deliver the project on behalf of developer Bouygues.

The distinctive twin-tower building,

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which is now fully let, is one of the tallest residential buildings in the area and at 50 metres high is well above the 27-metre average height for the district. It contains 2,000 apartments half of which have been allocated as affordable housing.

The 13th arrondissement is known for being home to a number of scientific and academic institutions, as well as the National Library of France.

Comte Vollenweider’s PierreAndre Comte

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, e s u o l So Tou

L I A T K C O UN C !

S E C N E L L E C X E ’ D

1 4 D .

7 R

FRENCH STRONGEST ECONOMIC GROWTH GDP +2,9 in last 10 years

FRENCH STRONGEST DEMOGRAPHIC GROWTH 20,000+ inhabitants per year

Photos : Jean-Philippe MOULET / Mike Peel / Studio Zanzibar

WORLD CAPITAL OF AERONAUTICS

TRY AND ES !

S S A L G * R WIN V lity *Virtual rea

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mipim

NEWS

Croatia’s spectacular coastline offers ‘fantastic opportunities’

T P3’s Ian Worboys: “important to understand banks”

HE CROATIAN Chamber of Economy is at MIPIM for the first time to meet potential investors and to showcase some of the projects that are currently under way, particularly in the Dubrovnik, Split and Istria areas. It is also highlighting a number of projects that have recently been completed up and down the stunning Adriatic coastline.

The Croatian Chamber of Economy is in Cannes with three private sector partners: Cio Real Estate, Operetta Real Estate and Eurovilla Real Estate.

“We think it’s a good time to invest in Croatia,” said Borislav Vujovic, director of the Croatian Chamber of Economy. “There are fantastic opportunities. We have one of the most unspoilt and spectacular coastlines remaining in

the entire Mediterranean. There are more than a thousand islands.

We’re keen to move forward with the right kind of development.”

Vujovic said that, with Croatia’s recent change of government, the investment climate has become more investor-friendly. “Laws governing investment and ownership have changed and been streamlined. It’s now easy for foreigners to invest in Croatia.”

The medieval city of Dubrovnik, one of the jewels of Croatia’s Adriatic coast

P3 LOGISTICS PARKS SETS SIGHTS ON WESTERN EUROPE PROPERTY company P3 Logistic Parks has almost 220,000 sq m of warehouse space under construction in four countries across Europe — about twice its 2015 development total.

The company is at MIPIM to help to fuel its portfolio growth. “We have a large landbank, but we would like to buy in Western Europe,” said P3’s CEO Ian Worboys. He added that he is also in Cannes to meet banks because P3 is planning to refinance. “It’s important to understand banks’ minds and know what is in the future that we are building together,” he said.

According to Worboys, rents for built-to-suit buildings are bottoming out.

There is a shortage of existing space and rents are being pushed up, which is why P3 is building speculatively at Horni Pocernice near Prague and at Gottfrieding in Germany. In the latter, it has bought a site for a 50,000 sq m warehouse, situated about a six-minute drive from the BMW factory.

Six smart ways to house the world THE FIRST Powered By PechaKucha conference session was held at MIPIM yesterday.

Six representatives were invited on stage to pitch their 20-second, 20-image presentations on MIPIM’s theme of Housing The World. Peter Woodward, director of Quest Associates, moderated the session.

First up was Ingvar Sejr Hansen, head of planning for the City of Copenhagen, who spoke of the challenges his city faced after its population more than halved in the Eighties. “Nearly half of the population left the city for the country and suburbs,” he said.

Today the focus is on rebalancing Copenhagen. It has a 750,000 population target for 2027 and is delivering the necessary 45,000 new houses over the next 10 years. About 20% of this stock will consist of affordable housing.

The six presenters at yesterday’s inaugural Powered By PechaKucha session

“The city has changed,” Sejr Hansen said. “There are now green back yards with playgrounds and recreational facilities to encourage more young people to stay. There is also a modern transport system.”

In the presentation that followed, Bouygues Development’s deputy managing director, Richard Fagg, said London faced much bigger challenges: “They have to build 45,000 houses in 10 years. We have to build 50,000 a year.”

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mipim

NEWS Canary Wharf Group’s Sir George Iacobescu shows off the Herzog and de Meuron Tower

International investment drives economic upturn in Catalonia

T HIGH HOPES FOR CANARY WHARF FLAGSHIP TOWER DUE FOR completion later this decade, 80% of Canary Wharf Group’s Ten Park Drive has sold already. With that in mind, Brian De’ath, head of residential sales, is very optimistic about the future for its next landmark project, the Herzog and de Meuron Tower: “Every apartment is unique and the balconies are all private,” he said. “The result is that sales values lower down the tower will be strong, having the feel of a penthouse.”

Canary Wharf head of strategy, Howard Dawber, explained that the iconic London dockland development is now well into its second phase of development. The decision to reduce its dependence on the financial services sector has resulted in a fall from 60% to 48%. In addition, its residential developments constructed and managed by Canary Wharf will be 50% in the private rented sector.

The company is also evaluating a range of sites in London where it can bring its expertise into play. “We are looking for difficult projects,” Dawber said.

HE SPANISH region of Catalonia and regional capital Barcelona are undergoing a renewed spurt in economic growth, as evidenced by new investment in the region, which hit €2bn in 2015. The UK’s Financial Times put Catalonia as the best region of the future in southern Europe 2016-17 for investment.

Investment levels are up 43% from the previous year. And indications are that 85% of the investment in Barcelona comes in the form of foreign capital.

The Barcelona Catalonia stand is showing some of the developments under way now as a result of the new investment levels.

In this setting, the Catalonia government through its Incasol agency, and the Barcelona city council are committed to developing strategic projects in Catalonia, especially in the Barcelona metropolitan area and with logistics projects along the Mediterranean Corridor, with intermodal logistics platforms strategically

located to drive this sector.

Other noteworthy projects in the Barcelona Catalonia initiative include 22@, Eix Besos, Sagrera, Marina del Prat Vermell, Pla Delta and Parc de l’Alba, the last one with 1.5 million sq m of floor space available in one of the most advanced science, technology and business platforms in Europe.

Barcelona Catalonia says it is

committed to a more just, efficient and sustainable urbanplanning model that values rehabilitation as a tool to tackle social inequality and improve quality of life. This strategy will begin the energy transition that will help make us less dependent on fossil fuels, reduce greenhouse gasses and decrease the amount of polluting gasses put into the atmosphere.

The Barcelona Catalonia stand at MIPIM

Buoyant growth in Spanish market

INVESTORS DRAWN TO UK STRENGTHS THE UK continues to be a target for international investment thanks to the benefits it offers, according to Melanie Leech, chief executive of the British Property Federation. “There are historical advantages that continue to play to our strength — the time zone, stable currency and a strong legal system,” she said. An investors breakfast held by the British Property Federation at MIPIM showed appetite remained strong, according to Leech.

“People really are interested in understanding more about the market,” she said. “One of the things they are also here for is to understand the implications of Brexit, though it’s not putting them off.”

THE REAL estate market in Spain attracted €8.8bn of investment in 2015, the highest level since 2008, according to international agency Knight Frank.

The impressive growth last year was driven largely by investment in retail, which attracted €4.6bn in total across shopping centres and high streets, accounting for over half of the total investment.

This was followed by the office market which attracted €3.3bn last year, 38% of all Spanish investment.

The total investment was up 13% from 2014’s figure, a record yearly increase in Spanish commercial property, but, the agency

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warned, not one that is likely to be repeated in 2016 if current forecasts are correct.

Knight Frank’s head of commercial property in Spain Humphrey White said: “Forecasts for this year suggest that investment levels will remain slightly lower than in 2015, although a greater number of transactions are expected. Essentially we are facing a lack of product, not investor demand.”

Just under half of all the investment by volume came from domestic parties, with British, French and American investors topping the list of foreign backers interested in the Spanish market.

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NEWS

Morocco ‘the gateway to Africa’ takes inspiration from Turkey

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UK Minister of State Brandon Lewis: important “everyone is treated equally”

HE PRESENCE of Casablanca with a stand at MIPIM is not only a showcase for the Moroccan city but also a statement of intent for the country, Nazih Chentouf, managing partner at Alhambra Property said.

A group of Casablanca-based companies plus Centre Regional d’Investissement Casablanca have come together to introduce the city to international investors and end-users and to promote Morocco as the “gateway to Africa,” taking “inspiration from the way Turkey has grown its real estate presence at MIPIM to become a world-renowned location”.

Chentouf added that this was the first step in a “five-year vision” to raise the profile of Morocco as an investment and development market, explaining the opportunities available in the country.

Mohamed Charif Houachmi, partner at Business Realties International, said that Africa would open up as a market over the next few years: “The future is all about Africa and Morocco is the perfect starting place for people.

By bringing our businesses together we are aiming to provide international companies with local contacts and information about how they enter the Moroccan market.”

UK MINISTER STANDS

BY STAMP DUTY HIKE THE UK Minister of State for Housing and Planning, Brandon Lewis, defended the government’s decision to apply stamp-duty increases to both private and institutional investors but said the government still supported the private rental sector (PRS).

Speaking to MIPIM News, he said that in regard to taxation it was important “everyone is treated equally”, while he also renewed his commitment to increase home ownership in the UK, which has been in decline since 2003.

“Over 86% of people say they aspire to own their home,” he said.

“The £600m (e765m) we raise in stamp duty increases will go towards developing more affordable homes, especially in the south west where there is the greatest affordability gap. But while we support home ownership, I also recognise the importance of the PRS model because people need social and economic mobility and also because it boosts housing capacity.”

Looking to ways government could help institutional investors, he said he had “set the industry a challenge in presenting a united voice” on those issues which most mattered in encouraging more build-to-let properties and that he was expecting the results via the British Property Federation soon.

Raising the profile of Morocco at MIPIM: Business Realties International’s Mohamed Charif Houachmi (left); Alhambra Property’s Nazih Chentouf; VBS’ Zineb Midafi; Kaizen’s Kamal Nourji; Design & Build Contracting’s Jawad El Asri; ECOS Development’s Mehdi Alaoui; and Amazirh Architectes’ Anass Amazirh

Tahincioglu projects on show in Cannes TURKISH developer Tahincioglu is at MIPIM to show its projects to the world. The company’s chairman Ozcan Tahincioglu, said: “Tahincioglu Real Estate is one of Turkey’s leading marks in the real estate industry. We undertake premium retail, office, residence and shoppingmall projects as well as the construction and development of luxury hotels.”

The company actively manages its extensive portfolio comprised of revenue-generating real estate assets. The total construction area of projects completed by Tahincioglu covers over two million sq m to date, Tahincioglu said.

Among the company’s projects are Palladium Tower, Palladium Atasehir Shopping Mall and Residence, Palladium Antakya Shopping Mall, Nidakule Kozyatagı, Nidakule Goztepe and Swissotel Grand Efes and Convention Centre. Tahincioglu’s construction company Nida Construction is the contractor for its projects.

“The construction of LEED Gold Certificate candidates Nidakule Financial Centre, Nidakule Atasehir and Nidakule Levent as well as the residential projects Nidapark Basaksehir and Nidapark Seyrantepe are in progress,” Tahincioglu said.

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Having completed Nidapark Besiktas in 2015, Tahincioglu continues to undertake urban transformation projects. Tahincioglu Real Estate also has several projects in the planning stage in İstinye, Bomonti, Kayasehir, Zeytinburnu, Cengelkoy, Kozyatagı, Beykoz and Yenisahra.

“MIPIM is a chance to get together and network with global players, as well as follow up on latest trends and developments in real estate,” Tahincioglu said. “MIPIM also creates a global arena in which to present our company and meet with potential investors.”

Tahincioglu’s Nidakule Atasehir West

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NEWS

Savills highlights top ten asset hotspots in Europe

W Chris King and Leanne Beaupre from Grande Prairie, Alberta

CANADA’S BOOMING GRANDE PRAIRIE CHRIS King and Leanne Beaupre from Alberta’s Grande Prairie County came to Cannes looking to tell the economic success story of their part of Canada to potential investors and developers.

Grande Prairie County’s economic development officer Chris King said: “We’re growing rapidly in economic terms. In fact during the recession between 2007 and 2013 our economy actually grew by 46%.”

The economy of the area is based on gas, oil and agriculture.

“We have enough gas to supply the whole of Canadian needs for 150 years,” King said.

“The county has a median age of just over 30, and under 30 in the city itself,” Leanne Beaupre said.

“We are building 300 new dwellings a year. The average income in the county is $CAN 109,000 a year [€75,000].”

Chris King added as an indicator of the good times in Grande Prairie: “The average time to sell a house is now 15 days. And our hotel occupancy is between 85% and 99%.”

The Grande Prairie representatives are at MIPIM looking to talk to developers and investors about a lakeside waterfront development, residential, hotels, leisure and commercial units in the county.

HILE shopping centres in prime cities such as Berlin, London and Madrid might be the correct choice for more risk averse investors, healthcare property in France and Germany might be a more suitable choice for investors embracing risk, according to international real estate consultancy Savills which has compiled a list of the 10 hotspot asset types in Europe.

Divided into two categories, one for the risktaking investors and one for those looking for more security, the list covers sites and markets throughout the continent.

Among the five best assets in the riskier class, Savills says that healthcare in Germany and France could provide good returns, driven by the need to serve ageing populations with more private care home and health facilities.

It also identifies central and eastern European office space as an asset with high potential for returns, as companies seek to reduce property

and labour costs in their international operations. The more conventional low-risk assets on the list include shopping centres in prime cities, pan-European e-commerce logistics — driven by a 22% increase in online shopping throughout the continent last year — and student housing in cities and countries attracting high levels of international students.

Commenting on the findings, Marcus Lemli, Savills head of European investment, said: “European commercial real estate remains one of the best places for investors to earn a healthy yield and we anticipate total investment volume to grow between three and five per cent in 2016. Investors, however, are looking to actively diversify their portfolios and therefore volumes are likely to be less concentrated in a handful of key locations, and spread more evenly across the continent this year.

“For both the opportunistic and the cautious investor there are multiple opportunities available — often within the same city.”

Sekisui reveals plans for Sydney JAPANESE residential developer Sekisui House, operational in Australia, Singapore and North America, has completed its land acquisition for Melrose Park in Sydney, Australia. The company’s Central Park project in Sydney, a joint-development with Frasers, was winner of MIPIM 2015 Best Global Innova-

Sekisui’s Central Park in Sydney, Australia

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tive Green Building award.

Melrose Park is a joint venture with long-term development partner Payce Consolidated and will be one of the largest urban regeneration projects in the region.

Plans are for a phased, mixed-use development, which will create 1,500 new jobs, new housing (including affordable and key-worker accommodation), commercial office and retail space, along with a range of new and enhanced community facilities and public parks.

Commenting on Australia’s economic outlook for future housing development, Craig D’Costa, project director for Sekisui House Australia said: “Some analysts believe that the volatility in Australia’s commodities market will ultimately unhinge the domestic economy. It’s true that external shocks impacting mining have brought challenges, but the resilience seen in other sectors has maintained an economic balance that creates opportunity for our company’s continued housing development success as we create communities for generations now and in the future.”

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Historical legacy meets modern city in Piyalepasa regeneration

The Piyalepasa project aims to offer green architecture and sustainability

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HE PIYALEPASA Istanbul project is an urban transformation story taking place in Piyalepasa, one of the oldest and grandest historical districts of Istanbul. Developed by Piyalepasa Gayrimenkul, it will offer the benefits of green architecture and a sustainable city-district life.

Under the trademark name Polat, the $800m project is being built on a site of 82,000 sq m — thought to be the biggest urban renewal project in Turkey developed by the private sector. The 440,000 sq m project will create a new district with 950 residential units, 45,000 sq m of office space, a 34,000 sq m hotel, parking for 3,900 cars and a 31,000 sq m shopping mall. It has been planned to revive

Piyalepasa Gayrimenkul’s Kaan Yucel: “human-oriented design”

the cultural heritage of this historical district as a part of the modern city.

Kaan Yucel, general manager of Piyalepasa Gayrimenkul, said: “Piyalepasa Istanbul aims to stand out as a human-oriented quarter design that respects the environment, history and the neighbourhood.”

The project, designed by Iki Design Grup, looks to retain the spirit of the historic neighbourhood at the same time as becoming a new centre of city life. “Containing design overtones of Seljuk and Ottoman architecture, Piyalepaşa Istanbul aims to offer contemporary living areas with cascade facades, wide eaves, bays, pools and inner court designs, without distorting the silhouette of the city or the district,” Yucel said.

Turning the camera on construction THE REAL estate industry is increasingly realising the benefits of construction-site monitoring, both for marketing purposes and to save on travel, according to Devisubox.

The French construction-site monitoring company, which is doubling in size each year, offers two services to developers. The first allows them to monitor the progress of their construction sites through a online web portal. It uses a solar-powered HD camera that takes five images a day and loads them to the client’s online platform. This allows users worldwide to check the status of the site rather than having to fly out to view it in person.

The second service takes 500 images a day over the lifecycle of the build — typically 18 months — which Devisubox then collates into a three-minute video that businesses can use for promotion.

Devisubox’s Germain Daleau: “working on around 650 construction sites”

“We are working on around 650 construction sites, mainly around France but also in Germany, Luxembourg, Belgium and Morocco,” said Germain Daleau, business developer for Devisubox. He added that Devisubox has also just opened an office in Canada.

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NANTES AND SAINTNAZAIRE LAUNCH JOINT STRATEGY THE MAYORS of Nantes and Saint-Nazaire are in Cannes to launch their joint future strategy for the territory, which includes an investment programme of €2.3bn to be delivered over the next two years.

A number of key development projects are being showcased at MIPIM this week, including extension and modernisation programmes at each of the two main railway stations, and a long-term strategic investment of €170m into the Grand Port Maritime Nantes Saint-Nazaire.

Nantes mayor Johanna Rolland and Saint-Nazaire mayor David Samzun are in Cannes to promote the various projects to international investors.

Saint-Nazaire mayor David Samzun and Nantes mayor Johanna Rolland

MHA TAKES STOCK LONDON-based property entrepreneur Hossein Abedinzadeh is using MIPIM to search for more stock for his growing UK portfolio.

In 2011, Abedinzadeh founded the property company MHA. Since then, he has expanded the portfolio, acquiring both commercial and residential property predominantly in London and the south east of England.

With a focus on adding value to each acquisition, Abedinzadeh works alongside surveyors, architects and project managers to acquire ever-more challenging sites. His latest acquisitions include properties in Welwyn Garden City and Fleet, as well as the Old Street tech cluster on the northern fringe of the City of London.

IN PICTURES

The sun came out in Cannes on Thursday as MIPIM delegates made the most of opportunities to network in and around the Palais

Technology is changing the way we view property

French Economy Minister Emmanuel Macron faced the press on Tuesday

VTB Arenaâ&#x20AC;&#x2122;s runners got Wednesday off to a flying start

Club Pelotonâ&#x20AC;&#x2122;s Belgian cyclists unwind after an epic journey to Cannes

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An early start for networking at Wednesdayâ&#x20AC;&#x2122;s Polish Breakfast Hanshin Electric Railway president Takaoki Fujiwara

Ex-England football captain Rio Ferdinand launches Legacy, his new social-housing business

Brisk business on the Italian pavilion

Conducting business in Berlin

Former Leicester Tigers players George Chuter (left) and Leon Lloyd at Team Leicestershireâ&#x20AC;&#x2122;s Celebration of Rugby event.

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NEWS BELFAST RENTAL RATES BREACH £20 BARRIER OFFICE building rental rates in Northern Ireland have hit £20 per sq ft (€280 per sq m) for the first time, it was revealed at MIPIM this week.

9 Lanyon Place, a Grade A office building in Belfast, has been occupied by US insurance firm Allstate since its completion in 2000. Under new lease terms negotiated by Causeway Asset Management on behalf of landlord Kilmona Holdings, Allstate will remain as tenants for at least another two years.

Patrick Kearney, managing director of Kilmona Holdings, said: “This is a very important breakthrough in the Belfast office market and reflects a number of factors, including the rising level of high-quality inward and indigenous investment in the city, and the rapidly improving quality of our Grade A office space.”

Although Allstate is to relocate in a few years, Keaney said he was confident about reletting the building, especially as it is submitting a planning application that will almost double its size.

TROWERS & Hamlins’ senior partner, Jennie Gubbins (left), and the law firm’s partner and head of residential development, Sara Bailey, launched their new report, Highly Valued, Hard To Value, at MIPIM this week. The study, prepared in association with Oxford Brookes University, advocates measuring social, cultural and environmental factors, alongside financial outcomes to determine the success of developments.

Philippines back in Cannes with flagship tourism opportunities

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EPRESENTATIVES from national government agencies and top property developers in the Philippines have joined together on the Invest Philippines stand.

The country is building upon the success of its debut at MIPIM last year. “Quality delegates we met last year recall our presence and say they expected to see us attending again,” said Guiller Asido, CEO of Tourism Infrastructure and Enterprise Zone Authority (TIEZA).

This year’s delegation consists of the Philippine Department of Tourism; Tourism Promotions Board Philippines, TIEZA, Philippine Retirement Authority, Megaworld International and Century Properties Group Incorporated. They are promoting a selection of flagship tourism opportunities to investors, including the San Vicente Tourism Enterprise Zone in the province of Palawan and the South Palms resort in the Panglao Bay tourism enterprise zone.

Against the backdrop of the Philippines’ fast-growing tourism

Department of Tourism’s Maria Victoria Jasmin (left) with TIEZA’s Guiller Asido

industry, international brands such as Accor, Marriott, Conrad, Shangri-La, Raffles and Fairmont have already established a presence in the country.

“Investors we met last year have already come to our country to see for themselves what is on offer, and we continue to nurture these clients by providing a healthy environment in which to do business,” said Maria Victoria Jasmin, undersecretary of tourism regulation, co-ordination and resource generation at the

Department of Tourism.

Strong support of both the government and private sectors is designed to ensure the Philippines is one of the prime tourism investment destinations in South-East Asia. For example, legislative changes mean that overseas investors can be offered a one-stop shop when considering the Philippines. “Whatever an investor requires — including infrastructure, such as transport or sewerage — TIESA will be able to provide,” Jasmin added.

European healthcare fit and well YOUR Care Consult, a financial and real estate investment advisor, has announced the results of its study into the European healthcare real estate markets.

Six countries were surveyed: France, Germany, UK, Belgium, Italy and Spain. The report found that the highly dynamic healthcare real estate market has enjoyed strong growth in investment volumes since 2014.

Stephane Pichon, managing partner at Your Care Consult, said: “Against a backdrop of historically low interest rates, the search for secure returns via long leases once again boosted investment in European health-

Your Care Consult’s Stephane Pichon: “a promising outlook”

care real estate in 2015, with the investment volume reaching €5.8bn, up 40% compared with

2014. A real pan-European market is being formed, helped by the acquisition strategies of many real estate investors, both European and US. This is creating a promising outlook, with investment volumes expected to exceed €6bn and cap rates expected to be down in 2016.”

In 2015, European investors mostly favoured the UK market, which was up by 67% in a record year. This was followed

by France (+60%) and Belgium (+50%). Germany was stable, with highly active primary and secondary markets. Spain was similarly stable, with the market up also in Italy.

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NEWS

New arena design will ‘enhance Barcelona FC’s global brand’ HOK’s proposed new arena for FC Barcelona

Double winner: High-Rise BASF SE by Eller + Eller Architekten

DOUBLE WIN FOR ELLER + ELLER LAST night, Eller + Eller Architekten’s high-rise office design for BASF SE in Ludwigshafen, Germany was named Overall Winner of this year’s Architectural Review MIPIM Future Projects Awards. The 26,000 sq m (gross) project was also winner in the offices category.

High-rise BASF SE comprises two 88-m high-rise towers. The project, which is designed to house approximately 600 staff, incorporates an observatory deck and contemporary office and conference space, while the “future-orientated” architectural language offers a “high degree of flexibility in relation to changes to the office landscape”.

The jury said that the project “feels as though it will be a good place to work, (featuring) an elegant project with a shell plan and innovative facade which fits its context effortlessly.”

This year’s Architectural Review MIPIM Future Projects Awards celebrated 26 exemplar architectural projects from around the globe, which were selected from across 10 separate categories. The winners included projects by Rogers Stirk Harbour + Partners, Mecanoo, gpy arquitectos, WS Atkins, NBBJ and Tabanlioglu Architects.

A

RCHITECT HOK has released design details for FC Barcelona’s new Palau Blaugrana arena. FC Barcelona recently selected HOK and Barcelona-based TAC Arquitectes as part of an international architectural competition that drew responses from 19 teams.

The new arena, which will have a capacity of 12,000 for sporting events and 12,500 for social and cultural events, is a key component of a broader project to improve FC Barcelona’s fa-

cilities, including a major renovation of the Camp Nou stadium. It will replace the existing 7,500-seat Palau Blaugrana, which opened in 1971.

“Our design of the New Palau Blaugrana will enhance FC Barcelona’s global brand and the fan experience while connecting to other planned developments in the Espai Barca district,” said John Rhodes, a London-based director of HOK’s Sports + Recreation + Entertainment practice.

“We are creating an immersive experience that begins the mo-

ment patrons step off the Metro and continues until they reach their seats and then through their post-event activities.”

A large projection screen on the underside of the arena’s roof will show footage of the event under way. An outdoor concourse features concession areas that the public can enjoy every day. Outdoor patios, public plazas and green spaces across the site, which will be vehiclefree, create informal spaces for people to gather before, during and after events.

London’s super-prime is ‘best in class’

THE LONDON super-prime residential pipeline has “never looked stronger” according to one of the directors of a Mayfairbased developer Clivedale.

Speaking to MIPIM News, Clivedale sales and marketing director Fred Scarlett said: “Within the pipeline there are some topquality builds; London has the bestin-class developments on a global scale. It still scores highest in the world in terms of a destination”.

Clivedale is working on a number of residential projects in London, all within Mayfair in the west of the city. These include a partner-

ship with Dorchester Collection, owner of world-renowned hotels The Dorchester on Park Lane and the Beverley Hills Hotel, to deliver luxury apartments with shared gym and swimming pool adjacent to Hyde Park.

The project, being led by Clivedale, is due for completion in 2018.

It is the first time Clivedale has attended MIPIM since it was founded five years ago. Scarlett said the event offered a “single platform and a forum with all the agencies and institutions, and as a relatively new company we wanted to fly the flag”.

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Clivedale’s David Laycock (left) and Fred Scarlett: flying the flag

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NEWS New urban model must give ‘innovation a sense of place’

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PANEL of speakers analysed the emerging urban model in which the work environment is driven by an innovation hub.

The session — Innovation Districts: A New Urban Development Model Emerging In The United States — was moderated by Julie Wagner of the Brookings Institution. Wagner talked through the various historical models for the city: “The industrial estate or park came first, followed by the research park and now we’re moving into the age of the innovation park.”

Wagner defined the innovation park as a “geographic location, often anchored on an academic hub, which is populated by a series of high-tech startups and research-based companies.”

She described three types of innovation hub: “The anchor-plus, which is generally situated

in mid-town; the re-imagined urban area, which may be near a waterfront or other older industrial area; and the urbanised science park, which will be outside the city.”

Wagner stressed that workers in the out-oftown park increasingly expect all the facilities of a city centre to be available on or close to the work environment.

Keith Orris of Drexel University presented the case of Philadelphia, which he claims has the “biggest millennial population in the US”.

Add the availability in the region of $1.4bn in R&D funding, and it is no surprise that a major innovation community, called Schuylkil Yards, is about to be built there.

Thomas Osha of Wexford Science and Technology said innovation districts required “a true long-term view to generate the most value”. He added: “So it’s not necessarily about real estate, it’s about giving innovation a sense of place.”

Brookings Institution’s Julia Wagner: “We’re moving into the age of the innovation park”

Twenty years of Paradise for PwC PROFESSIONAL services firm PwC has signed a pre-let agreement to relocate its 1,400-strong Birmingham team to the city’s £500m (€633m) Paradise Birmingham development, part of the UK’s biggest Enterprise Zone.

The first business to sign up to the development, PwC has taken 8,360 sq m on the top four-and-a-half floors of the landmark One Chamberlain Square office building on a 20year lease.

The 170,000-sq m mixed-use Paradise Birmingham scheme is one of the largest in the UK and will see the transformation of this

key part of the city centre. One Chamberlain Square will be a seven-storey, premium-quality office building with shops and restaurants on the ground floor. It will overlook the refurbished and enhanced Chamberlain Square, which is surrounded by some of the UK’s finest Victorian civic buildings, including the Town Hall, Birmingham Museum and Art Gallery and Council House.

Construction of One Chamberlain Square will begin shortly, with completion expected in the third quarter of 2018. PwC will relocate to One Chamberlain Square in early 2019.

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Eataly’s Tiziana Primori

EATALY WORLD OPENS IN ITALY EATALY World will open in mid-2017 in Bologna in Italy, delivering a theme park that includes everything from production to the consumption of Italian food.

Showcased at MIPIM this week, the project is both an entertainment and edutainment park dedicated to food, said Tiziana Primori, vice-president of Eataly and CEO of Eataly World.

“We call it from the farm to the fork because you can see all the steps of the chain, from the animals to the raw materials and workshops and restaurants,” she said.

The development, which comprises 80,000 sq m of space, will include 40 workshops, 25 restaurants, multimedia areas and a business centre.

PwC set to move into One Chamberlain Square, Birmingham

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NEWS The way we work is redefining modern office and living space

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HE CANADA conference on Wednesday afternoon looked at how the real estate industry must adapt to contemporary ways of working and living.

Live, Work, Play — Redefining Living Spaces was moderated by Meka Brunel, executive vice-president Europe at Ivanhoe Cambridge. Speakers included John Forrester, chief executive EMEA at Cushman & Wakefield; Patrick Nelson, vice-president, real estate at WeWork; Arthur Lloyd, executive vice-president, office, North America at Ivanhoe Cambridge; and Florence Peronnau, vice-president, real estate at Sanofi Group.

Meka Brunel said real estate developers are being faced with new questions and they can’t just keep looking back to solutions that worked in the past. They need to be aware of work and living-space trends that will affect the future of their industry.

Forrester said the key to getting future work and living space right was infrastructure.

Waterstones’ flagship bookstore, Piccadilly, London

FUND ACQUIRES FLAGSHIP STORE ON PICCADILLY Speakers at the Canada conference on Wednesday

“You can’t spend too much time getting to and from work. Current and future generations aren’t going to stand for that,” Forrester said.

“Downtown is the place to be right now,” Lloyd said. “The modern worker expects things to be brought to them — not the other way round as it used to be.

We’re also going to see much more multifunctional space in

offices and dwellings, and much smaller unit space sizes.”

Nelson said: “Location and visibility, the old rules, still apply.

But space sharing is coming in.

People expect spaces for work, for privacy, and for interaction.”

And Peronneau said that “it’s a competitive world in real estate.

And always will be. The companies that create the best environment will attract the best people.”

Boost for Irish commercial sector

DELEGATES were invited to try out a flight simulator as part of an exhibition by the local authority for Hounslow in London.

Hounslow Borough in west London includes Heathrow Airport and the Golden Mile area — the first business district located in between the airport and central London. The council was showcasing ambitious plans to the market, including a reinvigoration of the Golden Mile area with new housing and transport links to the centre of London.

THE PERFORMANCE of commercial real estate in Ireland has mirrored that of the national economy in recent years, says a report by Frank Knight.

The improving economic situation has stimulated investor interest which has emanated from many corners, both domestic and international, and included private investors, private equity funds, REITs and institutions.

In 2015 €3.5bn was invested in Irish commercial property, up from €600m in 2012.

The Irish economy expanded by 7.8% in 2015, its fastest pace since 2000 and surpassing all economic forecasts. The turnaround in Ireland’s economic fortunes has been remarkable given the 5.6% contraction seen

in 2009 at the height of the economic downturn.

Dublin, which has been at the heart of the economic recovery, was also one of the strongest performing cities globally. In the third quarter of 2015, total returns from Dublin commercial real estate was 29.2%, comfortably surpassing global cities such as London (19.5%), New York (12.7%) and Los Angeles (14.5%).

While returns from Irish commercial real estate have rebounded considerably since the economic downturn — standing at 6.0% in the three months to December 2015 — they are still some way off their peak in June 2006, when returns stood at 8.8%. This suggests that there is still room for further growth.

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AN ITALIAN property fund dedicated to the Lawyers’ National Pension Fund has acquired the long-term leasehold of the Waterstones flagship bookstore located in 203-206 Piccadilly, London. The €117m transaction — the first international move by the Cicerone Fund — has been undertaken by Cicerone Holding BV, which is the fully-owned Dutch subsidiary of the fund.

The 6,161 sq m listed property is a notable example of the 1930s modern architecture movement, in a prominent location in the exclusive St James’s district within the West End of London. The eight-storey building is fully let to Waterstones, which trades from the lower ground to the fifth floor with the remainder being used as the company’s headquarter offices. The retailer has committed to a long-term lease until 2034.

The property is held leasehold from The Crown Estate for a remaining term of 118 years. CBRE Global Investors acted as advisor on the acquisition and Fabrica SGR is the fund’s asset manager. Lunson Mitchenall acted for CBRE Global Investors.

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NEWS Climate change panel stresses need for green construction

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RCHITECTS and developers must think “beyond energy efficiency in buildings” and transform the way construction is carried out if the real estate industry is going to meet sustainability pledges, a leading expert on global climate change has said.

Speaking at a session to discuss the future of green development, held at MIPIM yesterday, European Commission policy officer Dr Josefina Lindblom said that more needs to be done to measure the true environmental impact of buildings, including at the construction phase.

“Very few buildings are assessed for their wider environmental impact beyond energy efficiency and clearly that’s not enough,” she said. “A green building is more than just an energy efficient building; so much energy is used in construction as well.”

Dr Lindblom was speaking as part of an expert panel on climate change, which was brought together to discuss how the real estate industry can implement sustainable pledges made during the Buildings Day at the COP21 conference in Paris last year.

Also speaking on the panel, World Green Building Council chief executive Terri Wills said that it has been estimated that for real

Invest Lisboa’s Rui Coelho

LISBON REVEALS NEW BRAND FOR EXPANDED CITY

European Commission’s Dr Josefina Lindblom

estate to play its part in limiting global warming to two degrees Celsius, the total carbon footprint of construction and building occupancy around the world needs to be cut by 84 gigatons per year — the equivalent of 224 coal plants being closed.

“This is no small feat,” Wills said, “but green construction offers a good chance to do this.”

Brazil races to capitalise on Rio

UNDERSTANDING The Brazilian Market – Tourism Focus was an opportunity to gain insights into the way in which the country’s tourist industry is determined to gain more traction.

Keynote speaker Rodrigo Marques, general investment co-ordinator for the Ministry of Tourism of Brazil presented some impressive statistics. In 2014 the country received 6.4 million tourists and in 2016, with Rio hosting the Olympic Games, this may be up by a further million. “And Brazil is in fifth place in the world in terms of foreign direct investment,” he said. “The country’s credit position is not unstable.”

With visa restrictions lifted for countries such as Australia, Japan and Canada, Marques is expecting 2016 to see a rise in investment in hotels. With only 351,000 quality hotel rooms, Brazil has just one 10th of the number in the US. With 25% in the luxury sector and occupancy rates growing steadily in the last 10 years, “there is lots of room to grow,” he said.

One area of particular interest is the cruise

Ministry of Tourism of Brazil’s Rodrigo Marques,

sector, where Brazil’s coastline, rivers and canals present a major growth opportunity.

Finally, the government is considering allowing the development of casinos, which have been banned since the 1950s. “This will enrich the tourism industry in Brazil,” he said.

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PORTUGUESE capital Lisbon is opening up for investors and new businesses, with the creation of the Lisbon South Bay area, encompassing Almada, Barreiro, Seixal and the city of Lisbon.

Invest Lisboa executive director Rui Coelho said that the city was experiencing very strong economic growth and a surge in tourism after “a number of very challenging years” but that a relatively small city expansion is needed to capitalise on further growth.

“This is a very exciting moment for Lisbon but we are a small city and we need scale,” he said. “The mayor really wants to use the popularity of the city with international investors to promote Lisbon as a place for entrepreneurs, for startups and for the digital economy. To do this, we need to create a new area to enlarge the city.”

Branded Lisbon South Bay, the combined area is looking to attract both real estate investment in commercial, residential and logistics but also end-users wishing to establish their businesses in the city. Lisbon has used MIPIM as the launch for the new brand and to promote the benefits of investing or locating there.

“We are looking to collaborate with companies who want to make use of this location, which is on the south bank and right next to the city centre,” Coelho said. “There are still problems of course; debt in the country, high unemployment, so we really want to encourage investment with so many opportunities here and to attract talented people from around the world.”

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NEWS

Great wall of global money hits record-breaking high

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EW capital targeting commercial real estate across the world has grown to a record level, according to the 12th edition of the Great Wall Of Money report, launched at MIPIM by Cushman & Wakefield.

The research found that available capital reached $443bn (€390bn) in 2015, the highest figure since records began in 2009. The Americas — led by the US — attracts the most capital, while China, the UK, Japan and Germany are all in the top five.

However, despite healthy levels in many markets, the pace Cushman & Wakefield’s Nigel Almond of growth in capital raising is slowing. The 3% increase seen vestors have been in putting their in 2015 is much weaker than the capital to work in an increasingly 21% growth recorded the year buoyant market. before and reflects how active in- Growth in available capital was 233_RM MULTI SALON_N1&3_PIM

recorded across the three regions with Asia Pacific leading with an 8% increase to $131bn, bolstered by the closing of a number of

funds during the course of 2015.

Despite this increase, however, the region attracts the least capital. Both EMEA and the Americas saw capital expand by less than 2%. Across EMEA, there is $143bn of new capital, with the Americas still attracting the greatest amount at $169bn.

In a step change from last year, actual raised capital has started to decline — albeit by less than 1% from $408bn to $407bn. This indicates that funds that have raised are focused more on deploying their capital. This is especially true for EMEA, where raised capital fell 4% over the year.

Report author Nigel Almond, Cushman & Wakefield’s director of capital markets research, said: “The weight of cross-border flows continues to transform real estate markets across the globe.

Most notably, more than 40% of capital targeting both Asia Pacific and EMEA is from outside their respective regions, with North American-sourced capital dominating.”

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NEWS Slovenia celebrates Ljubljana’s European Green Capital award

FASHIONTV ON HUNT FOR NEWBUILD HOTELS

THE 24/7 fashion, beauty and style TV channel, FashionTV, is seeking more new-build HE DESIGN of the Spirit hotels for its FashionTV Hotel Slovenia stand this year format. FashionTV, which was celebrates the naming of founded in France in 1997, is Ljubljana as European distributed to around 500 Green Capital for 2016. million households in 192 The European Green Capital countries. FashionTV Hotels Award, which was launched in are affordable four-star offers, 2010, rewards EU cities’ efforts with a focus on entertainand commitment to improving ment, cafes and clubs. They the urban environment, boosting also host fashion-related awareness of the need for envievents, and some are ronmental change at city level. broadcast on FashionTV. Ljubljana has put in place a comThere are currently two prehensive set of policies to help The Spirit Slovenia stand: focus on sustainability FashionTV Hotels in deliver a more sustainable city. The operation, both of which are Slovenian capital boasts vast areas for sustainable urban develop- city can use to benchmark and in Bali. The company is now of green space. Public transport, ment, sharing and promoting the monitor its environmental perlooking for additional 200pedestrian access and cycling net- best practices that have been tried formance. to 300-room hotels. works — it has 220 km of managed and tested in the city.

The aim is to invite all European Although new builds are prefcycling routes — are the backbone The European Commission is cities to improve their urban enerable in order to implement of its urban mobility system. developing a new voluntary tool vironment and quality of life. The the full design rebranding, As European Green Capital 2016, based on the 12 criteria used to tool is expected to be launched in existing properties will be Ljubljana will act as ambassador select Green Capitals that any June. considered.

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NEWS

Deal to turn tech parks Three developments will shape Newcastle’s future into science hotbeds MARS PENSION Fund’s Business Environments for Science and Technology (BEST) — a portfolio of five science parks situated right across the UK — has been sold for £95m to US investment manager Angelo Gordon and Trinity Investment Management.

The 348-acre portfolio is the largest privately owned network of science and technology parks in the UK. The acquisition was advised by Colliers International whose new Life Science team, alongside its lease advisory experts, have been retained to advise on the strategic development of the portfolio.

Kaleigh Haeg, who is a life sciences specialist at Colliers International, said it would work with the joint venture to transform the

BEST network into a “globally competitive, strategically designed portfolio of science hot beds”, something which Haeg said had been missing up until now.

“While science capabilities in the UK have long been recognised as among the best in the world, the science parks that house those institutions and businesses have all too often lacked the necessary strategic thinking to support and deliver the limitless potential offered by advancing life science sectors.”

The BEST network of science parks consists of Edinburgh Technopole in Scotland, Hexagon Tower in Manchester, Kent Science Park in Sittingbourne, Langstone Technology Park in Havant, Hampshire and Wilton Centre in Teeside.

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HE SHAPE of Newcastle city centre in the north east of England will be driven by three key projects, which include technology, life sciences, offices, residential, retail and leisure.

Invest Newcastle inward investment director Catherine Walker said that the sites’ scale and city-centre locations made them “unique opportunities for investors” and added that in combination with two enterprise zones, they would have a significant impact on Newcastle.

“This is our first year exhibiting at MIPIM but having attended last year, and with the active schemes we have to showcase, we couldn’t not be here,” she said. “We have had opportunities to discuss Science Central, Stephenson Quarter and East Pilgrim Street with investors but also to explain how

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Invest Newcastle inward investment director Catherine Walker

Newcastle is changing to major corporate clients.”

With an emphasis on digital technologies, the creative industries and life sciences, the developments are balancing commercial regeneration with city centre living and services. “Some of the projects are evolving over time,” said Walker.

“Our East Pilgrim Street development for example is attracting creative companies and as such the retail, leisure and residential offer is becoming a little quirkier to match the demand.”

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BIGGER, BRIGHTER, BETTER: BIELEFELD From old to new: Loom Bielefeld will be the name of the city’s completely refurbished shopping center, opening in fall 2017. The former City-Passage in Bielefeld’s main pedestrian zone is currently being converted into a modern and attractive shopping center, with approx. 110 shops on a sales area of 26,000 m². The highlights of the 120-million-euro project will be an elliptical plaza covered by an impressive glass dome as well as a premium food court. www.ece.com

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