MIPIM 2022 NEWS 3 by RX REAL ESTATE SHOWS

NEWS Thursday 167_DIT_N1et 3_PIM 17 March 2022

THE MIPIM AWARDS Don’t forget to vote for your favourite project at the Awards gallery

MIPIM HIGHLIGHTS News of conferences, and business done in Cannes

EDOUARD PHILIPPE Former French Prime Minister on trusting the power of cities

www.mipim.com Advertisement

gab_mipim_news+H.indd 1

16/03/2022 18:00

088_DIT_N3_PIM

Making homes happen

Supporting market disruptors and challenging the status quo Find out how we’re #MakingHomesHappen at the UK Pavilion. To understand the role Homes England plays in bringing Government and industry together join us in conversation at our session below. What are the investment opportunities in UK residential sector? Peter Freeman CBE, Chair Thursday 17 March 11:30am – 12:15pm UK Pavilion

Scan the QR code to see our full programme of partner sessions, or visit www.gov.uk/homes-england and join the conversation.

MIPIM Cannes 2022 News 240mm x 310mm Advert x3.indd 3

08/03/2022 16:11:07

CONTENTS 11 NEWS Keynote from Edouard Philippe; human-centric innovations; tourism bouncing back; high-tech futures; surging Saudi development opportunities; post-pandemic offices; retail on the rise; outlook for housing and more…

40 FEATURE MIPIM IN EVOLUTION Nicolas Kozubek, the new managing director of MIPIM Markets, discusses his vision for the future

54 CONFERENCE PROGRAMME All the session details, expert speakers, conferences and events, to help you plan your time at MIPIM and make the most of the latest research, insights and debate

CANNES SUPPORTS REFUGEES THE CITY LAUNCHES HUMANITARIAN INIATIVES

The City of Cannes, led by Mayor David Lisnard, has gathered resources to help the Ukranian people, including citizens of Cannes’ twin city, Lviv. To date, the city has sent 13 humanitarian trucks containing basic necessities and hygiene products and resources, in particular medical equipment, to locations including Lviv, Chortkiv, Sumy, Poltava, Kharkiv, Ternopil and Kyiv. A total of 115,000 products were dispatched by Cannes City Hall to support the population and refugees. Meanwhile, Ukrainian children welcomed by Cannes have already been enrolled in local schools. French courses are being given at the International College, for adults and children; and a variety of cultural workshops, including cooking classes, have been organised in the presence of translators. All in all, Cannes is doing its bit.

SPOTTED AT MIPIM The Mayor of Bodrum, Ahmet Aras, made his MIPIM debut to discuss opportunities in the port city and its tourism potential, after inaugurating the Istanbul pavilion

THE MIPIM NEWSROOM IS LOCATED NEXT TO THE ACCREDITATION AREA IN PALAIS -1

NEWS

Thursday 17 March 2022 www.mipim.com

DIRECTOR OF PUBLICATIONS Michel Filzi EDITORIAL DEPARTMENT Editor in Chief Isobel Lee Associate Editor Julian Newby Sub Editors Neil Churchman, Joanna Stephens Proof Reader Debbie Lincoln Reporters Adam Branson, Clive Bull, Ben Cooper, Mark Faithfull, Andy Fry, Liz Morrell, Nigel Willmott Editorial Management Boutique Editions Graphic Studio studioA Design Graphic Designers Harriet Palmer, Sunnie Newby Head of Photographers Yann Coatsaliou / 360 Media Photographers Eric Bonte, Frederic Dides, Patrick Frega, Phyrass Haidar, Olivier Houeix Management Boutique Editions PRODUCTION DEPARTMENT Publishing Director Martin Screpel Publishing Manager Amrane Lamiri Printer IAPCA, Le Muy (France). Advertising contact in Cannes Mylene Billon mylene.billon@rxglobal.com RX France, a French joint stock company with a capital of 90,000,000 euros, having its registered offices at 52 Quai de Dion Bouton 92800 Puteaux, France, registered with the Nanterre Trade and Companies Register under n°410 219 364 - VAT number: FR92 410 219 364. Contents © 2022, RX France Market Publications. Printed on PEFC certified paper All MIPIM print products are printed on paper from sustainably managed sources using printing processes that comply with the PEFC standard.

MIPIM NEWS 3 •

Daily 3_Contents+D.indd 1

• MARCH 17, 2022

16/03/2022 18:37

120_MAGNOLIA_N1 &amp;3_PIM

Magnolia Bostad is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. More information is available at magnoliabostad.se

The Health Think Tank brought together experts to discuss innovative strategies to provide better health and a greater quality of life in cities

All the action was happening in the Palais. From briefings on innovation to market insights, you talked, and we listened

The metaverse landed in Cannes on Wednesday with insights from Claire Balva of KPMG, Nicolas Joly of Groupe Casino and Tanguy Quero of JLL Spark

Proptech leader Joy Nazzari, founding director of leasing and sales digitisation platform Showhere, said her firm was already working with the likes of British Land and Argent Related MIPIM NEWS 3 •

Daily 3_p5+D.indd 1

Happiness By Design CEO Ahmed Elmoursy was at MIPIM to highlight his company’s happiness index, recently extended from offices into community living

In the Japan Lounge, a group of Japanese scholars presented fresh insights into maximising economic potential during a pandemic

• MARCH 17, 2022

16/03/2022 18:12

From business facilitators to deal-makers, Wednesday at MIPIM was all about maximising the event’s networking potential Metropole de Lyon delegates Martin Lardet, Raphaelle Jolly and Gaelle Desperrieir set out their city’s opportunities

Archigroup and Sorovim delegates Jean-Philippe Charon (left), Nathalie Barbot-Trompille, Ludivine Prenot-Cabon, Frank Dreidemie and Alexandre Girin exchanged ideas

MIPIM NEWS 3 •

Daily 3_p6+D.indd 1

Business was the order of the day for Sebastian Nitsch of 6B47 Real Estate (left) and Sandra Seldte of Wolf Theiss

From Inowai Group, Luxembourg; Morgan Mevel (left), Mohamed Boukattan and Melanie De Lima

Adam Brzostowski (left) and Marta Herezniak, from the City of Lodz, Poland, networked with Monika Suldecka-Karas of Knight Frank Poland

• MARCH 17, 2022

16/03/2022 18:12

091_COFECI_N1_PIM

Lorem ipsumDiscover A World of Opportunities

P -1 G2 CONSELHO FEDERAL DE CORRETORES DE IMÓVEIS

PA R A D I S E L I F E S T Y L E

MARAEY RIO DE JANEIRO

Maceió-Brazil

Presence in 12 States More than 27 Projects

www.taboadanegocios.com.br Rio de Janeiro PA R A D I S E L I F E S T Y L E

MARAEY

RIO DE JANEIRO

45Km away from downtown Rio de Janeiro 8,5 Km of pristine beaches 12 Km of lagoon shores Preservation of cultural heritage: Fishing Village and Local Communities

www.maraey.com São Paulo

Reserva Golf

Reserva Golf The Biggest Real Estate Development in Latin America www.ekkogroup.com.br

160_SCHINDLER_N3 Thursday_PIM.pdf

As a technology leader, Schindler has succeeded in developing the world’s first self-climbing, autonomous robotic system able to conduct installation work in an elevator shaft. Schindler Robotic Installation System for Elevators or Schindler R.I.S.E contributes to greater efficiency on high-rise construction sides while ensuring a quality installation. Want to find out more? Visit us at booth P-1.C 1 in Palais -1. We Elevate

MAN_MIPIM_2022_PrintAds_220310.indd 5

11.03.22 14:44

Austrian delegates Gabriele Etzl from Deloitte Legal, Karina Schunker from EHL Immobilien and OERAG Immobilien’s Elisa Stadlinger made the most of their time in the Palais

Olivia Cuir of Esprit Des Sens and Christophe Meunier of Metropole de Lyon were all smiles at MIPIM

Giovanna Della Posta, from Invimit 10 (left), Agenzia del Demanio’s Riccardo Pacini, with Invimit’s Pasquale Labianca and Sebastiano Parisi

Harriet Dannemann (left), from Hamburg Invest and Adler Group’s Gregor Brendel on the Hamburg stand City of Warsaw representatives Katarzyna Lysek (left), Grzegorz Kaczorowski and Malgorzata Dabkowska offered a warm welcome

MIPIM NEWS 3 •

Daily 3_p9+D.indd 1

• MARCH 17, 2022

16/03/2022 18:13

044_ARNOLD INVEST_N1_PIM www.arnold.investments

Stable Values in Prime Locations.

High-quality properties combine attractive potential returns and maximum security provided you have a partner by your side who, besides having an excellent portfolio, can also provide the necessary experience and local knowledge. Arnold Investments – in Austria, Germany, Spain, Italy, Portugal, the Czech Republic, Slovakia, Hungary and from 2022 also in Sweden and the Netherlands.

VISIT US AT STAND AUSTRIA

2022_UK_MIPIM_240x310_FIN.indd 1

R7.E2, RIVIERA HALL

10.02.22 15:02

news

Place your trust in the power of the city EDOUARD Philippe, mayor of Le Havre and former Prime Minister of France, invoked the genius of Zola and Tolstoy in his keynote speech to MIPIM delegates yesterday afternoon. In a wide-ranging address, in which he professed a deep love of cities, he expressed his view that the solution to issues such as the climate crisis lies with decision-making at the urban level. “We need to trust cities to deliver the solutions to many of our current problems,” Philippe said. “Cities, more than nations, can take decisions simply and with intensity, so we need to have confidence in their process of participatory democracy. It is cities that make many of the key decisions about construction, transport and population planning. My view is that public/private partnerships at city level can deliver radical and powerful transformations.”

“Public/private partnerships at city level can deliver radical and powerful transformations” Alongside trust, Philippe advised the real estate industry to show humility when it comes to planning the city of the future. “I am not saying we don’t need plans, but we can’t know for sure what will happen in the future. Predicting the future is complicated. As Le Havre learned in 1944, evolution can be brutal and abrupt. In a sense, we are taking a bet on what will happen. That’s why we need to approach this issue with modesty and a willingness to adapt.” With more than 80% of the French population living in cities, Philippe declared himself a committed urbanite, more comfortable in major conurbations than anywhere else. “I love the exchange of business and intellect in urban places,” he added. “But as Tolstoy observed in War And Peace, cities are more than just their physical elements. There is a powerful and immaterial element to cities that goes beyond churches, houses, offices and so on.” During his career, Philippe shifted from being a socialist to a centre-right politician, so it was perhaps not surprising that he used his keynote to express his impatience with red tape: “There are too many rules. I’d like to see a softer approach with fewer standards and less process. I think we need to trust innovation and technology to provide us with answers.”

MIPIM NEWS 3 • 11 • MARCH 17, 2022

Daily 2_P11+D.indd 1

16/03/2022 17:56

149_RM AWARDS_N2_PIM

THURSDAY 17 MARCH 2022 FROM 18.30 GRAND AUDITORIUM, PALAIS DES FESTIVALS

\ MIPIM AWARDS CEREMONY

DON’T FORGET TO VOTE ONSITE FOR YOUR FAVORITE PROJECT! RENDEZ-VOUS AT THE AWARDS GALLERY OPEN UNTIL THURSDAY 17 MARCH, NOON!

awards_240x310.indd 1

FOLLOWED BY A COCKTAIL RECEPTION OPEN TO ALL PARTICIPANTS

09/03/2022 12:44

news

ESG has gone mainstream ‘for the simple reason there’s no Planet B’ DIVERSITY and youth are not just values to be paid lip-service, for Walid Goudiard, JLL’s head of project and development services, EMEA. “The most advanced people on ESG are people at the start of their careers, in their twenties, who fully understand what these things mean,” Goudiard said. “They are the ones driving the change.”

He believes the industry has passed the tipping point and that ESG values have moved from promotion by experts, journalists and lobby groups into the mainstream of the real estate industry. One example of these values in JLL’s portfolio is the Tour Emblem in Paris’ La Defense business district, which aims to reuse as much of the existing material

JLL’s Walid Goudiard

as possible, following a complete audit of the building. A key factor in delivering the new approach is collaboration, Goudiard said, with the end user and the relevant local authority, in particular. “Paris has a very bold policy on ESG — you cannot demolish anything. We have to break down the silos in development. It’s all about change management.” But there is also a balance to be struck. The new “frugality” about re-using what is already there can be in conflict with the desire to create new hybrid workspaces, for instance. But ESG values will prevail because they are now embedded at the investor level, Goudiard said. He then told the story of a big global investor being informed by a client that he wanted to be seen as being “ahead of the game” on ESG. The frosty reply from the investor was they would do it for the simple reason there is no Planet B.

A Gateway for international investors

HGAR’s Anthony Domathoti

THE NEW York City and New York State areas covered by the Hudson Gateway Association of Realtors (HGAR) are looking to build on their reputation as a biotech and bio-medical hub. HGAR president Anthony Domathoti, who is at MIPIM to showcase international investment opportunities in the area, said the association provides potential investors with local knowledge in terms of development opportunities, rules, regulations and possible tariff benefits for overseas investors. Citing pharmaceutical giant Regeneron’s decision to expand its New York campus with a $1.8bn investment, Domathoti added:

“The aim is to quadruple inward investment over the next decade. We are here at MIPIM for the first time but our intention is to come back every year over the long term.” Domathoti said that HGAR also hoped to help local and state government attract technology businesses and other manufacturing industries, especially the automotive sector, which is under-represented along the eastern seaboard. “The area has a great transport infrastructure, including highways and mass-transit systems, and it’s already an attractive prospect, but our job is to engage, enable and empower investors,” Domathoti added.

NREP pledges to go ‘beyond energy efficiency’ THE PROPERTY industry was ignorant of the realities of the climate crisis and its own carbon emissions for too long, according to a partner at a major Danish investor and developer. Gustaf Lilliehook, partner at NREP, which is working to an ambitious net-zero carbon target, said: “We have all been quite ignorant about this. We have lacked awareness of the simple materiality of climate change.” In October 2021, NREP pledged to achieve carbon neutrality across its operations and assets, without offsets, by 2028. That commitment entails both the company’s operational and embodied carbon — a distinction that Lilliehook said is important in understanding the way carbon

NREP’s Gustaf Lilliehook

is produced by real estate and construction. “At NREP, we’ve tried to go beyond energy efficiency,” he added. “The exponential nature of that change is very evident now.” In accordance with guidance from the Carbon Risk Real Estate Monitor (CRREM) system, NREP aims to cut the amount of upfront embodied carbon in all new-build projects by 33% compared with 2020 levels, and reduce operational carbon emissions by at least 50% in the same period.

MIPIM NEWS 3 • 13 • MARCH 17, 2022

Daily 3_p13+D.indd 1

16/03/2022 17:58

067_SCOTTISH_N1_PIM_page1_dos piqué

Choose Scotland’s new home of manufacturing innovation. Advanced Manufacturing Innovation District Scotland (AMIDS) • Home to two new world-class innovation centres, the National Manufacturing Institute Scotland and the Medicines Manufacturing Innovation Centre, CPI. • World-class high-value manufacturing businesses already based in the district. • Adjacent to Glasgow Airport and only 8 miles from Glasgow city centre • Key strategic site in Scotland’s manufacturing and green investment portfolios. • Site owner Renfrewshire Council is actively seeking Joint Venture partner to develop district

Find out more from Scottish Development International at www.sdi.co.uk/amids

067_SCOTTISH_N1_PIM_page2_dos piqué

135_LEXIS_N1a3_PIM

#EGatMIPIM2022

at MIPIM 2022

AGENDA

15th - 16th March 2022 Cannes, France | Salon Croisette LEADING THE UK TO A SUSTAINABLE FUTURE Tuesday 15th - Day 1 09:30 – 09:40 Welcome 09:40 – 10:10 Panel: The UK life sciences vision: Innovation opportunities 10:45 – 11:15 Panel: The future of the office: Is remote work a threat to office space? 11:30 – 12:00 Talk: Data-smart decisions: How EG informs investment decisions 14.00 – 14.30 Panel: Building lasting income streams through BTR

Wednesday - Day 2 09:00 – 09:15 Welcome 09:15 – 10:15 Panel: On the outside looking in: International investment on the value UK cities 10:45 – 11:15 Panel: Keeping big brands in big cities 11:45 – 12:15 Panel: Does levelling up risk levelling down London? 14.00 – 14.30 Panel: ESG as a value driver

In partnership with

news

Skanska targets sustainability and ethical business strategy FOR KATARZYNA Zawodna-Bijoch, CEO of Skanska’s commercial development unit in CEE, the pandemic has accelerated a lot of

trends. “Most importantly, it has boosted ESG [environmental, social and governance] financing, which is now only available for

Skanska’s Katarzyna Zawodna-Bijoch

SIOR opens world’s doors for 3,600 global members THE SOCIETY of Industrial and Office Realtors (SIOR) is a global organisation with around 3,600 members in almost 50 countries. This week, CEO Robert Thornburgh and president Patrick Sentner are at MIPIM to make sure the association continues to meet the needs of its commercial real estate cohort. “We have 48 chapters around the world,” Sentner said, “but not all have the same level of penetration, so we want to make sure our members have the same coverage wherever they go. For example, more and more North American companies are establishing a presence in Europe — and might be looking to a fellow SIOR member to help them

take care of clients.” Members of SIOR must meet exacting standards in terms of length of tenure, volume of business and ethics. And that’s all on top of the membership fee. Explaining the benefits, Thornburgh said: “There’s no question SIOR membership can create business opportunities, but what SIOR really offers is calibre of people and quality of information. It’s about idea-sharing.” In addition to its international drive, Sentner said SIOR is also conscious of the industry’s need to attract younger recruits. For its part, the organisation has created a new associate-member level for those who have not yet clocked up enough years in the industry.

projects that can show they are future-proof,” she said. ESG will be less of a challenge for Skanska, one of the world’s largest construction companies, than for many companies. Skanska, with its Nordic roots, has long been used to a social-responsibility model. “We started very early, in the late 1990s, measuring our environmental and energy impacts,” Zawodna-Bijoch said. The company itself aims to be carbon neutral by 2046, including embodied carbon, and by 2030 across its operations, representing a 46% reduction on 2015. It also works with clients to push innovative technologies, such as flexible photovoltaic thin-layer solar panels that can coat an entire building and are transparent enough to put over windows, allowing the whole building to generate green energy.

Skanska invests significantly in R&D, Zawodna-Bijoch said. It is also working on the use of “green concrete”, a more efficient production of cement, which is currently an energy-intensive process. She pointed to a project in Warsaw that uses the new technologies, which she hopes can be scaled up for bigger projects. In social, Skanska is taking a lead in making building more accessible for people with disabilities, including setting up access audits, researching different materials for surfaces and fabrics, and improving signage. Having Nordic roots, Skanska already ticks boxes when to comes to governance: recognising trade unions, establishing codes of conduct for the company and its suppliers, and providing ethical training and client check-ups. “We have very high business values and never go into the grey zone,” Zawodna-Bijoch said. “We left Russia in 2008 because it was no longer possible to do business in an ethical way.”

Thornburgh believes COVID “brought the membership closer together”, despite that fact that people could not meet in person. But both execs are glad to be back on the physical-event circuit. In terms its own events, Sentner

said: “We have TransACT 360 coming up in Phoenix and CREate 360 in Dallas in the fall. We’re also excited about our Dublin conference, which takes place in July. That’s been postponed twice, so we’re really looking forward to it.”

SIOR’s Robert Thornburgh (left) and Patrick Sentner

MIPIM NEWS 3 • 17 • MARCH 17, 2022

Daily 3_P17+D.indd 1

16/03/2022 18:23

043_I ZEITUNG_N3_PIM

A Frankfurt ‘Omniturm’ for € 677 million? DID YOU KNOW?

VISIT US! Riviera Hall R7.F19 or R7.G20

The Omniturm Frankfurt has a current market value of € 677.3 million and generates annual rental income of approx. € 25 million. With a total area of 54,288 m2 and 45 ﬂoors, the skyscraper is considered to be an addition for the Frankfurt skyline. Facts (e.g. tenants, sellers, agents, purchase prices, values) on 510+ comparable properties since February 2018 in Frankfurt you will ﬁnd in the Properties application.*

IZ PROPERTIES

ANALYSIS TOOL FOR COMMERCIAL REAL ESTATE AND INVESTMENT PROPERTIES Access to 32,000+ real estate properties in Germany, of which 10,800+ properties with purchase and/or rental prices and 2,500+ with yields. Request free trial access. immediately.

* Query in IZ Properties on 20/03/06 with the ﬁlters ’Building Type: Oﬃce and period ’03/18-03/20’

www.iz-research.com

news

Sectors ‘are being redefined by a decade of uncertainty’

CBRE’s Chris Brett

SHOPPING and living trends of the past decade have led to a permanent separation between the logistics and industrial sectors, with a “new sector” being created in the process, according

to a senior leader at CBRE. Speaking during MIPIM, Chris Brett, head of EMEA Capital Markets at CBRE, said that changes to the way people shop online in particular have

led to a “bifurcation” of the industrial and logistics sectors, with the latter having become, in effect, a new asset class in the process. He said: “It’s come out of ecommerce. It’s created a very different asset with a different income stream. Now it’s logistics and industrial. They’ve gone separate ways.” Brett said the change in logistics is one of a number of paradigm shifts due to major political and economic events of the past decade, all of which have led investors to seek more certainty over yields and attracted new capital to real estate. “There’s been a flight to safety. Real estate is not immune to world events, whether it’s Brexit, interest rates, or inflation. Investors need yield and more certainty. Property has become safer and more productive than stocks, bonds and shares. As a result we’ve seen new capital coming in.” He added that the same shifts in ecommerce and changing attitudes to residential ownership have led to more intersections and interactions between the various sectors of property than in previous years: “There’s definitely more interconnectivity between residential, logistics and retail than there was 10 years ago,” he said.

Flexibility is crucial as hybrid working reshapes market DEMAND for flexible office space has exploded as hybrid working becomes commonplace, and the market has changed for good, according to Mark Dixon, founder and CEO of workspace network IWG. “Hybrid working is here,” he said. “The world of work is changing, driven mostly by the workers themselves.” He said IWG would open 1,000 new

locations this year, more than three times the level pre-COVID. He said the interest was the highest he’d ever seen at MIPIM and marked an about-turn of the market. “Two years ago we had to explain [our concept] to people. Now everyone is used to hybrid working. From being in the exotic end of the property market we are now mainstream.

IWG’s Mark Dixon

The level of interest is high and the property market can understand there’s been a change and it’s no longer business as usual.”

Retail is on the rise following COVID chaos THERE are still significant opportunities to be found in retail, despite the rise of ecommerce and the widespread shutdown of shops during the pandemic, according to Xavier Musseau, president of Hines France. Musseau said the developer and investment manager

Hines’ Xavier Musseau

was looking at how to reinvent the office following the pandemic and was “very focused” on logistics. However, he also singled out retail as a key part of Hines’ strategy in 2022. “We think it’s time to look at the high street,” he said. “The last two years have been difficult, but we think [there are opportunities] in prime locations — even more prime than used to be the case. “What we have seen in recent months is that all the assets we have are full. Luxury brands are repositioning into the best locations so that when everything recovers, they are better located than they were before COVID-19.” Musseau added: “Nobody has been talking about retail for two years, but its moment will come. We don’t think there is any reason to say retail is dead. I think there are some real opportunities in retail.”

MIPIM NEWS 3 • 19 • MARCH 17, 2022

Daily 2_p19+D.indd 1

16/03/2022 17:36

079 droite_FIGARO_N3_PIM

Le luxe est la partie brillante de la réussite © Rudy Salin

news

Invest Saudi seeks partners to realise development ambitions SAUDI Arabia’s nationwide investment organisation, Invest Saudi, is at MIPIM for the first time to seek partners for what is shaping up as

the 21st century’s biggest construction and development programme. Speaking to the MIPIM News, the Ministry of Investment’s real estate

Saudi Arabia Ministry of Investment’s Fahad Mansour Alhashem

managing director Fahad Mansour Alhashem said: “We are looking for international partners across the entire real estate value chain. The opportunities to work with public and private partners within Saudi Arabia have never been more substantial.” Some Saudi initiatives are well documented, such as the Red Sea Project, which is all about attracting international tourists. But Alhashem said the range of opportunities spreads across multiple projects: “We are engaged in some major residential developments. For example, the government wants to increase home ownership to 70% as part of its Vision 2030 strategy and a lot of the investment is coming from public-private partnerships.” The opportunities also extend into commercial and leisure areas. “We have a young population that is

Property needed to support Riyadh’s surging population SAUDI Arabian capital Riyadh is expected to double in population between now and 2030, to reach 15 million people, requiring a huge investment in property and infrastructure to support the city’s rapid expansion, said Ahmed Alotieshan, director of real estate development, The Royal Commission for Riyadh City (RCRC). RCRC is at the Saudi pavilion at MIPIM to showcase the opportunities available in Riyadh as it acts as the co-ordinating body for a hugely ambitious schedule of development, which includes a new metro system with six lines and 85 metro stations spread across 176km of tracks. “There is huge potential for real

estate development,” Alotieshan said. “And that is across all asset classes, including offices, retail,

residential and logistics. We also have a massive project to green the city, planting 7.5 million trees and

The Royal Commission for Riyadh City’s Ahmed Alotieshan

looking for new ways to be entertained,” Alhashem said. And with the petrochemical giant pledging to be net zero by 2060, “there is also a huge drive towards renewables and sustainable energy”. While capital city Riyadh is a focal point, Alhashem said the Red Sea Project is just one illustration of how Saudi’s regeneration is a nationwide initiative. Another focus is the border with Jordan and Egypt, where there are plans for a smart city called Neom, which will serve as a hub for the energy, water, biotech, food, advanced manufacturing and entertainment industries. Alhashem said the Kingdom is going out of its way to attract international firms: “Property ownership laws are currently being reformed to make it easier for non-Saudi Arabian citizens to own real estate. We have also brought a wide range of experts to Cannes, including regulators, sovereign wealth fund developers, city officials and private-sector companies. We want MIPIM delegates to know there is a new era of openness in doing business.”

installing one of the largest irrigation systems in the world.” The city authorities are also putting other sustainability initiatives at the heart of the expansion plans, prioritising re-use of water and creating new recycling and waste reduction solutions, while the scale of ongoing redevelopment already makes the real estate sector the second largest contributor to the city’s GDP. Another element of Riyadh’s development is the planned installation of around 1,000 public artworks to make the city “an open-air gallery”, he said, which will be supported by plans for 10 further art projects and two annual art festivals as the city targets 42 million tourist visits a year by 2030. “Our role here is to bring all the stakeholders together and to coordinate and deliver on the key performance indicators, ensuring that we meet the future vision for Riyadh,” Alotieshan said.

MIPIM NEWS 3 • 21 • MARCH 17, 2022

Daily 2_p21+D.indd 1

16/03/2022 17:37

122_Heuer Dialog_N2et 3_PIM

heuer-dialog.de

THE NETWORKING SPECIALIST Conferences for real estate decision-makers

 More than 50 live and virtual events per year: get in contact with German decision-makers , Berlin  Annual kick-off conference  New trends and business models Retail, office, logistics, hospitality, housing, family office, corporate real estate management

 Professionals, visionaries and open-minded thinkers from all sectors of the real estate industry

 Business matching

VISIT US! F19 Riviera Hall R7

JOIN THE REAL ESTATE NETWORK IN GERMANY

In association with

QV2022 Anz MipimNews_240x310_220127.indd 1

27.01.22 15:23

news

Smart city contenders set out visions of a high-tech future JAPAN and Singapore both staked their claims as market leader in smart city know-how and technology at the conference session Focus On Asia: Asian Smart City Initiatives. As if to underline the trend, Sinichi Goto, director at City Bureau’s general affairs division, gave his presentation via a video link. He described how Japan is using simulations and 3D modelling to “map the new world” of digital cities. The aim was to develop urban areas — such as Koshiwanoha Smart City, set up after the 2016 earthquake — which meet targets on the environment, energy conservation, disaster prevention, security, healthcare, transport and mobility. Yap Chin Siang, deputy CEO of the Singapore Tourist Board, said that Singapore was at the forefront of the smart city movement and equally a “smart nation”. Its latest big project is the Jurong Lake District, which aims to build its centralised digital infrastruc-

Daiwa House Europe’s Kazuya Sawamoto

ture underground, underpinning the creation of 100,000 jobs and 20,000 homes. It also aims to integrate tourism into the development. Singapore is developing both virtual reality and augmented reality projects to enhance the tourist experience and push the country towards its aim of becoming a mass visitor destination. Kazuya Sawamoto, director and CEO

Keep citizens in the loop CREATING cities for citizens relies on ensuring they are involved in the process, but that may not always be willingly, according to a panel discussion, Cities For Citizens, held at MIPIM on Tuesday. “You can’t build the city of tomorrow without involving citizens,” said Guillemette Colombe, head of consultations at Make.org. “It’s really important to include them in local projects to make them succeed. It’s an opportunity and they really want to be part of it. Citizens are motivated by this topic and if you include citizens then you make better decisions,” she said. However, Pascal Smet, secretary of state of the Brussels-Capital region, said that sometimes it was about “making people happy against their

will”. By that he meant that citizens can often be resistant to initiatives that they later embrace. He highlighted a pedestrianisation project in Brussels. “At first people were against it but we believed that air quality is important and also wanted to restore the core function of a city — that of human interaction.” Initial resistance

Singapore Tourist Board’s Yap Chin Siang

of Daiwa House Europe, described how Daiwa was bringing its factory-built homes to Europe, a method which is both faster and more efficient than traditional on-site building. He gave the example of a 65-home development in Harumidai in Japan, which is 110% energy sufficient, but also centralises solar electricity generation to equalise the different capabilities of individual homes.

transformed into people embracing the project when it went live, he said. Kim Herforth Nielsen, founder and creative director at 3XN/GXN Architects, said it was important to think of the future. “We must future-proof for resilience when designing,” he said. But the people element was vital, he added:. “We design for people. When the people are happy that’s when we have success.”

3XN/GXN Architects’ Kim Herforth Nielsen (left); Madrid’s deputy mayor, Begona Sanchez; secretary of state of the Brussels-Capital region, Pascal Smet; Make.org’s Guillemette Colombe; and mayor of Lyon, Gregory Doucet.

Rising to the challenges of sustainability SPREADING the word on sustainability is a key mission for Stephane Villemain, vice-president corporate social responsibility, Ivanhoe Cambridge. “We are really here to identify how we can collaborate with our peers to further progress on ambitious ESG goals that we have now set,” he said. “We firmly believe that if we want the industry to tackle these environmental and social challenges we need to look at how the governance is set up within the value chain. That’s a concept we want to publicise so that as an industry we align how each player in the value chain is incentivised and make sure

Ivanhoe Cambridge’s Stephane Villemain

this is in keeping with the ESG intentions so that we can walk the talk.” On the impact of the pandemic Villemain said: “When we talk about ESG, the S factor has moved up a fair bit. Wellness, health and safety obviously, but also the rise of social inequalities and the role that investors — including real estate — have to play to contribute to solving those societal challenges.”

MIPIM NEWS 3 • 23 • MARCH 17, 2022

Daily 3_p23+D.indd 1

16/03/2022 17:38

129_PERE_N1a3_PIM

1/3

2/5

1/2

Comprehensive coverage of the world’s private real estate capital markets

3/5

2/3

Award-winning insights of industry developments & GP/LP relationships

In-depth analysis & research of the private real estate market

Deep dives & commentary on the RE investing landscape, with funds in market & activity 5/6

Find out more

www.perenews.com

news

Volatile energy markets could accelerate net-zero strategies ronment due to its impact on energy costs, according to Philip La Pierre, head of Europe at LaSalle.

Speaking on Tuesday, La Pierre expressed his horror at the situation, but said it would also focus minds on making buildings as energy efficient as possible. “As horrible as it sounds, the fact is that there is a full-blown crisis out there and the impact at the moment is really around inflationary pressures,” he said. “And what does that do? It helps us to continue with our strategy of net-zero carbon. It’s another accelerator. COVID-19 was one; this is another one. You want to reduce that consumption, not just to be able to contribute, but because your tenants don’t want to pay the same amount.” More broadly, La Pierre said he felt that the real estate industry had now accepted the importance of

having robust environmental, social and governance (ESG) strategies, but that it now needed to move beyond rhetoric. “The industry has accepted the need, but what do we do with that now?” he said. “Where do we go from here? Collecting data and auditing your buildings, auditing them on their carbon consumption, [is essential]. And then it’s about layering on the retrofits and all the necessary measures to get carbon right down.” La Pierre added that property owners would need to take some risks in order to find the right sustainable solutions — and that investors would need to accept that: “Investors need to accept it might cost a bit in terms of performance, so we’ll see if they all put their money where their mouths are this time around. We’re throwing everything at it to come to a point where we can balance performance and contribution.”

Post-pandemic London showcases its resilience

changed how our office looks and feels to attract people back in and demonstrate the benefit of coming in to London to work and engage with colleagues. But I don’t think we’re going to go back to full-time working in the office again, which I think is a big shock for people of our generation.” Cushman & Wakefield’s (C&W) Andrew Hawkins spoke about the attractiveness of London to many

of the largest tech companies, including Meta, Apple, Microsoft and Amazon. “I can tell you that those major global titans of tech really only want to grow in probably one or two locations around the world and London is right at the top of that list. And the reason why London is at the top of that list is fundamentally about the engineers — it’s about where the talent wants to work.”

THE CRISIS in Ukraine could prove to be a key driver in reducing carbon emissions in the built envi-

LaSalle’s Philip La Pierre

AT THE London stand yesterday, Investing In The UK and London In 2022 provided an insight into the impact of the pandemic, Brexit and climate change, with a focus on London’s resilience as a capital. Keynote speaker Ilaria Regondi, deputy trade commissioner for Europe and country director for France at the UK’s Department for International Trade (DTI), was upbeat about London’s recovery. “London’s property market has bounced back really strongly from the pandemic and is flourishing once again,” she said. “Whether it be the regeneration of Southwark by the side of the Thames, where thousands of new homes and leisure zones are being constructed, or the multi-billion-pound redevelopment of Euston train station around which a new neighbourhood is being created, there are new op-

portunities for carbon-neutral and affordable housing and office space.” PGIM Real Estate’s Charles Crowe said work-from-home has had a significant impact on the office sector: “In London, we’ve

DTI’s Ilaria Regondi: strong London bounce back

PGIM’s Charles Crowe: end of full-time office working?

C& W’s Andrew Hawkins: “where talent wants to work”

MIPIM NEWS 3 • 25 • MARCH 17, 2022

Daily 3_p25+D.indd 1

16/03/2022 17:39

177_CBRE_N3_PIM

CBRE Real Estate Investment Banking

Realising potential in every dimension

€50B

M&A, Public Capital Markets, JVs, Fund Placement, Recapitalisations

Global Real Estate Investment Banking transactions in 2021

CBRE offers clients a unique combination of deep real estate knowledge, global institutional investor distribution and advisory expertise across the spectrum of real estate investment banking activities.

€9.1B Residential

c. £1B Residential

£650M Residential

€640M Office

£359M Healthcare

Financial and real estate advisor to Akelius on the sale of its Nordic and German platforms to Heimstaden.

Financial and real estate advisor to Moda Living on the formation of a programmatic JV with KKR.

Placement agent on the primary raise for Long Harbour from Cadillac Fairview and PSP.

Financial and real estate advisor to Blackstone and Brunswick on the sale of Kielo, a Finnish office platform to Castellum.

Placement agent for Octopus Healthcare Fund a perpetual fund focused on elderly/specialist care units in the UK.

Largest cross border residential deal in Europe.

JV to become the leading BTR player in the UK.

Creation of a £1.5 billion UK BTR platform.

Largest office transaction in the Nordics post-covid.

Leading healthcare fund in the UK.

SAUDEINVESTE €450M Residential

€213M Healthcare

Confidential Lodging

€200M Healthcare

€150M Residential

Financial and real estate advisor to Castlelake on the sale of BoStad A/S, a Danish residential platform to AP Pension.

Financial and real estate advisor to Fidelidade on the sale of the Saudeinveste fund, owner of four hospital units to Icade Santé.

Financial and real estate advisor to the shareholders of Bluserena SpA (leading Italian Hotel Operator with 4,300 rooms under management) on its sale to Azora.

Financial and real estate advisor to Domus Vi’s on the acquisition of Trinity Care, one of Ireland’s leading nursing home operators.

Placement agent for Catella European Residential Fund III, with a total equity committed of more than €1 billion.

The most significant hotel transaction in Italy in 2021.

First acquisition of Domus Vi in Ireland.

One of the biggest residential funds in Europe.

Largest CRE transaction in Denmark in 2021.

Largest healthcare real estate transaction ever in Portugal.

cbre.com/investmentbanking Come and visit us at the Majestic Beach Restaurant, Location C17.A

42015700_New Ad MIPIM-REIB v8.indd 1

16/03/2022 11:23

news

Booming Leipzig looks to lure cutting-edge industries to city THE PROTESTS that led to the peaceful revolution in Germany began in Leipzig, but it suffered badly from the aftermath of unification. “The 1990s were hard, but now we are growing like hell,” was how Clemens Schulke, the city’s acting head of economic development, put it. The population figures tell the story. In 1989 the city had 530,00 resi-

dents. This figure fell to 435,000 in 1998, before rising again to 610,000 in 2021. The recovery began with the setting up of a Porsche assembly plant — “They just put on the tyres and the badge” — which has grown into a full production plant which will produce the Macan electric compact SUV from 2023. The electric BMW Mini is also coming to town — a result of

City of Leipzig’s Clemens Schulke

Brexit, according to Schulke, along with the establishment of a full faculty of the UK’s University of Lancaster. This defines the kind of investors the city is seeking for three sites in the city: R&D-led, in cutting-edge industries. The first site of 100 hectares between the Porsche plant and the airport, has excellent transport links by air, rail and road. The second is TechPark Leipzig, six kilometres from the city centre, which offers 13 hectares for research, development and production, particularly for energy-based projects. The third is The BioCity Campus near the city centre, looking for pharma investments, particularly in cell-therapy and personalised medicine. Schulke saw MIPIM as a great opportunity to meet people again in person after years of sessions on Teams, but also to exchange views and share visions with other similar cities at the market.

Tourism sector bounces back TOURISM and leisure are showing signs of strong growth with bookings approaching pre-pandemic levels, an industry expert has said. Sylvie Bergeret, chief operating officer of tourism insights and research firm MKG, which produces feasibility studies for clients including real estate developers, said there were strong signs of a recovery particularly in the high end of the market. “Last year there were much better performances, notably in the countries with huge domestic markets such as France,” she said. “Performances are still below 2019 levels, but in some cases are in-

creasing. We are really confident in the comeback of the international clientele which is the main feeder market for upscale hotels. “Some people are coming back with a vengeance. They want to travel, they want to meet people that they couldn’t do during the pandemic.” MKG is in Cannes to share insights and meet potential news clients keen to capitalise on a resurgence in holiday and business travel. The firm analyses leisure, hotel and tourism data in various formats, including volumes of hotel reservations, allowing it to compile information about wider travel trends.

Why the working week won’t work post-pandemic WORKERS are unlikely to return to the office five days a week any time soon as the legacy of the pandemic continues to be felt. That was the key message from a panel of DWF’s Melanie Williams

senior industry leaders on the first day of MIPIM. Melanie Williams, partner and head of real estate at law firm DWF, described the situation at her company. “We were aiming for two to three days a week,” she said. “It wasn’t a prescriptive thing but there was a kind of moral pressure, trying to encourage leaders to do that so that hopefully the other staff would follow suit. It’s a complicated situation and there is a lot of psychology involved. We’ve got to be understanding.” James Lowery, CEO, UK and Europe, at proptech firm essensys, agreed. “It’s important to set boundaries and give people guidance, but it’s important not to say ‘you must come in Tuesday, Wednesday and Thursday’,” he said. “It just doesn’t work. In the last couple of years, people have found a different rhythm and trying to unpick that could be extremely detrimental.”

MKG’s Sylvie Bergeret

MIPIM NEWS 3 • 27 • MARCH 17, 2022

Daily 3_p27+D.indd 1

16/03/2022 15:04

155_BUSINESS IMM_N3_PIM

Unlimited acces to all real estate news

Unlimited acces to all real estate news •

Businessimmo.eu

•

Bi Premium articles

•

Business Immo Global Magazine digital and print

•

Breaking news 15 minutes before everyone else

•

Business Immo directory

•

Discount on selected events and trainings

•

Studies, Transactions, Data (iread)

business immo group www.businessimmo.com

news

Eurofund Group buys Silverburn and ramps up business in the UK MADRID-based Eurofund Group acquired the Silverburn shopping centre in Glasgow, Scotland from Hammerson on Tuesday, in the first major retail deal in the UK for the Iberian retail resort specialist. The £140m (€166m) purchase is Eurofund’s first since it established a UK office late last year to look for investment opportunities for major shopping centres around Britain, with a view to introducing its resort model, pioneered at Puerto Venecia, Zaragoza, to the country. Eurofund Group president Ian Sandford said of the move: “Silverburn represents a fantastic opportunity to showcase what we can do in the UK. We want to bring what we have learned from our shopping-centre projects in continental Europe and we really believe that the UK retail market offers some of the best opportunities in Europe.”

While Eurofund is mainly active in Spain, Portugal and Italy, Sandford remains convinced that there is a positive future for retail-led UK schemes.

In October, Eurofund opened a London office headed by former Unibail-Rodamco-Westfield (URW) development director and country

Eurofund Group’s Ian Sandford

DFI teams up with Cells for Berlin Grand Hotel The Sheraton Berlin Grand Hotel Esplanade

PAN-EUROPEAN private equity real estate investor Deutsche Finance International (DFI) has acquired the 32,000 sq m Sheraton Berlin Grand Hotel Esplanade from Archer Hotel Capital and Event Hotels, in partnership with Cells Group, the German real estate development, asset management and investment company. DFI said that the acquisition presents an opportunity to unlock embedded value through a series of asset management initiatives. The partners plan to improve and reposition the property, creating a mixed-use destination comprising offices and new food and beverage outlets, alongside an upgraded hotel. The 394-key five-star hotel is situated near Grosser Tiergarten in Mitte, close to the embassy quarter and opposite the Bauhaus Archive. The district is home to many large international and domestic companies, as well as important political

manager Alberto Esguevillas, with Emma Hindes, also a former URW executive, as chief operating officer. Mike Rhydderch, most recently managing director of EastDil Secure, is acting as a senior investment advisor at group level. In Europe, Eurofund also operates The Hood — a community-focused neighbourhood concept — with a first site having opened in Ubbo, Lisbon in 2020 in a scheme that Sandford said is trading strongly following the opening of a Marvel Mission escape room, plus a Neon family entertainment centre operated by Al Hokair scheduled for July. Sandford said that the company would be looking to bring The Hood concept to Silverburn. Away from retail, Eurofund has redeveloped student accommodation in Kingston, near London, for its co-living format Tribu, which is due to open in mid-May and is already fully let. “We see huge opportunities in what I would call ‘community living’ and we are actively looking at senior living, especially in Spain,” Sandford said.

institutions and a significant number of restaurants, bars, shops and other amenities. Daniel Filser, head of German investments at DFI, said: “Berlin is one of Europe’s most exciting and fastest growing cities. We expect the property to benefit from both the post-pandemic recovery and the city’s continued emergence as an international business hub and one of Europe’s most liquid real estate markets.” Dirk Ruppert, partner and chief investment officer at Cells Group, added: “Located in the very heart of Berlin, this asset presents a number of exciting opportunities to enhance its offering and maximise its potential, while ensuring that hospitality continues to play a major role given the popularity of this well-located hotel. We will look to appoint a world-class architect to assess our options while, in the meantime, continuing hotel operations.”

MIPIM NEWS 3 • 29 • MARCH 17, 2022

Daily 2_p29+D.indd 1

16/03/2022 10:52

126_LIVERPOOL_N3_PIM_page1_dos piqué

Liverpool City Region: The UK’s Renewable Energy Coast with the power to deliver Net Zero by 2040 The Liverpool City Region has long been a pioneering location, reacting to global challenges and opportunities. It established the world’s first commercial wet dock in 1715, and in 1898 founded Liverpool School of Tropical Medicine (LSTM), the first institution in the world dedicated to research and teaching in the field of tropical medicine – massively influencing global trade and global health. When it comes to climate change, the City Region, led by the Mayor of Liverpool City Region Steve Rotheram, became the first in the UK to declare a climate change emergency back in 2019 and collectively committed to reaching Net Zero Carbon by 2040 - a decade ahead of the national target. And it is ideally situated to achieve this, harnessing the unique natural resources of its UK west-facing port location, together with an entrepreneurial spirit that innovates and reinvents to create a way forward to tackle the challenge. There is a £3bn+ pipeline of investment-ready innovation projects

to foster growth and investment across key growth sectors that are centred around co-creating new approaches, expanding successful innovation programmes, delivering transformational R&D projects, and radically increasing innovation impacts. With the implementation of a targeted investment programme in major capital investments and R&D, the City Region has become the UK’s renewable energy coast, building on existing strengths and natural assets. Offshore wind in Liverpool Bay has already helped to make the UK the largest producer of wind power in Europe, and production is set to triple by 2032 with expansion into two new fields.

The tidal range of the River Mersey and Liverpool Bay has given the Liverpool City Region the opportunity to create the Mersey Tidal Power Project. This low-carbon electricity generation project could create 5000 jobs, while producing enough energy to power a million homes. And it will be able to create clean, green, predictable power for more than a hundred years. The Liverpool City Region has a number of projects and assets to help reach Net Zero Carbon by 2040, which are: HyNet North West has committed a £72m investment in the Liverpool City Region towards transforming the region into one of the world’s first low carbon industrial clusters. The HyNet

KEY FACTS The largest concentration of off-shore wind farms in the UK, installed, maintained and managed from the City Region Major expansion into 2 new offshore fields for installation in the next 5 years, providing a further 3 GW of energy The UK’s most advanced Tidal Energy Scheme with the potential to deliver clean, predictable energy for the next 125 years. HyNet North West will produce hydrogen to replace fossil fuels in transport, industry and homes while also capturing and storing carbon dioxide produced by energy-intensive industry One of just two carbon capture, usage and storage schemes nationally to be selected for further development by government Glass Futures aligns global industry with world leading academics to eliminate CO2 from glass production in St Helens. A globally unique open-access R&D facility, it will bridge the gap between research and full commercial implementation of sustainable glass manufacturing LCR’s Hydrogen Economy Programme placing the region at the forefront of global hydrogen applications in transport and power The National Packaging Innovation Centre plans to double the current UK global sustainable packaging market by 2030

126_LIVERPOOL_N3_PIM_page2_dos piqué

programme is one of just two carbon capture, usage and storage schemes nationally to be selected for further development by government and will produce hydrogen to replace fossil fuels in transport, industry and homes, while also capturing and storing carbon dioxide produced by energy-intensive industry. The far-reaching project includes a world first trial with international glass manufacturer NSG Pilkington to produce float (sheet) glass using hydrogen at its St Helen’s plant in the Liverpool City Region. Glass Futures is bringing together global players with world leading academic minds to eliminate CO2 from glass production via a new cluster in St Helens. A globally unique open-access R&D facility, it will bridge the Technology Readiness Level (TRL) gap between research activity and full commercial implementation of the sustainable manufacture of glass. Glass Futures is a not-for-profit, Research Technology Organisation (RTO) funded by its members which includes the world’s biggest names in glass and technology, including Diageo, NSG Pilkington and Siemens. In addition Glass Futures2, is focused on Medical Glass Manufacturing Innovation and is already near full funding. The National Packaging Innovation Centre aims to double the current UK global sustainable packaging market by 2030, developing an industry-led approach to eradicate single-use plastic from the market. The Manufacturing Technology Centre Modern Methods of Construction programme is supporting the Government’s ambition to drive higher design and production quality for housing by accelerating the uptake of digital and manufacturing-led construction. Already working with six Registered Social Landlords (RSLs), the programme will develop cutting edge technology to retro-fit existing homes and build new homes using new, state-of-the-art, methods of construction. It is being developed in a collaboration between the Liverpool City Region Combined Authority, the Manufacturing Technology Centre, the Construction Innovation Hub, Torus Group, Peel Land and Property, housing associations, and industry partners. For potential investors looking to set-up home in the Liverpool City Region, they will be future proofing their expansion plans in a City Region striving to be one of the most environmentally progressive in the world, where major investments are focused on creating sustainable industries and delivering rapid digital connectivity, creating long-term competitive advantage for investors.

COME & SEE US AT THE LIVERPOOL PAVILION C19.A FOR MORE INFORMATION AND GREAT OPPORTUNITIES IN LIVERPOOL CITY REGION CONTACT Alice.Lamb@growthplatform.org OR VISIT

158_IMMOBILIEN MAN_N1a3_PIM

Imagepflege

leicht gemacht:

immobilienmanager Das führende Fachmagazin für Top-Entscheider immobilienmanager-Award Be the Best. Meet the Best. imFokus Das Kommunikations-Event für aktuelle Themen Corporates: Podcast + Video Talk Das redaktionelle, zielgruppenorientierte Hör-Seh-Erlebnis www.immobilienmanager.de Aktuelle News, Tipps, Trends und Termine – und vieles mehr …

www.immobilienmanager.de

IMV_Mipim 240 x 310_2022.indd 1

11.03.22 13:19

news

Human-centric innovations are about design, not engineering SHIFTING the emphasis from engineering to design is essential to create more human-centric business innovations, according to Tuesday’s panel session, Paving The Way For Tomorrow’s Challenges:

Innovation In Large Corporates. Olivier Durix, managing director of new activities at Bouygues Immobilier, said that COVID had changed priorities for his business: “Before the pandemic, we were very

Paving the way for tomorrow: Patrizia’s Dr Manuel Kaesbauer (left); Prologis’ Robert Heekelaar; Redman’s Sophie Rosso; PlaceTech’s Paul Unger; Allianz Real Estate’s Grigor Hadjiev; and Bouygues Immobilier’s Olivier Durix

focused on technology and innovation around building concepts, but since then we have implemented a total transformation and made it all about human needs. We have changed the team from engineers to designers.” Sophie Rosso, deputy head at Redman, agreed: “As a small business, we have to introduce innovation throughout the company as we do not have the budget for an R&D department. We have also changed the process to be more about design. It’s a totally different way to think.” Robert Heekelaar, strategy, architecture and innovation director at Prologis, said that the logistics specialist had created Prologis Labs to test new innovations. “Prologis Labs is an experimental space where we can bring vendors to try out new systems and test and combine them to see whether we can use them across out wider network,” he said.

REINVENTING the future was the theme for the Invest In Madrid conference, which focused on the urban transformation of the region and the city. Panelists discussed how Madrid is adapting itself for a sustainable and technological future that serves its inhabitants. Pictured are: Merlin Properties Socimi’s Ismael Clemente (left); Paloma Martin, Madrid’s regional minister for environment, housing and agriculture; Madrid City Council’s Mariano Fuentes; Gesvalt’s Sandra Daza; CBRE Spain’s Adolfo Ramirez; and Wires’ Carmen Panadero

Franklin aims to make an impact

Franklin’s Raymond Jacobs

RAYMOND Jacobs, managing director of Franklin Real Asset Advisors, is at MIPIM to highlight the benefits of impact investing. As a result of the pandemic, it is an investment strategy that is increasingly attractive. “When we developed this in 2016 and launched our fund in 2018, people were maybe not as interested in what we were trying to achieve from a social and environmental point of view, but the pandemic has changed that completely,” Jacobs said. “Over the last two years, there’s been a lot of focus on the shortcomings of various sectors — not just health care, but also affordable social housing and even the education system. There have been plenty of moments on TV when you’ve seen children sitting in their winter coats with windows open, because the ventilation is not sufficient.” He added that COVID has highlighted the need for more investment in social infrastructure: “We are seeing a lot of interest from our investors, institutions, pension funds and insurance companies, which now realise this is something they could invest in, get a good financial return and at the same time make the world a better place.”

MIPIM NEWS 3 • 33 • MARCH 17, 2022

Daily 3_p33+D.indd 1

16/03/2022 10:53

118v2_LA LIBRE BEL_N1 et 3_PIM

Sept nouvelles stations de métro à Bruxelles pour 2025

PP.28-29

Immo

- N°1 gique re Bel à la lib ment supplé

13 aine du - sem

r au 19 Janvie

r 2022 Janvie

e ractèr son ca ux est vertueralement géné di. Mais e logi applau do ho sa métquestion. et 5 pose >PP. 4

La station Verboekhoven telle qu’elle devrait être dans neuf ans.

r 2022

STIB

IMM O ARC BILIER HITE CTUR E LE BIEN D’EX CEPT CHÂT UN TRÈS ION BE EAU EN VE AU NTE

BRABANT/BRUXELLES - MERCREDI 14 SEPTEMBRE 2016 - www.lalibre.be

Les pertes d’emplois vont se multiplier dans les banques ury 21 CeNt

sait le l ne fai stice e de la gri u J a l Et si e bouché loyers... qu’un lloise des bruxe

N° 19 4

Févrie

au r Lap Nouve ue, Olivie gences Cen Belgiq réseau d’a CEO du

Les

es obilier Annonc ens imm r

8-12 Nos bi re et à louemo.be > PP.réfugiés ogic-im à vend Et en

ligne

diplômés vont en Flandre

w.l sur ww

Belgique pp.4-5

els he Bort Christop

ARCH SIGUR ITECTUR E VENT D LARSEN DU N ORD SCO TT PO HÔ UR LE S INTIM TEL ES ATTE NTIO LIFES N TY METTE … OÙ VO LE US Z LES PIEDS !

Les syndicats craignent l’annonce d’une restructuration, jeudi, chez ING. Le contexte, délicat, laisse peu de doutes: les effectifs du secteur déclineront dans les années à venir. pp. 24-26

rta immobilière enmé r Lapo nom d’être Olivievenu dans laortspha ère vient y 21 > P. 2 tur

portrait

Un magnum de vin gratuit ?

Retrouvez l’Essentielle Vino! Bordeaux, le RENOUVEAU • Foires aux vins : 70 VINS entre 5 et 20 € • Les VIGNOBLES du MIDI au fil de l’eau • Focus TEQUILA

Le 17/09 dans

Voyez en p.

Quotidien européen – Belgique 1,50 € – France 2,6 € – Luxembourg 1,50 €

Tél.: 02/744.44.44

OBJET DU M HO O FLORE MMAG IS EÀ NCE KNO LL

TABLE IMMO RONDE LES PE BILIER NEU RSPE CTIVESF, DU RÉ SIDEN TIEL

133e année – n° 258

PRÈS

300

ANN IMMO ONCES BILIÈR ES

HHHHH

© S.A. IPM 2016. Toute représentation ou reproduction, même partielle, de la présente publication, sous quelque forme que ce soit, est interdite sans autorisation préalable et écrite de l'éditeur ou de ses ayants droit.

RETROUVEZ NOS GRANDS DOSSIERS IMMOBILIERS

MIPIM

REALTY

ARCHITECTURE

EDITION 2021

2021

Le Realty nouveau entre en gare maritime

ZERO ENERGIE DIGITALISATION & URBANISME ECODYNAMISME & CIRCULARITÉ



QUAND L’ALGORYTME MULTIPLIE LE TEMPS



Aperçu des nombreuses conférences prévues Zoom sur la Gare maritime : nouveau fleuron à Tour et Taxis

S u p p l é m e n t à L a L i b r e

Supplément à La Libre belgique - n°44 - Semaine du 9 décembre au 15 décembre 2021

b e l g i q u e

VERS UNE VILLE SENSIBLE

Le ciel s’éclaircit au-dessus du Mapic à Cannes

n ° 4 4

MAISONS ET ARCHITECTES

S e m a i n e

TABLE RONDE ARCHITECTURE ET URBANISME À L’HORIZON 2030

d u 9 a u

Portrait

1 5

Alexis Vander Putten

d é c e m b r e

Annonces

Nos biens immobiliers à vendre et à louer Et en ligne sur www.logic-immo.be > PP. 12-20 befimmo

Pour son édition 2021 - 7 & 8 septembre à Cannes le salon MIPIM (Salon International des Professionnels de l'Immobilier) se transforme et s’hybride. Sous le slogan « Time to reconnect », le salon offrira en effet une expérience « en personne » accompagnée d'une nouvelle plateforme digitale, accessible toute l'année. Trois axes, notamment développés à travers l’important programme de conférences, structureront cette édition : ‣ Population – Répondre aux besoins de tous les utilisateurs de l’espace urbain. ‣ Planète – Construire un avenir à faible émission carbone et une économie circulaire. ‣ Performance – Obtenir une rentabilité financière à l’échelle locale, nationale et internationale.

Le Brabançon est à la tête de la société de vente et d’installation de panneaux photovoltaïques Energreen depuis sa création en 2009 > P. 2

2 0 2 1

POPULATION, PLANÉTE ET PERFORMANCE

Le salon international de l’immobilier commercial s’est tenu dans un format réduit, mais n’en a pas moins réussi son pari. >PP. 4 à 8

energreen

Belgium’s Real Estate Summit

SALON

 Vers un urbanisme apaisé ! (Programme résidentiel Voltaire – Schaerbeek Arch. : DDS+ / Photo : Marie Noel Dailly )

Retrouvez ce dossier sur www.logic-immo.be

Bureaux bruxellois : selon JLL, le crash annoncé est très exagéré …

Dossier réalisé par IPM Immo - Supplément gratuit de La Libre Belgique Retrouvez ce dossier sur l’application de LA LIBRE Journal+

Dossier réalisé par IPM Immo © S.A. IPM 2021. Toute représentation ou reproduction, même partielle, de la présente publication, sous quelque forme que ce soit, est interdite sans autorisation préalable et écrite de l'éditeur ou de ses ayants droit.

MIPIM

REALTY

ARCHITECTURE

MAPIC

24 mars

15 septembre

5 novembre

24 décembre

AUDIENCE PAPIER + DIGITAL : 230.977 LECTEURS AUDIENCE PAPIER + DIGITAL + WEB : 500.092 LECTEURS

vero.leclercq@ipmimmo.be

GDI_LaLibre2022_230x310.indd 1

daphne.mertens@ipmimmo.be

11-03-22 10:33:53

news

PLP’s pioneering focus on ESG wins it two award nominations ONE PERSON who is very happy to be back at MIPIM is Lee Polisano, co-founder and president of PLP Architecture, whose London-based company has been nominated for two MIPIM awards. Polisano is used to awards for his innovative approach and has been ahead of the game when it comes to environment, social and governance (ESG), with a long-time focus on civic responsibility and environmental responsiveness. Notable projects include Heron Tower, the City of London’s first sustainable high-rise building, and Nova Victoria, which is rethinking the urban setting around London’s Victoria station. His developments in the running for MIPIM 2022 awards are One

Bishopsgate Plaza in the City of London, which has been nominated in the Best Mixed Use Development category; and Bankside Yards, next to London’s Tate Modern art gallery, nominated for the Best Futura Project award. Polisano describes PLP as a research-based practice. It has an independent research group, PLP Labs, which researches people, places and technologies. “It opens avenues to collaborate with people outside of the architecture world,” he said. With Cambridge University and other institutes, PLP is looking at such things as the use of timber and carbon neutrality. One good reason to be back at MIPIM, Polisano said, is that he

can now meet many more of his clients and contacts from around the world, as the market has become more global. PLP’s current projects reflect this global reach, with a large-scale development in Milan and projects in Amsterdam and the centre of Tokyo. PLP also has a health and wellbeing project in Singapore. “It’s not about how you should work,” Polisano said, “but activating how you want to work.”

PLP Architecture’s Lee Polisano

063_OCORIAN_ N2&amp;_ QUART DE PAGE_PIM

Frankfurt office signals HDR’s Euro ambitions

HDR’s Adrian Gray

US-BASED professional services company HDR is opening a new office in Frankfurt, Germany, as part of a wider expansion into ser vicing the commercial offices and finance markets of Europe. The company’s focus in Germany had previously been largely on the public sector. The move follows the acquisition in 2019 of UK-based Hurley Palmer Flatt and takes advantage of the company’s expertise in those sectors in the UK. “HDR is now looking to expand into the commercial office market,” said Adrian Gray, the company’s g lobal corpo rate (offices) and commercial director and formerly a director of Hurley Palmer Flatt. “ We are also hoping we can capitalise on our experience with banks in London.” MIPIM NEWS 3 • 35 • MARCH 17, 2022

Daily 3_p35+D.indd 1

16/03/2022 17:39

050_EUROPA PROPERTY_N3_PIM

news

The Greenhouse cultivates Icelandic hospitality market THE GREENHOUSE co-founder and CEO Brynjolfur Baldursson is at MIPIM to look for international investors to back

a three-project programme designed to capitalise on the booming tourism industry in Iceland. Baldursson has already developed

The Greenhouse’s Brynjolfur Baldursson

040_CF NEWS_N2&amp;3_PIM

a first mixed-use project called The Greenhouse — named after the local town where greenhouses predominate to grow fruit and vegetables — based around hospitality and Icelandic style. With the initial development located just outside the capital, Reykjavik, he has further sites planned along the country’s popular south coast route, which attracts visitors drawn to the area’s range of outdoor activities. Former banker Baldursson said the idea of packaging the sites together was to provide a “hook to the market” for a large enough investment opportunity for institutions to consider, with the total value at around €100m. He also stressed that the boutique nature of the offer has been developed in

tune with the growing desire for premium environments, wellbeing and mindfulness. “Our approach is to design these locations as high quality but quirky and interesting interiors with an emphasis on original design, mixing rooms, hospitality, food and beverage, retail and leisure with the outdoor activities available,” he said. “In addition, we believe there is an opportunity to take advantage of the trend towards remote working and to create a Soho House-type vibe, so that local businesses can use our destinations for events and meetings and people can come from abroad and work there for some time.” Each of the three sites will sit adjacent to natural beauty spots and popular outdoor attractions. The mix of uses will be reflective of the location, curated to the needs of visitors and guests, with a sustainability strategy and strong design at the heart of the development approach.

Restez connecté(s), téléchargez l’appli CFNEWS IMMO Real Estate Transactions M&A Levée de fonds Dette IPO LBO

Réservé aux abonné(es)

Pub-appli-CFNews+Immo-210x135-V3.indd 1

Daily 2_p37+D.indd 1

MIPIM NEWS 3 • 37 • MARCH 16, 2022

Réservé aux abonné(es)

09/02/2022 11:16

16/03/2022 18:03

144_AMBASSADE BRESIL_N2&amp;3PIM_page1_dos piqué

Now is the time to plan your investment in Brazil. Tourism Investment Hub

The best shortcut between the investor and the opportunity

Access: investimento.turismo.gov.br

144_AMBASSADE BRESIL_N2&amp;3PIM_page2_dos piqué

MINISTRY OF TOURISM

FEATURE: MIPIM IN EVOLUTION

‘I want MIPIM to be as open as possible’ Nicolas Kozubek, the new managing director of MIPIM Markets, talks to MIPIM News about his ambitions for the world’s favourite real estate exhibition

fter four years of driving MIPIM’s evolution and expanding the kind of firms it represents as director of its proptech showcase, Propel by MIPIM, Nicolas Kozubek has been appointed managing director of MIPIM Markets. Nicolas talks to MIPIM News about how that experience has shaped his view of real estate, and where the future of MIPIM might lie. What were the key lessons of managing Propel by MIPIM? Why is proptech so important in real estate today?

Nicolas Kozubek: Over these last three years, it has been a daily pleasure to work in the tech and innovation space. In this world, people love to question things, think about how they could be done in a different and perhaps better way; they are very transparent and love to learn from their peers. This genuinely collaborative approach is refreshing. Proptech folk clearly have some of the answers to the questions that the real estate industry is asking today, and sustainability is amongst the most important. On the other hand, you get to understand that tech is a means

and not an end, and that establishing the right conversations, the right partnerships, and the right connections, cannot be done overnight. Perseverance and purpose are key. The market tends to illustrate the importance of proptech through funding volumes, which is quite limiting but always instructive. In 2021, private investment into the sector reached a record $32bn, according to the Center for Real Estate Technolog y and Innovation. That’s interesting, but I think it’s even more striking to see how many real estate companies communicate about the importance of tech and innovation. It has become a must, and even if we obviously need

to differentiate communication from real ambition, it clearly says something about where real estate industry leaders are looking. Can you share your professional journey that brought you to this stage in your career? I have actually spent my entire professional journey in and around real estate. I started my career at Unibail-Rodamco (now Unibail-Rodamco-Westfield), where I stayed for nearly 10 years, with roles ranging from shopping-centre management on some major assets (Rosny 2 and Les Quatre Temps and CNIT in La Defense) to a

MIPIM NEWS 3 • 40 • MARCH 17, 2022

Daily 3_FEATURE+D.indd 1

16/03/2022 17:41

FEATURE: MIPIM IN EVOLUTION

memorable experience in Sweden for the opening of Mall of Scandinavia. I finally left after one final year as project director in the Innovation Lab, where I started to plug in to everything tech and innovation. The most exciting aspect for me was to be able to get to know a vast range of stakeholders relating to the projects I was working

“People’s lives have changed in an unexpected and very profound way”

few, disjointed years; everyone understands that. But when it comes to MIPIM, in particular, we have an amazing opportunity to make this happen. This is also the result of the incredibly hard work involving hundreds of RX France employees throughout the years, and faith from our business partners. But it’s hard to find another place where so many people who have a role in the built environment spend time together. It’s a unique chance — and a responsibility. I believe that participants understand this, and, beyond business, lean toward taking this op-

portunity to move the needle in the right direction. What feedback have you received from clients about how they would like MIPIM to change? What are your ideas? Over the past three years, people’s lives have changed in an unexpected and very profound way. So, getting closer to ‘normal’ — whatever that is — drives MIPIM-goers to seek a purpose. We do understand that spending a week on a business trip must come with the conviction that this is the right thing to do.

I guess it’s a question of balance. That means giving our clients all the information and indications that help them assess the productivity of this week, while understanding that the best moments have an emotional resonance, and that drives decision-making too. So, we want to continue to explore all the different things that people can get out of MIPIM and amplify that as well. On another note, I want MIPIM to be as open as possible. Open to new ideas, new profiles, new generations. Same but different. But it’s easier said than done — time will tell!

on: co-owners, tenants, local authorities, associations, media specialists, and, of course, colleagues. Trying to create an authentic common goal and vision, even where people and their interests are very different, is clearly what drives me — I love to foster collective motivation. I think that’s the reason why when Reed MIDEM (now RX France) contacted me in 2018 to fill the new position of MIPIM PropTech (now Propel by MIPIM) director. I also felt it was a natural move. I have spent the last few years developing the innovative arm of the MIPIM brand with impactful events in New York and Paris, that have finally led me to this new challenge. I am very excited! Why is MIPIM still so vital for the real estate community? New MIPIM managing director Nicolas Kozubek

There’s an obvious point that people need in-person connection, particularly after the last MIPIM NEWS 3 • 41 • MARCH 17, 2022

Daily 3_FEATURE+D.indd 2

16/03/2022 17:41

161_METROPOLIS_N1a3_PIM

EXCLUSIVE SUBSCRIPTION OFFER FOR

ATTENDEES

ve Sa % 50

Three months at half price!

Save 50% off a digital subscription to Property Week, for your first three months*. Property Week gives you access to breaking commercial and residential property news, as well as expert opinion, analysis and so much more.

Benefits: • Instant and unlimited access to PropertyWeek.com • Weekly digital magazine direct to your inbox • Access the Property Week app • Your choice of breaking news and sector specific editorial newsletters • Save 50% when you subscribe today

THREE EASY METHODS TO SUBSCRIBE VISIT: subs.propertyweek.com and enter code MIPIM22 CALL: +44 208 950 9117 EMAIL: propertyweek@abacusemedia.com T&Cs: *This offer is open to new subscribers and is available via direct debit payment only. You will pay £49.50 for your three months, then your subscription will continue automatically at a rate of £99 every three months thereafter. This offer ends on 21 March 2022. If you do not have a UK bank account, you may not be able to redeem this offer, in which case an alternative offer will be available to you. All subscriptions renew automatically, and you can cancel anytime. Standard UK digital subscription price £319. The payment schedule will be sent with your order confirmation. Offers and pricing are subject to change without notice.

Expiry date: Offer ends 21 March 2022

Mipim Daily News 240x310.indd 1

11/03/2022 14:11

news

A masterclass in assets Egypt is seeking

Allianz Real Estate’s Megan Walters

A BROAD array of real estate talent provided MIPIM delegates with drilled-down insights during yesterday’s panel in the Agora Suite entitled Real Estate Much More Than An Asset: Prime Real Estate, Location Or Features. After sharing thoughts on the Ukraine crisis, Ben Bannatyne, president, Prologis Europe, kicked off the discussion by talking about challenges in the industrial logistics space. Megan Walters, global head of research, Allianz Real Estate provided insights into the impact of city density on the use of office assets post-COVID. Marielle Seegmuller, operations director, Covivio, outlined trends around changing usage in office space. Lucas Fiuzza, business director, Apex-Brazil said that changes in government rules meant Brazil is open for business, with the leisure sector likely to enjoy robust growth.

Benoy looks forward to the new ‘caring’ office

Benoy’s Tom Cartledge

TOM Cartledge, CEO of international architecture firm Benoy and its sister companies, is at MIPIM as the company considers what the

long-term recovery of the office environment will be, and what retail podiums will look like. Cartledge said the pandemic had accelerated emerging trends. “We’ve picked up a number of office developments for example, where the clients are asking us to apply a retail concept and thought process to it, which is very much about the care and attention of the consumer and the person using that.” According to Cartledge, the other big shift has been the awareness of the environment and how that is playing out in different ways in different places. “Perhaps in China and India there’s still a race for growth and the pressure on the market to develop more product means that we’re probably still not being as sustainable in those markets as we could be,” he said.

investors for nation’s new cities WITH its population growing by around 2.5 million annually, Egypt is at MIPIM aiming to attract investors and real estate funds to help the country develop its 45 new cities, said Khaled Mahmoud Abbas, deputy minister of housing, utilities and urban communities. Many of the new cities are located within 5km of existing towns and cities and the Egyptian government has spent the last few years creating the infrastructure ahead of development. “The most important thing is to improve the quality of life of Egyptians,” Abbas said. “We need to build everything, but we are starting with commercial and industrial zones in each city to create employment, so that people can move. That provides us with the opportunity to then upgrade the infrastructure in the old cities.” The aim is to have much of the work complete by 2030 and the initiatives are country-wide

Deputy minister of housing, utilities and urban communities, Khaled Mahmoud Abbas

Powering up for investors CARDIFF has more than £10bn of investment opportunities that are ready and waiting, according to Ken Poole, head of economic development at Cardiff Council, who said he was enjoying being back to face-to-face meetings at MIPIM. “We are delighted to be back at MIPIM and have the opportunity to present to investors,” he said. Investment projects are available across a number of sectors, from office to mixed schemes to leisure and manufacturing. They also include the decommissioned Aberthaw power station in the Vale of Glamorgan, bought earlier this month by the Cardiff Capital Region.

Poole said the imminent launch next year of the region’s South Wales Metro system was providing another impetus for growth. “That infrastructure will make a massive difference, attracting investment and making it easier to travel. It’s the first time a transportation project has been seen as a regeneration project. This dream we had 10 years ago is now coming to fruition.” “Previously Cardiff has been the catalyst but now we are looking at growth across the region,” said Nicola Somerville, head of business development and inclusive growth at Cardiff Capital Region.

MIPIM NEWS 3 • 43 • MARCH 17, 2022

Daily 3_p43+D.indd 1

16/03/2022 18:16

055_PLACE NORTH WEST_N3_PIM

NEWS | EVENTS | PODCASTS

CONNECTION Surround yourself with the key individuals that are shaping the North West of England.

DEVELOPMENT Discover real investment opportunites for your business in Manchester and across the wider region.

INSIDE TRACK Broaden your knowledge of the political environment and monitor the progress of Northern Powerhouse.

placenorthwest.co.uk/subscribe

news

Don’t believe the hype over hybrid, Bradley Baker warns SUGGESTIONS that the office sector will suffer significantly as a result of a continued culture of home working are a “knee-jerk” response, the head of a major London developer has said. Addressing a busy workshop session at MIPIM on Tuesday, Bradley Baker, chief executive of CO-RE London,

said that industry analysts and professionals were overstating the potential impact of the new hybrid model of working in which staff split their time between home and the office. “When COVID happened there were a lot of commentators saying ‘This is the end of the office, office is dead,’” he

said. “I do think there’s often a kneejerk reaction to these events. “Younger people need mentoring. They need to learn. The research we’ve done implies that there is a future for offices but they need to be more engaging and to give staff a reason for coming into the office.

Leesman’s Tim Oldman (left), Beverley Kilbride of LaSalle Investment, Larissa Lapschies of Immobilienjunioren, Bradley Baker from CO-RE, and Cushman & Wakefield’s Tugra Gonden=

Real estate should focus on built-in wellbeing IN TODAY’s conference session, Hospitality & Commercial Real Estate: How Nature Trends Hospitality & Amenity Issues (Sale Debussy, 09.00), panelists — including architects and real estate professionals — will look at how to take into account biodiversity and the relationship between humans and nature in living spaces. The conference is organised by IBPC, a French association promoting urban biodiversity, and which aims to gather the support of all forward-thinking actors within the urban space, real estate and all those living in an urban environment.

Today IBPC has 85 members, including four architectural firms, major French corporate groups including French bank Groupe Caisse des Depots, Gecina, Eiffage, Bouygues, Vinci, Altarea Cogedim, LPO (Blue bird Network), and a number of groups from outside of France and the city of Paris. “It’s vitally important for investors, and the real estate sector at large, to come to grips with the importance of these changes,” founder of Global Concept and panelist Michel Gicquel said. “A hotel is very often like a

mini-city. The environmental awareness of clients is accelerating and expectations are growing quite rapidly. Integrating these values generates a subliminal, but strong sense of well-

“If you’re building a building with lots of character, and ESG at its heart, that’s what an occupier will want.” Baker’s comments came during the workshop session, The Office Uprising: Innovating To Bounce Back, where he was one of the expert panelists. Beverley Kilbride, head of transactions & asset management Europe at LaSalle Investment Management, said that large firms are increasingly looking to be based in an “emblematic HQ” to stand as a symbol for the company. “It’s about what a particular company wants to do in their space,” she said. “If you’re drawn to this inspirational office space that’s a really important factor. It won’t overcome the locational challenges but it’s certainly part of the thought process for occupiers.” Also speaking on the panel was Tim Oldman, founder and chief executive of employee workplace experience specialist Leesman, who said that as a result of the pandemic the “power is with the employee” as never before. The shift, he said, contains a warning that all employers must heed in the future. “Employees have been gifted something in March 2020 which was trust,” he said. “If that trust is withdrawn then those people just won’t come back. We’re going to have to start listening to the employee about what they need.”

being for those working in and using these facilities. In short, the integration of nature in all our living spaces is irreversible. The same goes for the office space of tomorrow.”

IBPC and Global Concept’s Michel Gicquel

MIPIM NEWS 3 • 45 • MARCH 17, 2022

Daily 2_P45+D.indd 1

16/03/2022 18:10

111_LA TRIBUNE_N2_PIM

AU CŒUR DE LA RELANCE ÉCONOMIQUE

DANS LES TERRITOIRES ABONNEZ-VOUS

1€

LE PREMIER MOIS SANS ENGAGEMENT PUIS 9€/MOIS

Partageons l’économie

news

Henley: seeing opportunity where others see problems LONDON-based investment firm Henley is at MIPIM “hungry to invest” said Justin Meissel, chief investment officer and managing director, Europe. Having established a strong track record in delivering

Henley Investments’ Justin Meissel

returns on its investments, he explained that a core strength of the company is that “it selects opportunities where perhaps others are shying away”. Meissel said Henley is interested in “all the main food groups as well as emerging opportunities such as logistics, data, health, student and storage. But the asset type is probably less important than our strategy, which we call ADD for shorthand — arbitrage, distress and dislocation. The real question is ‘can we use our expertise to add value?’” By market, Henley is primarily active in the US, UK, Ireland, Germany and Poland, though there have also been forays into Spain and Portugal. During COVID, Meissel said the company played close attention to office and retail opportunities “because we knew those markets weren’t going to zero. We invested in office parks and retail assets where the locations were great but there was also

potential for alternative use value if necessary.” Although Meissel said decision-making around assets is very nuanced, and therefore not prescriptive, he identified housing as a key point of interest: “We’re building around 14,000 houses in the UK, and would love to be doing more housing in Europe at the right price. One thing we have to be very careful right now is the impact of inflation on rental values.” One area Meissel said is a key differentiator for Henley is its Secure Income Property Unit Trust (SIPUT). Launched in 2017 to provide housing for vulnerable adults including those with learning disabilities, physical disabilities or mental health issues, the £500m (€595m) ESG-themed fund has brought many new homes to the social housing sector. “It’s an example of how we can generate a return for investors while creating a positive impact on society,” he said.

Resolution to target logistics RESOLUTION Property is in Cannes to meet potential partners for joint venture investment projects and seek acquisition opportunities following a successful growth period at the firm. The London-based investor and developer has come to MIPIM on the back of a run of deals and acquisitions, primarily in the office sector but recently making its first move into logistics. Resolution Property’s Arnaud Benoit, head of investment for France and Benelux, spoke to MIPIM News about the company’s ambitions for future growth across a range of sectors including hospitality and logistics. “Right now we’re trying to acquire existing assets because that’s what our capital needs. On the back of those

acquisitions it’s going to allow us to grow our team within Resolution, specialise in logistics and start doing ground-up development, more speculative things. “On the hospitality side the ambition is to team up with brands and operators, potentially acquire one of those, and do corporate deals and bring them under the Resolution umbrella,” he added. Last November, Resolution acquired a 40,000 sq m logistics hub in Woerden, in the Netherlands. Among its UK assets are the Royal Exchange Building in the City of London, overlooking The Bank of England, which the company acquired in 2018, and tech and media hub Alphabeta, bordering Shored-

itch and The City. Resolution Property is majority owned by Chinese holding company Fosun International, which acquired a controlling share in 2015.

Resolution Property’s Arnaud Benoit

Resilience is the key factor for Finnish market DESPITE the turmoil of the market globally, the Finnish property market has remained relatively stable, according to Anni Sinnemaki, deputy mayor of Helsinki who was speaking at MIPIM’s annual Finnish breakfast meeting. “The one thing I think is important from the point of view of the property market in Finland is that even recent extraordinary times have shown the resilience and stability of the Finnish society.” She said the country had “managed the pandemic times with unity”.

Helsinki’s deputy mayor Anni Sinnemaki

Hanna Kaleva, managing director of KTI Property Information presented some of the key highlights from KTI’s 2022 Finnish Property Market report at the event. She said the Finnish economy had recovered quickly in 2021, continuing to attract foreign and domestic investors. Transaction volumes rose by 15% compared to the previous year and total property investment grew by 11%. Residential was the most traded sector in 2021.

MIPIM NEWS 3 • 47 • MARCH 17, 2022

Daily 3_p47+D.indd 1

16/03/2022 18:13

102_LE POINT_N1a3_PIM

Mieux qu’être informé, comprendre le monde qui nous entoure. Info en continu, interviews exclusives, décryptages, nouveaux formats... Tout pour faire Le Point Vous pouvez retrouver tous nos contenus sur :

Le site Internet Le Point wwww.lepoint.fr

L’application Le Point

Tout pour faire

news

French panelists are upbeat about post-COVID potential FRANCE is back for business, said panelists at the ‘France: Towards A New Geographic Distribution?’ session at MIPIM on Tuesday. “We are back and investment is also back after two years of crisis,” said Eric Cosserat, CEO of Perial. The panel said there had been various impacts of COVID on the French market. “Ecommerce was boosted so the logistics appetite was boosted and we saw yields going down and demand up and more investors willing to go into

this asset class,” said Jean-Philippe Camarans, president of Cushman & Wakefield EMEA Valuation & Advisory. “We also saw the work from home demand,” he said. “COVID transformed the way people are seeing offices so investors are looking to see ‘does it match future demand?’ This has driven yield compression for prime office buildings.” The panel said there had been a shift of people from Paris to other regions in France. “Many people

want to live out of cities and the [trend of ] moving to the Atlantic coast is stronger and deeper. We have stronger regions than we used to have,” Camarans said. Gecina’s executive director of investment and development, Romain Veber, said the market was also seeing a shift to large cities such as Lyon and Bordeaux. “Investors are willing to re-invest in residential and at the same time we are seeing big movements towards large regional cities,” he said.

Hannover seeks partners for big housing project THE STATE capital of Hannover is being showcased at MIPIM as part of the German pavilion for cities and regions. “We’re very happy to be back. It feels a bit like seeing friends and family,” said Kay de Cassan, head of the city’s economic department. “Over the years Hannover has become more and more attractive to international investors, and sharing with four other German cities [on the stand] works well.” Hannover’s major ongoing project is the Kronsrode housing scheme. “It is a very large residential development — the biggest in northern Germany — with 3,500 apartments, and we are looking for different partners for various parts

Gecina’s Romain Veber (left), Perial’s Eric Cosserat, Cushman & Wakefield France’s Jean-Philippe Camarans and Notaires du Grand Paris’ Olivier Dagrenat

UK officials point to positives CRISIS? What crisis? An unashamedly positive view emerged from the panel discussion on the UK Real Estate Investment Scene. “The UK is more welcoming to investors than it has ever been,” Lucy Buzzoni, director for investment at the UK’s department for international trade, said. As well as listing some of the main government “levelling up” funds and business incentive schemes, such as freeports, she noted one niche area of global investment in UK: sound stages. Driven by London as a base for TV streaming services, €2.38bn is being invested in new capacity, she said. A similar positive message came from Mark Allnutt, senior managing director of Greystar Europe Holdings:

“You can invest at scale, with the protection of the rule of law.” A particular area of opportunity was in new rental, he said. “There is a lack of provision of purpose designed and built rental communities. It is a great long-term hedge against inflation. The population is growing and the number of 18-year-olds is set to grow throughout the decade.” Sally Ronald, deputy director of investor relations at the international trade department, emphasised the housing and other opportunities outside London, driven by the UK government’s strategy for levelling up the regions, including transport infrastructure to improve connectivity. The importance of this was under-

lined by Alda Feriz, executive director of finance group Wimmer Family Office. “We are doing a project in the north of England but only because the support of the government has made it worthwhile,” she said.

Department for International Trade’s Sally Ronald

Hannover’s Jonas Kirchberg and Kay de Cassan

of it,” de Cassan said. Kronsrode comprises three independent residential quarters on 53 hectares and aims to provide a living experience closer to nature but with proximity to all of the state capital’s facilities. “On one side is the city, near to the Hannover Fair, so there is public transportation at its best, and on the other hand the countryside is close by,” added de Cassan.

MIPIM NEWS 3 • 49 • MARCH 17, 2022

Daily 3_p49+D.indd 1

16/03/2022 13:52

096_IBERNIMO_N1a3_PIM

The largest communication platform in the Iberian real estate sector M A G A Z I N E S | D A T A I N T E L L I G E N C E | W E B PA G E S | N E W S L E T T E R S | E V E N T S

www.iberinm o.com

REAL ESTATE INVESTMENT IN IBERIA www.iberian.property

news

Investors turn to safer sectors as economic uncertainty builds

AXA IM’s Laurent Lavergne

THE RESIDENTIAL, logistics and healthcare sectors are proving the most resilient so far in 2022, as continued fluctuations in the market drive investors to seek more certainty in real estate, according to a senior executive at AXA IM – Real Assets. Laurent Lavergne, global head of asset management and development at AXA IM, said that investors were showing a strong interest in sectors considered safer and steadier in the face of the political and economic upheavals taking place around the world, and those that benefit from emerging trends in retail. “It’s a time when so many things have happened to the industry,” he

CEE workshop unpacks new patterns of trade MIPIM’s Central Eastern Europe Focus on Tuesday afternoon drew a large, engaged audience to the Workshop Room. Following inspirational opening remarks from the mayors of Lithuanian capital Vilnius and Latvian capital Riga, delegates spent the rest of the session workshopping key sector-related themes. Session moderator Timothy Moonen, co-founder of The Business Of Cities, said the purpose of the workshop was to “debate the broad trends affecting investment in the region”. These include environment, social and governance (ESG), and digital disruption, “which are leading to new patterns of trade and logistics”. The CEE session was sponsored by Skanska, which also led one of five discussion groups. Katarzyna Zawodna-Bijoch, CEO of

Skanska’s commercial development unit in CEE, said the pandemic and the Ukraine conflict did not change the fact that the region was benefitting from

said. “The pandemic was shaking the industry in many asset classes. We’re highly focused on high-conviction assets, such as residential, logistics, life science and, more broadly, the healthcare sector. That was starting pre-pandemic and we’re still very much focused on those asset classes. We believe they will continue to be resilient despite this additional layer of uncertainty that is coming with the geopolitical situation, which itself raises some questions.” Lavergne added that the climate crisis and the past warnings that real estate must take its role in global decarbonisation efforts more seriously had been heeded by the industry, which is now fully conscious of

the responsibility it bears. “The big theme [of MIPIM 2022] is ESG [environment, social and governance] and decarbonisation. It is high on the agenda for everyone. That’s extremely challenging. You’re adding new metrics to a world where people are speaking about yields, returns and rents.” He added that the world is now starting to see the warnings about global warming come true, with the higher incidents of serious natural events: “It’s no more about predictions. We’re starting to see that what the models were predicting is happening. We need to do something. The consciousness is a big step.” Globally, real estate and construction combined account for by far the largest proportion of carbon emissions. Some 45% of all carbon emissions stem from the construction and management of buildings around the world.

“strong fundamentals”, which continue to drive robust growth. Riga mayor Martins Stakis told delegates that the three Baltic territories might be small, “but they are highly-motivated, very adaptable and keen to embrace the digital economy”. His Vilnius counterpart, Remigijus Simasius, said that CEE would continue to grow because

its population is “brave, efficient and free”. He drew attention to the fact that Vilnius’ strateg y to attract FDI has just been recognised by f Di Intelligence, a division of the Financial Times. Other workshop leaders came from the Budapest Development Agency, the Hungarian Investment Promotion Agency, Invesco and Cushman & Wakefield.

Workshopping CEE with Vilnius mayor Remigijus Simasius, pictured centre

MIPIM NEWS 3 • 51 • MARCH 17, 2022

Daily 3_p51+D.indd 1

16/03/2022 18:15

097_WAVE MEDIA_N2et 3_PIM

THE DEFINITE SOURCE FOR GREEK REAL ESTATE MARKET

SPECIAL MIPIM EDITION www.ered.gr

RED_MIPIM ADD-22.indd 1

08/03/2022 16:04

news

Heitman adds trio of UK studenthousing assets to global portfolio GLOBAL real estate investment management firm Heitman has acquired three UK student-housing assets — one fully occupied and two forward-funded developments — for approximately £70m (€83m). The deal is an off-market transaction with London-based student-housing developer Alumno Group. The assets are all located in close proximity to major universities and student populations.

“We are pleased to work with a toptier developer such as Alumno Group on these high-quality student-housing assets,” said Caleb Mercer, Heitman’s managing director of European Real Estate Investment. “Despite COVID-19, purpose-built student accommodation remains in demand and has experienced steady occupancy gains since 2020. We expect that trend to continue as students seek greater convenience and higher quality of life.”

Heitman moves into student housing

Gordon Black, Heitman’s senior managing director and portfolio manager, added: “With favourable supply and demand fundamentals, our investments in student-housing assets across the UK further diversifies our global portfolio with assets delinked from GDP, reflecting one of the key thematic strategies we are pursuing.” As Heitman executes its global strategy, Black says it will look to invest in accordance with three themes: “Smart diversification among traditional property types, convergence or capitalisation of maturing or mispriced property types, and delinked or defensive, which involves investing in assets with traits less tied to economic cycles.” David Campbell, founder and managing director of Alumno, added: “Working with such a well regarded international investment company as Heitman is a significant milestone for our company and we look forward to developing a long-term partnership.”

Berlin Hyp backs Regensburg office BERLIN Hyp, which specialises in large-volume real estate financing, is providing a loan of €70m for a new office building in the German town of Regensburg. The loan has been put together in partnership with Sparkasse Landshut, Sparkasse Rottal-Inn and another Spar-

kasse savings bank to finance a new office complex in the historic university town. After Berlin Hyp initially took over the full underwriting process, the savings banks participated in the overall financing with a total of €30m using the S-Group product ImmoBar. The property is the final construction

phase of DBV Businesspark, which is being built in the Dornberg area of Regensburg for multi-tenant office rental. The total rental area of the property is approximately 20,000 sq m. In addition, the park includes a hotel, rented to Premier Inn, while an underground car park is also planned.

Greenman Open finances retail park acquisition GREENMAN OPEN, one of the largest food retailfocused investment funds in Germany, has signed a seven-year €19.5m debt deal with BayernLB to finance the acquisition of a retail park in Sonneberg, Germany. The asset is currently anchored by Marktkauf, part of the EDEKA Group and one of Germany’s leading food retailers. Other tenants include Moebel Boss, CF Fitness and the Danish retail chain JYSK. Neil Hennessy, head of debt capital markets at Greenman, said: “We are delighted to sign this new deal with BayernLB, a leading commercial real estate financier in Germany, adding a further asset to our growing Open portfolio”. The Open fund currently has of €1.01bn under management and invests exclusively in German food-anchored retail parks, hybrid centres and neighbourhood centres.

The retail park in Sonneberg, Germany

The latest phase of DBV Businesspark in Regensburg

MIPIM NEWS 3 • 53 • MARCH 17, 2022

Daily 3_p53+D copy.indd 1

16/03/2022 18:18

176_RM CONF_N3_PIM_page1

by invitation only

SPECIAL EVENTS

THURSDAY 17 MARCH - MORNING

12.30 - 14.30 SALON CROISETTE AT THE MAJESTIC HOTEL

HOSPITALITY LUNCH

AGORA ROOM ( Palais 3 )

Hi 5 STUDIO ( Palais 5 )

PROPEL STATION ( Palais -1 )

AUDI A ( Palais 3 )

09.30 - 10.30

09.30 - 11.30

SPOTLIGHT U.S.A

SMART DENSIFICATION IN THE BRUSSELS-CAPITAL REGION

10.15 - 11.00 HOUSING FIRST: A SECOND WIND FOR HOUSING - PART 1 Pillar sponsor Sponsored by

11.00 - 11.45 GREEN IS THE NEW BLACK: LOCAL INITIATIVES TO TACKLE GLOBAL CHALLENGES Pillar sponsor

11.30 - 12.15 FINANCING CLIMATE ACTION

11.15 - 12.15 START-UP COMPETITION: FINAL

MIPIM 2022 NEWS 3

Articles inside

FEATURE