Lewis Yorke-Johnson our co-founder at The Shore Group attended MIPIM 2023 in Cannes. Here he shares his takeaways on the hot topics of the event:
1. MIPIM is back with a vengeance!
The biggest ever? Yes. The best ever? Possibly. Be rest assured MIPIM is back and here to stay. It’s still the place where the property world hangs out.
2. The appetite for investment is still strong
There’s still A LOT of capital that’s ready to be invested, but the risk appetite is hardening. More equity and credibility demanded to get deals done but….
3. Some markets are booming
The data centre market is booming and major clients are demanding more than the market can supply. We’re seeing this reflected in demand for our data centre logistics team.
4. The picture is mixed for major schemes
Some developments are carrying on full steam ahead. Others are being delayed and phasing changed as interest rates and cost rises bite. Expect more of this for rest of 2023.
5. Cashflow is king
Obvious but worth saying.
6. Materials costs have plateaued
The consensus view which we share is that most of the price rises for materials have been built in and there’s a period of stability ahead unless…
7. …there’s another shock around the corner
The big unknown that we all hope doesn’t happen, but a feeling that businesses are resilient and ready to adapt if it does. Many remained worried about supply chain risks due to some huge schemes particularly in the london market hoovering up the best sub contractors operating within the city.
8. Carbon-reducing commitments are only going up but collaboration is increasing
Ambition to play our part is increasing and lots of focus on collaboration to deliver across the industry. Share best-practice for the greater good.
9. A big misconception that there’s still a blue-collar labour shortage
This has shifted quickly since the start of the year, but this isn’t the bottleneck any more. Unskilled labour is ready and available.
10. But a white-collar market remains tight
High calibre white collar professionals remain in demand. Certain skills and areas in particular. It’s a very good time to be a PQS…
11. The alpha male is under threat…
Still far too white males out operating, but the change is happening with the most diverse MIPIM community I’ve ever seen (including on the panels) Let’s move faster and further and ditch the stereotype
12. Work hard / play hard lives on
Awesome meeting new and familiar faces at this year’s conference. Play hard now involves paddle tennis, morning runs as well as last orders at 5am.
Lewis Yorke-Johnson, Co-Founder