No French farce
In just under a week’s time, scores of developers, property agents, inward investment and marketing types and local authority and regional development agency representatives will be leaving the Midlands for the south of France to attend the MIPIM property exhibition and convention.
Nice work if you can get it, you might think, and it’s certainly easy to dismiss the whole exercise as a bit of a junket and to criticise it – in the case of those attending from the public sector – as a waste of taxpayers’ money in this time of austerity.
Easy, but wrong.
MIPIM is more than just a property show: it has become the must-attend show for those who want to meet potential international investors and developers for large-scale schemes back at home, many of which have the potential to bring in wholesale change and improvement to our towns and cities.
Yes, there may be a fair amount of drinking involved along the way, and I’m sure the food is of a high quality, but in the same way that junior journalists are sent out to the pub because ‘you don’t pick up stories sat at your desk,’ so those seeking investment in regeneration schemes and potential inward investors need to go out and find them. And there is nowhere better than MIPIM for that.
Having said that, the situation at home has necessitated a downsizing of MIPIM delegations from this region in many cases, and if the same work can be done by fewer bodies, then all well and good.
But those representing cities such as Coventry and Stoke know the value of hitting MIPIM hard. They are determined to attract investment into ambitious regeneration schemes and need to have the big boys over there putting across the message about what they’ve got to offer at every opportunity.
It is crucial to take a long view of these things. One successful contact made at MIPIM that leads to a development, investment or inward investment deal down the line will make the money spent on attending the show look like a drop in the ocean.
It’s also terrific publicity. Insider will be there, the specialist property magazines will be there and other news outlets will be awaiting announcements.
And there will be announcements because, quite sensibly, deals that have been done in the period leading up to MIPIM will be announced at the show as the coverage is likely to be much greater.
Hopefully, there will be positive news relating for a number of our towns and cities. I’m sure all of us would like to see some of the stalled regeneration schemes around the patch given a much-needed shot in the arm.
And if previous years are any guide, we won’t be disappointed and there will be good news aplenty coming back with the duty free.
I’ll drink to that.
Andy Coyne, editor, Midlands Business Insider
For full coverage of MIPIM, click here.
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