MIPIM 2016: Nearly but not quite. Right up until doors opened, the British contingent at this year’s MIPIM was set to be the largest. But a late surge of domestic delegates saw the French emerge on top for the 27th of 27 MIPIMs. Does it matter? Symbolically, yes. And as we all know symbolism matters.
Much like the rain which dampened day two, the falling short reflected a slightly subdued mood among UK delegates. Brexit-driven doubts continue to temper the outlook of most. With news that Birmingham’s Paradise Circus had secured its first occupier, that the London borough of Haringey is pushing ahead with its £2bn regeneration programme and the innovative deal struck by Central Manchester University Hospitals NHS Foundation Trust and Bruntwood, there is plenty going on.
But for the second day in a row caution appeared to be triumphing in a battle of wills with optimism.
Meanwhile, there was much checking on Blackberries with the more impactful decisions being taken far from Cannes. Frankfurt, Bilfinger shortlisted French energy and services group ENGIE to buy its property business, including GVA. And back in London the chancellor caused consternation with reforms to stamp duty land tax and tax deductibility of interest costs.
Whether your head was turned towards the Croisette or Whitehall, it felt like a day for dampening optimism.
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