UPDATE: MIPIM has been postponed by its organisers, to 2-5 June.
Paul Zilk, chief executive of Reed MIDEM, said: “The well-being of our clients and staff is our priority. Given the evolving context, the best course of action is to postpone MIPIM to June.
“This is not a decision we have taken lightly. We believe these new dates will provide the international MIPIM community with the opportunity to achieve their business objectives.
“We are grateful to our clients for their support and constructive input during this challenging period, and we look forward to talking with them in the coming days about MIPIM in June.”
The decision comes after a host of major firms, including BNP Paribas Real Estate, Cain International and Carter Jonas, pulled out of this year’s MIPIM conference, in response to the growing number of global coronavirus cases (see below for the company announcements).
Clifford Chance, Baker McKenzie, Norton Rose Fulbright and Morrison & Foerster were among the law firms deciding not to participate.
Other big names that had joined the exodus include Commerz Real, CBRE, JLL, Colliers International, Avison Young, Prologis, LaSalle Investment Management, RICS, Savills, Cushman & Wakefield, Blackstone, Legal & General, Lloyds Banking Group, Knight Frank, Grosvenor, Greycoat, Landsec, EY and PGIM Real Estate.
German consultants Drees & Sommer, architecture firm HOK, developer YardNine and Manchester-based developer CTP will also not be attending the event, which is set to be held at the Palais des Festivals in Cannes from 10-13 March.
The first coronavirus case in Cannes was confirmed by Christian Estrosi, mayor of Nice, on 28 February.
BNP Paribas drops out
France’s BNP Paribas Real Estate was expected to send 297 delegates to the conference, according to the event database. Of these, 38 are based in the UK.
A spokesperson for the firm said: “As a result of the global concern related to the coronavirus outbreak in Europe, we have decided to reconsider our attendance at international events and withdraw from MIPIM. This difficult decision is a precautionary measure founded on our commitment to putting the safety of our employees, clients, and partners first. In these difficult circumstances, we wish to express our solidarity with those affected.
“We would also like to express our support for the businesses in the Cannes region who make this event a success every year.”
Carter Jonas backs out
Carter Jonas said it will withdraw from MIPIM “following much consideration and with the health and wellbeing of our staff, clients and wider property community in mind”.
JLL withdraws
JLL was set to send 220 delegates to the conference, 69 of whom are based in the UK, according to the event database.
The agency said: “After careful consideration, we have decided to withdraw from MIPIM to ensure we can continue to protect the health and well-being of our employees and clients.”
LaSalle takes difficult decision
A LaSalle spokesperson said: “LaSalle Investment Management has taken the difficult decision to withdraw from MIPIM 2020 as a result of the spread of coronavirus across Europe. The health and wellbeing of our employees is our greatest priority.
“We have attended MIPIM for a number of years and we look forward to returning to future events.”
CBRE pulls out
CBRE Advisory Services and subsidiaries, EMEA, stated: “With the safety and wellbeing of our people at the forefront of our considerations, we have decided to withdraw CBRE’s attendance at MIPIM this year, in light of the confirmed cases of coronavirus in Continental Europe.
“We continue to monitor and assess our attendance at all upcoming events and associated travel.”
The agency had expected to dispatch 124 employees to the conference, 43 of whom are based in its UK offices.
Avison Young cancels
Avison Young has withdrawn from both MIPIM and Berlin’s International Hotel Investment Forum.
The firm said: “As responsible global citizens, we believe we have a duty to support the World Health Organisation’s containment objectives, and to be mindful of the potential impact on wider communities beyond our immediate network.
“We are a people-first company and have taken this decision to protect our staff, our families and our wider communities.”
There were 61 Avison Young employees listed as attendees on the event database, 40 of whom are in the UK.
L&G suspends staff travel
L&G said it has withdrawn from MIPIM after suspending international travel for its employees for a month, and that it did not want to contribute to the spread and escalation of coronavirus.
EY steps back
A spokesperson for EY said: “After much consideration, EY has made the difficult decision to withdraw its participation in MIPIM due to concerns about the current outbreak of COVID-19 (coronavirus).
“As longstanding supporters of this flagship event, the EY decision was not made without serious deliberation. Yet, the precautionary measures that will ensure the safety and wellbeing of EY people remains our primary concern. We continue to closely monitor the situation. Our thoughts are with those impacted by the coronavirus.”
What Savills said
Savills said that “given the global concern regarding the coronavirus outbreak, and the increasing number of cases in Europe, together with the fact that MIPIM involves many thousands of people travelling from multiple countries across the world, in the light of developments over the past week, the firm considers that it would be inappropriate to attend”.
Mark Ridley, group and global chief executive of Savills, said: “Due to the scale and size of this conference, and the importance of the event to our industry, this decision has not been taken lightly but our absolute priority is the welfare of our staff as well as avoiding any service disruption to our clients in light of increased coronavirus cases across Europe.
“Our thoughts at this time are with those affected in China, and all around the world.”
There were 252 attendees from Savills listed in the event database; of these, 135 were travelling to the conference from the UK.
Lloyds Bank withdraws
A spokesperson for Lloyds said: “We have taken the prudent and precautionary step to cancel our attendance at this year’s MIPIM. This is not a decision we have taken lightly, but the health and well-being of our colleagues and clients is of paramount consideration.
“In the light of concerns around the increasing number of coronavirus cases now occurring in Europe, we now feel it poses too great a risk to our own colleagues’ health to attend. We have had a long-standing presence at MIPIM and we look forward to returning to future years’ events.”
Knight Frank on its decision
Knight Frank stated: “The evolving nature of COVID-19 in Europe has forced us to reconsider our presence at large multinational events.
“To that end we will no longer be attending MIPIM. The health and security of our people and clients is of utmost importance and this has to be prioritised over all else.”
According to the event database, 52 delegates from Knight Frank were set to attend the conference, including five from the UK.
Major exits
Other attendees that have decided not to attend the conference include investment giant PGIM Real Estate, which had expected to host an exhibition at the event and send almost 40 members of staff.
A spokesperson for the firm stated: “PGIM Real Estate has taken the difficult decision to not attend MIPIM 2020 due to the ongoing spread of the coronavirus.
“The health and wellbeing of employees and our clients is, and always will be, our utmost priority.”
Cushman & Wakefield’s statement
Cushman & Wakefield was the first big property firm to withdraw from the conference.
C&W stated: “The health and safety of our employees and our clients is our priority. With the rapidly increasing number of cases of coronavirus in Europe and the elevated industry-wide concern around attendance at large multinational events, we have decided to withdraw from MIPIM.”
Last week there were 133 people from the agency listed as attendees. C&W was an exhibitor at the event and had named 26 attendees from the UK alone, including Colin Wilson, chief executive of its EMEA business.
Firms that were reviewing the situation
Until this point, firms including Schroders were understood to be making their decisions next week. Major agencies and landlords are currently reviewing whether to attend the conference.
Hines previously stated it is “currently still planning to attend”, but is “monitoring the situation and will take a decision by the end of the week”. Patrizia will decide next week.
Aberdeen Standard Investments, Brookfield Properties, British Land, U+I and BNP Paribas Real Estate were also reviewing the situation.
Deutsche Pfandbriefbank, Orion Capital Managers and Unibail-Rodamco-Westfield were monitoring the situation “closely”.
Developer Panattoni had cancelled its annual party, but planned to make a decision next week on whether to attend the fair.
