The message from MIPIM 2024: a corner has been turned?

The Savills Blog

The message from MIPIM 2024: a corner has been turned?

The annual real estate gathering in Cannes, MIPIM 2024, at the start of this month painted a picture of cautious optimism. While concerns about the markets remain – geopolitical tensions, elections, inflation, and monetary policy – a sense of "the list of worries shortening" offered a welcome change to the views expressed in 2023.

The end of ultra-low interest rates has fundamentally reshaped deal-making. While the monetary tightening cycle appears to be nearing its close, investors are still adjusting to the "new normal." Focus has shifted from capital appreciation to value creation strategies, with rental growth opportunities and strong management expertise now taking centre stage.

Despite the cautious outlook, real estate's inherent resilience as an asset class shone through. The residential sector, particularly discussions around diverse living concepts, attracted significant interest. Data centres, fuelled by the growth of AI and its demanding computing power, emerged as another area of strong investor focus. The logistics sector also displayed continued confidence, with active investor interest and improved buyer-seller alignment on pricing.

MIPIM 2024 highlighted the industry’s ability to find opportunities even amidst uncertainty. Investor strategies may change, pricing may fluctuate, and geographical focus may shift, but the core principle remains: there are always opportunities for those who can identify them.

Mega projects in developing markets were another intriguing aspect of the conference. The Ellinikon Commercial Hub in Athens secured the “Best New Mega Development” award, while the NEOM pavilion showcased Saudi Arabia’s future-oriented approach to development, prioritising sustainability, and innovation from the outset.

The MIPIM conference itself mirrors the industry's evolving priorities, transitioning towards a more conscious and inclusive future. Organisers are placing a stronger emphasis on diversity and inclusion, ensuring a wider range of voices, particularly women in real estate, are represented on panels.


Further information

Contact Eri Mitsostergiou

Savills Impacts


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