MIPIM 2012 - Wrap-Up Keynote address from Francois Ortalo-Magne
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Transcript of MIPIM 2012 - Wrap-Up Keynote address from Francois Ortalo-Magne
Prof. François Ortalo-Magné Albert O. Nicholas DeanWisconsin School of Business
MIPIM 2012:Insights from participants
How is your business activity this quarter compared to same quarter last year?
Better
Same
Worse
49%
41%
11%
Why
• Tedious transition
• High stakes• The crisis
How
• Transparency• Control• Alignment• Trust
What
• Core: • Fixed income• Relative to
financial assets• Non Core:
• Alternative
A new paradigm for real estate investment?
Is now the time to invest beyond core/safe real estate assets?
Yes
No
70%
30%
71%
29%
2012 2011
Is the state of debt markets an impediment to your activity or an opportunity to make profits?
Impediment
Opportunity
53%
48%
Has uncertainty about the fate of the Euro affected your activity?
Yes
No
55%
45%
Low Risk
• Fiscal responsibility
• Social responsibility
• Local DNA
Spillovers
• Infrastructure• Catalysts• Cultural change
Concerns
• Who pays?• Elections• National
framework
Proactive and competitive cities
What do you consider the biggest impediment to investment in your city or region?
Political climate
Local economic fundamentals
Competition from other cities
Global economic conditions
13%
23%
28%
37%
What competitive advantage did you emphasize here at MIPIM to make your city attractive to investors?
Growth
Infrastructure
High-tech base
New vision
Location
14%
16%
16%
20%
34%
How has MIPIM changed your outlook?
More Optimistic
Same
Less Optimistic
54%
43%
3%
What is your perspective on your real estate market compared to same time last year?
More Optimistic
Same
Less Optimistic
50%
35%
15%
Are you planning to hire this year?
Yes
No
64%
36%
In conclusion
• FT this morning– “Bondholders back Greek bailout”– “Too much information –
are regulators overwhelmed?”• Core real estate: safe yield asset class• Cities as supporting-coordinating structures• A professional MIPIM
Survey conducted by
The Wisconsin Real Estate MBA Class of 2013With the support of Prof. Erwan Quintin