Gint-M traditionally participated in the international property investment event MIPIM that took place in Cannes on the Coast of Azure, on March 15 through 18. The programme was traditionally packed with business events, meetings and new acquaintances.
We could see the number of Russian delegates dwindling this year. The main reason for this trend is definitely the crisis: the financial standing of many companies barred them from the opportunity to visit such a large-scale international event. It should be noted, however, that the crisis served as a factor of natural selection, whereby only most efficient players of the home market traveled to MIPIM.
Most companies gave up stands, presentations and gala events, opting for business meetings and the discussion of relevant issues in an informal setting. The most notable informal event was probably the 6.7-km charity race VTB Arena Open along the Croisette Embankment. Managing Partner of Gint-M Mikhail Borisov also participated along with other like-minded fellows from his industry. In such fine weather the race could rouse only positive emotions.
On the whole, despite the low investment activity in real estate, the Russian participants of MIPIM looked and sounded rather optimistic this year. Having survived the period of turbulence in 2015, national companies have adapted to the crisis and learned to grope for non-trivial decisions in most challenging situations. Hopefully next year many Russian experts who came to MIPIM would be able to boast their successful experience of operating in the volatile market and to present new investment projects.