London, July 3rd, 2017 – Global international investors remain committed to the UK real estate market despite the ongoing uncertainty over Brexit.
These are the key findings of a survey of 60 of the world’s leading institutional investors who together manage over $600 billion in real estate assets, which was published to mark the launch MIPIM UK 2017.
Nearly half (46%) of the investors, who gathered at RE-Invest Summit at MIPIM Cannes in March 2017, said they intended to continue with the same level of investment in UK property following the triggering of Article 50, which began the process of the UK’s withdrawal from the EU.
Meanwhile, the survey, undertaken by KPMG, found that 44% of respondents said their organisations would slow down investment in the UK, while only 10% said they expected to stop investment altogether.
When asked which cities would be likely to benefit from increased inward investment as a result of the UK leaving the EU, nearly a third (30%) stated they did not believe Brexit would have a material benefit on any other city, with London expected to retain its preeminent status as a global financial centre, regardless of whether the UK is in or out of the EU.
Others said Frankfurt (23%) and Dublin (22%) were likely to be the main beneficiaries of Brexit.
Now in its fourth year, MIPIM UK will reflect this shifting landscape – both the threats and the opportunities – in its theme UK Real Estate: The Next Chapter, with the content of the programme exploring the profound and far-reaching impact the changes will have on the industry.
MIPIM UK, which runs from 18-19 October at London Olympia, targets leading real estate decision-makers operating at a national, regional and local level in cities throughout England, Northern Ireland, Scotland and Wales.
Ronan Vaspart, Director of the MIPIM events said: “The survey demonstrates the continuing strength of the appetite among global real estate investors for opportunities in the UK real estate market, despite ongoing economic and political uncertainty, and highlights issues that will be explored in detail at MIPIM UK in October.
“The issues and challenges the UK is facing, alongside the opportunities, will be explored in depth during MIPIM UK, which brings together investors, developers, local authorities, government and leading figures from across the property industry. Amid all the uncertainty there is incredible opportunity and this dynamic makes MIPIM UK more relevant and essential than ever,” noted Ronan Vaspart.
Organised by Reed MIDEM, a subsidiary of Reed Exhibitions, MIPIM UK conference sessions will provide analysis and debate of key issues, including infrastructure, regeneration, housing, the aging population, urban logistics, retail investment, the future of the workplace, innovation and proptech.
MIPIM UK will also host an Investors’ Summit and a Mayor’s think tank and will feature leading thinkers and speakers from across the property industry, as well as politics and economics.
Andy Pyle, UK Head of Real Estate at KPMG, said: “What Brexit means for the real estate sector remains unknown long-term, unfolding day-by-day. That’s why there is a vital need to be prepared for the unexpected. Uncertainty naturally has an impact on the industry’s attitude towards investing in the UK, but these attitudes also vary by investor, the origins of capital, investment strategy and the stance on Brexit.”
About MIPIM UK:
MIPIM UK – is the largest domestic exhibition and conference for property professionals, providing a marketplace for UK players and international investors to meet, discuss projects and opportunities and to do business. The two-day event takes place at Olympia on 18th-19th October 2017.
MIPIM – the world’s property market is the leading and largest global property event. The four day event takes place annually in Cannes every March. 24,200 delegates attended in 2017 with 5,000 investors, and 100 different countries being represented.
About Reed MIDEM:
Founded in 1963, Reed MIDEM is an organiser of professional, international markets that are essential business platforms for key players in the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR in Cannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television and digital content industries; MIDEM in Cannes for music professionals; Esports BAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM UK in London, MIPIM Asia Summit in Hong Kong and MIPIM PropTech Summit in New York for the real estate industry; MAPIC in Cannes, MAPIC Russia in Moscow, MAPIC Italy in Milan, MAPIC China Summit in Shanghai and IRF brought by MAPIC in Mumbai for the retail real estate sector.
About Reed Exhibitions:
Reed MIDEM is a division of Reed Exhibitions, the world’s leading event organiser, with over 500 events in 43 countries. In 2016 Reed brought together over seven million active professionals from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organised by 41 fully-staffed offices. Reed Exhibitions serves 43 industry sectors with trade and consumer events. It is part of the RELX Group plc, a world-leading provider of information solutions and analytics for professional and business customers across industries. www.reedexpo.com