Asia Pacific is key theme at MIPIM 2012 this year with lots of interest from Europeans on both investing in Asia Pacific and how to get Asian equity into European projects.
It is great to see first hand the strong presence Jones Lang LaSalle has here, with a stand in the main exhibition area and what is usually described as a ‘tent’ on the beach. Tent under sells it considerably. The team here is doing a terrific job shepparding large numbers of clients into meetings in the main dinning area and meeting rooms, keeping everyone fed and watered.
Yesterday, I attended a Japan Breakfast with very interesting key speakers from Mitsui Fudosan and the Ministry of Land, Infrastructure, Transport and Tourism. Questions from the audience were on Tokyo office markets re-gaining momentum following last year’s difficulties, and there was a positive consensus in the room.
We then had two panels on the wider Asia Pacific picture followed by the MIPIM Asia lunch, hosted by the City of Chongqing with an extensive delegation from the city. I sat between a Taiwanese developer with developments in the Middle East and a French investor looking to make his first entry into the Asian markets – something we hope to help with.
The afternoon saw a well attended RICS Asia Pacific reception hosted by the global RICS President Ong See Lian. Again there was a big Asian presence and Europeans who have yet to invest in Asia Pacific were interested to find out that we have valuation standards and due diligence comparable to that in their home markets.
The Asia Pacific theme continues today, with clients expressing great interest in the upcoming Jones Lang LaSalle report China50 – Fifty Real Estate Markets that Matter. It’s an excellent report demonstrating a depth of detailed knowledge on secondary and tertiary cities in China. It’s very well timed to expand on some of the themes in the new World Bank report on China, released this week and looking at Government reforms up to 2030.
For me, the key take away from the week is that real estate markets are increasingly global; and the strength that Jones Lang LaSalle offers to clients is the combination of global reach along with detailed local expertise. Seeing colleagues from around the globe, discussing ideas and opportunities and meeting clients together demonstrates that connectivity, which is key to unlocking opportunities for clients globally and being able to provide the best advice possible.
