At Cannes for MIPIM 2010
What do the international investors think about Romania?

Mipim 2010 exclusive photos coverage

The plane from Bucharest to Rome and then Nice was not full. People are not smiling and don’t look eager to arrive at Cannes, our destination. The Romanian “community” is not exactly what one could describe as “loud”. Just one residential developer (Panhol group) with future projects. Also one design and construction firm (Sommering). There is no architectural firm exhibiting with a stand. Thank God there are still several representatives of multinational companies who join their common stands together with their colleagues from all around the world. But as for Romanian Real Estate brokering and consulting company here, there is just one: My company, MORE Real Estate Services.

What happened to the world’s investors?

MIPIM is most probably the no.1 Real Estate exhibition of the world. If you don’t like the word “world”, replace it with “Europe” and you are 100% accurate. This is the event that sends a clear signal for what is coming up. But the official figures describe a rather melancholic atmosphere. 18.000 participants, “out of which 3.500 investors” (quoted by the official press release) are expected today and the following 3 days. In 2008 the same figure was 35.000. What happened to the world’s investors, developers and consultants? It is simple: During the crisis, they don’t find any reason why to explore the international markets, while they have lots of opportunities back home. And plenty of problems too, allow me to comment. So, while budgets are cut, an exhibition with 1.550 euro (plus VAT 19%) ticket (and another 1.500 - 2.000 euro for other costs) is not the first priority for them. Not now, at least.

“Why are you here?”

Since 2007, I visit Cannes twice per year: As exhibitor at MIPIM and as visitor at MAPIC, another major event for retail and commercial segments. I arrived yesterday morning and organized all the small details of our stand. Plenty of people passed by, I also met a lot around the area of Palais de Festival. Their questions are almost the same: “Why are you here? What is going on in Romania? Is there anyone interested to invest down there?” Some of them were also ready to share with me a bad experience which happened to them during 2006 - 2008. I wish that all these arrogant shallow people in Romania (who talk about the market just by meeting five - ten people in Bucharest) were here, next to me. To listen, to understand, to feel the damage of their actions during the previous years. But, thank God Romania is not just them…

Romania is still one of the best place to invest around Europe

This is the fourth straight year I am present at MIPIM, representing Romania. This time it happens to be just my company. But this is not bad after all. We did not come here so as to cry and apologize for the mistakes of the past. Romania is still one of the best places to invest around Europe and has an excellent potential for the years to come. We have an advantage: We did not trick anyone in the past, so today there is noone to apologize to. We will focus to our core activity: Present Romania’s advantages and drawbacks identify the serious investors and find them properties and solutions.

Introducing “Romania Returns”

MIPIM is spread throughout Palais de Festival. But there are two main levels where 90% of companies exhibit: Level 01 and “Riviera”. While walking backwards towards the stairs from the Level 01, you can not miss a long horizontal banner on the wall: “MORE introducing Romania Returns”.

This year my company introduces to the international investors our new project: “Romania Returns”. We are here to explain to them that after all the problems of the past, they can come back and find more serious people to work with, more properties with attractive price (not too many though) and a country which sooner or later reaches the “rock bottom”. The business environment is definitely “healthier” now: Real investors have many good options to choose from, while speculators are still out of the game.

Quality, not quantity

My company’s stand is located at 01 level, our stand is 11.06. We really do not expect to have the traffic of the past, with over 140 (!) meeting reports in 2008. 2009’s figure had landed to around 35 - 40. We target quality though. I am more than sure that the visitors this year are definitely serious and didn’t come for vacation. I would be happy to reach the same volume with last year, ideally increasing the quality furthermore.

Presenting our new services

Except the basic services that my company used to offer, during the last 12 months we have expanded to many new types of Real Estate consulting, with custom made solutions. We have also focused into income properties, distressed assets, compact forests and agricultural lands. Last but not least, starting with 2010 our portfolio includes many interesting deals on the energy sector too, alternative energy to be precise (solar and wind).

Let us discover what do the international investors think about Romania

Now that you read these lines, MIPIM has already opened its gates to the public. Let us find out what is the latest scenario regarding the world financial crisis. When is the international Real Estate market expected to return? And above all… what do the international investors think about Romania…

Stay tuned for all the answers…

MIPIM 2010 exclusive photos coverage

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