Sway --> MIPIM 2022. Our impressions. - workcloud24

MIPIM 2022. Our impressions.

MIPIM is the world’s leading real estate market event. In 2022 it took place in Cannes, France on March, 15-18th.

Hubert Abt, CEO of New Work and workcloud24 took part and shares his insights.

When we participated in the MIPIM in September 2021 it was not clear to me if the event will ever make it back to its previous strength.  After visiting the MIPIM now in 2022 I must confess that the organisers did a good job. 

It was not the MIPIM which we saw before the Pandemic, it was even better. Less people, less yachts, less show-off and more work and serious conversations and discussions. The focus was on ESG and of course the war in Ukraine also took its part in every discussion.

The prop-tech forum also got a fair share, and it seems that flex has finally made its way through the ranks to the top 10 of the office industry.

All in all, it gives me hope that we are on the right way, but in discussions off the record it also becomes clear that we have a long way to go, and the industry is not aware yet about the transition risks which come along for those who don’t take ESG serious.

The year is not even 3 months old, and we are already facing more challenges as in the 18 months before, like the inflation, volatile forex exchange rates, raising interest rates or increasing energy prices.

This leads to at least 10% price increase, only to cover higher costs, which makes it even harder to achieve premium by upselling services. As a result, those who stick to Space as an Office will face very hard times, compared to those who are switching to Space as a Service tailor made to clients’ needs, achieving an upside on their margin is still possible.

As Robert M. Solow, the Noble laureate in economics in 1991, once said about Sustainability: “The less you know about it the better it sounds “ he meant it’s vague and hard to measure, this definitely has changed as due to today’s grade of digitisation everything is measurable and greenwashing finally will come to an end.

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