In times of financial turmoil there is no shelterThe market decided in favour of economiesBut Xavier Huillard group is a debt of 15However its Comex division decreased by 17It needed to realize a capital gain of 88At their turn the Switzerland the Luxembourg and the Austria surrendered Friday to the pressures that were correct on the eve of Andorra the Liechtenstein and the Belgium read the Echos from March 13The International Trade Union Confederation is bornTheir starting point is a very common findingThe metropolis is not so in its death throes1 of its operating income EUR 157 millionSenior global appointments of the sector, the international market of professionals in real estate (Mipim), which was completed Friday at Cannes, blew its 20 candles in sobriety. "Accreditation of exhibitors and visitors have declined this year of 25 for approaching the 18.800 against professional 29,000 last year," said Thierry Renault, responsible for real estate at Mipim, Reed Midem Organizer. But attendance declined (with still more global investors 3,500), however the Mipim has little lost exhibition surface. With 20,000 m2, it has decreased in a year of 3,000 m2 and has confirmed that the crisis had reconfigured the global real estate market.
New markets, more spared by the crisis that the stars of the past years, are mounted in power. "Abu Dhabi and the Qatar have taken over in Dubai and there including a rise of Latin America, including the Brazil where stimulus launched in recent years policy has borne fruit," Note Thierry Renault.
Attract investors
Round tables of professionals around the world on the crisis have confirmed the perception that the France and the Germany were the most resistant developed markets now, even though London, full stagnation, had been a thrill. "The France is by far the best market in the world for real estate business", supports the BNP Paribas real estate leader, Philippe Zivkovic. In fact, the Mipim has experienced a mini-événement: this year the France down for the first time Great Britain at the forefront of the participating countries, with respectively 1,100 accreditations against 1,083.
Another development supported by this Edition, the elect of high level are more reluctant to come and to roll up their sleeves to attract investors. Especially out of the projects of the rut, as the Mayor of London Boris Johnson, who called to invest in real estate program of 9.3 billion pounds of the Olympic Games of 2012, or the Russian Deputy Prime Minister Dimitri Kozack, come start the same appeal for Sochi 2014 Winter Olympics. The French Minister of the relaunch, Patrick Devedjian, has he unveiled the model of the towers Hermitage (323 meters, or 1 metre less than the Eiffel Tower). His work, for a cost of 2.5 billion euros, must begin the year next to a delivery to the end, 2014 in the redevelopment of the defence. Sign of the times: in the alleys of Mipim, some doubted that it kind of Earth, noting that his sponsor, the Russian Mirax, deemed to be in difficulty, had cancelled during the year its traditional to Mipim participation. "It is false, rebelled leader of Hermitage, Emin Iskenderov.". The project will be funded to 20 or 25 equity and we signed a credit agreement for the balance with a Credit Union last year, and an endorsement in February. "Mipim has thus varied between reassuring speeches and very dark forecasts. "In the light of existing debt and banking covenants will not be respected, European offices sector will need an injection of own funds of hundreds of billions of euros in two years", said Peter Hayes, from Pramerica, a round table entitled "Whither the European real estate market." The question remains.
