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Reed MIDEM aims high in China property market

(chinadaily.com.cn)
Updated: 2007-04-28 14:05

Reed MIDEM plans to expand in the greater China region real estate market, and attract more property professionals to its upcoming conference and exhibition event in Hong Kong this year, said Paul Zilk, president and chief executive of the Paris-based exhibition specialist.

In an interview with the China Daily website, Zilk said the second MIPIM Asia event aims to invite more property developers, construction companies, international investors, end-users, lawyers, and hotel runners looking into the Asia Pacific region, China in particular, after a very successful gathering last year.

MIPIM Asia is a business-to-business show to bring together all the key actors in the professional international real estate industry, said Zilk. The first MIPIM Asia event in 2006 welcomed 2,000 experts from 48 countries. And the Chinese mainland and Hong Kong were well represented, accounting for 323 of the 956 companies that attended.

Asked about the reason why the China market is the focus for the French exhibition organizer, Zilk said demand for office space in China is robust, but reports have showed that some Chinese developers failed to integrate the requirements of the end-user in their initial plans. "By bringing the developers and end-users together, MIPIM Aisa can be part of the essential learning experience," said the chief executive.

In addition, legislation covering the levels of international investment in the Chinese real estate industry need to be fully understood, which is why the company holds detailed conference sessions at MIPIM Asia to address such subjects, he said. This year, the number of conferences will be enlarged to 20 from last year's 12, and the focus will be on China, according to Zilk.

MIPIM Asia needs to promote its presence in the region, Zilk said. "Even though Read MIDEM has been in the exhibition business for over 40 years and its annual property convention MIPIM has been existing and famous in Europe since 1990, we are not too well known here," admitted the experienced international manager.

The non-public event dealing with no residential property business will lean over on the greater China with a series of new features to attract more professional audience. One of the new feature this year, is the first MIPIM Asia Awards, which will honor outstanding achievements in the property sector in the region.

An assessment and award issuing commission will be set up by MIPIM Asia in June and take candidate projects since then. The candidates will be categorized in groups: shopping centers, offices, hotels, resorts and residential projects, and they will compete for a variety of awards in their own categories.

Asked about the recent tightening measures issued by the Chinese government with a fear of the bubbles in China's property market, which saw over 10 percent annual growth in prices in the major cities, Zilk said he was not too worried about that.