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MIPIM. Cannes. The Croisette. In the midst of Britain鈥檚 winter gloom, the idea would bring a smile to anyone鈥檚 face. And that鈥檚 before you factor in the average March temperatures of 55-58F, the steaming bowls of moules marini猫res鈥�

But seriously. MIPIM is a very serious part of the annual business calendar. Yes, indeed. All those clients with champagne glasses to be topped up, all those funders with millions to invest, all those networking opportunities packed into four days. If you were to arrange meetings with all the potential prospects on home ground, it would take, who knows how long?

Six months is the rule of thumb that everyone quotes. 鈥淭he problem is, anyone you ask will be trying to justify the expense,鈥� laughs David Bucknall, chairman of Bucknall Austin and a veteran of MIPIM since it started 15 years ago. 鈥淎nd everyone鈥檚 got their favourite story about the jobs they picked up at MIPIM.鈥� Bucknall himself can trace 鈥渢hree good-sized projects鈥� back to MIPIM 2004. 鈥淭hey all began with 鈥榮o you鈥檝e got an office in x鈥�-style conversations,鈥� he says.

Meanwhile, architect BDP is quite upfront that MIPIM 2004 bought its ticket to Australia. 鈥淭he managing director of ING Australia was floating by, and two weeks later we were on the shortlist for a major project in Melbourne,鈥� says chairman Nick Terry. Since winning the Melbourne role, BDP has picked up work on another three ING-funded projects, including one in its own backyard in Stevenage.

With evidence like that, it would take a very cynical spoilsport to deny the value of attending MIPIM. Part of its appeal, as Terry points out, is its size. The 15,000-16,000 participants mean that MIPIM dwarfs the scale of the nearest UK equivalents, such as the 1,000-1,200 delegates at the annual British Council for Offices conferences.

It gives you time to take stock and pick up knowledge to guide the business forward鈥�

David Bucknall, Bucknall Austin

So if you鈥檙e looking for a shop window in which to present your development project or unique skills to the rest of the property world, MIPIM is Oxford Street, Faubourg-Ste-Honor茅 and Fifth Avenue combined. 鈥淭hrough going to MIPIM, our profile has risen considerably. We鈥檙e now seen as an important player in the property sector,鈥� says Daire Hearne, business development manager for Arup.

And business psychologists would agree that the sunshine and alcohol really can oil the wheels of business. When you meet someone in Caf茅 Roma or Morrison鈥檚 Irish Pub, they鈥檙e relaxed, you鈥檙e relaxed, the normal business defences are down. Without the pressures of delivering the day job, both parties are more receptive to new ideas.

The firms contacted for this article all said they travel to MIPIM with a finite hospitality budget, but also with a co-ordinated strategy to target particular groups and cement relationships with existing clients. Back home, most go through some kind of post-MIPIM evaluation exercise, basing their decision on whether to attend the next MIPIM on the outcome.

Private companies tend to be hazy on the cost-benefit calculations, but public sector organisations have to be as open on MIPIM costs as on any other form of investment.

Through MIPIM, our profile has risen considerably in the property sector鈥�

Daire Hearne, Arup

For instance, this year, the Advantage West Midlands Regional Development Agency (AWM) is investing 拢90,000 of public funds in an exhibition stand and renting a Cannes apartment in its fourth trip to MIPIM. In addition, private sponsors joining their stand raise 拢100,000.

鈥淲e have to be fairly rigorous on where our money goes,鈥� says Mike Goodall, head of marketing. 鈥淏ut MIPIM does play a part in generating development opportunities on our land and property holdings, and we鈥檙e able to demonstrate that quite clearly.鈥� AWM has used MIPIM to launch design competitions that drew strong developer interest, and closed a deal on one site in its portfolio last year.

David Bucknall says that MIPIM鈥檚 melting pot also makes it an ideal place to soak up business intelligence and reassess where his firm fits into an ever-changing industry. 鈥淚t gives you time to take stock and pick up knowledge to guide the business forward.鈥�

And there is evidence that participants do have a thirst for knowledge. 鈥淟ast year, when we did a presentation on mixed-use development at Wembley with Quintain, the room was full to bursting,鈥� says Barry Munday, chairman of architect PRP. 鈥淭here isn鈥檛 a lot of conference-type activity at MIPIM, so it was an opportunity for people to actually learn something.鈥�

MIPIM does play a part in generating development opportunities鈥�

Mike Goodall, AWM

MIPIM 2005 will confront delegates with clear evidence of an ongoing trend. A decade ago, the buzz centred around the major private developers. Today, the balance of power has shifted in favour of the local authorities and public sector agencies that control access to the brownfield, mixed-use developments that have government priority.

That shift has widened participation. 鈥淧reviously we thought it wasn鈥檛 really our scene, and had more to do with the commercial sector,鈥� says PRP鈥檚 Munday. 鈥淏ut now housing, mixed-use and sustainable development are much more to the forefront, and the two worlds are beginning to merge and intermingle a lot more. But this is one of the few places where they can run into each other in an informal setting.鈥�

Munday鈥檚 practice offers a classic case study. Through occupying neighbouring positions on the London stand, the quietly successful social housing specialist met the secretive Hong Kong-based Parkview, developer of the Battersea Power Station scheme. The two established a somewhat unlikely business relationship that led to PRP being interviewed for a Parkview scheme, and could result in a future commission.

MIPIM. 鈥淚t鈥檚 a good start to the year,鈥� says BDP鈥檚 Terry. 鈥淎nd if you time it right, you can go skiing too.鈥� Seriously.