This year, our CUUB team had the pleasure to attend an amazing event MIPIM 2024. MIPIM is the premier real estate event, showcased emerging trends and provided a platform for industry leaders to discuss the future of the market and get valuable contacts. This year, significant attention was on sustainable development, technological integration, and the rising importance of emerging markets, especially in the Middle East. And, of course, we highlighted some key trends during this event.
Credit: © S. d'HALLOY / IMAGE&CO
Sustainability
So, the first thing which caught our attention is that the industry's shift toward sustainability is undeniable. Developers are increasingly focused on creating green buildings and integrating eco-friendly materials and technologies, aiming for net-zero emissions and prioritizing the well-being of occupants. Also, the acceleration in smart city projects reflects the real estate sector's commitment to leveraging technology. These projects integrate AI, and big data analytics to improve urban living, focusing on efficiency and sustainability.
Credit: © E. HAUTIER / IMAGE&CO
Main investment markets
The second point, which we found one of the main reasons for our business, is the significant rise of Saudi Arabia and Oman markets. The Middle East, particularly Saudi Arabia and Oman, is emerging as a hotbed for real estate investment. These countries are launching large-scale projects, aiming to diversify their economies and reduce oil dependence. You will find the projects of the entire cities and huge resorts. Investments in transportation, utilities, and digital infrastructure are crucial for supporting new developments and enhancing the attractiveness of those regions for investors and residents alike. For instance, The NEOM project in Saudi Arabia is a prime example, promising to be a benchmark for future cities.
Credit: © S. d'HALLOY / IMAGE&CO
Global Giants: Urban Innovation and Development Across Continents
And, of course, while building and creating beautiful architectural shapes, developers and investors prioritize the creation of spaces that foster community and well-being. This involves designing public spaces that encourage social interaction and integrating health and wellness facilities into residential projects. But also, with climate change posing a significant threat, they are adapting properties that are resilient to extreme weather conditions and natural disasters. This includes flood-resistant buildings and communities designed to withstand high temperatures.
Credit: © S. d'HALLOY / IMAGE&CO
Great Britain: London highlighted significant global projects, including new skyscrapers, underground extensions, new canals on the River Thames, and unique landscaping programs. The city is set to receive over £100bn in cross-border investment in 2024, the highest in the world.
Credit: © E. HAUTIER / IMAGE&CО
Middle East: NEOM city, presented at MIPIM 2024, features groundbreaking technology, challenging the notion that year-round living in a desert region is impossible. The highlight is the Troena ski resort, part of a futuristic complex within NEOM. NEOM city presented its design and construction stages, featuring the Troena ski resort. The project, previously thought impossible in a desert region, includes ski slopes, innovative architecture, and an artificial ocean-type lake. Ski resort will offer skiing in winter and water sports in summer, with a total project cost of $500bn.
Credit: NEOM
Thailand and Japan: Thailand showcased high-end tourism projects, while Japan presented high-rise residential projects with advanced frame construction technologies, suitable for seismic regions.
In general, MIPIM 2024 underscored the real estate sector's dynamic nature, highlighting the innovative approaches and strategies that industry leaders are adopting to navigate the challenges and opportunities of the future. The focus on sustainability, technology, and inclusivity, especially in emerging markets like Saudi Arabia and Oman, demonstrates a clear vision for a resilient and thriving real estate landscape.