Milan Vajda
For 10 years, the city of Bratislava has been acting as if international real estate trade was not its concern. Consequently, it lost real contact with prices for real estate resulting in a desperate lack of Western-style retail, office, and residential real estate market, as well as central parking systems management.
This was underscored by far from standard incentives for any foreign direct investment influx under the previous central administration [the government under Prime Minister Vladimír Mečiar]. Only recently, the 11th MIPIM International Real Estate Fair in Cannes finally saw Bratislava as one of its participants. It was the beginning of the acquisition process for the SNP Square development project.
The MIPIM International Real Estate Fair on the French Riviera is a Formula One Grand Prix in the world of real estate. Founded in 1990, it has become the largest professional event presenting the most significant projects, trends and strategies of the real estate business.
Every year, MIPIM is visited by more than 12,000 experts in the real estate, banking, architecture, urban planning, construction and local government sectors. This year, 4,900 companies from 62 countries displayed stands and models in the 13,000 square-metre exhibition area of the famous Palais de Festival and its brand new extension Espace Riviera.
Although incomparable to any other event, MIPIM adds up to far more than just a bigger capacity of stands, models, special events, and exhibitors than any other event. Its success and potential has been formed by a unique alchemy of assets, patiently developed over the last decade, which now have the power to bring together decision makers from leading international real estate companies each year to negotiate and discuss new ideas.
Taking part in professional fairs and exhibitions is one of the traditional instruments of marketing communication. Above all, MIPIM offers an opportunity to link new contacts and build mutual business relations.
Having participated in MIPIM, Bratislava put itself back on the international real estate map. Slovakia's capital city display has been widely attended by international consultant companies, investment bankers, architects, construction firms, central parking system managers, and retail real estate developers.
Despite the world getting smaller and globalised, it is becoming vital to promote and advertise opportunities for investments in the local real estate market. Bratislava's exhibition cost almost 5 million crowns. This money will soon be recovered through new investments to the city.
Bratislava now has an obligation not to miss future MIPIM opportunities. Polish, Czech, and Hungarian cities are permanent and respectable clients of MIPIM. Their complete offers of investment opportunities come out of rich experience acquired at the fair. So far, the Bratislava list of real estate properties available for sale or lease in the city is only music of the future.
Milan Vajda is the spokesman for the Bratislava Old Town District Mayor. His column appears monthly. Send comments or questions to hovorca@town.sk.
