From Thursday 17 March 2016, Luxembourg was present for the 11th time at the 27th annual edition of the MIPIM real estate conference held in Cannes, France.
A national pavillion at the MIPIM (Marché International des Professionels de l'Immobilier), which is taking place this year from 15 to 18 March 2016, has been organised annually by Luxembourg's Chamber of Commerce since 2005. The Grand Duchy formed part of the 89 countries represented through the presence of 23,000 professionals meeting on the Côte d'Azur. By enabling the country's property players to gather under one roof, the pavillion helps Luxembourg's real estate actors to publicise their offers amongst foreign investors.
On Thursday, Deputy Prime Minister and Minister of the Economy of Luxembourg, Étienne Schneider, and Mayor of Luxembourg City, Lydie Polfer, attended the official reception at the MIDIM. The Deputy PM gave a speech highlighting the fact that 'Luxembourg Day' has now become a tradition, as well as ongoing government projects regarding tax reform expected to come into force in early 2017, which have involved investments of nearly €2 billion in the infrastructure sector. One such project is the rehabilitation of the Esch/Schifflange site.
CEO of the Chamber of Commerce, Carlo Thelen, equally brought attention to the strengths that the Luxembourg economy has to offer, which has expanded its booming financial sector with forays into ICT, FinTech, logistics, environmental technology, medical technology and the space industry. Other than Germany, it is the only EU country to hold a AAA rating. In 2015, the amount of investment in the Grand Duchy's commercial property sector crossed the threshold of €1 billion.
The two also highlighted the 'Third Industrial Revolution' project which was jointly launched by the two institutions in 2015 as a means of establishing a new economic growth model for the Grand Duchy based on the three sectors of ICT, renewable energy sources and sustainable mobility.
Luxembourg City Mayor, Lydie Polfer, reviewed the evolution of the capital over the course of the last ten years, whilst the Association luxembourgeoise des Fonds d'Investissements (ALFI) held an inaugural panel discussion on the latest trends in real estate funds.
Photo by Chamber of Commerce (L-R: Étienne Schneider; Lydie Polfer; Carlo Thelen)
