MIPIM 2026: conversations, context and a few takeaways

The real estate world is changing and MIPIM 2026 neatly reflected those changes.

An increased emphasis on wellbeing through run clubs, swim clubs and padel courts coupled with an even more pronounced global outlook reflected the world that MIPIM and real estate operates in.

Depending on who you ask, it is either the best week in the real estate calendar or something to be quietly apologetic about. The reality, as ever, sits somewhere more sensible.

For us, it remains one of the few opportunities in the year to step away from the day-to-day and spend time with a genuinely broad cross-section of the industry – clients, developers, investors, agents, advisers, and increasingly, people operating at the intersection of real estate, infrastructure and technology.

Yes, it is busy. Yes, it is sociable. But it is also, at its best, highly productive.

This year was no exception. Over a few days, we spoke to more people than we could reasonably count, some planned, many not, and that remains the real value of it. You get a clearer sense of where people are focusing their time, their capital and, just as importantly, their concerns.

What struck us most was a slightly more grounded optimism than perhaps we have seen in recent years. The challenges have not gone away, but there is a growing sense that the market is adapting rather than waiting.

A few reflections from the week.

What we took from MIPIM this year

1. Sustainability has moved from principle to pricing

There is very little debate now about whether ESG matters. The discussion is about how it translates into value – and, increasingly, how quickly.

2. 'Placemaking' is no longer an abstract concept

What we would once have described as placemaking is now simply expected. Schemes are being judged on their ability to create long-term, functioning places – not just deliver buildings. A sense of place and environment is central to urban regeneration projects.

3. Residential and living sectors continue to dominate attention

Unsurprisingly, capital is still gravitating towards residential assets, reflecting more stable demand profiles and a real focus on delivering residential schemes to satisfy housing demands.

4. Constructive lending market

Banks are re-engaging – particularly for core assets and strong sponsors. Leverage remains disciplined and transaction execution can still be slow – potentially reflecting a more cautious, geopolitically uncertain backdrop. Private credit continues to be active, especially in the mid-market where smaller, agile lenders – often using back-to-back leverage – are targeting transitional assets where speed and structuring flexibility are critical.

5, Data centres and digital infrastructure are firmly in the mainstream

What felt like a specialist sector a few years ago is now central to many investment conversations.

6. AI is starting to influence real estate decision-making

Not in an abstract way, but in how assets are managed, valued and operated – and how investors assess risk and opportunity.

7. There is a continued shift towards long-term, strategic development

Particularly for landowners and estates, the focus is on legacy – schemes that will perform over decades rather than cycles.

8. Cities are competing harder than ever for investment

Whether in the UK or internationally, there is a clear push from cities and regions to articulate a compelling, investable story and the number of global cites and centres in attendance at MIPIM reflects these drivers

9. Collaboration is becoming more important – and more complex

Projects are bigger, more nuanced, and require alignment across a wider group of stakeholders than ever before.

10. There is cautious optimism returning to the market

Perhaps the most notable shift – people are still realistic about the headwinds, but there is a sense that activity is beginning to move again.

Final takeaway

MIPIM is what you make of it.

If approached in the right way, it is not about the optics – it is about the conversations. The chance to reconnect, to test ideas, and to get a clearer sense of where the market is heading.

For us, it was time well spent!

This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.

© Farrer & Co LLP, March 2026