Sir Sadiq Khan is set to attend the world’s leading real estate event, the MIPIM property conference in Cannes, marking his first-ever appearance at the high-profile gathering.
The annual four-day event, which attracts some of the world’s biggest property developers and investors, has long been a favoured destination for previous London mayors, including Boris Johnson and Ken Livingstone. However, until now, Sir Sadiq has opted to send a deputy rather than attend in person.
The BBC reports that the Mayor of London will travel to the French Riviera in March, in what is widely seen as an effort to strengthen economic ties and promote investment opportunities in London.
Focus on economic growth and investment
City Hall has not officially commented on Sir Sadiq’s attendance, but his decision to go could signal a shift in approach, aligning with the Labour Government’s commitment to stimulating economic growth. With ministers prioritising house-building and infrastructure development, the mayor’s presence at MIPIM may be a move to attract much-needed private sector investment into the capital.
MIPIM, which stands for Le Marché International des Professionnels de l’Immobilier (The International Market for Real Estate Professionals), is one of the most influential gatherings of investors, developers, and city planners. The 2024 event will feature over 20,000 delegates from 90 countries, including investors managing a combined €4 trillion in assets.
Tickets for the conference start at €870, with premium access available for up to €3,190. This year’s event will be opened by Mario Draghi, the former Italian Prime Minister and European Central Bank President.
A mayor on the move
Sir Sadiq’s upcoming visit to Cannes will mark his 20th official trip abroad since taking office. He recently travelled to Poland and has plans to visit Africa in the near future. While some critics have questioned his international trips, the mayor has pointed out that his predecessor, Boris Johnson, made 37 such visits during his tenure.
Last year, Sir Sadiq sent Jules Pipe, the Deputy Mayor for Planning and Regeneration, to represent London at MIPIM. During his visit, Pipe accepted nearly £550 in speaking fees, including £243 from BusinessLDN and £300 from the Berkeley Group, a major British property developer.
London’s property market and housing crisis
Sir Sadiq’s decision to attend MIPIM comes amid ongoing concerns over London’s housing crisis. The mayor has repeatedly pushed for greater funding from the government to support affordable housing projects, but private sector investment is also seen as crucial to meeting demand.
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Boris Johnson, when speaking at MIPIM in 2014, famously joked about the lobbying culture at the event, suggesting that MIPIM could stand for “May I push you in the Med?” or “Meet me in the pool in a minute?” However, he went on to argue that it truly meant “Making important property investments for millions of Londoners on modest incomes.”
This year’s conference will feature speakers from several UK local governments, including:
- Shantanu Rajawat, Labour Leader of Hounslow Council
- Liam Robinson, Labour Leader of Liverpool City Council
- John Walsh, Chief Executive of Belfast City Council
Their participation underscores the increasing role that regional UK leaders play in attracting foreign investment.
What to expect from Khan’s visit
As London faces rising housing costs, infrastructure challenges, and economic uncertainty, Sir Sadiq’s attendance at MIPIM could serve as an opportunity to showcase the capital as a prime investment destination.
The event may also provide a platform for the mayor to discuss housing, transport, and green urban development with international stakeholders. Given Labour’s emphasis on boosting economic growth, his presence could be a signal that City Hall is serious about attracting large-scale private investment.
While some may view the visit as overdue, it represents a significant shift in strategy for Sir Sadiq, aligning London’s economic agenda with one of the most prestigious real estate forums in the world.
