MIPIM remains one of the most important gatherings in the global property calendar, bringing together investors, developers, lenders and advisors from across the built environment.

Several colleagues from Hollis attended the 2026 event in Cannes. Over four days, the team hosted over 450 clients while attending over 30 meetings and industry events. In this Q&A, Mark Hampson, chief commercial officer at Hollis, shares his reflections from the week.

What was the mood like at MIPIM 2026?

The 2026 edition of MIPIM will be remembered as the one held amid a geopolitical earthquake, just as the European real estate market had been finding its footing.

That said, the overall mood was more positive than it had been in recent years, despite some understandable caution.

There is a view emerging that this conflict could positively impact European markets, as capital flows get diverted from the Gulf and investors seek real assets as safe havens in uncertain times.

It is felt that London could attract capital that may otherwise have been spent elsewhere.

What is currently driving the real estate market?

Refinancing is the dominant theme. Amend and extend strategies, recapitalisations and restructurings are far more common than new acquisitions.

Many sponsors can refinance performing assets, which reduces the need to sell and postpones the price clarity the market needs to move forward.

The living sector and data centres continue to attract the strongest investor interest, though significant barriers to delivery remain; institutional capital remains intensely focused on prime assets, as the gap between high-quality assets and those facing obsolescence continues to widen.

Industrial and logistics remained very strong. Some of the portfolio managers we spoke with described it as a particularly good year for multi-let logistics platforms, which is supported by low numbers of completions and steady demand.

Retail was another sector where sentiment has stabilised. Pricing has adjusted, and investors are comfortable with the returns available. It was common to hear that if you have strong tenants and good occupancy, retail assets can offer attractive yields.

How prominent were sustainability and cost discussions at MIPIM 2026?

They were central. Clients want to know the cost of getting assets to net zero, how to reduce operational energy use and what level of certification or performance they need to target.

This is especially important in sectors with tighter margins, where energy savings can have a direct commercial impact.

Hollis is increasingly being asked to advise not just on compliance, but on practical routes to better-performing assets.

What were your main takeaways from MIPIM this year?

One of the biggest takeaways is that technical due diligence has become more critical than ever. Investors and lenders want much more forensic detail about the assets they are backing.

As many investors focus on growth opportunities, there is greater scrutiny on how assets will perform and what capital expenditure may be required. In a market where institutional capital remains concentrated on prime stock, a clear understanding of building condition, performance and risk is playing a bigger role in investment decisions.

Another key theme is refinancing. There is a significant amount of refinancing and restructuring happening across the market, and clients want detailed advice on capital expenditure requirements, asset performance and the potential value creation opportunities.

Construction costs remain a key consideration. In sectors such as living, where delivery is central to the investment case, understanding cost exposure is essential. This is especially relevant in a market still dealing with inflation, supply chain pressure and a cautious approach to development risk.

Another key takeaway is the growing importance of sustainability in development and asset management. As the gap widens between stronger assets and those at risk of obsolescence, owners and investors are spending more time looking at energy performance, retrofit requirements and the route to lower carbon operation. For many assets, the question is no longer whether this work will be needed, but how quickly a practical plan can be put in place.

What should investors and developers take away if they did not attend MIPIM 2026?

The main message is that face-to-face time still matters. MIPIM creates opportunities that do not come about from behind a desk – whether that is a planned meeting, a quick coffee or an unplanned conversation that changes how someone looks at risk or opportunity.

For investors and developers, the value lies in hearing how others are pricing deals, managing uncertainty and solving technical problems in real time.