Why I thought EXPO REAL was really good this year

As last orders were being called on this year’s Oktoberfest, the heavy drinkers were being replaced by the business-suited real estate fraternity ahead of EXPO REAL 2023.

The last time I was here was in 2008. My absence a result of a lack of client attendance and interest.

My flight from Heathrow on Tuesday late morning was full and, on arrival, the passport security guard told me that ‘half of UK real estate’ must be here. Despite an expensive taxi ride to my hotel on the pleasant outskirts of Munich, I felt that it was a right decision to come (I wasn’t the only one – there were 40,000 delegates and 1,850 exhibitors from 36 countries this year, according to the official bumph).

As during my last visit on the cusp of the GFC, the mood was downbeat with much consternation about interest rates and the state of the economy. The A1/B1/C1 halls were very busy, but footfall thinned out as you went to the ‘3’ halls.

Naturally, the Germans were omnipresent, with banks, developers and cities and regions I had never heard of all enthusiastically promoting themselves. The corporate spend on some of the exhibition stands must be astronomical and I question how many were sustainable given our focus on ESG.

Of course, comparisons are drawn with MIPIM, the property market’s annual March sojourn to Cannes on the French Riveria. There, the sunny weather means that a lunch or meeting can take place on the beach or convenient local bar or restaurant.

Although it was sunny for this year’s EXPO, this is a feature solely missed within the confines of the Messe Munchen, which is also, not very conveniently, located on the far eastern edge of the city. A benefit is that unlike the Cannes ‘bunker’’(the Palais des Festivals), the Messe has halls like aircraft carriers: bright, airy, with a lot of natural light and good ventilation. This engenders a more ‘professional’ feel.

EXPO REAL has true international credentials, but while there was a strong presence from Mittel Europe other areas, most notably the Middle East, were sadly lacking. When asked for his take on EXPO, one UK Agency CEO said that it does a “functional” job, ie. it does what it says on the tin but is rather boring.

It was good to see the UK represented by UK Cities & Partners, which launched an interactive prospectus of more than £50bn of investment opportunities, but if we’re open for business post-Brexit, where was everybody else?

Will I be back? Yes. This is a major real estate event and it was a chance for me to refresh my understanding of the event and its value to clients. However, I’d advise the men among them to avoid the blue suit and white trainer look. It’s so passé – or should that be überholt?