Optimistic mood at Expo Real 2009 despite 15% fall in attendance

The mood at Expo Real 2009, which ended at the Munich Trade Fair on Wednesday, was one of cautious optimism and, in some quarters, even less-guarded anticipation of a near-term surge in business after three days of intensive talks and meetings. Organisers reported a fall in attendance of around 15% to 21,000 visitors from 73 countries, plus 14,750 exhibitor representatives, which meant the 12th annual trade fair hosted over 35,000 participants in all. "If you consider the worldwide decline that the property industry has experienced, this is an outstanding and welcome outcome" said Messe München board member Eugen Egetenmeir. "Expo Real has again proved itself to be the definitive networking platform for the sector." Said Georg Allendorf, newly-designated head of Deutsche Bank's RREEF Germany: "Many more conversations about property transactions and with institutional investors took place this year than in 2008" Christian Sautter, Deputy Mayor of Paris and President of the Paris Development Agency, was conducted discussions, among other topics, on President Nicolas Sarkozy's far-reaching Grand Paris redevelopment scheme. "Expo Real is a brilliantly-organised working trade fair," Sautter said. "These days that is particularly important. Here you meet investors and money." After attendees from the local market Germany, the next most numerous were from UK, Austria, Netherlands, Switzerland, Poland, France, Czech Republic, US, Russia and Luxembourg. Attendees this year were agreed that the general mood contrasted greatly with rapidly sinking spirits during Expo Real 2008, when collapsing markets in the immediate aftermath of Lehman Brothers' implosion brought a sense of riding in a spaceship capsule watching the world around on tv screens sink into turmoil. (Full story upcoming in next issues of PFE/PIE)