Dubbed "the world's premier real estate event for professionals", MIPIM 2011 is about to descend on Cannes. Running from 8 to 11 March, the occasion gathers together key players in the global real estate industry and Gibraltar's World Trade Center is preparing for its MIPIM debut.
Brian Stevendale, World Trade Center (WTC) Gibraltar's Business and Development Director, comments. "There is no better forum for the launch of WTC Gibraltar than MIPIM. Not only will it be an excellent platform for raising the profile of Gibraltar on the world stage, but MIPIM will also put us in face-to-face contact with potential occupiers of this 21st century office space of the future, the world's greatest address if you are in business. We are very much looking forward to four intensive days of networking and improving Gibraltar's international business relations."
With 20,000 attendees expected, MIPIM attracts investors, developers, architects, hotel groups, public authorities, consultants, asset managers and end-users all on an international matchmaking exercise. As each exhibitor markets itself as a reliable long-term investment, ideas are generated and cross-border partnerships formed.
Gibraltar's WTC certainly falls under the 'reliable long-term investment' umbrella. Brian continues, "Given current economic challenges, we believe that Gibraltar will gather a lot of interest at MIPIM and stand out as an exceptional investment prospect.
With over 99% of office space in Gibraltar currently either sold or let, there is huge demand for this World Trade Center particularly given our beneficial tax environment. Gibraltar offers the best, or equal best, tax environment in the EU including a new 10% low headline rate of Company Tax. There is no Capital Gains Tax, no Wealth Tax, no Inheritance Tax, no Sales Tax, no Stamp Duty on share transfers and no exchange controls. We are fully compliant with EU financial services regulation and 'passporting' allows firms and certain funds to offer their services and products throughout Europe on the basis of their Gibraltar licence."
The Rock's business friendly appeal doesn't stop there. Gibraltar has political and economic stability (5% GDP growth for year-end March 2010 and an all-time high budget surplus of nearly 10% of overall Government expenditure) and an English common law legal system.
Gibraltar's geographic location brings an advantageous time zone and proximity to investors and partners for face-to-face meetings. Personal lifestyle is also of a high quality with the award-winning marina resort of Ocean Village in particular attracting many high net worth individuals to its sumptuous residential towers complete with Health Club, swimming pools, bars, restaurants, premier yacht berths and Gibraltar's only casino on the doorstep.