Coronavirus fears: global property conference delayed until June

A property jamboree in Cannes, which attracts law firms and investors from around the world, has been postponed due to coronavirus fears.

MIPIM, a four-day real estate conference boasting over 25,000 attendants, was due to take place between 10 and 13 March at the Palais des Festivals in Cannes, France.

However, it has been delayed until 2 June after a number of major law firms withdrew at short notice.

Paul Zilk, chief executive of conference organiser Reed MIDEM, said:

‘This is not a decision we have taken lightly. We believe these new dates will provide the international MIPIM community with the opportunity to achieve their business objectives. We are grateful to our clients for their support and constructive input during this challenging period, and we look forward to talking with them in the coming days about MIPIM in June.’

Estates Gazette reports that Clifford Chance, Baker McKenzie, Norton Rose Fulbright and Morrison & Foerster were among firms that withdrew staff from the March conference.

Last week, millions of pounds were wiped off the value of stock-market-listed law firms following a market rout triggered by the spread of the Covid-19 coronavirus. The share price of Gateley has shown tentative signs of recovering this morning, rising to 182p from 170p on Friday. This time last month the share price was 216p.

Baker McKenzie’s London office, which closed last week when an employee became unwell after returning from northern Italy, has now reopened.

A spokesperson for the firm said:

‘We’re delighted to confirm that our employee has tested negative for the COVID-19 virus and our London office has re-opened today. Our priority is the health and wellbeing of our people and our clients, and we took these pre-emptive measures out of an abundance of caution.’

Kindly shared by The Law Society Gazette