On October 17, the Barcelona Meeting Point 2019 welcomed the inaugural edition of the Mediterranean Real Estate Forum that turned the spotlight on the sector as a key factor for the economic development of the Mediterranean region.
The Mediterranean is the region where the real estate industry is growing the most globally, with an estimated population of 500 million expected to reach 572 million by 2030. According to Ahmed M. El Wakil, President of ASCAME and President of the Alexandria Chamber of Commerce, four countries (Egypt, Turkey, France and Italy) will account for 60% of the total inhabitants of the area. For this reason, the forum focused on how real estate can become an answer for urban growth and increasing need for sustainable development in cities, among others. International speakers from the public and private sectors also discussed the decisive role of the urban lifestyle of millennials, as well as the increasing representation of women in the sector.
“The construction market of rental housing is increasing because millennials have different preferences due to their new kind of lifestyles. Renting is preferred due to high rates of mobility, as people want to be able to move from one city to another.” - Javier Kindelan, CEO of Valuation Advisory EMEA and Vice President of CBRE Spain
“In Spain, 60 % of the professionals in the sector are women and 45% of the transactions are carried out by women.” – Ramon Riera Torroba, President of FIABCI- España and the European Region
The main organizers of the event were El Consorci de la Zona Franca de Barcelona, Barcelona Chamber of Commerce, ASCAME (Association of the Mediterranean Chambers of Commerce and Industry), FIABCI and IHRA (International Hotels & Restaurants Association). One of the highlights of the event was the signing of an agreement between FIABCI and ASCAME to further promote the real estate industry in the Mediterranean region.