Ireland Makes Debut At MIPIM In Week Trump Warns Over Big Pharma
In the week when U.S. President Donald Trump sounded alarm bells about Ireland “stealing the U.S. pharmaceutical industry” during a meeting with Irish premier Micheál Martin, the country also made its first dedicated appearance at real estate event MIPIM in Cannes.
Two events were held in association with The Ireland Strategic Investment Fund at the Carlton Hotel, Cannes, along with a host of Irish real estate players, in a bid to attract international investment.
In Washington, Trump has repeatedly taken aim at Ireland’s historical low-tax policies that have helped lure U.S. multinationals, with big pharma now driving Ireland’s €72B in annual exports to the U.S., as he told reporters in the Oval Office he was determined to take back his country’s wealth.
MIPIM, along with Expo Real in Munich, is a giant of European real estate events and attracts a huge number of countries, regions and cities putting their investment case forward. Ireland chose to establish its presence with two panels covering the residential sector and investing in Ireland, backed by a number of major players in the Irish market.
“Housing supply is crucial for the future success of the country, and Bank of Ireland is determined to play our part," Bank of Ireland Head of Housing & Development Finance Nikki Canavan told attendees.
Last year the bank increased its funding available for new housing by 40% to €2.5B, including €1B for social and affordable projects. That is currently funding the building of 21,000 homes, and it is seeking more shovel-ready projects, big and small, Canavan added.
“As a responsible long-term investor, we are proud to have been one of the most active developers and asset managers in Ireland over the last 15 years, and we remain committed to the Irish market for the long-term,” Kennedy Wilson Europe President Mike Pegler said, citing a strongly performing economy, skilled workforce and growing population as the key demand drivers.
“We believe there are attractive prospects for both the residential and commercial sectors in the years ahead,” he said.
The event was dubbed the Irish Pavilion and included networking for potential investors alongside the two panels.
For an event on the future of international investment in Ireland a bit closer to home, sign up for Bisnow's Dublin Real Estate Outlook 2025 on 3 April.
