New developments are being frozen or cancelled on a large scale throughout Europe, but there are still opportunities for redeveloping existing assets, according to Glenn Aaronson, CEO of Multi Corporation. Speaking at a press lunch at the Mipim trade fair in Cannes, Aaronson welcomed the trend, saying it would be 'a good thing' for the European real estate industry. 'It looks as though "green" has been off the table since the crisis, but redevelopment is one way of getting it back on.'
New developments are being frozen or cancelled on a large scale throughout Europe, but there are still opportunities for redeveloping existing assets, according to Glenn Aaronson, CEO of Multi Corporation. Speaking at a press lunch at the Mipim trade fair in Cannes, Aaronson welcomed the trend, saying it would be 'a good thing' for the European real estate industry. 'It looks as though "green" has been off the table since the crisis, but redevelopment is one way of getting it back on.'
Another trend that Aaronson sees is the new role that insurers are starting to play in the financing market. 'It's already happening in the US and it looks set to become more important in Europe as well,' he said.
While new projects are being stalled throughout Europe, in its home market in the Netherlands Multi recently succeeded in getting a number of new developments off the ground, said Marcel Kokkeel, managing director of Multi's Dutch operations.
See the next edition of PropertyEU for an in-depth interview.
