LAS VEGAS – Leading REALTORS® from throughout Nevada will be showing off real estate and investment opportunities in the Silver State by attending MIPIM, the world’s leading global real estate market, business conference and networking event, being held March 13-16 in Cannes, France.
Nine Nevada real estate leaders are attending the event, representing the statewide Nevada REALTORS®, the Greater Las Vegas Association of REALTORS® (GLVAR), the Reno-Sparks Association of REALTORS® (RSAR) and the Commercial Alliance Las Vegas (CALV).
They include Nevada REALTORS® CEO Teresa McKee, GLVAR CEO Wendy DiVecchio, 2017 Nevada REALTORS® President Greg Martin, 2017 GLVAR President David J. Tina, 2017 CALV President Jennifer Ott, CCIM, 2018 RSAR President Doug McIntyre, as well as Diane Brown, a Northern Nevada REALTOR® who has chaired the state association’s Global Committee, and Rena Levy and Tamara Larisa Tyrbouslu, Las Vegas REALTORS® and longtime leaders of the Global Committees for both GLVAR and Nevada REALTORS®.
These Nevadans will be part of a growing USA pavilion, hosted by the National Association of REALTORS® (NAR), the nation’s largest real estate trade organization. NAR will be among 3,100 exhibitors at this year’s event.
This will be the third year Nevada REALTORS® have attended MIPIM, said Heidi Kasama, 2018 president of the Nevada REALTORS®. This year, she said Nevada’s representatives will bring more information about the most significant real estate and development projects being built or planned in the state. She said examples range from Tesla’s gigafactory being built near Reno and Sparks to the $1.9 billion stadium being built near the south end of the Las Vegas Strip, to billions of dollars in other, less well-known but still significant developments.
About 24,000 leading real estate executives from 100 countries, including thousands of investors, are expected to attend the annual gathering of the global real estate industry. The event brings together investors, developers, occupiers, architects, hotel groups, public authorities, city mayors and property associations from around the world.
NAR continues to expand its presence at this global event, providing local and regional U.S. markets the ability to showcase opportunities for foreign investment.
“The U.S. remains the top-ranked market for real estate investors,” said Elizabeth Mendenhall, 2018 president of the 1.3-million-member trade association. “Despite potential risks associated with emerging technologies, e-commerce, the ‘sharing economy’ and geopolitical events, foreign investors in a recent survey named the U.S. the most stable market for real estate investment and the best opportunity for capital appreciation.”
“Overall, the market is healthy, with commercial property prices rising 90 percent in the last seven years,” Mendenhall added. “Multiple years of steady job growth and the strengthening U.S. economy – albeit at a modest pace – make commercial property a good bet for foreign investors looking to diversify their portfolios and generate returns outside their country of origin.”
Kasama pointed out that prices for Class A properties in many large U.S. markets have surpassed pre-recession levels, while many mid-sized and smaller-tier markets like Reno and Las Vegas “still have room for prices to appreciate” and could benefit from increased interest from foreign commercial property investors.
Mendenhall explained that “current interest in industrial and logistics properties due to the growth of online shopping creates opportunities in markets not traditionally identified as a destination for foreign investment.”
In addition to Nevada, markets featured in the USA pavilion include the states of Arizona, Illinois, Missouri, North Carolina, Rhode Island, Virginia and Washington, and the metro areas of Beverly Hills/Greater Los Angeles, Coastal Carolina/Myrtle Beach, Northern Virginia and San Antonio. Markets participating in the USA “zone,” adjacent to the USA Pavilion are Florida State, Miami and San Diego, along with the CCIM Institute and the Society of Office and Industrial Realtors®.
About Nevada REALTORS®
Nevada REALTORS®, formerly known as the Nevada Association of REALTORS® (NVAR), is a professional trade association with more than 16,000 members committed to protecting, promoting and preserving our communities. Visit www.NVAR.org.
About National Association of REALTORS®
The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association. NAR’s 1.3 million members, including NAR’s institutes, societies and councils, are involved in all aspects of the residential and commercial real estate industries.
MIPIM, the world’s leading property market, brings together all the key actors of the real estate business. Investors, developers, end-users, architects, hotel groups, public authorities and property associations gather in Cannes for four intensive days of networking, matchmaking and development of international business relations. MIPM has established itself as an essential meeting place for city administrations who attend in order to both promote inward investment opportunities and discuss major key policy issues that urban conglomerations are facing around the world. Learn more at www.mipim.com.