SIOR has conducted a survey of its European membership to assess the outlook for the office and logistics markets. The survey considers supply, demand, and rental growth for prime space, as well as the opportunities and challenges highlighted by our respondents. Other themes include the impact of technology and respondents’ business focus for 2024.
We would like to thank Daniel Francis, Head of Research at our sponsor Carter Jonas, who led this report and the SIOR members across Europe who shared their valuable insights.
SIOR’s Global President David Lockwood SIOR will be in attendance accompanied by Robert Thornburgh SIOR FRICS, SIOR’s Chief Executive Officer.
They will be supported by SIOR colleagues:-
We encourage you to bring a colleague who may be interested in learning more about SIOR.
The Grenache Cannes Wine Cellar (previously Vallauri’s Cave à Vin) is located at 10 Rue des Halles behind the Marché Forville, Cannes’s local food & flower market, just a short walk from the Palais des Festivales.
On behalf of Andrew Smith SIOR FRICS, President of the SIOR European Chapter and the members of the European Chapter leadership, we wish you all a very Merry Christmas and a healthy and prosperous New Year!
This year’s Christmas card shows a small selection of our members in action: networking, doing business, making friendships and overall enjoying our unique culture while taking our chapter from strength to strength.
The New Year will bring new faces and new exciting opportunities. 2024 will also be a special year in view of our bi-annual highlight, the 4th SIOR International Conference in Berlin. Register now to make use of the early-bird rate and keep an eye out for all upcoming events and we look forward to seeing you there.
In the meantime, we wish you a joyous festive season in the hope that those suffering will also find peace and comfort from our continued support and prayers. .
The second European Chapter’s Mind Your Own Business event of 2024 will take place in Spain on 12th-13th of September. This series of events takes place in different locations across Europe and has become the flagship of European SIOR business generation meetings.
The events are open for members only.
We welcome partners and guests to the leisure and optional activities.
Thursday, 12th September 2024– All day event
More information and registration TBA
Welcome to MYOB Series – London!
You are cordially invited to our 7th Mind Your Own Business (MYOB) Event on 25-26 April 2024. MYOB has become the Business Generation Flagship of the European Chapter and London will be no different.
Exclusive for members only, however, partners and guests are welcome to the optional and social activities.
EVENT HIGHLIGHTS
Psychology & Pricing – Stickier Fees Win More Business
Exclusive Members Only Seminar on Fee Pricing by David Abbott.
David is an expert on the psychology around pricing. He wrote the amazing How to Price Your Platypus and he is one of the leading 99 global thought leaders on pricing. Educated at Oxford, David has run businesses from startups to UK brands of global distribution companies.
He currently works directly with businesses on their pricing, achieving dramatic improvements in profitability. Frequently gaining accolades such as ‘the best speaker we have ever had’, David uses his engaging style and infectious enthusiasm to introduce audiences to simple ways to present their prices in a way that makes higher prices stickier.
Guided site visit at the Battersea Power Station and a presentation of the new the scheme 50 Electric Boulevard being launched.
You are invited to the last European Chapter’s Mind Your Own Business event of 2023 in Italy at Hotel The Square which is situated in the heart of the City of Milan.
Mind Your Own Business events have become the flagship of European SIOR business generation meetings and are open for members only.
We welcome partners and guests to the leisure and optional activities.
Thursday, 14th September 2023, 8h45 CET to Friday 15th September 2023 12h00 CET.
Leisure optional programme for the weekend for members and guests.
The Society of Industrial and Office Realtors (SIOR) attended MIPIM in force with its international and European leadership all present to meet with its global membership and address the local and international issues that affect its 3,700 members in 45 countries.
In fact, with over 50 representatives present in Cannes this year, it was a record number of SIOR members and guests at the conference, and the organisation’s stand served as a great base camp for members, their clients and contacts to meet and do business.
For the SIOR leadership, there were two key trends on the agenda, as SIOR executive vice-president Patricia Loveall explained: “Industrial is up; office is down. The depressed office market is a direct result of the COVID pandemic and at this point the status quo is not an option. There is going to be a new look and feel in the office sector as the issues facing the industry represent a challenge to our members and our task is to provide them with support. That element of the industry needs to be reimagined.”
Meanwhile, the society’s CEO, Robert Thornburgh, highlighted reasons to remain optimistic “Building, design, everything is changing and those who are nimble and accept the challenges will be the winners. Our job is to educate, collaborate and assist our members over the next five or even 10 years to work through these issues and see them emerge stronger.
“On the industrial side, the disruption of supply chains is creating new opportunities, with limitations on imports benefiting local manufacturers. We’re seeing double-digit growth in 2023, and we don’t see the market changing for industrial.”
Finally, SIOR’s European Chapter President, Andrew Smith, added: “There are positive signs that recovering demand is bringing back industrial appreciation – certainly there appears to be competition again – and the occupier market has remained resilient, with many standout companies driving demand for land.”
For SIOR, MIPIM remains an essential meeting place for its members to make new connections and broaden their reach, and Robert Thornburgh highlighted that “There’s nowhere else that brings together such a wide variety of people, companies and countries.”
While there was a lot of uncertainty ahead of MIPIM in the UK, fuelled by doomsday talk of recession, Andrew Smith was keen to point out that in reality; “Judging from the noises on the ground, it seems that the UK economy has proved more robust than many people feared. There’s still a bit of nervousness around US interest rates, and concerns that these could keep rising until the end of the year, however it looks like UK interest rates may be peaking and the industry has perhaps weathered the worst of the storm. And while it’s difficult to generalise the pan European market, it’s largely been spared the same corrections as the UK market, which has taken a big hit in the last 9 months. With all that said, there are positive signs that recovering demand is bringing back industrial appreciation (certainly there appears competition again), and the occupier market has remained resilient, with many standout companies driving demand for land.”
Other trends of note to emerge from MIPIM were on the sustainability side, as external geo-political and macro-economic pressures over the last year has seen a massive rise in the number of businesses interested in transitioning towards low carbon solutions, as well as significantly ramping up of renewable energy sources, with commitments to phase down fossil fuel reliance really making a difference. This newfound urgency has translated into a dramatic focus in financing.
For SIOR, MIPIM has been a really good opportunity to bring together the leadership of the group from both the US and Europe, to congregate with far-flung colleagues and network. SIOR is at its heart a network of like-minded people, so the conference is a natural stage for members to make new connections and broaden the organisations reach.
The Real Estate Data Foundation is a not-for-profit initiative bringing together the whole sector around the topic of data and to raise data ethics up the agenda and we are delighted that SIOR Europe is supporting this collaborative alliance.
But what is ‘data ethics’, why should you care and what should you do about it?
Ethics is important in all corners of real estate, but as the volume of data that we collect and use grows, it is important to make sure that we apply ethical thinking to this. Having the technology to collect data and being allowed to under law is not enough – we need to consider whether we should be collecting and using the data. Ethics is all about asking ‘should we?’ If buildings of the future are about the user’s happiness, health or productivity we can collect huge amounts of data on all of this – but should we? Where does the risk outweigh the benefit?
Before COVID, the idea of having your temperature taken to assess your health to be allowed to enter a building seemed inconceivable, yet for a while it became the norm. At what point should we stop collecting and using this data?
A more extreme example may be the decision about placing cameras inside buildings. This can allow all sorts of data to be collected and used to improve the experience for the resident, but there is a high risk that residents will resist it – and complain about it, as happened recently when North Ayrshire Council used Facial Recognition Technology in its school canteens. But what if the cameras are used to assist the elderly to continue living on their own by providing an automatic alert system for any falls or health problems? As long as data was suitably anonymised and secure and residents were fully aware of what was being collected and why, then this may feel like a more acceptable use case.
Whatever your views on the examples above, we can see that the ethical use of data is not black and white which is why the real estate sector needs to be on the front foot.
Data ethics in real estate matters for 3 reasons:
The ethical use of data is complex and subjective, but the good news is that it is easy to take significant steps towards making sure that you are using data in an ethical way. The RED Foundation has developed 6 data ethical principles that we ask both people and companies to sign up to. Sign up to these today and build them into any decisions you make relating to data and you are well on the road to addressing it.
For those who wish to take a step further, we have published a Data Ethics Playbook which builds on these principles and provides practical guidance on how to build data ethics into your thinking.
Written on behalf of the RED Foundation by: