We all expected the credit crunch to cast a shadow across the start of this year's MIPIM real-estate conference starting in Cannes tomorrow. But a literal storm was the immediate problem.
The 28,000 delegates can now start to discuss the real issue of the day. Who will throw the most fabulous party? And more importantly: how the devil are they making enough money to pay for it?
The latest sovereign wealth fund move underlines hemes at this year's MIPIM: where do the value opportunities lie a year after the credit crunch started to take hold, and who will emerge as the new dominant players?
We've interviewed a dozen property investors at this year's MIPIM and I can't help wondering if we're really getting the full story.