Lodz deputy mayor calls MIPIM stand ‘crucial’

Published: 14. 03. 2024

It’s definitely not cheap, so why is it worth it for Lodz to have a stand at MIPIM?

Adam Pustelnik (Dep. Mayor Lodz): For Lodz and for many Polish cities, our presence at MIPIM is crucial because we still need capital, we need investors. Poland was a country without indigenous capital after the collapse of communism. It was a market without the sort of accumulated capital which is typical in Germany, Italy or France. So, we had to attract it from outside.

We lost 50 years during Communism in the post-war era, so at this stage of our development, we still need investors. We still need to rebuild parts of the city and MIPIM is a perfect tool to talk to investors, to generate interest and to be in the thinking of global investors.

How many years has Lodz been present at MIPIM?
Many years. I think it’s been over a decade.

Is it possible to measure the results from it? Can you be sure you’re getting something out of it that’s positive and constructive for the city?
I’m sure we get something out of it, but you cannot measure it precisely. We exhibit some specific plots of land here, but it’s not about selling plots. Our presence here is to build awareness. It’s to build our image, and sell the entire city as a commercial business product. 

That’s a long-term project.
It’s a long-term project, especially for a city like us, which is a post-industrial area similar to Newcastle or cities like that. We’re not London. We’re not automatically present in the minds and the awareness of decision makers. So, through events like this you get space and a channel to communicate what’s important.

It’s quite expensive…How do you justify that to your voters back home? They don’t accuse you of wasting money going to the French Riviera?
No! I think the best justification and proof that it makes sense is the scale of development, of reconstruction and the transformation of the city. This is a living example that dialogue with investors to attract new funds and companies makes sense because our people feel and see the city changing rapidly. That wouldn’t happen if people from the outside didn’t believe in it. 

How does the financing work? Is it purely from the from the city’s budget or do you get contributions from developers?
It’s a partnership. The majority of the funding comes from the city budget, but private investors contribute to our presence here.


Also in ThePrime

Tomáš Trčka (Trigea): The worst of the repricing is over

Radka Novak: Prague office space running out

AFI City 1 in Vysočany now fully occupied

Support ThePrime. Get access to the entire archive. Only €8/month!

You May Also Like…

Verified by MonsterInsights