The City of London has confirmed its 2018 spending for the renowned property event MIPIM, held annually in Cannes to attract investors into London. Figures released show that this year the figure was £98,000 – £3,000 higher than last year, and over £25,000 more than in 2016.

Part of the funding came from private bodies, such as the City Property Association, and the money was used for accommodation, exhibitions and hospitality – including a lavish drinks reception for a 120-strong guest list comprised of property tycoons, estate agents and bankers.

According to a City of London Corporation spokesman, MIPIM is “the most influential property conference” and the organisation already plans to return next year, when the campaign “will be particularly important in positioning the City as a place for business” ahead of Brexit.

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