Mipim 2026: Five major real estate projects on display in Cannes

Some of the world's biggest and best real estate projects will be on display at Cannes this year, as stakeholders look to secure investment to unlock developments or share their experiences of developing complex schemes.

CoStar News explores some of the major projects being exhibited at this year's Mipim conference, including a $26 billion coastal city in Saudi Arabia and a 30-storey mixed-use London office tower that is putting the city's ancient history on display.

This article was written before conflict escalated in the Middle East.

One of the largest projects on display at this year's Mipim conference will be New Dammam in Saudi Arabia, a circa 344 million-square-foot mixed-use coastal city development being delivered by real estate firm Adel Real Estate Company.

Rising between Dammam, the Eastern Province’s administrative capital, and Al Khobar, a major economic and technology hub, New Damman reflects a staggering $26 billion investment. Those behind the project say they have already secured $4.8 billion of direct investment, with the scheme structured as the "largest Capital Market Authority-licensed private real estate fund in the Kingdom". The CMA is the country's financial regulator.

New Dammam, backed by AWJ Holding Company, Sumou Investment and Meraas Investment, will comprise eight integrated mixed-use urban districts and 34 residential developments, including a circa 5.6 million-square-foot regional financial and business hub overlooking a 7,500-metre, man-made canal and the Arabian Gulf.

Adel Real Estate will also install the largest central park in the Kingdom's Eastern Province, contributing to circa 5.4 million square feet of green spaces, and the world's largest flagpole, which the group hopes will become a "globally recognisable landmark". Another striking landmark of the city will be Dammam Bridge, one of 10 landmark crossings set to be built.

The developer will be making its Mipim debut this year as part of the Invest Saudi delegation, showcasing billions of dollars’ worth of real estate investment opportunities two months after Saudi Arabia's landmark foreign ownership law took effect. This allows non-Saudi companies and individuals to purchase residential, commercial, industrial and agricultural assets in designated zones. Invest Saudi described as "a gamechanger".

Jaafar Buhulaiga, chief development officer at Adel Real Estate, told CoStar News by email: "New Dammam is not merely an urban development, it is a forward-looking vision we are shaping today for future generations. The project reflects a new model for coastal urban growth in the Eastern Province, combining large-scale planning with long-term economic and investment potential."

Mehmet Kalyoncu, chief executive and founder of community development and urban planning group ION, will outline more detailed designs for a 84-hectare luxury development on the Black Sea, north of Istanbul's Beykoz district, at Mipim 2026.

Ion Riva, which is under construction, will house 3,000 people across 969 homes in its first phase and has been "designed as a blueprint for sustainable, human-centred living", with more than circa 1 million square feet of biodiverse green space and on-site renewable energy production.

The landscape-led masterplan has four cultural buildings, including the Ring, a circular structure that will run across the river where people can be around nature, with allotments and stables close by. The other structures include the Drop, a teardrop-shaped timber building housing a restaurant and wellness spaces, and The Lantern, with a performing arts centre and cinema.

The fourth, unnamed building, is reserved for arts and culture, comprising an exhibition space, library, studios, co‑working areas and sports facilities. Ion Riva's first development phase has planning permission, with residents set to move in next summer.

Kalyoncu is known for helping to develop a masterplan for the rebuilding of Hatay after the devastating 2023 earthquake in Southern Turkey, founding the Türkiye Design Council. He said in a statement: "Our aim with Ion Riva has been to create a neighbourhood shaped by its landscape and the people who will call it home, where nature, culture and daily life sit in balance."

Other companies involved in the Turkish project include development consultant Urbanion, international architectural practices Snøhetta, Bjarke Ingels Group and MVRDV, as well as a local design team including KEYM, DB Architects, Rasa and Bilgin Architects.

King Salman Park, described as "one of the world's most ambitious and transformative urban regeneration projects", is another Invest Saudi project being exhibited in Cannes this year, with those behind the scheme set to announce two new packages with a combined investment value of $3.85 billion.

The 17-square-kilometre project, already under construction, aims to "create a green oasis at the heart of Riyadh", where more than 1 million trees are being planted, supporting the goals of Saudi Vision 2030, a document outlining the long-term goals and strategic framework for the kingdom which includes diversifying its economy. A 7.2-kilometre pedestrianised green space, called The Loop, surrounds a central "forest".

The project, being delivered by King Salman Park Foundation, will also deliver a slew of commercial real estate, including 27,000 residential units, 6,300 hotel keys and circa 5.8 million square feet of offices.

A 5.4 million-square-foot Royal Arts Complex is one of the central features of the urban regeneration project. It will comprise "seven distinct cultural assets", including a 2,300-seater National Theatre, a 110-metre Museum of World Cultures and a cultural cinema complex for host local and international events.

Sky bridges will be erected to link various zones across the megaproject, while the park’s water and irrigation networks will be integrated with the Riyadh Green Initiative project to use treated and recycled water.

King Salman Park Foundation signed a strategic partnership with Ajdan Real Estate and Sedco Capital at the end of last year involving a $1 billion, mixed-use investment fund within the park. The Foundation is led by CEO George Tanasijevich, former president and CEO of Marina Bay Sands, Singapore's hotel and resort.

When the remains of London's first Roman basilica, the political, judicial, commercial and social hub for Londinium, were discovered during the redevelopment of 85 Gracechurch Street, designs had to be completely redrawn to preserve the ancient structure.

Forced back to the drawing board in February last year, revised blueprints for a circa 235,000-square-foot, 30-storey mixed-use office tower with a large archaeology exhibition were approved by the City of London Corporation in July, creating a modern structure on foundations of its past.

More than a year on from the discovery of the 1st century basilica, architect practice Woods Bagot, in Mipim this week, is now working with contractor Mace to prepare the site for development. Owned by Hertshten Properties, it will be one of a number of City skyscraper developments being discussed at the London Stand.

James Taylor, principal and London studio chair at Woods Bagot, told CoStar News that the building's architectural history will make it one of the most unusual buildings in the capital. "While seeing the Basilica remains and experiencing a glimpse into Roman London will be an incredible feature of the scheme, I believe it's the Great Hall at ground level which makes 85 Gracechurch Street truly unique."

The developer's chief executive Ron Hertshten added that the building's "generosity of design" sets it apart from other developments across London, with 90% of each floorplate within 12 metres of a window, tenant lounge and a large event space with a 270-degree terrace.

He added: "Constructing a new tower above what was once the governing seat of Roman London carries a profound responsibility, one we have taken extremely seriously. In close collaboration with leading archaeological and heritage experts, we fundamentally redesigned our basement to create a world-class public viewing experience, allowing visitors to engage with the remains in a meaningful and educational way."

Turku, Finland's oldest city according to its national tourism board, is getting one of the country's most forward-looking urban developments centred around its emerging role as a leader in the health innovation sector.

At Mipim, city representatives will present Turku Science Park, a 90-hectare mixed-use development combining housing, offices and leisure spaces. Some 10,000 apartments are planned for the site, which will house circa 16,000 residents.

Around 2.7 million square feet of commercial buildings are also outlined in the group's 2050 masterplan, alongside more than 750,000 square feet of public buildings that will house 18,000 employees. The project reflects a total investment potential of around €4 billion, with more than 90% from private investment.

Turku already hosts to a network of top pharmaceutical and diagnostic companies alongside research institutions. The development is anchored by major brands such as German multinational pharmaceutical and biotechnology company Bayer, which decided in 2021 to invest in a €250 million modernisation of its 1960s production plant.

The science park has an ambitious goal to become carbon neutral by 2029. Partners involved in the project include the City of Turku, YIT, Lundén Architecture Company, and Renell Käppi Architects and is being led by Turku Technology and Science Park.

Those behind the plans said: "The Science Park boldly mixes the familiar with the unfamiliar and is a meeting place for the new and the old, history and modernity, nature and the city, and different modes of transport. New ways of using urban space and adapting it to different needs make the area ideal for residents, businesses, and employees alike."

This article was updated on 10 March to correct the number of floors at 85 Gracechurch Street and to correct some figures in the King Salman Park section.