Real estate is an untapped opportunity for investment promotion agencies
At MIPIM, one of the world’s premier real estate gatherings, Ismail Ersahin, CEO and executive director of the World Association of Investment Promotion Agencies (WAIPA), carried a message that the real estate sector and investment promotion agencies (IPAs) need to get a lot closer.
Speaking after WAIPA’s first official partner session at MIPIM, Ersahin reflected on the growing intersection between real estate and foreign direct investment (FDI). “You cannot think of a single investment project that doesn’t include a real estate component,” he said. “IPAs are already indirectly attracting real estate investment — the next step is for them to do it directly, strategically.”
Ersahin acknowledged that IPAs — often seen as the private-sector-facing arm of governments — are well established in sectors like manufacturing, healthcare and energy. But in real estate, he sees untapped potential. “There’s a clear need for closer collaboration between IPAs and urban developers, financial institutions, and other key players,” he explained. “Real estate isn’t just a transaction; it shapes the future of a country and its cities.”
The WAIPA leader was surprised by the lack of awareness among real estate professionals. “[In our session] I asked the room of 50 people how many knew about IPAs,” he noted. “Only about four hands went up. That’s a wake-up call.”
For Ersahin, the path forward is clear: better engagement between IPAs and the real estate ecosystem could unlock massive mutual benefits. Not only can IPAs help attract real estate investment, but high-quality developments also help attract other forms of FDI, by improving livability, infrastructure, and investor confidence.
“We want to keep building this bridge,” Ersahin said. “By aligning MIPIM’s community with WAIPA’s global network, we can turn this into a real win-win — for countries, investors and citizens alike.”
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