Cushman & Wakefield has announced that it is pulling out of Mipim because of concerns about the coronavirus.
The agent issued a statement on the evening of 26 February which said: 'The health and safety of our employees and our clients is our priority.
'With the rapidly increasing number of cases of coronavirus in Europe and the elevated industry-wide concern around attendance at large multi-national events, we have decided to withdraw from Mipim.'
This week the firm temporarily closed its Milan office and told all its employees in Milan to work from home.
Northern Italy has seen the largest concentration of cases of the virus in Europe so far, with 400 cases confirmed by 26 February.
The rise in Italy represents a 25% surge in 24 hours according to the BBC news service.
Real estate professionals due to attend Mipim in Cannes from 10-13 March will now be wondering whether more firms will decide to withdraw.