MIPIM: Sadiq Khan hails ‘perfect time’ to invest in London
Sadiq Khan has said London’s “weather has changed” as he flew the flag for the capital at a major property conference in France.
The mayor of London attended Europe’s biggest real estate trade show – Le Marché international des professionnels de l’immobilier, or MIPIM – in Cannes for the first time, just two weeks after launching the London Growth Plan in a bid to revitalise the city’s economy.
Khan, alongside a team from City Hall and London’s council leaders, is seeking to attract major investors to spend their money in the UK capital, aiming for a total of £22bn to be invested into 20 key projects from some of the 6,500 investors attending from 90 counties.
Schemes being promoted for investment include the Liverpool Street redevelopment, the Victoria and Waterloo station terminals, and the wider Euston area linked to HS2 – as well as the Camden Film Quarter, Barking Riverside, the Royal Albert Dock and Barking Riverside.
Speaking to Morning Wire, Khan said the event had been “fantastic” adding: “In the past 24 hours I’ve probably met more investors – from America, Canada, Japan, the Far East, the Middle East, France, continental Europe – than I have in six months, because they’re all here”.
The mayor said: “We have the biggest turnout from London in the history of MIPIM. I was told by the organisers there are more people here from the UK than ever before.
“All of us are saying the same thing, which is now is the perfect time to invest in London.”
Asked why he had not attended during his previous nine years as mayor, Khan said: “It’s really important for me to come here with an offer and this year I’ve got a real offer to make.
“But the real game changer is the national government working with us on investment in London, housing, student accommodation, retail, logistics, leisure… [it] means I can come here and make an offer to developers and investors on why they should invest in London.”
He stressed: “We’re talking to people about why things have changed in London, why the weather’s changed… [and] acting as a concierge service for people who want to come to London.”
While he acknowledged he “can’t give you examples of things we’ve signed here”, Khan insisted the event had sparked “conversations and introductions” which he hoped would go on to have an impact.
City Hall said the mayor attended to bang the drum for London, particularly on affordable homes, new infrastructure and jobs in the capital, and said Khan was working with London Councils, Canada Corporation, the Government and the private sector.
The projects, they said, are detailed in the Opportunity London Investment Prospectus, which features opportunities to build new housing and build-to-rent developments, as well as student accommodation, office buildings, logistics, urban sciences and leisure projects.
The Opportunity London partnership aims to unlock London’s next £100bn of capital investment, by matching capital to partners, projects and places, officials said.
Jace Tyrrell, chief executive at Opportunity London, said: “London is a trillion-dollar economy and remains the capital investment magnet of the world.
“We have a supportive public sector at every level of government and the next wave of major development opportunities across transport, energy and real estate, for the benefit of all Londoners.”