The mayor of London has highlighted investment opportunity across the capital while speaking at MIPIM.
Sadiq Khan talked about London’s investment prospectus, alignment of capital and national government, and affordable housing in a keynote speech at the annual event.
He said: “London is not only the greatest city in the world, but also the greatest city in the world to invest in. We offer stability and certainty stemmed from the rule of law, regulatory framework and new government planning for the long term.”
Pitching for investment in the capital, Khan told delegates the recent change in government had led to “a turning point and a huge opportunity”. “As far as London is concerned, a new government isn’t just a welcome ray of light, it’s game-changing,” he said.
“It’s a game-changer for our efforts to fix London’s housing crisis and the game-changer for developers and investors who are tired of being blocked. Developers that just want to get on and build the project with local communities.”
Khan said City Hall was working with councils to approve major applications faster and forming “meaningful and lasting policies” with the private sector to meet the city’s housing needs.
He said: “Now we have a golden opportunity to build on this progress with interest rates falling and market confidence rising; and with a new pro-growth government and a pro-growth mayor working hand-in-hand, we can go further, and we can go faster in terms of scaling up our housing delivery.”
Khan also unveiled an updated investment prospectus, offering £22bn of opportunities in London. The prospectus offers 20 investment opportunities across the capital with a GDV of £77bn.
The mayor said the prospectus includes “elements of student accommodation, office buildings, logistics, urban sciences and leisure developments. This also includes new regeneration schemes, transport projects and housing developments in some of London’s best-known and most iconic locations, including £10bn of opportunities across network realms estate at places such as London Victoria, London Liverpool Street and London Waterloo”.
Alongside the prospectus, Khan said City Hall was also seeking investment to deliver thousands of new homes on its own land. He said attracting private finance for key transport projects such as Docklands Light Railway, the west London orbital and the Bakerloo Line extension projects could pave the way to tens of thousands of affordable homes.
Khan said: “Our city and our country are both now reverently pro-growth, pro-business and pro-development. It means there has never been a better time to invest in London, with City Hall and central government on the same page and joined by can do London local councils. Our city is overflowing with opportunities and ripe for returns, and my pitch to investors is London isn’t just about the money you can make, but about the legacy you can leave.
“You could help to deliver the next generation of safe, sustainable high-quality homes, including affordable homes you can help to ensure London remains a city for all, regardless of income or background. You can help to build a fairer, greener and more prosperous London for everyone. A city that continues to be a beacon to the world.”
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