The first London investment prospectus was released on Tuesday and aims to attract £9.6 billion ($12.21 billion) for nine new property developments.
The investment prospectus, produced by public-private partnership Opportunity London, comes at a time when research shows London remains the world’s most resilient property market.
The nine physical developments include a proposed medical business hub in Cavendish Square in the West End, just off Oxford Street, and a life sciences company and film studio in Barking Riverside, east London. Includes housing development.
Other residential and business developments are planned for north and south London, including at Royal Albert Dock near City Airport.
Analysis by real estate advisors JLL and Opportunity London shows that investment in the UK capital over five years totaled $96.2 billion, more than New York ($94.3 billion) and San Francisco ($86.5 billion).
JLL also expects buyers from the US and Middle East to be the most active in London’s property market over the next 12 months, accounting for 55% and 36% of total investment respectively.
Jace Tyrrell, CEO of Opportunity London, said: “London remains one of the world’s most attractive cities to invest in, but investing can be complex and Opportunity London is here to help smooth the path. “I will.”
“Our London Investment Prospectus has received cross-party support from all levels of government and the private sector and currently sets out nearly £10 billion of investable opportunities.
“This is the first time we have all come together in this way, and the list of opportunities will only grow as we continue to get involved.”
Adam Challis, head of research at JLL, said there had been “substantial upward pressure on values” in London’s property market this year and Opportunity London expected to sell London to investors around the world. ing.
“The Middle East is completely on our radar,” Tyrrell said in response to a question. The National.
“For us, Saudi Arabia is very interesting right now in terms of investment size, as is Emirates.”
Easy to live in and lovely
London was recently named number one in the 2024 Resonance World’s Best Cities report, which found the city to be “more resilient and part of the global conversation than ever before.”
Every year, urban consulting firm Resonance collects core data from 400 cities around the world and presents them through three prisms: livability, loveliness, and prosperity.
London has topped the Resonance survey for the ninth year in a row, ranking first in both the liveability and loveliness categories and third in the prosperity rankings.
The next UK cities in the survey were Glasgow (61st), followed by Manchester (71st) and Liverpool (74th). Dubai ranked 6th and Abu Dhabi 25th.
“In the first year of a new property development cycle, London is positioned ahead of its global and European peers in attracting capital in terms of pricing, value and the weight of deployment reserves,” Challis said. said.
“Confidence is starting to return to the investment market and Opportunity London will help ensure London attracts investment across property, energy and infrastructure.”
Updated: March 6, 2024, 6:30 a.m.