The steps taken by Mayor of London, Sadiq Khan, to ensure that London remains the best venue in the world for business by opening new overseas offices in six key cities, will positively impact the property market in the long-term.
The Mayor’s business and investment promotional agency, London & Partners, will significantly increase its overseas presence to attract investment into the capital after Britain leaves the EU – and to ensure that jobs and growth for Londoners are retained. They currently have offices in San Francisco, Los Angeles, New York, Mumbai, Shanghai and Beijing, building and maintaining relationships with entrepreneurs, start-ups, potential and existing investors.
The network will now be expanded by new offices in Paris, Berlin, Bangalore, Shenzhen, Chicago and Toronto. The new sites represent some of the most important markets for foreign direct investment (FDI) into London. According to London & Partners’ data, the US is the number-one foreign investor into London, followed by India and China.
The new offices will drive investments into multiple sectors in London with a resultant boost on the local property market, including commercial and residential. In the last two years, the capital has already seen record levels of investment by Asian entrepreneurs, companies and HNIs into the London property market. With the capital continuing to remain a major draw for investors, the Mayor’s efforts will naturally complement London’s strong fundamentals for businesses.
Mayor Sadiq Khan is determined to bang the drum even louder for the capital and remind companies of all sizes that London is a leading business destination.