It’s clear that this year’s MIPIM has been marked by a far more positive mindset than the recent past. And thankfully this sunnier disposition amongst delegates, firms and cities has finally translated into a change in the weather for the better.
So as I prepare to return to London tomorrow morning it is clear to me that confidence in the global economy is gradually improving. This comes after massive injections of liquidity into the financial system by central banks across the world, which will ultimately impact upon asset prices.
Of course, the London property market has been resilient since the crisis. We’ve seen a ‘flight to quality’ in the City that reflects the fact London remains the leading international financial centre.
Indeed, research just completed for the City of London Corporation by Jones Lang LaSalle supports this by showing the high levels of global capital flows going into London’s property market. Whether it is Russian, Chinese, or other investors there is a huge appetite to get into the London market.
The completion later this year of the Shard of Glass, the tallest building in London and the European Union, will help to reshape the capital’s skyline and showcase how global capital flows – Qatari in this case – can benefit both sides through shared expertise and job creation.
And whilst in the City we have rigorous conservation policies to preserve the unique heritage of the Square Mile, we work hard with developers to make major developments happen.
So I look forward to seeing what comes from our discussions in MIPIM as we strive to ensure London remains fit for purpose when it comes to serving businesses, residents, shoppers, tourists and others. We are the most international city in the world and this week has provided the perfect platform to sell the best we have to offer to influential figures from all corners of the globe.