Councils are set to use a global property expo to launch a massive inward investment drive.
After more than a year of being battered by the downturn, the commercial property sector is showing signs of resurgence, and councils from England, Wales and Scotland are set to pitch to investors at the industry’s annual trade fair in Cannes, France.
MIPIM 2010, which runs from 16 March, has attracted a host of countries looking to repair reputations battered by the global credit crunch.
The UAE and 78 other countries have booked space, and UK councils will be among them.
Crucial regeneration projects which were put on ice are now being restarted by developers and local government partners.
Birmingham City Council is returning this year to promote ‘a quality of life which is commensurate with the very best cities in Europe’, but adding the advantage of low home and commercial property prices.
But all council exhibitors have kept their commitments low-key and found ways to limit costs, to avoid a backlash by opposition politicians and local media.
Council leader, Mike Whitby, said: ‘These are tough economic times, and we are under no illusions about the challenges which public and private sector budgets will face. However, it is precisely these times when the truly great cities can show their mettle. All of our efforts are focused on raising the quality of living in Birmingham – and making us one of the top 25 cities in the world.’
Leeds City council has teamed up with Bradford, Calderdale, Kirklees and Wakefield to promote the ‘Leeds City region’.
A coalition of 36 companies will be part of the Manchester delegation, contributing up to £15,000 each.
Croydon Economic Development Company (CEDC) is also set to exhibit. A spokesman said: ‘As we emerge from recession, large international shop-windows such as MIPIM become even more important for places such as Croydon.
‘For Croydon’s offer to not be represented at this critical time would, potentially, be a huge mistake for the future of everyone who lives and works in the area.’
