Banging the drum for London in Cannes

I’ve just arrived back in sunny London after a whistle-stop tour of the international MIPIM property festival held in Cannes. While the obvious focus of the visit was to bang the drum for London and entice international property developers to invest in the capital, the successful trip was topped off by the Mayor being able to finally announce a deal with government on the transfer of Olympic Park land to the Olympic Park Legacy Company (OPLC). 

The transfer is a good deal for London as it’s another big step in ensuring the games leave an enduring legacy for our benefit. When Boris announced the news to the top brass of the property investment world at the 'London Stand' yesterday evening it was greeted with great cheer. Delivering a fantastic legacy from the Olympics is a key priority at City Hall and with this new deal potential investors now have the single “go to” person that is crucial to guarantee their involvement in creating a long-term future for east London. 

The Mayor's one-day visit to MIPIM began with some espionage… a tour of the very large Paris Stand with Denis Tersen, General Manager of ARD (Regional Development Agency). It was clear that our Gallic neighbours, like London, have a strong focus on powering ahead with development as the harshness of the recession begins to ease. Notable plans included Norman Foster’s latest example of genius, the Hermitage Plaza that will have the tallest mixed-use towers in Western Europe. We didn’t hesitate in telling our hosts that for every Hermitage Plaza in Paris, we have Cheesegraters, Brent Cross and Nine Elms in London. In fact the finest example that we are powering out of the recession is the Shard around the corner from City Hall… the Mayor commented that he’s thinking of moving in just for the view of France alone. 

Following lunch with senior players from the investment and property sectors hosted by the OPLC, it was straight to the Mayor’s keynote speech at the Esterel Auditorium. Great audience and even better opportunity to ensure all eyes are firmly turned to investment opportunities in East London and the 2012 Games, as well as the multitude of investment opportunities through other large-scale projects like Crossrail. Progress in the Olympic Park is on time and on budget – in fact he told the audience that we’re making such good progress we should stagger Team GB’s opponents and begin the London 2012 Games a year early. 

Next up was one the Mayor’s favourite parts of any MIPIM trip – officially welcoming the fantastic Cycle2Cannes cyclists. The riders have such fun on this trip and compete for so many worthy charities. The camaraderie among this bunch is enviable and he is already looking at the diary for next year to see if he can join them at some stage of the tour. 

And then… the piece de resistance of the festival – the grand tour and opening of the London Stand. The ever-charming Barry McKeogh, of organisers Pipers, led the way as we toured our way around the packed and confident London Stand. There is no doubt that the 2012 Games and regeneration in the East End is at the forefront of every developer’s mind, with the OPLC and London Development Agency (LDA) stands bustling. Investors are simply spoilt for choice in the range of opportunities that we are offering in London and it’s getting better all the time. Latest research from Think London shows that two-thirds of international firms say they are more confident about doing business in the capital compared with 12 months ago. These encouraging figures, along with London again being crowned fDi Magazine’s European City of the Future, show that we’re on the right track and the future for our capital is incredibly bright.