At the recent MIPIM event in France, delegates from the City of London worked to promote the Square Mile. The aim was to encourage more people to invest in the area. The exhibition was a great opportunity to reach out to developers and international investors as well as business stakeholders from over 100 different countries.
The financial industry remains strong
Although the political situation is causing uncertainty, there are lots of positives for the City. Most importantly a number of reputable businesses have committed to offices in the area. A number of them come from the finance sector, including Sumitomo Mitsui, Goldman Sachs, and Bank of Canada. This is not surprising because the area is renowned for being home to a large pool of financial talent.
The thing that is slightly more interesting is the number of technological, media and advertising businesses choosing offices in the City. Giants like Amazon, Saatchi and Saatchi, and Dell have all committed.
The traditional idea that area is purely for finance is changing dramatically. This can also be seen in the number of restaurants and entertainment venues opening. These amenities make it more attractive for people to stay and actually live in the area. As a result the whole dynamic is changing.
Although there is uncertainty it definitely looks like the area will remain an attractive global hub for many years to come. The creation of new offices, retail spaces, and even homes will help with this. Impressively, many of the office developments are also creating new amenities. For example six of the thirteen current high rise developments will have free to access viewing galleries. This will make the properties part of the community rather than just workspaces.
At Finefair, the best team for property management City of London has to offer, we keep a close eye on the changes in the area. This means we can adapt our services if necessary and provide the right support for investors. If you would like to discuss services with us please feel free to get in touch.