International Investment Success Fueled By MIPIM
07 Nov 2017
New analysis has revealed that attending MIPIM over the past five years, has directly resulted in a significant economic boost to the Leeds City Region economy.
Attendance at the international property conference has generated more than 430 inward investment enquiries and this year alone has led to visits from major Chinese investors and representatives of globally recognised brands.
Attending the conference, which is a mainly private sector-funded event, has put the City Region in contact with more than 100,000 influencers, investors and money managers. Connections have been made through panel discussions, seminars and private one-to-one meetings between senior representatives from both the public and private sector.
This increased interest in the region from international investors has ensured that for the financial year 2016/17, Leeds City Region recorded its most successful year to date in attracting foreign direct investment (FDI).
As the UK’s largest City Region outside of London and the South East, Leeds played a leading role in increasing the success of the Yorkshire and Humber region in global professional services organization EY’s 2017 Attractiveness Survey which named it the only region in the Northern Powerhouse to see an increase in its levels of inward investment. The Department for International Trade’s (DIT’s) annual report also showed that Leeds City Region’s levels of investment increased by over a fifth (22%), securing 100 successful FDI projects, creating and safeguarding a minimum of 3,000 jobs.
David Aspin, the founder of Munroe K the developer behind the White Rose Office Park development which is home to HSBC, Capita, Telefonica and WSP amongst other international businesses and a sponsor of the Leeds City Region’s attendance at MIPIM commented on the results:
“I’ve attended the MIPIM property conference for over 25 years and have seen a lot of change over this period. I believe that since the attendance at MIPIM has been organised at a City Region level we are seeing a significant increase in interest from both businesses looking to locate to the region and in my case to White Rose Office Park and also from international investors who are keen to make investments in a location which they see as the ‘next exciting opportunity’.
“I’m proud to be part of the Leeds City Region delegation and I look forward to continuing to highlight the connected ambition of the public and private sectors to the influential international audience of future MIPIMs in order to ensure we can make the City Region achieve its economic ambitions.”
Simon Marshall, Joint Chief Executive at Scarborough International Properties and a sponsor of the Leeds City Region’s attendance at MIPIM, added:
"Scarborough International Properties is currently developing the 1.65 million sq ft second phase of Thorpe Park Leeds with our development partner Legal and General Capital and being part of the City Region's presence at MIPIM over the last three years has been crucial in helping us to raise awareness about the scheme.
"As a business we've partnered with a number of local authorities in the past at the conference and still work with many now to promote our developments such as Middlewood Locks in Manchester and Sheffield DC. Leeds City Region's approach to this conference mirrors what many other locations are doing but I believe the strong focus on public private partnership is driving the City Region forward in a progressive and creative way. At Scarborough we believe that the success of the City Region in attracting FDI is inextricably linked to the Region's united front at conference such as MIPIM."
Roger Marsh OBE, Chair of Leeds City Region Enterprise Partnership, concluded:
“This latest analysis shows MIPIM has a tremendous impact upon our success as a region at attracting inward investment. I believe it is crucial for us to be part of the conversation at MIPIM and to profile our opportunities to an international audience as if we miss this chance we are doing future generations a disservice, and we will lose out to our competitor city regions in the North, South and West.
“Our attendance is only possible due to the continued and growing funding from the private sector which recognises the huge benefits MIPIM can bring to the City Region’s economy.
“I’m delighted that our region to date has its largest list of private sector sponsors ever ahead of MIPIM 2018. I look forward to standing shoulder to shoulder with all of the City Region’s delegates to showcase how the region is already delivering significant returns to investors, continuing to attract major occupiers; and how now is the time to become part of our story.”