The UK is home to a regeneration investment pipeline worth over AED600 billion, according to UK Trade & Investment's (UKTI) Regeneration Investment Office (RIO), a pipeline that is open to investors from the Gulf.
The purpose of RIO is to support and guide international investors in identifying regeneration projects across the whole of the country, enabling them to invest in projects that will not only provide a return, but also support the overall UK economy.
Gulf investors have the opportunity to participate in projects that will lead the development of 27 million sq. m. of new prime floor space and 220,000 homes. Investors from the Gulf will benefit from a UK Government that is co-invested in many of these projects, having committed AED104 billion of the AED600 billion pipeline, with almost a third already committed by the private sector.
The RIO pipeline includes landmark projects such as the Titanic Quarter in Belfast, a 300 acre site with a total development cost of AED6 billion that will include a boutique hotel, financial services centre, new retail development, film and media hub as well as office developments. The development is already home to a number of international organisations such as Citi, IBM and SAP.
The Paramount development, a 1.9 acre site, situated on the outskirts of London, and expected to be completed by 2018 is a mixed use development that will create Europe's largest leisure resort including a studio based theme park anchored to the Paramount brand. In addition to the theme park, Paramount will also include an entertainment street consisting of food and retail outlets as well as attractions; a water park, a 300,000 sq. ft. events space, three hotels providing 5,000 rooms and a 1,500 capacity theatre.
Sir Michael Bear, Chairman of UKTI's Regeneration Investment Office, said:
"We are actively seeking Gulf investors who can participate in our really strong supply of regeneration projects in the UK with over AED600 billion in capital value. RIO acts as a broker that can help investors identify and invest into a credible pipeline of UK wide regeneration opportunities. Through a dedicated team and private sector development experts, we are able to determine the criteria that make a project viable. It is our goal to remove barriers to investment and project delivery, enabling us to work closely with investors in supporting sustainable job creation as well as wide economic growth."
In order for a project to meet the RIO standard, it has to meet a minimum set of criteria such as having a gross development value of AED600m; enables job creation; outline planning permission in place; investment deployable within 12-18 months; provide freehold or long leasehold ownership; demonstrate potential for commercial returns; have a clearly defined investment structure; be aligned with local and central government ambitions; and have the support of the local authority.
For more information about investing in the UK, please contact UKTI +971 4 3043767 or email: ask@ukti-gulf.com
Media contact
For more information, please contact Alexa Hooft Graafland +971 (0)55 559 7404 or email: ahooftgraafland@bell-pottinger.com
UK Trade & Investment (UKTI) is the government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK's economy - acknowledged as Europe's best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit www.ukti.gov.uk/invest.
© Press Release 2014
