Sir Sadiq Khan has jetted off to Cannes, leading a City Hall posse to Europe’s grandest property bash—MIPIM—marking his first visit in nine years as London’s mayor.
He’s got his sights set on luring £22 billion from deep-pocketed investors for 20 big projects, from sprucing up Liverpool Street, Waterloo, Euston, and Victoria stations to turbocharging the capital’s growth.
“One of the ways to stimulate growth in our economy is more foreign direct investment,” he told BBC London, unapologetic about his pitch. “That will help build more homes, help invest in public transport, and help invest in infrastructure.”
It’s a full-on charm offensive, with Barnet Council touting its Brent Cross Town vision, and Islington, Waltham Forest, and Lambeth councils joining the hunt for cash.
They’re rubbing shoulders with global developers and moneybags at a conference billed as the spot to “access global capital” and unearth ways to green up assets, per the MIPIM website.
Sir Sadiq’s not alone—deputies Howard Dawber (business), Tom Copley (housing), and Jules Pipe (planning) are in tow, alongside borough reps, Transport for London, and Network Rail, all rallying under the “Opportunity London” flag.
“I don’t apologise for banging the drum for London at the MIPIM conference,” Khan declared, ready to make his case.
The stakes are high…
The “London Investment Prospectus” dangles the promise of thousands of affordable homes if the funds roll in, a point Sir Sadiq will hammer home at a Monday housing session before cutting the ribbon on the London stand Tuesday.
It’s a timely push—shadow Housing Secretary Kevin Hollinrake recently slammed Khan’s “catastrophic” pace on affordable housing.
But not everyone’s scoffing.
One property insider, keeping their name under wraps, told the BBC:
“It is good to see the mayor engaging with the industry by going to MIPIM for the first time. He has not always had the easiest relationship with developers.”
Past mayors Ken Livingstone and Boris Johnson worked the same room—now it’s Khan’s turn to woo the chequebooks.
For London’s property scene, it’s a high-roller’s gamble—£22 billion could reshape stations and skylines, but with developers historically wary, can Khan seal the deal in Cannes?