The Hindu Business Line : Think London invites investments

Chennai, Nov. 5 Now is the time. Rents are down, talent is available cheaper, the exchange rate is favourable and Olympic Games are less than two years away with thousands of business contracts waiting to be awarded.

Welcome to London, says Think London, the city’s official foreign direct investment facilitation agency.

Making a pitch for investing in London at a seminar here, Mr Paul Bromelow, Global Sales Director, Think London, noted that this “window of opportunity” would be only temporarily open, for about 12 to 18 months, and would disappear as the UK climbs out of recession.

He noted that there were 1.9 million highly qualified workers in London, a city that saw its rank fall from eight to 27 in the list of most expensive cities in the world. Property rents have fallen 38 per cent over 2008 levels, he said.

While the 2012 Olympics provides a business opportunity – as over half of the 75,000 contracts are still to be awarded – the Games will also leave the city a legacy, in the sense that the Olympics would spur digital and clean-tech opportunities.

(Incidentally, those who are interested in learning about Olympics contracts waiting to be awarded may check out www.competefor.com and www.london2012.com/

business.)

As it is, the London Olympics will be the “world’s first truly digital” and the “greenest” ever. Digital billboards, for instance, engulf the Olympics site. The main stadium is also very green, according to Mr Bromelow.

The ‘Bird’s Nest’ in Beijing used 47,000 tonnes of new-made steel. In contrast, London’s main stadium used only 11,000 tonnes of recycled steel, he said.

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