London’s new mayor pledges to boost the city’s position as a global leader
Sadiq Khan, London’s new mayor, who was sworn in on May 7, has pledged a pro-business strategy and promised to boost the city’s position as a global leader.
Commenting on the election of Khan as Mayor of London, Guy Grainger, UK CEO at JLL said: “Sadiq has pledged to be the most ‘pro-business Mayor of London yet’ which is a promising boost for London’s position as a global leader. Property is a vital component to consider in any business or personal decision – from the impact that office space can have on workforce productivity, to the affordability of housing & making buildings sustainable.
“Housing is top of the agenda and London will watch with eager anticipation to see if Khan can deliver 50,000 homes per annum and we will help him try to get there. Khan’s focus on affordability was a popular vote winner but the real test will be the delivery of these homes at a time when the capacity and cost of construction industry is so testing.”
Adam Challis, Head of JLL Residential Research, added that under Khan’s plans, the GBP 400 million in the affordable homes budget will be used to support housing associations in their plans to deliver more homes. “London would benefit and the intent is commendable, but there again remains a question around the industry’s ability to deliver.”
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