The population of Denmark’s capital is set for more rapid growth over the next 12 years, according to Frank Jensen, Lord Mayor of the City of Copenhagen.

The Danish capital plans to invest more than €8bn between now and 2020 in infrastructure, schools and services, Jensen told delegates at the IP Real Estate Global Conference & Awards today.

“We have had a 10% increase in population over the last five years, and towards 2027 we expect a further increase in the number of citizens,” he said, adding that the Danish capital now had 3.9m inhabitants.

The growth means the city needs to create 45,000 new housing units and 2.8m sqm of retail and office space over the next five years.

“We are a great business opportunity for investors because Copenhagen is growing fast in these years,” Jensen said.

The €8bn of planned investment included metro lines, bike lanes, a new arena and many other things, as well as new schools and kindergartens, he said.

“These are services people expect when they move to a city,” he said.

Jensen said there was plenty of available land and investment opportunities that were close to the city centre.

He cited space for 40,000 new housing units in the North Harbour district, as well as many business opportunities in South Harbour areas, including the former Carlsberg brewery site and the Ørestad district.

“Today, nearly 25% of all investments in Copenhagen are made by foreign investors, and I would be happy to welcome even more investors,” Jensen said.