Joined-up policy-making in cities is the key to attracting investment, according to the findings of a new report presented at the Mipim trade fair by the Royal Institution of Chartered Surveyors (RICS).
Joined-up policy-making in cities is the key to attracting investment, according to the findings of a new report presented at the Mipim trade fair by the Royal Institution of Chartered Surveyors (RICS).
The findings show that when city policy-makers align their policies to attract both employers and employees, businesses are more likely to locate there.
The report Corporate Real Estate: Global Cities and Investment collates findings from RICS discussion forums in nine global cities, and examines the factors which attract or deter companies from locating their commercial and industrial space.
The report shows that while cities are competing across the globe to attract and retain companies' commercial and industrial sites, in many cases they fail to provide business with a coherent case to locate.
The main message coming out of the discussion forums is that the cities which will continue to flourish are those which understand the full range of business demands - a talent pool, good 'liveability', transport infrastructure, business-friendly tax and regulatory regime - and act accordingly.
Tom Pienaar, head of external affairs at RICS, commented: ‘The range of factors attracting corporates to locate are varied, but the challenge for cities is to join these different policy areas into one coherent offer to businesses.’
