The British Property Federation (BPF) has welcomed the creation of the Regeneration Investment Organisation (RIO), a new body designed to attract more inward investment into UK regeneration projects.
The BPF said the launch of RIO, announced by the Prime Minister as he makes a key foreign policy speech at the Lord Mayor's Banquet, could be hugely beneficial to foreign direct investment in UK infrastructure and serve as a catalyst for economic growth.
The BPF has for some time urged Government do more to attract inward investment into major UK development and regeneration opportunities, and today praised the launch of RIO as a landmark move by Government in support of such calls.
RIO, chaired by Sir Michael Bear, will be conducted under the authority of UK Trade & Investment (UKTI), and will focus on identifying credible projects and securing new investment in regeneration and infrastructure opportunities in the UK by matching the UK’s needs with those of interested investors from around the world.
Liz Peace, Chief Executive of the BPF, said: "We are delighted that Government has heeded the calls of the UK development industry and has tasked UKTI to do more to attract investment into major development and regeneration opportunities.
“There are a number of excellent regeneration investment opportunities across the UK that, with the right kind of marketing, will be extremely attractive to overseas investors. Sir Michael’s involvement bodes particularly well in view of his strong background in property and construction.
“The UK has historically been welcoming of those who wish to invest in our country, and we would urge Government to ensure that the current speculation over the tax treatment of foreign investors is not allowed to hold back this important initiative.”
