The Scottish government’s ‘pro-business, pro-development’ agenda presents a significant opportunity for real estate investors, according to Finance Secretary Derek Mackay. He said there was great potential for foreign investment across a range of sectors and cities.
“We are open for business and we have a good track record of attracting investment,” he added. “We’ve put a competitive tax regime in place.”
Scotland is being represented in Cannes by a number of organisations and businesses, including development agency Scottish Enterprise, Scottish Development International, the Scottish Cities Alliance and the Scottish Property Federation. “This is the first time we’ve taken such a team approach to MIPIM,” Mackay said. “This is the premier property market and we are all working together. Scotland is such a strong brand.”
Mackay, from the Scottish National Party (SNP), said that much of the opportunity for investors from overseas remains in the country’s key cities of Glasgow, Edinburgh and Aberdeen, where there is strong demand for commercial property. He added that a shortage in the housing supply throughout Scotland also offered significant development potential.
This article was first featured in the MIPIM News issue 2, read it in full here…!