British minister called on Indian real estate sector to invest in the UK market

Vastavam web: A British minister today called on the Indian real estate sector to continue investing in the UK market, saying the two countries should further advance their mutually beneficial relationship.Addressing some of India’s leading realtors and developers at the House of Lords in London, Minister of State for International Trade Greg Hands praised the industry s “fantastic track record” of investments in the UK.”Through a series of strong investments, like from Mumbai-based Lodha group who are expanding their business in the UK, India remains one of the top five investors into our country, securing and safeguarding thousands of jobs. I look forward to joining with my Indian colleagues to further advance the mutually beneficial relationship between our two countries,” he said.

As many as 800 Indian delegates, including high net worth investors, are in the UK this week to explore investments in residential and infrastructure developments across the country as part of the annual international convention of the Confederation of Real Estate Developers Associations of India (CREDAI).According to official figures, the market value of the UK s real estate is over 1.6 billion pounds, representing 21 per cent of total net wealth, and the UK claims to be the most popular destination for global real estate investment in Europe.Real estate contributes 94 billion pounds to the UK economy, accounting for 5.4 per cent of GDP, and making a huge contribution to employment and regeneration.The DIT said its experts will attend the event to promote bilateral infrastructure trade and investment opportunities between the UK and India and advise on the ease of doing business in the UK s housing and real estate sectors.Delegates will also be touring the UK, visiting the so- called Northern Powerhouse cities in the north of England and the Midlands as well as Scotland to look at real estate and infrastructure investment opportunities in local towns and cities.