Scottish Cities Alliance

For immediate release

The Scottish cities alliance launches its largest investment portfolio at expo real

Investment prospectus presents billons of euros of investment opportunities in Scotland’s cities

At Expo Real 2018, the Scottish Cities Alliance, a unique collaboration of Scotland’s seven cities and the Scottish Government, will launch its largest investment portfolio yet, with billions of Euros worth of prime development opportunities.

The Investment Prospectus covers a range of investment and partnership opportunities in real estate, spanning commercial, private rented, retail and leisure as well as business parks and bioscience campuses. This includes one of the largest active regeneration projects in the UK, the £1bn (€1.1bn) Dundee Waterfront development which last month saw the launch of the world’s only V&A Museum outside London. The scheme covers 5 key zones along an 8km stretch of Dundee’s waterfront.

The combination of Scotland’s low corporation-tax, which is set to decrease to 17% in 2020, and highly-skilled workforce remain some of the largest assets to foreign investors. These are bolstered by the Scottish government’s increasing investment in world-class education and tech development, Smart Cities programme, alongside aggressive renewables and low-carbon targets.

EY’s 2018 Attractiveness Survey again rated Scotland as the most attractive investment location in the UK outside of London, with the nation topping the charts for Research & Development investment. Scotland is one of the largest life sciences clusters in Europe, with over 600 life sciences organisations employing more than 30,000 people.

In spring 2017, the First Minister of Scotland, Nicola Sturgeon, signed a joint economic declaration to foster stronger business links between Scotland and Bavaria, Germany. In the spring, Berlin Chamber of Commerce signed a Memorandum of Understanding with Glasgow Chamber of Commerce, and this was followed by a trade delegation from Scotland to Berlin, led by First Minister Nicola Sturgeon, who held a roundtable discussion in the German capital with a group of German investors.

The Scottish Government opened its Berlin Hub in April which aims to boost trade links between Germany and Scotland as Germany is the third largest source of direct foreign investment to Scotland.

Scottish cities have strong investor links with Germany with German real estate fund Leading Cities Invest acquiring Edinburgh’s Greenside office building in the summer and Munich Based Motel One recently opening their first hotel in Glasgow – the development propositions showcased in our new Investment Prospectus will continue to offer further great opportunities for German investors.

First Minister of Scotland, Nicola Sturgeon, said: “Scotland is a hugely attractive place for companies in Germany and throughout the EU to do business with and invest in. Indeed, 155 German companies currently employ 18,000 people in Scotland – with many German citizens also living, working and studying here.

“The ongoing risks posed by Brexit only reinforces our determination to promote Scotland in Europe and around the world. We cannot allow Scotland’s appeal to firms from abroad to be jeopardized by a no deal or no detail Brexit. Staying in the EU would be best but if that is not possible we will continue to set out the unequivocal case for continued membership of the Single Market and Customs Union, which is around eight times bigger than the UK market alone.”

Councillor John Alexander, Chair of the Scottish Cities Alliance, said: “I am delighted to launch our biggest and best Investment Prospectus to date, featuring billions of pounds of potential investments across our seven cities.

“The propositions featured in the new Investment Prospectus offer investors many opportunities in a broad range of sectors to work with our vibrant and modern cities.

“By working together, Scotland’s cities are being showcased on a global stage, highlighting the fact that we have world-class resources such as one of the most highly educated workforces in Europe, competitive tax policies, a reputation for innovation and a strong international brand.

“As Chair of the Alliance I look forward to building on the successful projects that the Alliance has already helped to deliver in Scotland and by working with all partners we can attract further significant investments from around the world to help deliver a strong future economy for a more prosperous Scotland.”

A launch for the Investment Prospectus will be held on the PropertyEU Stand at Expo Real in Munich on Monday, 8^th October 2018. Please be in touch should you wish to join.

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NOTES TO EDITORS – News from Scotland’s cities in 2018

Commercial/Office Space

Barclays develops a new campus in Glasgow for its functions, technology and operations teams, doubling its current workforce in Scotland.

Renewable energy

Scotland foresees phasing-out new petrol and diesel cars by 2032, years before the 2040 deadline set by the UK government.

Life sciences and biotech

Scotland becomes one of the largest life sciences clusters in Europe, with over 600 life sciences organisations employing more than 30,000 people.

Retail and Leisure

V&A Dundee opened last month, attracting international attention to £1bn Waterfront development.

Tourism and Hospitality

Hotel investment in the first half of 2018 soars to double that of all 2017.

Aerospace

Space UK vertical launch station in Sutherland is set to become the first in mainland Europe.

Further notes to editors

The Scottish Cities Alliance is a unique collaboration of Scotland’s seven cities and the Scottish Government working together to deliver economic growth through investment in infrastructure. With a new Investment Prospectus promoting the billions of pounds’ worth great potential across the seven city regions, the Alliance aims to attract external investment, stimulate economic activity and create new jobs and business opportunities.

By utilising the strengths of Scotland’s seven cities, the Alliance engages with Scottish investors through events across the seven cities and beyond. By working together Scotland’s cities can create projects of scale and achieve an economically stronger future for Scotland.