London 'the best city in the world'

A panel of speakers at the MIPIM property conference in Cannes have described London as 'the best city in the world'.

Commenting on the prospects for the city, London Development Agency chair Mary Reilly said three crucial factors were combining to make the British capital an ideal place to live in.

First and foremost is the strong local economy, she said, which has allowed property in the capital to continue appreciating in value despite the wider downturn in national house prices.

The second crucial element is the commitment that all Londoners are included in the development and evolution of the city, with the capital's most underprivileged residents being the first to benefit from regeneration efforts.

And finally, Ms Reilly said, mayor Ken Livingstone's commitment to combat climate change is ensuring the UK retains its global image as a pioneer in green-friendly building practices and sustainable growth.

Summing up the future of the city, London First chief executive Jo Valentine affirmed the need to support further development in capital.

"We must treasure the golden goose, not kill it," she said. "We must also ensure it gets the trains it needs and the airports and flight routes it needs."

News posted on 14th March, 2008