Navigating new horizons and sharing global learnings

In today’s interconnected and ‘smaller’ world, the importance of global partnerships and shared learning cannot be overstated. I have witnessed firsthand how these collaborations bring diverse expertise and resources, driving innovation and growth in the sector.

Whether in Ilford or Indonesia, we are all facing similar challenges in our endeavours to create housing for all and combat fuel poverty. Regardless of country, we typically rely on the same outdated old energy systems and networks, but collectively we understand that sustainable energy is the way forward, as proven by a variety of faster developing sectors across the globe. Technology is getting cheaper, although its affordability differs depending on where you are in the world.

The benefits of collaboration between UK and international developers are manifold. UK developers can bring their expertise in modern sustainable building practices, regulatory compliance and affordable housing funding models, while international partners can offer insights into emerging market trends and how to cope with rapid urbanisation and shifting economies.

There is merit in exploring new opportunities beyond the well-trodden paths of Dubai and China. While these markets have been, and continue to be, instrumental in the growth of UK markets, we must also recognise the potential of emerging markets such as Indonesia, which recently leapfrogged the UK and France to become the eighth largest economy in the world according to GDP.

With Svarna Property Indo, we are advising on two projects – a subsidised affordable housing scheme and a new eco-tourism development, which will be one of the first in the area. Meanwhile, for PT Adhi Commuter Properti Tbk (ADCP), we are supporting on new mixed-used schemes designed around a new large-scale, light rail-led development.

Light rail is – as the name suggests – lighter and more sustainable than conventional train systems and is increasingly being adopted across the rest of the world, including Asia, Germany and Europe, where light rail systems are more widely used and integrated into urban transport networks. There is no reason why the UK couldn’t become a bigger advocate of this.

The rise of geopolitical tensions in some regions, such as the Middle East and Taiwan, have prompted some investors to explore new opportunities in what are seen as safer markets.

Similarly, many Islamic investors are starting to realign their moral compasses with investment decisions. Shariah-compliant investments, which avoid interest and speculative activities have gained popularity. The Islamic finance industry, projected to surpass $4tn by the end of 2025, offers various ethical investment opportunities, including green Sukuk and Shariah-compliant REITs. These investments not only provide financial returns but also adhere to Islamic values, making them attractive to investors seeking both profitability and ethical alignment.

Special economic zones are also attracting serious capital. Just recently, Singapore and Malaysia inked the Johor-Singapore Special Economic Zone Agreement, aimed at attracting high-value investment into the region and creating 20,000 job opportunities across a diverse range of sectors within the first five years. In light of this, the UK, US and Europe need to think outside of the box to attract new investment and remain competitive on the global stage.

Back in the UK, Labour is hoping to turn the UK into an AI superpower by developing multiple major data centres, but the UK’s infrastructure can barely support an EV charging system, let alone power-hungry data centres. Cost of electricity is still the highest in Europe, so how does Labour think we will overcome these challenges? Again, what can we learn from our overseas counterparts in this field?

And how can we work with global partners? The beauty of global partnerships is that they allow us to tap into a wealth of knowledge and experience from different markets. By collaborating with other nations, we can learn from their successes and challenges, adopting best practices that can be tailored to our local context and vice versa. This exchange of ideas fosters creativity and innovation, enabling us to deliver better projects that bring wider benefits for all.