Real estate is a facilitator of economic activity. By offering spaces for businesses to operate, they provide the business infrastructure without which an advanced economy could not develop. In addition, high-quality, modern and innovative buildings contribute to maintaining the image and reputation of countries as centers of international trade with the aim of attracting skills and capital from the rest of the world, providing new opportunities.
Real estate is a source of employment in several areas; not only for architects, builders and engineers, but also for legal and financial advisers, surveyors, facilities managers and all those who are involved in the construction industry.
Real estate plays a vital role in the provision of infrastructure. It is easy to see that the infrastructure creates the conditions for real estate development, but it must not be forgotten that it is a two-way relationship. Tube extensions, schools, hospitals, etc. are examples of projects whose viability may depend to a great extent on the associated real estate development.
Real estate-related assets represent an attractive asset class for institutional investors, such as pension funds, insurance companies, and sovereign wealth funds. This not only maximizes investment opportunities and benefits for pensioners and savers, but also enables the creation of large urban regeneration projects.