Joshi cited ‘climate change and post-pandemic working patterns’ as key trends affecting the industry. ‘Within London, the Square Mile is also unique in the task it faces to meet increasing demand for the highest quality, sustainable office space and there is huge opportunity in the City for such development,’ he added.

Joshi suggested that sustainability is likely to drive the international policy agenda for the next decade, resulting in more public bodies looking to ‘private finance to fund the economic transition’, in a race against time to ‘avoid the worst consequences from climate change’.

‘Last year, London ranked number one in the Global Green Finance Index (GGFI) for the 4th consecutive time, leading in sustainability, human capital and infrastructure. Our climate action plans will drive both growth and jobs,’ he added.

Joshi is at Expo to ‘seek partnerships with the real estate market, informally and via partnering structures’, he said, as part of the City Corporation’s plans to diversify its ‘multi-billion-pound asset base over the next 10 years’. 

 He added: ‘With a 98% planning application approval rating, the City of London has a healthy pipeline of development, with many major schemes being submitted, as well as hundreds of thousands of square metres of office space development currently under construction.’

Meanwhile, he said that ‘demand for new offices… is at record levels’, underlining the corporate world’s ongoing flight to quality.

Joshi concluded: ‘We have a potential need of a minimum of 1.2 million m2 of additional office space, to meet rising business demand as the City positions itself for the period to 2040 under the new City Local Plan.’