Arada UK boss’s three-point plan to get Britain’s building industry bouncing
The boss of Arada UK has put forward his proposals to get "spades in the ground" to boost the UK’s property-reliant economy. Jonathan Seal, chief executive of the Sharjah-based developer 's UK arm, has made three suggestions he believes would to speed up housebuilding and restart the property market: ease lending to first-time buyers, update stamp duty and simplify planning. He put forward his…
Jonathan Seal, the CEO of Arada UK, has proposed a three-point plan to boost the UK's building industry and stimulate the property market. The suggestions include easing lending for first-time buyers, updating stamp duty, and simplifying the planning process. Seal made these proposals during a visit to Downing Street to meet government advisers.
Arada UK, which acquired Regal London and a Thameside West waterfront regeneration project, has made significant progress in London with projects like 100 Avenue Road in Swiss Cottage and plans for student accommodation and a new urban quarter. However, the UK's property industry has not matched this pace, with many housing ministers over the past 20 years failing to see their vision through.
Prime Minister Andy Burnham aims to build the "biggest council house-building programme" since World War II, but the property market remains sluggish with London prices down 20% from their 2014 peak.
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