British Property Federation Hosts Annual Conference

A member of the business communities in Nigeria and the United Kingdom, Cecilia Ibru serves as a fellow with the Chartered Institute of Bankers of Nigeria. Earlier in her career, she led Oceanic Bank International Plc (now Ecobank Nigeria). Today, Cecilia Ibru continues to follow international financial trends.

In mid-June, the British Property Federation held its 2013 annual conference. Titled “The End of the Ice Age?,” the gathering featured keynote addresses from Lord Deighton of Her Majesty’s Treasury and Gillian Tett, an assistant editor at the Financial Times. The half-day event drew more than 300 senior property executives and offered several networking opportunities. Furthermore, these professionals attended sessions examining real estate and economic trends in London specifically, and throughout the UK more broadly. Organizers invited industry leaders and academics to participate in panel discussions ranging from “Property Finance: Solving the Debt Conundrum” to “Global Development: How Overseas Investment Is Shaping Our Cities.”

Especially in recent months, the British economy has started to move from stabilization into recovery, showing signs of continued improvement. With this growth, optimistic financial and real estate professionals hope to see an increase in property values and fewer restrictions on lending.

Royal Birth to Boost UK Consumer Spending

An international businesswoman with professional ties to both the United Kingdom and Nigeria, Cecilia Ibru has worked in the banking sector for more than two decades. Educated in London, Cecilia Ibru regularly follows financial and cultural current events in the UK.

As the UK awaits the birth of Kate Middleton and Prince William’s first child, experts predict that the country’s consumers will spend in excess of £240 million in celebration of the royal baby’s birth. Over the last quarter, the UK has experienced signs of recovery in the service sector and in overall exports. The increases in spending that are expected to accompany the royal birth can only add to this burgeoning recovery.

The Centre for Retail Research recently published a report that predicted consumers would spend more than £60 million on alcohol and £25 million on food in response to the birth. The remaining £155 million will likely stem from souvenir and keepsake sales. Currently, the Royal Collection Trust, a fund that supports palace maintenance, is selling royal baby paraphernalia, including Union Jack booties and baby sleep suits designed to imitate the Royal Guards uniform. The UK economy also saw a surge in spending before and after Kate Middleton and Prince William’s wedding in 2011, when consumers spent approximately £44 million.