It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Edward Ziff, chairman and Chief Executive of Town Centre Securities PLC (TCS).
Following the good work of the last two years, I am excited by TCS’ diversified portfolio and the potential of our strong development pipeline. I believe these show we have a sound business that is well placed for the future and can only benefit as more and more people return to normal city life.
However, it is hard to be completely optimistic. Businesses have been through a tough time during the pandemic, and it is a shame to be faced with more turmoil in our world. The Russia/Ukraine conflict and the unpredictability resulting from the situation has led to inflationary and other economic pressures not only on our business, but also those of our tenants including changes to consumer spending, increased property and other expenses, interest rate rises, a weakening sterling exchange rate, increased construction costs and rent affordability.
We remain focused on enhancing value for our shareholders and will continue to look at opportunistic disposals and acquisitions offering significant opportunities once there is further stability in the real estate sector and wider economy.
Considering the balance of the underlying progress we are making in resetting and reinvigorating our business and these macro-economic and geopolitical challenges, I remain encouraged about the many opportunities for TCS and committed to delivering on our accelerated four-pillar strategy and continuing to deliver value for all our stakeholders.
Once again as we take further steps towards returning to normal life, I wish everyone the very best for 2023.
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