Building a bright future for Wales is more than just a catchy phrase—it’s a call to action, and the time to act is now! 🏗️🏠
Giles Thorley, Chief Exec of the Development Bank of Wales, highlights an urgent need: we must boost our SME housing developers to tackle ongoing housing shortages. Housing isn’t just a necessity; it’s a backbone for community well-being and economic growth. With construction driving so much of our economy and community life, we cannot afford to pause on progress.
While big national builders are crucial, we can’t rely solely on them. In the 1980s, smaller, local builders contributed to 40% of new homes, but now they’re only building 9%. These local developers are the key to flexible, responsive building projects that meet local needs—and they’re vital to our future.
Wales has pioneered sustainable decision-making with the Well-being of Future Generations Act. But, to truly transform, public and private sectors must join forces. Public finance offers stability, while private investments inject innovation. Together, they can fuel long-term infrastructure projects, create jobs, reduce poverty, and improve health and education outcomes.
Increasing access to capital for smaller, local builders is a must. It’s more than an economic issue; it’s about enhancing social wellbeing. When we empower small builders, we empower our communities, driving local wealth and ensuring that prosperity circulates within our regions.
Our property investment is already skyrocketing, with a 27% increase last year. Projects like Parc Eirin and eco-friendly schemes like Maes y Teirw demonstrate what’s possible with the right backing and collaboration.
Let’s turn potential into action. We have the ambition, policies, and opportunities. Now, it’s time for delivery—on a larger scale, with increased speed, and through strong partnerships. Because building Wales’ future isn’t just a plan; it’s a necessity, and there’s no better time to start than now! 🏘️🌍
#FutureOfWales #BuildingTogether #CommunityGrowth #SustainableDevelopment #WalesHousing