Glasgow has won the race to host the 2014 Commonwealth Games, it was announced today.
The Scottish city had been in competition with the Nigerian capital Abuja to hold the event.
The decision, which it is estimated will cost the city £288m, is expected to be a great boost for the development and investment markets.
‘The Commonwealth Games now gives extra momentum for the continuing regeneration of Glasgow,’ said David Bell, CBRE’s Public Sector Group Director, ‘and also importantly sets a clear timeline for development.
‘We cannot underestimate the importance of this in terms of giving us all focus and motivation.'
He pointed to the regenerative effect the 2002 Games had for Manchester as a sign of the opportunities now available to the city.
The decision was decided by a vote of 71 nations and was announced in Colombo, Sri Lanka, at 12.45 today.