For internationally mobile Britons, choosing where to establish a second home or longer-term base has become a much bigger decision than finding sunshine and a favourable tax regime.

Residency rights, access to markets, family mobility, property ownership, political stability and the eventual tax consequences of relocation all matter. Increasingly, the question is not simply where can I live well? but which jurisdiction best supports the next ten or twenty years of my life?

Dubai has dominated that conversation for much of the past decade. Its combination of global connectivity, modern infrastructure and an exceptionally business-friendly environment has attracted British entrepreneurs, executives and investors in considerable numbers.

Yet Greece is becoming a serious alternative — not because it is attempting to replicate Dubai, but because it offers something fundamentally different.

Two destinations built around very different strengths

Dubai’s appeal to internationally mobile professionals is well established. It is one of the world’s most connected aviation hubs, offers an extensive ecosystem for international businesses and has developed a lifestyle infrastructure capable of serving a highly mobile expatriate population.

For entrepreneurs whose commercial interests extend across the Middle East, Asia and Africa, those advantages can be difficult to replicate elsewhere.

Greece presents another proposition.

It combines Mediterranean living with membership of the European Union, Eurozone and Schengen Area. For British nationals adjusting to the loss of automatic EU freedom of movement following Brexit, establishing legal residence in an EU country can therefore carry value extending well beyond the ability to spend more time in the sun.

The decision between Greece and Dubai increasingly comes down to what an individual wants residency to accomplish.

Someone considering Greece as a permanent or semi-permanent European base should look beyond individual visa programmes and understand the wider practical implications of relocation. A comprehensive Guide to Relocating to Greece can help British nationals assess residency alongside healthcare, property, taxation and the realities of establishing life in the country.

Europe itself has become part of the investment case

For some British investors, Greece’s greatest attraction is not a particular property or tax advantage. It is geography combined with legal status.

Holding Greek residence can provide qualifying non-EU nationals with a base inside the Schengen Area. That can be particularly useful for families who expect to spend substantial time across continental Europe, investors with European interests and retirees who want considerably more permanence than repeated short stays allow.

Where someone establishes a long-term home affects family life, education, social networks, travel patterns and eventually succession planning. An investment decision that appears attractive over five years may look very different when considered over twenty.

Greece’s proposition is consequently strongest when viewed as a combination of European access, lifestyle and long-term optionality, rather than purely as an investment migration product.

Dubai’s strengths remain formidable, but different: international commerce, connectivity, efficiency and an environment deliberately designed to attract global capital and talent.

Greece’s Golden Visa has become more selective

Residency by investment remains an important part of Greece’s appeal, although investors familiar with the programme’s original €250,000 headline should be careful.

The programme is now considerably more targeted.

Property thresholds now vary according to location and the qualifying investment route. Standard residential purchases can require €400,000 or €800,000, while certain qualifying commercial-to-residential conversions and listed-building restoration routes can remain available from €250,000. The Greek programme generally provides a renewable five-year residence permit and Schengen mobility without imposing a general minimum physical-presence requirement simply to maintain the permit.

A business owner might continue spending substantial periods in Britain or elsewhere while creating a European base for the family. A retiree could divide the year between jurisdictions. An investor might initially regard Greece primarily as a property and residency decision before considering a more permanent relocation later.

Anyone considering this route should examine the current hyperlink to rel=”nofollowGreece Residence by Investment rules because purchasing Greek property and purchasing property that actually qualifies under a specific Golden Visa route are not necessarily the same thing.

Property also matters to the Greek proposition.

Athens is experiencing significant redevelopment, while investment in the Athens Riviera and major regeneration projects is changing perceptions of parts of the capital and its coastline. The opportunity is consequently broader than acquiring a holiday home.

For overseas buyers, however, residency eligibility should never substitute for investment fundamentals.

Location, title, planning status, rental demand, ongoing costs, developer quality and eventual resale prospects remain important whether a purchase is in Athens or Dubai. A mediocre property does not become a good investment simply because it facilitates residency.

Dubai demands the same discipline. Its sophisticated property market offers substantial choice and strong international demand, but investors need to account for purchase costs, service charges and the performance characteristics of individual developments rather than relying on the city’s wider reputation.

In both markets, immigration benefits should complement a sound investment case — not disguise a weak one.

Tax is where simplistic comparisons become dangerous H2

The most eye-catching difference between Greece and Dubai is often presented as taxation.

The UAE does not impose federal personal income tax on individuals, while Greece operates a conventional European tax system.

It does not.

Immigration residence and tax residence are different concepts. Obtaining permission to reside somewhere does not, by itself, determine where all of an individual’s income and gains will ultimately be taxed. The underlying source article specifically warns against treating either Golden Visa as an automatic determination of tax residence.

For British nationals, the position can be particularly nuanced. UK residence status, time spent in different countries, the location and source of income, property ownership, pensions, investments and applicable double-taxation arrangements can all become relevant.

Greece also has specific tax regimes that can be attractive to certain qualifying new residents. These should be assessed on their own terms rather than treated as automatic benefits of Greek immigration status.

Understanding hyperlink to rel=”nofollow Taxation in Greece is therefore considerably more important than choosing a destination on the basis of headline tax rates.

For affluent households in particular, the sequencing of a move can matter almost as much as the destination. Decisions involving pensions, investment disposals, businesses and property can have consequences on both sides of a relocation.

So is Greece really an alternative to Dubai?

Neither destination wins this comparison universally.

Dubai remains exceptionally compelling for entrepreneurs and executives whose priorities are international business, global flight connections, modern infrastructure and a highly tax-efficient personal environment.

Greece is increasingly compelling for a different group: British retirees, investors and internationally mobile families who want to establish a durable European base while retaining flexibility over how much time they actually spend there.

It can also appeal to people who value the combination of property ownership, Mediterranean lifestyle and Schengen mobility more highly than proximity to the commercial centres of the Gulf.

The decision should not be reduced to tax rates or minimum property prices.

They will ask a harder question: where do I want my family, assets and international life to be positioned ten or twenty years from now?

For commercially focused entrepreneurs, Dubai may remain the stronger choice.

For Britons seeking a long-term European base, Greece presents a credible alternative.

Walmart has received nearly $3 billion in tariff refunds and says it will use some of the benefit to help keep prices low for shoppers, while the windfall also gave quarterly profit growth a significant boost.

The company said it “prioritized investment in price” after receiving refunds tied to tariffs imposed under the International Emergency Economic Powers Act, or IEEPA.

The refunds came as Walmart continued leaning into its value proposition. The retailer pointed to more than 11,000 price rollbacks across its U.S. stores during the quarter.

“We’re investing in prices because customers are looking to us for value,” the company said in an earnings release. 

WALMART E-COMMERCE SALES SURGE AS CEO TOUTS ‘PRICE, SPEED AND CONVENIENCE’

Customers shop at a Walmart store on May 18, 2023, in Chicago, Illinois.  (Scott Olson/Getty Images / Getty Images)

The tariff refunds also provided a substantial boost to Walmart’s quarterly earnings. Adjusted operating income rose roughly 17% on a constant-currency basis, with the refunds contributing a 750-basis-point net benefit.

Excluding that benefit, Walmart said underlying operating income growth still reached the top end of its previous 7% to 10% second-quarter guidance.

Sales also continued to rise. Total revenue increased 5.9%, while comparable sales at Walmart U.S. grew 2.6%, excluding fuel.

Walmart has received nearly $3 billion in tariff refunds and says it will use some of the benefit to help keep prices low for shoppers. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)

Walmart’s digital businesses posted faster growth. Global e-commerce sales increased 23%, including a 24% gain at Walmart U.S. and 26% growth at Sam’s Club U.S.

Store-fulfilled delivery at Walmart U.S. jumped 40% during the quarter, while marketplace net sales increased more than 50%.

Customers shop at a Walmart store on May 13, 2026, in Chicago, Illinois. (Scott Olson/Getty Images / Getty Images)

The retailer said stronger sales, improving business economics and continued investment in pricing and technology gave it confidence to raise its sales and operating-income growth guidance for the year.

Walmart generated $19.7 billion in operating cash flow during the period, along with $5.5 billion in free cash flow.

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The tariff refunds add another lever to Walmart’s push to hold down prices as it competes for value-conscious shoppers while expanding its higher-growth e-commerce, marketplace and delivery businesses.

President Donald Trump and top financial regulators hosted key figures in the cryptocurrency and digital assets industries at the White House Wednesday, with a major legislative priority for the administration and those industries nearing the finish line.

Cody Carbone, CEO of The Digital Chamber, attended the meeting and said in an interview with FOX Business the “main takeaway was that the U.S. is not going to slow down in its objective of becoming the crypto capital of the world.”

“There was a lot of talk about the CLARITY Act, this legislation that’s in front of us, and that there was a desire and need to get this done,” Carbone said, noting there is bipartisan support for the bill and that President Trump indicated he hopes to sign it into law in September.

“It was very clear from the president’s comments and from the discussion that the U.S. government and the Trump administration are not going to wait, necessarily, for legislation,” he said. “The SEC and the CFTC have been given the authority from this White House and the mandate to move very quickly.”

COINBASE CEO SAYS CRYPTO BILL COULD TRANSFORM US FINANCIAL SYSTEM AS SENATE VOTE APPROACHES

President Donald Trump delivers remarks alongside financial regulators and leaders in the cryptocurrency and tech industries in the White House’s Roosevelt Room. (Alex Wong/Getty Images)

The CLARITY Act would establish legal definitions for digital assets, network tokens, digital commodities and more, while also creating mandates for regulatory agencies, including the SEC and CFTC, to regulate the sector without creating overlapping or contradictory rules.

“The biggest thing that the bill will do is durability. People need to understand that the regulatory framework that is going to be created by the CLARITY Act is not just going to be here for decades and decades to come,” Carbone said, noting it will help builders, issuers and platforms certainty about regulatory compliance.

“It’ll give retail investors, institutional investors more consumer protections, more disclosures,” he said. “When you pass clear rules of the road, like we saw with the GENIUS Act, the market responds immediately. The stablecoin market in the post-GENIUS Act world in the first year almost doubled overnight in the U.S. CLARITY will do that for the rest of the market.”

TRUMP-LINKED WORLD LIBERTY CRYPTO VENTURE GETS PRELIMINARY APPROVAL FROM CURRENCY COMPTROLLER

The Digital Chamber CEO Cody Carbone said the meeting included a focus on U.S. innovation in digital assets and other aspects of tech, such as AI. (Al Drago/Bloomberg via Getty Images)

The Senate is expected to begin the procedural process of considering the CLARITY Act in mid-September, when the upper chamber is scheduled to be in a three-week session before a lengthy recess in October ahead of the midterm elections in November.

“There is a ton of motivation, not just from the administration as we saw [Wednesday], but from Republicans and Democrats in Congress to get this done — especially before the election. It just becomes too hard to legislate after September. Then you’re in the October recess, then it’s the election and then it’s the lame duck,” Carbone said.

“We don’t want to leave this up for chance. This is the time. We’ve never been closer to enacting a market structure bill.”

ANDREW CUOMO WARNS CONGRESS IS RUNNING OUT OF TIME ON BLOCKCHAIN REGULATION, SAYS FAMILIES COULD SAVE ON FEES

Carbone said if the CLARITY Act stalls in September with no path forward, the focus is likely to shift to agencies like the SEC and CFTC. He noted that SEC Chairman Paul Atkins and CFTC Chairman Michael Selig indicated they would look to implement many of the bill’s provisions through the regulatory process.

“They all want to see CLARITY done, just like we do. But if the ultimate fate of CLARITY over the next six weeks is that it will not pass — and we’re hoping that’s not the case — then I would imagine the SEC and the CFTC will get even more active very, very quickly, shortly thereafter,” he said.

Bitcoin and other cryptocurrencies are part of the emerging digital assets sector, which policymakers are crafting regulatory frameworks for. (Jakub Porzycki/NurPhoto via Getty Images)

The meeting was also attended by representatives from more traditional corners of the finance sector, including exchanges, and included an overarching theme of American innovation and technological leadership spanning not just digital assets and blockchain but also artificial intelligence (AI).

“This was pretty remarkable to hear the president double and triple down that it’s not just about the U.S. being the crypto capital of the world, but we need to be the envy of the entire world on all innovation,” Carbone said. “That’s pretty amazing to hear.

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“It was a breath of fresh air and almost a sigh of relief,” Carbone said, explaining that while there “may be some disappointment about where the legislation stands right now, that this administration is not going to let up. 

“They’re going to do everything that they can to make sure that U.S. entrepreneurs feel very, very comfortable, U.S. investors feel very, very comfortable, that they can continue to build wealth and to invest in new products right here in the U.S.”

The branch on Old Christchurch Road will operate under strict safety measures

A Savers store in Bournemouth town centre has been granted permission to sell alcohol, despite concerns over a rise in anti-social behaviour in the area.

The retailer submitted an application for a premises licence to sell alcohol at its outlet on Old Christchurch Road, Bournemouth, between 7am and 8pm Monday to Saturday, and from 9am to 5pm on Sundays.

During a meeting on August 5, committee members heard that Savers has been selling alcohol across its stores since 2012 and already holds licences at approximately 320 locations throughout the UK.

The company was keen to emphasise that it is not a specialist alcohol retailer, with sales of alcoholic products accounting for approximately one per cent of its overall turnover.

To allay concerns surrounding crime, disorder and public nuisance, the company outlined a series of measures it intends to implement to maintain control of the situation.

These include staff training, CCTV installation, the deployment of a security guard at the entrance, alcohol displays positioned in view and close to the tills, and participation in the Bournemouth Shop Watch Radio Scheme.

A decision notice published on August 19 confirmed that the committee carefully considered all representations but concluded that Savers has “significant experience of operating licensed premises”.

Hyundai Motor Group’s luxury brand Genesis is launching a new electric SUV with more than 300 miles of estimated range and a cabin packed with technology. 

The new GV90 is expected to travel about 310 miles on a full charge. Genesis says its battery can charge from 10% to 80% in about 22 minutes when using a 350-kilowatt fast charger, according to a Wednesday announcement from the brand.

“Our new flagship SUV represents our vision for the future while embodying the very best of Genesis, staying true to the distinctly Korean values of hospitality and craftmanship that have shaped our journey,” José Muñoz, president and CEO of Hyundai Motor Company, said in a statement.

The SUV will be offered in standard and Neolun versions. 

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The Genesis GV90, the luxury brand’s new flagship electric SUV, is shown here. (Genesis)

The standard GV90 features traditional doors, while the Neolun model uses coach-style doors that open in opposite directions. 

The design creates a wider opening, which Genesis says makes it easier for passengers to get in and out of the vehicle.

Safety features include 12 airbags, with a new roof airbag designed to deploy across the glass roof during severe rollover crashes. 

The SUV also includes reinforced structural components, enhanced battery safety and an in-cabin monitoring system, according to Genesis.

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Inside the vehicle, the GV90 comes with a pop-up OLED cinematic display, a 25-inch head-up display, Hyundai Motor Group’s Pleos Connect “infotainment” system and a generative AI assistant called Gleo AI.

It also features a 25-speaker Bang & Olufsen 3D audio system.

The Neolun version adds motorized front seats that can rotate 180 degrees while the SUV is parked.

“Occupants can now engage in a face-to-face lounge-like configuration, ideal for socializing or conducting business,” as noted in the announcement.

KIA AND HYUNDAI ISSUE MAJOR RECALLS FOR OVER 335,000 VEHICLES DUE TO FUEL TANK MELTING RISK

The Genesis GV90 is shown from the rear. (Genesis)

Hyundai Motor Group Executive Chair Euisun Chung described the GV90 as a “new vision for luxury mobility.”

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“Technology alone does not create luxury, and design alone does not define luxury,” Chung said. “The value of innovation lies in transforming the customer experience in intelligent and intuitive ways to improve people’s lives.”

Hyundai Motor Group did not immediately respond to FOX Business’ request for details on when the GV90 will go on sale.

When a Premier League footballer, a reality TV star or a chart-topping musician suddenly appears with a restored hairline, the work was very often done in Istanbul.

Turkey performs an estimated one million hair restoration procedures a year, and the country’s most experienced surgeons now compete for the same discerning clientele that once flew to Los Angeles or Harley Street. For anyone researching a premium hair transplant Turkey option from a practice like MedArt, widely regarded as the best hair transplant clinic in Turkey, the real question is no longer whether the country can deliver — it is which clinics consistently produce the kind of undetectable, camera-ready result that stands up to close scrutiny under studio lighting.

This ranking looks at five Turkish clinics with a track record of high-visibility outcomes: natural hairline design, dense but soft frontal zones, and results that do not announce themselves as surgery.

Why Turkey Has Become the Destination for High-End Hair Restoration

Turkey’s reputation was built on price, but its top tier is now built on volume of experience. A senior Istanbul surgeon may perform more transplants in a year than a European colleague does in five, and that repetition matters enormously in a procedure where artistry is as important as technical skill.

Modern Istanbul hair transplant facility used by international patients travelling to Turkey

Three factors explain why celebrity-grade work is achievable in Istanbul:

• Specialisation. The leading clinics do nothing but hair. There is no cosmetic surgery sideline diluting focus.
• Large, trained technical teams. Graft handling — extraction, storage, implantation speed — determines survival rates. Turkish clinics employ dedicated, long-serving technicians rather than rotating staff.
• Cost structure. Lower overheads mean a patient can access a top surgeon for a fraction of UK pricing. Comparing a realistic Hair transplant Turkey price against a London quote for the same graft count typically shows a 60–75% difference.

What separates a premium result from an average one is rarely the machine used. It is hairline planning, angle and direction of implantation, graft-per-square-centimetre discipline, and honest limits on what a donor area can supply.

Quick Comparison: Turkey’s Top 5 Clinics for Premium Results

MedArt Hair — The Strongest All-Round Choice for Natural, Undetectable Results

MedArt Hair has built its reputation on the part of the procedure patients notice most: the front. Hairline design is handled by the treating doctor rather than delegated, with the frontal zone drawn against facial proportions, forehead height and the patient’s natural growth pattern before a single graft is extracted. Single-hair follicles are reserved for the leading edge, with progressively thicker groupings behind — the technique that makes the difference between a hairline that reads as natural on camera and one that looks like a transplant.

Dr. Busra Yakupoglu, hair transplant surgeon at MedArt Hair in Istanbul

The clinic works with both Sapphire FUE and DHI, choosing based on the case rather than promoting one method as universally superior. DHI tends to be favoured for tight frontal work and smaller sessions; Sapphire FUE for larger coverage across mid-scalp and crown. Sessions are limited in number per day, which keeps graft out-of-body time short — the single most underrated variable in survival rates.

Before and after hair transplant results from a MedArt Hair patient in Istanbul

MedArt’s published Hair Transplant Turkey Results gallery is unusually forthcoming: photos are taken under consistent lighting at fixed intervals, including the awkward three-to-five-month phase most clinics quietly skip. English-speaking coordinators handle the logistics — airport transfer, hotel, translation, medication — and follow-up continues through the full 12-month growth cycle rather than ending at the airport.

Best for: Patients who want a genuinely natural hairline, transparent documentation and premium care without boutique-tier pricing.

Sapphire Hair Clinic — Precision Instrumentation and Dense Frontal Packing

Sapphire Hair Clinic takes its name from the sapphire-tipped blades used to create recipient channels, which produce smaller, cleaner incisions than traditional steel slits. In practice, that allows tighter graft placement without compromising blood supply — useful for patients who want visible density in the frontal third rather than mere coverage.

The clinic is known for methodical planning and a conservative attitude toward session sizes, declining to promise 6,000-graft mega-sessions where the donor area cannot realistically support them. Photographic documentation is thorough, and the technical team is stable, which shows in consistency between cases.

Best for: Patients prioritising maximum frontal density from a single well-planned session.

Dr. Serkan Aygin Clinic — Istanbul’s Best-Known International Name

Few Turkish hair clinics have the international profile of Dr. Serkan Aygin, whose practice has treated patients from more than 100 countries and holds European recognition for medical excellence in hair restoration. The clinic is a familiar name to British patients in particular, thanks to consistent media coverage and a long operating history in Istanbul.

The operational model is high-volume but well-systematised: dedicated consultation, standardised aftercare protocols, multilingual coordination and a large support team. Dr. Aygin’s own background is in dermatology, and the clinic places notable emphasis on diagnosing the cause of hair loss before recommending surgery — including cases where medical treatment rather than transplantation is the correct answer.

Best for: Patients who value an established, heavily reviewed name with strong medical diagnostics.

ASMED Surgical Medical Center — Boutique, Surgeon-Led, One Patient a Day

ASMED, founded by Dr. Koray Erdoğan, operates at the opposite end of Turkey’s market from the volume clinics. It typically handles a single patient per day, and the surgeon is directly involved throughout using a manual “Sequential FUE” approach designed to protect donor architecture over multiple potential sessions.

This is the clinic frequently cited on international hair-loss forums for repair work and for cases where a previous transplant left visible scarring or a poorly designed hairline. Pricing reflects the model — several times the Istanbul average — but so does the level of surgeon involvement and case selectivity.

Best for: Complex cases, repair work and patients for whom cost is secondary to surgeon-performed precision.

HLC Hair Clinic — Hairline Artistry at the Highest Level

Based in Ankara and Istanbul, HLC has spent two decades building a reputation for the most technically refined hairlines in Turkey. The clinic works exclusively with manual FUE, keeps case numbers deliberately low, and is known for exceptionally natural transitions between transplanted and native hair.

HLC’s philosophy leans conservative: realistic graft counts, long-term donor management and a willingness to turn away patients whose expectations exceed what their donor supply can deliver. For patients whose hair will be examined closely — on screen, on stage or in photographs — that restraint is a feature rather than a limitation.

Best for: Patients seeking the most refined possible aesthetic result and prepared to pay premium rates for it.

Summary Verdict: Which Clinic Suits Which Patient?

What Actually Produces a Celebrity-Grade Result

Marketing language is easy to produce; the following signals are harder to fake.

• The doctor designs the hairline. Ask directly who draws it and who oversees implantation. If the answer is vague, keep looking.
• Long-interval photographs. Insist on 12-month results, not four-month teasers, and on cases with hair loss comparable to your own.
• Realistic graft numbers. A credible clinic will quote a range after examining your donor density — not a round number before seeing a photograph.
• Stated implantation density. Around 40–50 grafts per cm² in the frontal zone is a strong, natural-looking target; claims far beyond that deserve scepticism.
• Aftercare that lasts a year. Growth is not linear. Genuine clinics schedule check-ins at three, six and twelve months.
• Honest refusals. A surgeon who declines to operate, or recommends medical therapy first, is demonstrating judgement — the very quality you are paying for.

Frequently Asked Questions

Do celebrities really have hair transplants in Turkey?

Numerous public figures, including internationally known footballers and television personalities, have openly confirmed treatment in Istanbul. The reason is straightforward: Turkey’s leading surgeons perform very high case volumes, and discretion, private facilities and short recovery windows suit people with public schedules.

Does paying more in Turkey guarantee a better hair transplant?

Not automatically. Boutique clinics charging premium rates offer greater surgeon involvement and lower daily case loads, which suits complex or repair cases. However, several mid-priced Istanbul clinics deliver comparable aesthetic outcomes for straightforward cases. What matters is who plans and performs the work, not the invoice total.

How long before a transplant looks completely natural on camera?

Transplanted hairs shed within the first month, then regrow gradually. Most patients see meaningful coverage by month six, and the final texture, density and styling flexibility settle between months 12 and 18. Fine-tuning a hairline for close-up photography realistically requires a full year of patience.

Is one session enough for a fully restored hairline?

For many patients with stable, moderate loss, yes. Those with advanced thinning, or who continue losing native hair, may need a second smaller session to refine density. Reputable clinics discuss that possibility upfront and plan donor use accordingly rather than exhausting it in one sitting.

The Bottom Line

Turkey’s top clinics no longer compete on price alone — they compete on artistry, and the gap between the best and the merely adequate is measured in millimetres of hairline design. MedArt Hair leads this ranking for combining doctor-led aesthetic planning and transparent long-term documentation with pricing that remains well below UK equivalents, while ASMED and HLC represent the boutique extreme for repair and ultra-refined cases. Whichever direction a patient leans, the process should begin the same way: a proper scalp assessment, a realistic graft estimate, twelve-month photographic evidence from comparable cases, and a written aftercare plan. Get those four things in hand, and a genuinely undetectable result stops being a matter of luck.

The 20,000 sq ft scheme from CJ Construction has been backed with finance from the Development Bank of Wales

Port Talbot-based CJ Construction (Wales) is set to deliver its first commercial property development marking a significant milestone in the company’s growth two years after a management buyout.

Located within the Port Talbot Waterfront Enterprise Zone, the development at Mardon Park will transform 1.37 acres of brownfield land into 20,000 sq ft of speculative industrial space that could be occupied by a single business or subdivided into smaller units.

The development is being backed with a £2.35m investment from the Development Bank of Wales. The funding package includes a £1.37 million grant and a loan of £980,000 from the Wales Commercial Property Fund.

Founded by Chris Jones in 1988, and incorporated in 2000, CJ Construction has grown from a family business into an established contractor employing 32 people and generating an annual turnover of almost £5m. The company has built a reputation delivering commercial and residential projects across South Wales, particularly for housing associations.

In July 2024, Chris’s son Russell Jones and fellow director Alex Holland self funded the MBO, with founder Chris remaining with the business in an advisory role.

The Baglan project represents the company’s first direct commercial development, building on more than two decades’ experience as principal contractor on residential and commercial schemes.

Alex Holland, commercial director at CJ Construction said:“Completing the management buy-out gave us the opportunity to shape the future of the business, and this development is a major step forward in that journey.

“We’ve spent many years delivering projects for clients across South Wales, so taking on our first development of our own feels like a natural progression. It’s something we’ve wanted to do for some time and the support from the Development Bank of Wales has given us the confidence to make that move.

“We’re proud to be investing in Port Talbot. Wherever possible we’ll continue working with local subcontractors and suppliers throughout the build, ensuring the investment benefits the wider local economy as well as creating high-quality commercial space for businesses looking to locate or expand here.”

Russell Jones, contracts director at CJ Construction, added:“We’ve built the business steadily over many years and have always taken a long-term approach. This development forms an important part of our future growth strategy and is something we’d like to build on in the years ahead.

“There is clear demand for flexible, modern commercial space in this part of South Wales. Our aim is to create units that are suitable for a range of businesses while contributing to the continued regeneration of the Port Talbot Waterfront Enterprise Zone.”

Since the start of the year the Development Bank of Wales has invested almost £8m in developments across Wales through the Wales Commercial Property Fund, supporting the delivery of nearly 143,000 sq ft of new industrial space.

Alwyn Thomas, senior property development executive at the Development Bank of Wales, said:“CJ Construction has established an excellent reputation as a contractor over the past 25 years, and this investment represents an exciting next step in the company’s development.

“Supporting experienced Welsh developers as they diversify and grow is exactly what the Wales Commercial Property Fund is designed to do. This project will bring forward high-quality speculative commercial space on a strategically important employment site while supporting regeneration, investment and future business growth in Port Talbot.”

The Wales Commercial Property Fund offers loans from £250,000 to £5 million for speculative and non-speculative office and industrial developments in Wales with terms of up to five years. Since 2017, the development bank has invested £34m in commercial property projects resulting in more than 411,000 sq. ft of space.

This article was written by

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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