- TP Editorial Team
Birmingham Council and Chinese Developer Sign £2bn Investment Agreement
Birmingham City Council and Chinese developer Country Garden have signed a £2 billion agreement to invest and build in Birmingham. The deal was signed by John Clancy, leader of Birmingham City Council, during his trade mission to China.
The deal will see the developer explore large-scale investment opportunities within the Greater Birmingham area, in particular focussing on development surrounding HS2. In addition, it was agreed that the company will also look into new housing development in the city.
Particular sites that are currently considered include the Curzon Street Eastside area, the Smithfield development area on the site of the old Wholesale Market and Icknield Port Loop in Ladywood.
Councillor John Clancy considered that the deal would help bringing jobs and quality homes to the City and that ‘Country Garden has a proven track record of building homes at pace and scale’.
‘Bringing this level of investment and experience to Birmingham would be a massive economic boost to the region’s businesses, skills base and families.’
Country Garden was founded in 1992 and is China’s fifth largest property developer. Chairman and Founder Yang Guoqiang confirmed that he was impressed with Birmingham’s ambition and huge potential and that he is delighted to announce this investment commitment to support significant housing and infrastructure development in Birmingham.