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Manchester’s Airport City to look for Beijing backing

Manchester’s Airport City to look for Beijing backing

Delegates from the airport development will visit Beijing, Shanghai and Shenzhen in June

» Airports - UK | Tuesday, March 11, 2014 • Telegraph
Manchester’s £800m Airport City development has announced plans to go on the road in mainland China in a bid to attract further backing from the country, having already struck an investment deal with Beijing Construction Engineering Group (BCEG).
 
Delegates from the airport development will visit Beijing, Shanghai and Shenzhen in June to try to drum up interest among potential occupiers of the site, as well as meeting property agents.
 
BCEG, which holds a 20pc stake in the venture, will also participate in the roadshow to act as a “positive example” to Chinese businesses interested in taking part in the venture.
 
The regeneration project will be Britain’s Airport City and will house offices, shops, parkland, warehouses and manufacturing sites.
 
The 5m sq ft development is expected to take around 15 years to complete and will create about 16,000 new jobs.
 
It is hoped the regeneration project will burnish Manchester’s credentials as a hub for business travel and rival other Airport Cities in Europe such as Amsterdam, Frankfurt and Barcelona.
 
Chancellor George Osborne revealed last October that BCEG was investing in the venture.
 
The Airport City also counts Greater Manchester Pension Fund and construction group Carillion as investors. Manchester Airports Group holds a 50pc stake.
 
Xing Yan, managing director of BCEG International, said: “We are looking forward to seeing it come over to home soil, where it will demonstrate all of the benefits of investing in the UK.
 
“BCEG will participate in each roadshow as a positive example of how investing in Airport City Manchester works and is deliverable.
 
“As well as showcasing the business benefits, we’ll also be able to give first hand advice and support on integrating into British life, the education system and the immigration and visa system.”

Telegraph
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