Airport City tour to target Chinese investors
MANCHESTER Airports Group (MAG) is taking its £800m Airport City concept on a roadshow to China in search of tenants and investors.
In October MAG struck a joint venture deal with the Beijing Construction Engineering Group (BCEG), which is backed by a Chinese state bank, to bring forward the mixed-use scheme.
It will consist of two sections – a world logistics hub to the south of the airport and a business district to the north that will have 1.2 million sq ft of offices, 530,000 sq ft of manufacturing space and 1,300 hotel beds on a 65-acre site. The 15-year project is expected to create 16,000 jobs.
MAG and BCEG signed the joint venture last week and announced a June tour of Beijing, Shanghai and Shenzhen to promote the development.
Managing director of BCEG International Co, Mr Xing Yan, told TheBusinessDesk.com: “There are a lot of potential investors who are interested in doing business or investing in the UK and we’re going to use this opportunity to explain to them how business is done. We can use ourselves as an example because we’ve had a very postive experience.
He added: “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.”
BCEG has 20% of the venture along with construction group Carillion. The Greater Manchester Pension Fund (GMPF) has 10% and MAG holds 50%. Argent has been appointed as the development manager.
