A joint venture with a Beijing company will result in a great boost to Manchester Airport of £800 million, resulting to creation of 1600 jobs. The Beijing construction Group Company will work with the Manchester Pension Fund and Carillion PLC to ensure the Airport city project is successful.
Considering that Manchester has the third busiest airport in UK, development of the Airport City will attract international businesses to the airport and this will lead to creation of jobs.
The project received the go ahead this year and it will offer offices, hotels, warehousing, manufacturing and logistics facilities that will occupy five million square feet. This Beijing Company has been successful in completing other projects like the Piccadilly Place, Piccadilly gardens, and the St. Peter’s Square and is active in the global markets especially in the United States.
In the year, 2012 China and UK determined that the target trade between the two countries by 2015 should be $100bn when at that time China investment in UK was $8bn. The Airport city deal will be one of the biggest joint ventures in UK and is likely to be the largest project to be carried out since redevelopment of London during the Olympics.