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HK developer chosen to spearhead housing regeneration scheme in England

Xinhua, April 27, 2017 Adjust font size:

Manchester City council in northern England said Thursday that a Hong Kong-based investor has been chosen to help deliver the city's most ambitious housing-led regeneration project.

Far East Consortium International (FEC) has been selected to work with the council on its flagship Northern Gateway scheme.

Authorities say the selection of FEC could generate more than 1.3 billion U.S. dollars of investment over the next 10 years.

A joint statement from the council said the vision is to create a series of distinct yet clearly connected communities making the most of the area's natural resources including the River Irk and its location close to the city center.

"The partnership will deliver up to 10,000 new homes over the next decade with an emphasis on design quality and sustainability, open space, and green walking and cycling routes," said the statement.

Manchester City council leader Sir Richard Leese said: "This investment partnership will allow the city core to expand and provide the right mix of high-quality housing in well planned new areas to support our continued strong economic growth."

David Chiu, chairman of FEC, said: "Manchester is a place where people from all walks of life want to stay and where families thrive. We at FEC believe we have all the right credentials to successfully deliver this prominent development."

Manchester Place is a partnership between the city council and the government's Homes and Communities Agency.

Manchester Place CEO Paul Beardmore said: "The announcement is a landmark and cements the city's success in attracting international investment at scale and again shows how our unique partnership approach is delivering real results and providing the new housing we need."

FEC is also expected soon to submit plans a major scheme for more than 750 homes in another area of the city. The firm is to build four blocks rising from nine floors to one with 41 floors in an area close to Manchester's Angel Meadow Park. Endit