Investors backing Birmingham to enhance its global profile at MIPIM
Mar 5 2009 by Alun Thorne, Birmingham Post
Some of the city’s leading investors have gone on record to demonstrate their commitment to continue developing Birmingham.
Private sector sponsors such as Argent, Birmingham Development Company, Keepmoat, Targetfollow, St Modwen, Beorma, Amey, Hammerson and Rider Levett Bucknall, have backed the Birmingham stand at MIPIM 2009, the world’s premier real estate summit, in Cannes next week with hard cash in the teeth of the recession.
And Birmingham City Council leader Coun Mike Whitby has praised their continuing support for the city.
“These firms are feeling the effects of the recession just like everyone else,” he said. “To put hard cash now into our bid to bring future investment into the city shows a commitment and loyalty that is both notable and yet typical of how Birmingham pulls together as a business community.”
Gary Taylor, joint managing director of Argent (UK Developments) Ltd, said: “This year it’s more important than ever to get behind Birmingham and show global property investors that the city is well and truly open for business. Innovation and creativity are the buzzwords for this year’s event and, with many iconic projects coming on line and in the pipeline this year, the city has a lot to offer.
“Many of the globe’s large cities are now looking to revamp their cityscapes, and with a focus on New Street Station, the new city Library and further development and refurbishment of prime office stock, Birmingham is well placed to set out its stall and compete for future investment.”
His comments were echoed by the man behind the The Cube development under construction next to The Mailbox.
Alan Chatham, director of Birmingham Development Company, said: “There is no doubt that due to the downturn the economy is facing uncertain times. It is, however, important to keep a mid to long term view and continue to look ahead and recognise the value of Birmingham’s presence at MIPIM 2009.
“This year’s MIPIM will of course be very different, but I believe a much needed focus on the importance of marketing our cities will return. The continued sponsorship support will see the city’s property community committed to working together, and communicating to the international investment marketplace that a raft of robust investment opportunities are on offer here in Birmingham.”
And new investors in the city – the Kuwaiti funders backing the Beorma Quarter “city within a city” planned for the Digbeth area – are equally upbeat.
Keith Williams, representative of Salhia Investments, said: “Beorma Quarter represents the first investment in Birmingham by a Kuwaiti company. With the Big City Plan taking shape, there has never been a more exciting time to invest in Birmingham.
“Our proposed £200 million scheme sits adjacent to Bullring and responds to the objectives of the visionary master planning study. With the Beorma Quarter scheme currently being considered for planning approval, we anticipate being able to commence construction work before the end of this year.”
The developers who have brought the historic Baskerville House back to life believe it is equally important to support regeneration as well as flagship new build projects.
Julian Wells, development director at Targetfollow, said: “In the current economic climate, we believe that MIPIM continues to provide an important international meeting place for property investors, developers and other members of the city’s property community to initiate new contacts and business opportunities. MIPIM provides the ideal forum to fully showcase the strengths and potential offered by Birmingham on a truly global stage.”
