Salford-based contractor Manchester & Cheshire Construction has formed an alliance with a Chinese developer to bid for Greater Manchester residential development sites.
Manchester & Cheshire Construction and the Chongqing Jinstar Real Estate Development Company will bid for residential development sites under a new joint venture.
Manchester Place, the partnership between Manchester City Council and the Homes and Communities Agency, has a target of building 55,000 homes by 2027.
The new JV will target sites to help meet that goal.
Manchester & Cheshire Construction and Jinstar were introduced by Gibbs Investment, the Chinese company’s retained professional adviser in the UK.
Jinstar also met with Manchester Place chief executive Deborah McLaughlin on a recent trade mission to China.
Manchester & Cheshire Construction development director Michael Purcell said: “We are delighted to enter into this strategic partnership with Jinstar, whose financial backing, major project experience and UK ambitions are an ideal match for us.
“There is a true synergy between the two family firms which will be of great benefit to the region.”
Jinstar was founded 18 years ago and this is its first venture in the UK.
Jinstar director of international co-operation Steve Yang said: “It is a golden time for China-UK relations and we are keen to grasp this precious opportunity to enter the UK market, especially since both prime minister David Cameron and chancellor George Osborne promoted the ‘Northern powerhouse’ to us.
“We believe that by combining the strengths of Jinstar and Manchester & Cheshire Construction we can contribute to the masterplan for the future prosperity of Manchester.”
The companies have formed The Anglo-Chinese Alliance to bid for sites.
Other professionals appointed to work with the ACA include architects the Oval Partnership, engineering consultancy Clancy Consulting, and Simon Fenton Partnership – a Manchester firm of quantity surveyors and project managers.