Saudi Arabian public and private equity investor AIMS Investments has taken a majority stake in Manchester residential developer Beech Holdings.
The partnership with the investment giant, one of the largest in Saudi Arabia, will see Beech Holdings bring forward more than 1,000 apartments with a gross development value of around £250m.
Beech Holdings, which is currently developing the 155-apartment Ancoats Gardens scheme, will now look to enter into different regions across the UK.
The deal will also enable AIMS Investments to “invest significantly” into the UK property market.
Abdulaziz Albassam, chief executive of AIMS Investments, said: “This investment will enable us to accelerate our strategy in expanding our footprint to other regional cities in the UK and simultaneously growing our residential portfolio.
Our investment is a sign of our long-term commitment to the UK real estate market, as well as our confidence in the ability of Beech Holdings to grow to become a major UK residential developer that delivers high quality products to its customers.”
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