‘That’s the way the city works’: how the UAE changed the face of Andy Burnham’s Manchester
Summary
A Guardian analysis says UAE government entities and Emirati developers have greatly expanded their property and business interests in Manchester over the past decade. It traces part of that growth to a 2013 UK government effort to secure UAE investment, including a £1bn housing scheme with Abu Dhabi.Key Facts
- UAE government and Emirati developer property holdings in Manchester reached an area equal to about 260 football pitches at their peak in 2023, according to the analysis.
- In 2013, the UK government asked Manchester city council to prepare three investment proposals for the UAE amid tensions over Britain’s approach to the Muslim Brotherhood.
- One proposal became Manchester Life, a planned £1bn development involving 6,000 homes.
- Under the deal, the council sold Abu Dhabi a prime piece of city-centre land for £5m and granted it a right of first refusal on other projects.
- Former council leader Richard Leese said housing development in and around the city centre had stalled for several years and other developers were unwilling or unable to proceed.
- Sheikh Mansour, owner of Manchester City, has built a wider portfolio in the city that includes an indoor arena, a hotel, apartment blocks and investment in university research.
- The article says scrutiny of Manchester City’s cheating scandal has drawn attention to Abu Dhabi’s broader influence in Manchester.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.