Beijing Construction Engineering Group International (BCEGI) has collaborated with real estate investment and development specialist Midia and Bolton Regeneration Limited (BRL) for the redevelopment of Crompton Place shopping centre in the UK.
BRL will take the support of Bolton Council to carry out a £250m redevelopment programme, including new proposals for Crompton Place shopping centre.
The partnership is planning to convert the shopping centre and surrounding area into a new retail, leisure, office and residential destination.
The development also includes the opening of streetscape to provide pedestrian links to Bradshawgate.
BCEGI is an equity and construction partner on the £1bn Airport City project in Manchester, as well as the preferred contractor for the new £1bn Middlewood Locks mixed use neighbourhood project in Salford.
The company is also a main contractor for the The Lexington, which is a £90m, 35-storey housing project in Liverpool.
BCEGI lead director Yu Dongwen said: “BCEGI is very pleased to be starting this exciting journey with our new partners at Bolton.
“BCEGI is committed to the UK, particularly the Northern Powerhouse region and we look forward to working with Midia to bring forward the redevelopment plans for Bolton town center.”
Crompton Place is said to be identified as one of five major intervention areas in the £1.2bn Bolton Town Centre Strategy and Regeneration Masterplan.
Bolton Council has provided a £100m investment fund to better implement the strategy.
Midia spokesperson said: “This is a significant milestone for the future of Bolton town centre, and we are delighted to be playing such an integral delivery role in redeveloping Crompton Place.
“The partnership means that we can now move forward with our regeneration plans, whilst also creating new jobs throughout the life cycle of the build program.”
Chinese state-owned Beijing Construction Engineering Group (BCEG) was established in 1953 and started to expand its operations across the globe with the creation of BCEGI.
BCEGI is specialised in the development of projects through strategic partnerships and investment relationships. At present, BCEGI is carrying out its operations in countries such as the US, Canada, as well as in the UK.
