The China National Building Material Company has inked a £2.5 billion deal to build 25,000 modular homes for the UK.
The partnership with housing association Your Housing Group and WElink will create 25,000 low-carbon homes per year by 2022.
The word “flatpack” may spring to mind, but this landmark investment will involve next generation construction technology from Barcelona Housing Systems, a sign that the UK Government is actively encouraging innovative solutions to help deliver its target of 1 million new homes by 2020.
This system of construction differs from other modular housing already in the sector as it will combine British precision produced steel frames and modern composite materials that means the developments are both low carbon and energy efficient in their construction and in their operation.
The joint venture will create localised, dynamic supply chains and new employment opportunities.
Ajmal Rahman, Chairman of WElink Group, says: “Our partnership comes at a time when the UK’s housing shortfall is only going to be addressed by radical innovation in building practices which opens the way for modular housing.”
Housing Minister Gavin Barwell adds: “This joint venture shows the potential modular construction has to meet the UK’s housing needs and help build a country that works for everyone. This Government is committed to delivering a more diverse and innovative housebuilding sector and our £3 billion Home Building Fund will encourage more pioneering housebuilding projects and partnerships like this one.”
International Trade Minister, Greg Hands MP, says that the deal is a “clear endorsement of the UK’s attractiveness as a place for inward investment”.Google+