A venture agreement was recently sealed between Manchester Airports Group and Beijing Construction Engineering Group Co. Aside from the two major partners, other entities, such as Carrillion Plc and the Greater Manchester Pension Fund also included themselves in the agreement to construct an international business district in the second largest city in the United Kingdom.

The buildings would be constructed on the 150 acre north of England site and is estimated to cost nearly GBP800 million or USD1.3 billion upon completion and leased out, according to a statement released by the partnership. The project is to be known as 'Airport City'  and would create as much as 16,000 jobs. The development would be under the management of Argent LLP, according to the statement.

In a statement released by Argent (Property Development) Services LLP Managing Partner David Partridge, "Our aspiration as part of this international joint venture is to create a world-class business destination that will open up new connections on a global level."

As for the builders, a statement was also released by Beijing Construction Engineering Managing Director Xing Yan, "We see our involvement in Airport City as an extension of the memorandum of understanding between China and the UK, where we have been looking to further explore joint infrastructure opportunities for some time."