British Land projects will generate £1.2 billion by 2015 | 19 September 2012
British Land construction projects will generate an estimated £1.2 billion towards the UK economy over four years, according to a company statement.
The statement, based on projects from the period between 2011 and 2015, claims that the company has helped to create 32,300 jobs as well.
Projects such as the Leadenhall building in London and Whiteley Shopping Centre in Hampshire are some of the developments that have provided the biggest boosts to the economy.
Responding to the figures, British Land chief executive Chris Grigg urged the government to place more emphasis in encouraging commercial property investment.
He told telegraph.co.uk: “A renewed focus on encouraging investment in buildings and infrastructure, which offers the potential of a very good return in terms of jobs and economic growth, is welcome.
“But the emphasis so far has been largely on housing and the importance to our economy of investment in new offices and retail outlets is not always understood.”
Most British Land construction projects are based in London. However, Grigg was keen to point out that many still benefit other local economies. For example, a number of projects include the use of steel and concrete from the North West during construction projects.
What’s more, bdaily.co.uk reports that British Land’s expenditure on steelwork is expected to have created 1,490jobs across Northern England and Northern Ireland.
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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