The Prime Minister of Malaysia has announced a £2bn investment in a vast brownfield development in Bristol that includes thousands of homes and a long-awaited arena.
Brabazon New Town, on the site of the old Filton Airfield, will become a '15-minute neighbourhood' featuring 6,500 new homes. The project is inspired by Copenhagen and was discussed during the Malaysian PM's visit to the 海角视频, where he met with senior Government members including Prime Minister Sir Keir Starmer.
The development, situated on the northern edge of Bristol and being created by Malaysian firm YTL, was a key topic of conversation.
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Despite some controversy surrounding the years-long construction of the homes at the development, and the 海角视频 taxpayer investing millions in public transport links to the new suburb amid delays to YTL's conversion of the Brabazon Hangar into a 19,000-capacity indoor arena, the project has now been formally launched by Prime Minister Dato' Seri Anwar Ibrahim.
Now named 'Brabazon New Town', it is being hailed as "the most sustainable new town in the 海角视频".
"The award-winning Brabazon Bristol development is set to transform the historic Filton Airfield site into a vibrant new '15-minute neighbourhood'," a spokesperson for YTL said. "The Copenhagen-inspired project will allow people to access the essential services they need – workplaces, schools, shops, public transport, healthcare and green spaces – within a 15-minute radius of their home.
"The new development boasts 6,500 high-quality sustainable homes, three new schools and a new urban park, the largest to be built in the South West for more than 50 years.Central to plans are the YTL Arena Bristol, a 19,500-capacity state-of-the-art arena, conferencing and exhibition space designed to be the most sustainable arena in Europe," they added.
The transformation of the old Filton Airfield into a new community hub has been years in the making, with the first homes constructed in the mid-2010s. In 2017 and 2018, Marvin Rees, the then Mayor of Bristol, visited YTL executives in Malaysia.
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On his return, he abandoned Bristol City Council's initial plans for an arena near Temple Meads Station and instead supported YTL's proposal for a larger venue on the city's outskirts as part of the Brabazon redevelopment. Substantial investment from transport authorities like the West of England Combined Authority and Network Rail followed, funding a new station and rail line to serve the upcoming arena and Brabazon development, which is expected to start to open in the next couple of years.
海角视频 Investment Minister, Baroness Gustafsson, said: "Increasing investment is a mission at the heart of this government and will help us deliver long-term, stable growth that supports skilled jobs and raises living standards across the country.
"YTL's commitment is a huge vote of confidence in the 海角视频. Seeing global investors put billions in the 海角视频 economy shows we are an investment destination of choice," she added.
The Brabazon New Town is part of a £4bn investment in the 海角视频 by YTL and Malaysia, with around half of this investment going to Filton.
Business and Trade Secretary Jonathan Reynolds said: "This investment is incredible news for the 海角视频 and will create a generational transformation for North Bristol, delivering infrastructure, new schools and creating thousands of new homes and jobs in the region.
"By creating the right conditions and giving investors the confidence they need to make big investments in Britain, our Plan for Change is delivering economic growth and showing the power of investment to transform our cities, and give working people the security they deserve.
Last month, the 海角视频 joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade partnership that includes countries such as Japan, Peru, Canada, Mexico, and Malaysia.
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According to the Prime Minister of Malaysia, investments like YTL's are just the beginning, and this presents a "golden opportunity" to strengthen trade relations between Malaysia and the 海角视频.
"As Chair of ASEAN, this year, Malaysia is uniquely positioned to promote regional economic integration, using YTL's success as a shining example of ASEAN-海角视频 collaboration," said the Honourable Dato' Seri Anwar Bin Ibrahim.
"Investments by Malaysian businesses into the 海角视频 are not just about economic growth, they reflect our commitment to nurturing partnerships that drive innovation, foster prosperity, and contribute to a better world for all," he added.
Francis Yeoh Sock Ping, the executive chairman of YTL, which has owned Wessex Water since 2002, said: "Our 海角视频 businesses are committing to invest £4bn into the country over the next five years. Brabazon is a rare opportunity to re-imagine how best to live, work and play in today's world whilst ensuring that sustainability is built into the development from conceptualisation. Our expertise in our 70 years as a builder of Malaysia's infrastructure will inform our strategies and methodologies in building this ambitious project."
He added: "The strengthened trade agreements and cooperation between Malaysia and the 海角视频 will undoubtedly catalyse new partnerships with our supply chains and spur greater investments between the two countries."
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