Salhia Investments to complete Boerma Quarter project in 2016
Kuwait-based Salhia Investments is taking on the final phase of the £200 million Beorma Quarter project to build a 30-storey tower in Digbeth, a region of Birmingham, UK, creating the tallest office building in the city. The tower itself will equate to 150,000 square feet of office space and 125 apartments, alongside a 13-storey 69-flat residential building and a seven-storey office block.
HSBC bank provided over £10 million for the first leg of the project, completed by BAM Construction earlier this year, and the final stages will be funded by pre-lets. The development will be faced in sandstone, in an attempt to fit the buildings in with the local aesthetic, and as a nod to the city’s geology. This is Salhia’s first solo project in the UK; however, it has been investing there since 1997 through a joint venture with St Modwen.
Aziz AlNafisi, Investment Group Head at Salhia, has told Business Birmingham: “The Beorma Quarter is at the forefront of Digbeth’s renaissance and will pave the way for further development in the area. Its location close to the city centre will provide a natural link between the traditional city core and create a gateway to the Digbeth Quarter.”