Manchester City bosses to invest £175 million into Fallowfield
The Abu Dhabi-based investment and development company, Mubadala Development Company, run by Manchester City chairman Khaldoon Al Mubarak, announced an investment of £175 million to develop the Owens Park site on the University of Manchester’s Fallowfield Campus.
The opportunity for Mubadala to invest in the Fallowfield project builds on the relationship established with Masdar, the Abu Dhabi-based clean technology and renewable energy company wholly owned by Mubadala.
Masdar is partially funding the development of the Manchester Graphene Engineering & Innovation Centre, and is establishing joint graphene application research and fellowship programmes with the University.
President and Vice-Chancellor of The University of Manchester, Professor Dame Nancy Rothwell, said: “This represents an outstanding opportunity for The University of Manchester.
“This significant investment by Mubadala will allow our students to enjoy some of the best living and learning facilities in the country, and forms part of our ten-year capital expenditure programme to improve and evolve facilities at the University.”
Executive Director of Mubadala’s real estate and infrastructure unit, Ali Eid AlMheiri, said: “I am delighted that we are able to invest in this project, which will improve infrastructure and facilities on the Fallowfield campus.
“It also allows Mubadala to further build on our existing portfolio of education projects including UAE University, Paris Sorbonne University and Zayed University in Abu Dhabi.
“We are confident that, in partnership with The University of Manchester, our investment will provide the next generation of accommodation and facilities.”
This was posted in Bdaily's Members' News section by Sophia Taha .