PGC Capital sees the UK as a safe haven for its cash
Shanghai-based investment bank PGC Capital has applied for planning permission to replace a former car dealership in Birmingham鈥檚 city centre with a new residential scheme.
Designed by Corstorphine + Wright, the plans include a 25-storey tower and a pair of 10-storey blocks housing 517 flats as well as ground floor commercial space.
Located close to Hammerson鈥檚 Bullring shopping centre, work on the scheme called Lunar Rise is to start on site early next year, subject to planning approval.
It will be PGC鈥檚 second development in the city having already built an apartments scheme called Jewel Court.
Denise Li, chief executive of PGC Capital said: 鈥淲here there鈥檚 a need, there鈥檚 an investment opportunity. We are bringing money and commitment to help alleviate the acute housing shortage in Birmingham.
鈥淭he UK is a safe haven for investors because it is a well-established market with a mature legal system.鈥�
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