Malaysian-owned YTL has announced a £4bn investment in the UK over the next five years, focusing on transforming the greater Bristol area and delivering over 30,000 jobs nationwide.
The announcement coincided with Malaysian prime minister Dato’ Seri Anwar Ibrahim’s visit to London on Wednesday, where he met with prime minister Keir Starmer and officially launched one of the largest brownfield developments in the UK alongside investment minister Poppy Gustafsson.
business and trade secretary Jonathan Reynolds said: “This investment is incredible news for the UK 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.”
Approximately £2bn of the investment will fund the Brabazon Bristol development, which includes 6,500 homes, three schools, and a 19,500-capacity arena, conferencing and exhibition space. YTL confirmed the remaining £2bn would be invested across its UK businesses over the next five years.
chancellor of the exchequer Rachel Reeves said: “This investment is what our Plan for Change is all about. Investment that will boost growth, create good jobs and shows that the UK is open for business. It builds on the £600m of investment I secured in China last week, and the success of last year’s record-breaking International Investment Summit, demonstrating global confidence in our economy. We will continue to go further and faster to kick start growth to make all parts of the country better off.”
The Brabazon development is being constructed on the disused Filton Airfield and associated Brabazon Hangars, just north of Bristol. In November 2024, YTL secured planning approval to deliver the mixed-use development, which will include homes, three hotels, a retirement village, a new railway station and a 19,500-capacity carbon-neutral arena.
Reynolds added: “This is another huge vote of confidence in the UK and shows how the Government’s Plan for Change is delivering economic growth and creating opportunities for working people.”
UK-Malaysia trade, valued at £6bn in the year to June 2024, is expected to grow further following the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). trade minister Douglas Alexander is set to meet his Malaysian counterpart Tengku Zafrul Aziz at the Joint Economic and Trade Committee on Thursday to explore further opportunities in areas such as legal services, education, agriculture and SMEs.