“Malaysian £4 Billion Investment Fuels 30,000 New Job Opportunities in the UK!”

A £4 billion investment by YTL enterprises in the UK over the coming five years involves transforming the wider Bristol region and providing over 30,000 jobs across the UK.

This announcement arrives as Malaysian Prime Minister Dato’ Seri Anwar Ibrahim visits London today [Wednesday 15 January] to engage with Prime Minister Keir Starmer and formally initiate one of the most significant brownfield projects in the UK, alongside Investment Minister Poppy Gustafsson.

Business and Trade Secretary Jonathan Reynolds praised the investment as a significant demonstration of confidence in the UK that illustrates how the Government’s Plan for Change is driving economic growth and ‘the ability of investment to reshape our cities and provide working individuals the assurance they deserve’.

YTL, based in Malaysia, disclosed that approximately £2 billion of the total investment will be allocated to the Brabazon Bristol project, consisting of 6,500 homes, three new educational institutions, and a 19,500-capacity arena, along with conference and exhibition facilities. As per YTL, the project will create more than 30,000 positions, with the other £2 billion directed into YTL’s UK ventures over the subsequent five years.

Business and Trade Secretary Jonathan Reynolds stated:

“This investment is outstanding news for the UK and will facilitate a transformative change for North Bristol, establishing infrastructure, new schools, and generating thousands of new residences and jobs in the area.

By fostering the appropriate conditions and instilling confidence in investors to undertake substantial investments in Britain, our Plan for Change is fostering economic advancement and demonstrating the transformative power of investment in rejuvenating our cities and providing essential security to working individuals.”

The Chancellor of the Exchequer Rachel Reeves remarked:

This investment encapsulates what our Plan for Change aims to achieve. Investment that will enhance growth, produce quality jobs, and signifies that the UK is ready for business.

It builds upon the £600m investment I secured in China last week, and the triumph of last year’s record-breaking International Investment Summit, showcasing global trust in our economy.

We will continue to accelerate our efforts to stimulate growth, ensuring better conditions for all regions in the country.

Trade Minister Douglas Alexander is set to host his Malaysian counterpart Tengku Zafrul Aziz at the inaugural ministerial-led Joint Economic and Trade Committee (JETCO) on Thursday, aiming to examine avenues to enhance trade and investment collaboration in priority sectors like legal services, education, agriculture, and SMEs.

Trade between the UK and Malaysia reached nearly £6 billion in the year leading up to June 2024. This figure could further escalate now that the UK is a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), granting us our first formal free trade agreement with Malaysia.

Through the CPTPP, Malaysian investors benefit from enhanced certainty when investing in the UK, as the agreement assures that investors from both Malaysia and the UK enjoy fair and equal access to each other’s markets.

Background

• In 2016, YTL Power acquired the inactive Filton Airfield and the associated Brabazon Hangars located just north of Bristol. This 380-acre location is the largest brownfield development area in the South West and ranks among the most substantial in the UK. YTL is repurposing the site into a new town, named Brabazon, with the iconic hangars—previously home to the supersonic Concorde—set to be transformed into a state-of-the-art arena and entertainment complex.

• In November 2024, YTL secured planning consent to establish 6,500 residences, three educational institutions, three hotels, 2,000 student accommodations, a retirement community, a new railway station, and 60 acres allocated for commercial development focusing on high tech, aerospace, and university facilities. The entertainment complex will feature a carbon-neutral arena with a capacity of 19,500, along with conference and exhibition venues, and a futuristic family entertainment attraction.

• The Brabazon development is being constructed within the South Gloucestershire local authority area, just north of Bristol.