A North East real estate advisory firm has unveiled the next phase of growth plans, opening up access to billions of pounds of UK and foreign investment funds provided by national and international institutional investors, sovereign wealth and private equity.
The move comes as Middlesbrough-based United Kingdom Development Corporation (UKDC) gears up to meet strong demand for its services from the modular housing sector.
The firm, which is advising clients on the development of new homes manufactured offsite to meet the rising demand for affordable housing, is set to provide advice and funding, working with land owners and developers who have secured planning permission for sites.
With more than 300,000 new homes required annually over the next decade to meet current housing demand, offsite modular construction cuts the time taken to deliver residential properties by up to 65%. It also reduces carbon emissions as the government encourages more effective ways to tackle the climate emergency.
The delivery of carbon neutral affordable housing is a priority, according to UKDC, which continues to work with investors keen to support quality, carbon neutral housing developments.
Ummar Hanif, managing director of UKDC, said they look to expand operations, and added: “We are seeing major technical developments in the quality, scope and scale of UK modular housing coupled with strong demand for new homes. We are delighted to be working closely with Ecotek Homes in a move that will accelerate the delivery of new sustainable and affordable housing projects, both in the North of England and across the wider UK.
“This will create hundreds of jobs as developments come on stream and economic prosperity as investment in property pays dividends for local people, communities and supporting services.”
The initiative follows UKDC’s link up with developer Ecotek Homes, which is adopting smart technology to construct homes that consume 50% less energy – helping to tackle climate challenges in the process.
Stephen Haigh, founder and chief executive at Ecotek Homes, said: “Our relationship with UKDC will support the delivery of new, greener homes each year, providing a welcome boom as we look to tackle the housing shortfall over the next few years.
“Off-site manufactured housing is changing the face of construction and creating superb homes that are not only sustainable but affordable, contributing significantly to transforming the way we build houses in this country.”
UKDC has already attracted interest from investors following its launch this year and is keen to be involved in projects aimed at levelling up the economy and tackling the climate emergency. This includes instructions to advise and work with local authorities and developers throughout the UK and is keen to continue to grow.