Burnham hails GBP1 billion German investment in UK affordable homes
UK Prime Minister Andy Burnham has hailed a £1 billion German investment to deliver 4,000 affordable homes across the UK.
Patrizia committed to the funding boost following the first UK-Germany regional growth forum in Berlin on Thursday, where Burnham and German Chancellor Friedrich Merz met with business leaders.
Burnham said: "Growth has to reach every part of the country, not just a few places.
"Germany has shown what strong regions and local leadership can achieve, and we want to learn from that and share our own experience.
"Today is the start of a new partnership between our businesses, regions and our cities, one that will create good jobs and opportunity for people in both countries."
Patrizia has previously invested around £4 billion in the UK, Downing Street said.
Chief Executive Asoka Wohrmann said: "Our meeting with the prime minister reinforced a clear reality: the UK's demand for affordable housing is also a significant investment opportunity.
"Patrizia is already investing in homes across the country and we see considerable potential to do more.
"By working with metro mayors and local partners, we can help channel long-term institutional capital into the places where housing is needed most.
"Neither public nor private capital can solve this challenge alone, but together we can accelerate delivery and create lasting value for communities across the UK."
By Rhiannon James, Press Association Parliamentary Editor
source: PA
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