Kuwait’s Salhia real estate company has said it has signed a contract with a value of around 122.6 million GBP ($155 million) to build an office and residential tower in Birmingham, the UK’s second largest city.

In a disclosure statement on Kuwait’s bourse on Sunday, where it is listed, the Company said its subsidiary in the UK – Salhia Investment Birmingham -- signed the deal with a UK-based contractor.

It did not identify the contractor but said phase 2 of its project in Birmingham comprises a 28-level tower, one of the highest buildings in the Central English city.

The ground level will be confined to retail shops while the first 11 levels will be allotted for offices and the rest for residential purposes, the Company said.

According to the statement, Salhia’s project in Birmingham consists of two phases, the first of which was completed a few years ago.

It said phase 1 comprised hotel apartments, shops, offices and the main offices of King Charles Charity organisation, adding that all shops and offices have been leased.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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