Listerhills partnership could be blueprint for future ventures

Mohammed Ishtiaq, managing director of Mi7 Developments, said the Hayaat Group, which is developing Bradford University's Listerhills

accommodation scheme in a joint venture with Welbeck Land, would consider a similar partnership for future projects.

The Hayaat Group, which is led by Mohammed Ikhlaq, the chief executive of Projenco Al Khaleej based in Abu Dhabi, joined forces with Welbeck Land last year to bring the scheme to fruition after bank funding fell away during the economic downturn.

Mr Ishtiaq said: "We began to acquire and prepare development plans for this site at the university about six years ago. In January 2009, we got to the stage where we had to decide whether to slow everything down, mothball the scheme and bring it back at a slower pace or carry on and bring in other partners.

"We wanted to keep the pressure on the accelerator so we looked for a joint venture partner."

He added: "It would be fair to say for both parties – Hayaat Group and Welbeck Land – that we have worked very well and if there were any future opportunities I can't see any reason why they wouldn't look at other projects together in the Yorkshire region and elsewhere."

The accommodation, known as The Green, is halfway through the first phase of construction and will open in September 2011 for more than 1,000 students.

Technology-driven features will encourage students to be aware of energy consumption while design ideas, including central meet and eat areas, aim to nurture a more towards cohesive community living.

The Green sits within the wider 150m Listerhills development and marks the beginning of a wider masterplan which includes academic, retail and healthcare facilities.

Martyn Bowes, finance director of Welbeck Land, said: "As a London-based developer with interests across the UK, we continue to seek positive investment opportunities that support future economic growth,

sustainability and regeneration, particularly in the health and education sectors."