Birmingham City Council have signed an agreement with Chinese housing developer Country Garden to invest and build new homes within the Birmingham area.
Country Garden will look to explore investment and housing opportunities within Birmingham, particularly focussing on the development around the High Speed railway scheme.
Other sites being considered for development are:
This deal has been made in light of the current housing shortage in and around the city, with the council pledging to build 80,000 homes over the next 15 years.
Country Garden is Chinas fifth largest property developer, with over 300 high-end township developments, 54 hotels, and more than 2.5 million properties under its belt.
Commenting on the deal, Country Garden founder and chairman Yan Guogiang said: "I have been impressed with Birmingham's ambition and huge potential and I am delighted to announce this investment commitment to support significant housing and infrastructure development in the city.
"We have a proven track record in delivering quality housing at a scale to match Birmingham's ambitions and with major projects coming to the city, including the forthcoming High Speed Two project, these are exciting times for Country Garden and Birmingham."
Delighted by the recent agreement is Paul Faulkner, chief executive of the Greater Birmingham Chamber of Commerce who says: "Post-Brexit, it's more important than ever that our city works with global capital markets to bring in new money from large institutional investors.
"Bringing in £2 billion for housing and other projects will have a much larger economic impact across the region for Birmingham companies and construction supply chain.
"Importantly, it cements a relationship with the all-important China market."
This deal is great news for the city of Birmingham and is set to boost its business sector and skills base as well as bring thousands of jobs and quality homes to the city.