UK’s creative industry to get a £15m boost

Kasmira Jefford
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THE GOVERNMENT will today announce some £15m of investment into the UK’s creative industries as part of a series of summits taking place during the Olympics aimed at bringing investment to British shores.

On the third day of an investment conference intended to show off British media, arts and design, UK Trade & Investment (UKTI) has lined up trio of deals to unveil, including the £12m redevelopment of a Victorian building in Islington into an arts, music and shopping centre, creating up to 80 jobs.

The project, by Hong Kong firm Aquarius Investments, comes alongside the news that SRI Group, a business consultancy and social responsibility investment firm, is to move its headquarters from Italy to the capital.

Up to 20 London-based jobs will be established within the first year and its capital investment of approximately £3m is expected to more than double in two years, the firm said.

Meanwhile UK architectural firm Benoy announced it had won two contracts in Malaysia to design retail projects with a construction value of more than £300m.