CHINESE-owned global information and communications technology giant Huawei has agreed a deal to move its UK headquarters to Reading's showpiece Green Park with the creation of 450 jobs.

Huawei has reached agreement with owners Oxford Properties to take over a 140,000 sq ft building at 300 South Oak Way,Green Park, from next April.

The company, which is understood to be working with BT on major broadband developments, says it is the first stage of a planned �1.3billion investment and procurement programme in Britain. Ren Zhengfei, founder and chief executive of the privately owned company, is also promising that the company's British workforce will eventually increase from the 800 it currently employs, to 1,500 over the next five years.

The Huawei move is the biggest deal done by Oxford Properties, which is owned by one of Canada's biggest pension funds, since it bought Green Park last November.