May 23, 2018

London’s third financial district to be developed by Chinese firm

An area of East London is set to become the location for London’s third financial district, a development which is expected to generate more than 20,000 jobs in the process.

It comes after the Chinese firm, Advanced Business Park (ABP) signed a £1 billion deal with London Mayor Boris Johnson to develop a 14 hectare complex of offices and shops at the Royal Albert Dock – a 130-year-old site near London City Airport. A proposal which is sure to interest those working in business management, it will be the largest commercial real estate project that Chinese companies have invested in, with offices and shops among the plans.

Xu Weiping, the chairman of ABP, has stated that the work is designed to be carried out in three or five phases and full completion will take between 8 & 10 years – although the first tenants are hoped to active in the facility as early as 2017.

Image Credit: queueofpixels (Flickr.com)