CITIC breaks ground on £1.7bn development in London
July 02, 2017 – Chinese contractor CITIC has started construction on a £1.7bn development at Royal Albert Dock in East London.
The project, led by Chinese developer ABP, will develop 14 hectares near London City Airport into office and retail complex.
The project is anticipated to result in the creation of 30,000 jobs.
ABP chairman and president Xu Weiping said: “Today marks an important milestone in establishing London’s next business district at Royal Albert Dock and promoting trade between London and China in post-Brexit referendum uncertainty.”
Newham mayor Robin Wales said: “It is great that we can be certain of ABP’s commitment to this development which will provide a vital boost to both Newham and the UK’s economy.
“Within just a few years we will all be reaping the benefits of this new business district which will bring life and energy back to the historic Royal Docks, and put them at the heart of the country’s economy once again.”