Chinese developer signs £1bn deal for east London business park

A multi-billion pound business park aimed at Asian companies is to be built on a historic dockyard in east London.

Advanced Business Park (ABP), a Chinese developer, signed a £1bn deal with Boris Johnson, London’s mayor, to develop a 14 hectare (35 acre) complex of offices and shops at the Royal Albert Dock, near London City airport.

Johnson said the park would become “London’s third great business area” after the City of London and Canary Wharf, and would generate 20,000 jobs.

It is the largest investment by a Chinese company in the UK and is projected to be worth £6bn to the capital’s economy by the time the first tenants arrive in 2017.

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