Ambitious plans for a £1bn “Chinatown” property development in London’s Royal Docks, a launch pad for 19th-century imperial trade to the East, are close to being finalised, in what would be one of the largest Chinese investments in the UK.
In a sign that Whitehall-Beijing political tensions have not weakened business ties, Advanced Business Park, a Chinese developer, is hoping this month to commit to building an office complex on a 35-acre site next to the giant docks. The move would symbolise east London’s shift from major port to international commercial hub.
ABP bosses met David Cameron at a global investment conference on Thursday and held talks with London mayor Boris Johnson, who said the company had “very interesting proposals” for the land next to City Airport. Although he said the deal was “not quite there”, officials close to the negotiations said they expected ABP – a little-known developer – to announce an investment of more than £1bn later this month.