The Mayor of London, Boris Johnson, this week welcomed pledges from 10 Chinese businesses who have committed to office space in the much anticipated £1 billion Asian Business Port development in London’s Royal Albert Dock Enterprise Zone.
This takes the number of firms currently set to move into the new business park to 57, and is expected to account for around 600,000 sq ft of the development. The latest 10 firms include electrical manufacturers, commercial real-estate, water conservancy, educational training and fashion and textiles firms.
The Chinese investment will make the Royal Docks London’s third business district and, according to initial projections, be worth £6 billion to the UK economy, generating £23 million in business rates annually and acting as a catalyst for further development in the area.
The aim is to reinstate the Royal Docks as a commercial heartland in the capital, creating a strategic trading hub with Asia, and delivering around 20,000 full-time jobs and boosting local employment in Newham by 30 per cent.
The 10 firms signed up to the Asian Business Park in London’s Royal Albert Dock are:
• Eve Fashion Group – www.evefashion.com
• Tebian Electric Apparatus Stock Co, Ltd – www.tbea.com.cn
• SEC International Fashion Brand Management & Consultation Co, Ltd
• China JiYun Group – www.chinajiyun.com
• China Water Group – www.chinawatergroup.com.cn
• China Prospect Education – www.ixue.cn
• The sportswindow culture communication co, LTD – www.sportswindow.com.cn
• Beijing Capital Group Co, Ltd – www.capitalgroup.com.cn
• Alphatex Knitting Co.,Ltd – www.alphatex.net.cn
• Guangyao Oriental Group – www.gydf.com.cn
As an Enterprise Zone, the Royal Docks already offers reduced business rates, a simpler planning process, and superfast broadband.