London Mayor removes developer from £1bn Royal Docks project

The developer in charge of a massive redevelopment of the Royal Docks has been removed from the project. London Mayor Sadiq Khan has torn up a £1bn agreement with Chinese developer Advanced Business Parks (ABP), having become dissatisfied with progress on the flagship scheme. The project covers 35 acres (14 hectares) of derelict public land north of Royal Albert Dock, with plans for nearly 5m sq ft (46,000 sq m) of development. About a tenth of the land has been built on so far. City Hall will leave what has been built so far in the hands of ABP, but the remaining five phases are to be entrusted to another developer. A spokesperson for the Greater London Authority said: "The Greater London Authority has terminated the development agreement for the regeneration of Royal Albert Dock, which was signed in 2013 under the previous mayor, after neither ABP London Investment Ltd nor its guarantor, Dauphin Holdings Group, were able to meet the obligations in the agreement".

BBC News (13/07/2022)