Developer Makes Largest Ever Investment by China in UK

On May 29, Chinese developer Advanced Business Park signed a $1.5 billion deal with London Mayor Boris Johnson to develop a 35-acre complex of offices and shops at the Royal Albert Dock near London’s airport aimed at attracting Asian companies. It is the largest ever investment by a Chinese company in the United Kingdom, and it is projected to be worth $9.4 billion to London’s economy when the first tenants arrive in 2017, according to the Guardian.

ABP hopes to sell 70 percent of the space to Asian companies, according to Reuters. No tenants have signed up so far, but ABP is in talks with at least 20 firms. The entire development is expected to be completed by 2023.