Summit discusses financial district at Royal Albert Dock
17:16 03 June 2014
The emergence of the Royal Albert Dock as a financial district was the focus of a summit of Asian business leaders today.
A year on from a £1bn deal to transform the dock, the Asian Business Port (APB) chairman Xu Weiping hosted a conference on the site.
Entitled ‘A real estate revolution and opportunity for Asian businesses’, the summit was attended by 400 business leaders, including more than 150 Chinese delegates.
Mr Xu said: “East London is fast becoming one of capital’s most exciting places to do business and we believe that the new business district model we are creating at Royal Albert Dock will start a business revolution and a new way of working for future companies.
“A year ago we signed the agreement with the Mayor of London and we have come a long way since.
“It is my pleasure to host this summit to open up opportunities in this part of London to Chinese and other Asian businesses.”
As part of the summit, Eric Pickles, the secretary of state for communities and local government, delivered a keynote speech about the Royal Docks Enterprise Zone.
He said: “Enterprise Zones are part of our long term economic plan to secure a better future for people right across the country.
“Chinese businesses have already committed billions to Enterprise Zones in London and Manchester, and today is a chance to show them the potential of Enterprise Zones in other parts of the country.”
Plans for the dock were submitted to Newham Council in April, and it is hoped the development will set a new precedent due to its location away from the city centre.
Subject to planning approval, construction on the 35 acre site could begin as early as next year.
It is estimated up to 20,000 new jobs will be created, with the majority available to local people.