A £100 million investment will kickstart the delivery of 7,000 new homes.
The announcement forms part of the Mayor of London’s new City Hall Developer initiative, a state-led scheme inspired by the Singapore housing model, designed to accelerate housing delivery through direct public intervention.
Around 1,000 homes are expected to be under construction by 2028.
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Sadiq Khan, Mayor of London, said: "I am delighted to be launching our groundbreaking ‘Singapore-style’ housing development arm for the capital today.
"I'm proud to be investing £100m – one of the largest investments made by any Mayor of London – to help build and deliver thousands of new, high-quality and affordable homes at Silvertown. This is a new era for housebuilding in London, with City Hall investing directly in new homes, unblocking stalled sites and speeding up development."
Silvertown, a key regeneration site in Newham’s Royal Docks, is the first in a wider pipeline of schemes to be delivered through the City Hall Developer programme.
Backed by nearly £2 billion in government grant funding and low-interest loans, the scheme empowers City Hall to take a more active role in the land market.
The GLA aims to accelerate housebuilding, boost affordability and unlock sites where the private sector has struggled to deliver.
The 60-acre Silvertown site is owned by GLA Land and Property and will eventually deliver seven million square feet of residential, commercial and public space, including affordable housing.
Ed Mayes, executive director of development for the Silvertown Partnership, said: "Today’s agreement is an important step forward for Silvertown and reflects the strength of our new partnership with the Mayor of London. This investment provides the certainty needed to unlock a complex site that has remained dormant for decades, allowing us to accelerate new homes, including affordable housing, alongside a vibrant new town centre for the Royal Docks."
The Singaporean model, where the government builds around 80 per cent of housing, underpins the City Hall Developer approach and was referenced by Mr Khan during a recent visit to Singapore.
Forhad Hussain, Mayor of Newham, said: "Having City Hall as part of the Silvertown Partnership is a gamechanger for Newham and our ambitious long-term plans for the Royal Docks. It means thousands of new homes over the next few years and, crucially, more affordable homes in the places where they are needed most."
The Silvertown Partnership has already received £233 million in infrastructure loan funding from Homes England.
Earlier this year, the Mayor launched the City Hall Developer Investment Fund (CHDIF), offering £1.5 billion in very low-cost interest loans to help housing associations speed up delivery of social and affordable housing across London.
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