Green light for Royal Docks
Fri 13th July 2018, 11:30 am
The £314 million regeneration plans for the Royal Docks in Newham have been approved by the London Economic Action Partnership board.
The area has the potential to deliver 4,000 homes and 35,000 jobs, and could attract over £5 billion in inward investment by 2037.
It is currently London’s only enterprise zone, which means local employers can apply for business rates relief and could be eligible for other forms of financial support. It is part of the larger Royal Docks and Beckton Riverside Opportunity area, which has the potential to deliver up to 25,000 homes and 65,000 new jobs.
The regeneration of the Royal Docks will be launching next year, and will take place over five years.
Speaking to Sitematch, Newham’s mayor, Roskshana Fiaz OBE said: "This is exciting news for Newham, placing Royal Docks as London's new gateway to the world. This funding will bring more genuinely affordable homes, highly skilled jobs, apprenticeship opportunities for our young people and improved transport infrastructure to an area steeped in rich industrial history.”