Funding has been secured for the London River Park from Singapore based Venus Group allowing detailed plans to be submitted to the City of London Corporation.
The walkway will provide a continuous twelve metre wide floating pontoon to run parallel to the existing disjointed pathways and streets that currently connect the north bank of the river.
Along its route it is intended that eight themed pavilions will be constructed to showcase London and for hosting events beside the Thames.
The developer is currently working with architect Gensler and Mace to finalise the concept design.
Mayor of London, Boris Johnson, said: “The sheer beauty and design brilliance of this structure will provide yet another amazing and unique attraction for the capital.
“We will proceed sensitively working closely with our partners, particularly in the City, to ensure that one of the most famous and cherished waterfronts in the world is enhanced for the benefit of our great capital.”
John Naylor, Head of Property and Construction, Venus Group Singapore, said: “This will be an exciting addition for the summer of 2012 and a new opportunity for Londoners to relax by the Thames in the heart of the City.”
A spokesperson for the City of London Corporation said: “We are looking forward to receiving this fascinating proposal and giving it our detailed consideration.”