The Royal Docks has the potential to generate 35,000 jobs, 4,000 new homes and attract more than £5bn in inward investment by 2037/38.
Today, the detailed delivery plan for the 112-hectare Royal Docks Enterprise Zone was signed off by the board of the London Economic Action Partnership, responsible for allocating funding.
The planned investment, to be carried out over five years from 2018/19, will support the comprehensive regeneration of the Royal Docks over the next five years.
This will involve an integrated package of investment in transport infrastructure, connectivity, economic development, placemaking, and promotion and estate management.
The Mayor of London, Sadiq Khan, said: “Today marks a major step forward in the development of this site, which has the potential to become not only an important new business destination but also a key part of the capital’s cultural life.”
Key projects in the plans
- Creating an attractive waterside residential, leisure and business district for the borough of Newham and for London as a whole;
- Enhancing the public realm and creating high-quality spaces, ensuring the landscape reflects the area’s industrial heritage and accommodates both cultural and business uses
- Significantly improving transport and digital connectivity for residents and businesses
- Increasing the provision of affordable workspace by investing in underused sites and supporting the development and retention of SMEs
- Developing an ambitious employment and skills programme to train local people
- Developing an ambitious cultural programme
- Engaging the local community and businesses in and around the Royal Docks to ensure they have a stake in the area’s regeneration;
- Promoting the Royal Dock as destination which attracts talent, visitors and inward investment from around the world.
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