More than £300 million will be spent over 5 years to build 4,000 homes, create 35,000 skilled jobs including apprenticeships for young people, and attract more than £5 billion in inward investment by 2038.
It is London’s only Enterprise Zone – a designated area where employers can access business rate relief and other financial support.
Newham Council is working closely with the Royal Docks Team – a joint-initiative between Mayor of Newham Rokhsana Fiaz and Mayor of London Sadiq Khan – to create a development that attracts wealth to the borough and improves the lives of residents.
The Royal Docks team are putting residents and businesses at the heart of this regeneration through cultural and community events to attract people to the area.
Chinese company ABP is investing £1.7 billion to create a new 35-acre international business district focused on technology. The development is in the latter stages of construction.
Indian venture capital firm Pontaq has also partnered with ABP to launch a UK India Tech Hub and aims to host 50 companies in the next two years.
The government has announced that one of 12 national institutes of technology will be built in the Royal Docks. The London Institute of Transport Technology will provide more opportunities for local residents to jobs in this sector.