The Mayor of London, Boris Johnson has visited the Kings Cross regeneration area, where Europe's leading real estate and property advisor is constructing its new British headquarters.

In a major boost for London's position as a global financial powerhouse, French company BNP Paribas Real Estate is the latest firm that intends to put down roots at Kings Cross.

Kings Cross is one of 33 Opportunity Areas designated by the Mayor with significant capacity for new housing, commercial and other development. The area has recently benefited from a £550m upgrade, with the original station building and its platforms overhauled and a spectacular new western concourse constructed. Passengers can travel to Paris from London in just over two hours.

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The redevelopment of the station area has been a catalyst for one of the largest regeneration schemes in Europe, with 67 acres of brown field land being redeveloped to create eight million sq ft of offices, retail and 2,000 new homes and a 75,000 sq ft public space.

The BNP Paribas Real Estate building is set to be complete by the end of 2014 and will include 50,000 sq ft of offices and 10,000 sq ft of retail. 4,000 people will work at the site, the majority of whom will be Londoners.

The Mayor visited the site of the new building and met Philippe Zivkovic, Executive Chairman of BNP Paribas Real Estate and over 80 of the company's international clients.

The Mayor said: "London is the world's greatest city in which to do business and it is wonderful news that BNP Paribas, an internationally renowned company, is investing here in a rejuvenated Kings Cross and tapping into the huge amount of real estate in the capital that is ripe for development.

"The UK economy is now on an upwards curve and London is leading the way, attracting record levels of overseas investment such as this which is in turn helping to drive job creation."

(CD)