The Greater London Authority (GLA) has approved planning permission to developer ABP for a 4.7 million square foot development at the Royal Albert Dock.

In a new £1.7 billion business district in London, work on the 35 acre site is expected to begin later this year, with the first phase being completed in 2018. The development will create more than 20,000 new jobs and is estimated to bring in £6 billion to the London economy.

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ABP's Chief Operating Officer and Executive Director, John Miu, said: "Obviously we are delighted by how the whole planning process has progressed and we are looking forward to getting underway and completing our first phase in just 3 years.

"There is tremendous interest from across Asia from companies wanting to locate in the Royal Albert Dock business district development and we look forward to making further exciting announcements in the months ahead."

(LM/CD)