Developer Knight Dragon has selected Mace as its preferred bidder for the next phase of an £8.4 billion project in London.

The project involves the construction of Knight Dragon's NO205 scheme in the Upper Riverside District on Greenwich Peninsula.

The development is to comprise of two buildings with 464 apartments with a construction value of £150m.

Upper Riverside is to include nearly 1,000 homes and be one of five new districts created on the peninsula.

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It forms part of the largest ever single regeneration project in London, creating 15,720 homes and 12,000 jobs.

The scheme includes building two schools, public squares, parkland and independent shops, bars and restaurants.

Knight Dragon has so far invested £500m in the 150 acre site, with 3,000 homes currently under construction and 700 due to be completed this autumn.

In addition, new plans have been drawn up which to improve underground and bus links at North Greenwich station to accommodate the new community.

Paul Symons, Construction Director at Knight Dragon, said: "We are delighted to have selected Mace as the Preferred Bidder for our NO205 project, the next stepping stone in the development of the Peninsula. Mace will be providing final proposals over the next eight weeks with a view to entering into a contract for the works in October 2015."

(LM/CD)