ABP Announces Major Developments

Group photo of the major stakeholders, WT Partnership, Brookfield Multiplex Construction Europe Ltd, CITIC Group, CITIC Construction, CITIC Dicastal, ABP, London Borough of Newham and Greater London Authority.

05 Aug 2016 ABP Announces Major Developments

Significant progress has been made in turning the ABP Royal Albert Dock development into London’s next business district underlining the commitment in the project and sending a loud message to strengthen confidence in the UK property market.

Major steps have been made in the last few days to push the project forward including the finalising of the appointment of CITIC Construction as the main contractor, CITIC Construction engaging  Brookfield Multiplex as the Principal Subcontractor under a First Stage Appointment (FSA), and agreement with the Greater London Authority to start enabling works on site to prepare for the full construction programme to begin by the end of the year.

The announcements came when Wang Jiong, Vice Chairman and President of CITIC Limited, the Chinese conglomerate which is the parent company of CITIC Construction, flew in from China with a group of 9 senior executives from the company for a site visit and to see the beginning of the enabling works. The delegation were joined by ABP Chairman, Xu Weiping, and were greeted at Royal Albert Dock by Chief Executive of London Borough of Newham, Kim Bromley-Derry.

Around 20 people from CITIC Construction and Brookfield Multiplex, based at the historic Compressor House building, have already started work scoping the construction programme for the first phase.

The enabling works are being undertaken by contractor Careys at a cost of £2m and will take around 14 weeks to complete before the full construction gets underway. There will be up to 700 construction workers on-site at the peak of the main construction programme.

Xu Weiping, Chairman of ABP Global Group said: “We were impressed by the high standard of work, cost effective, cooperative approach and enthusiasm of Brookfield Multiplex and pleased with CITIC Construction’s recommendation on selecting Brookfield Multiplex as the Principal Subcontractor.”

“The bilateral exchanges between China and the UK have never been stronger and the progress of the project demonstrates ABP’s commitment of creating London’s next business district at Royal Albert Dock and creating better life and more jobs to the area by promoting the trade between UK and Asia.”

A spokesperson for Brookfield Multiplex said “This is an opportunity for two global construction businesses to work together and collectively deliver on the vision of ABP and its leadership. We look forward to bringing our technical expertise, market experience, and proven capability together in a partnership with CITIC Construction. This ground breaking delivery model will potentially set the high bar for future developments to follow”.

ABP announced that CITIC was backing the Royal Albert Dock project in October 2015 with an agreement signed by the CITIC Construction and ABP and witnessed by Chinese President Xi Jinping and former British PM David Cameron and since then discussions have been taking place for CITIC Construction to be officially appointed main contractor.

CITIC Construction and ABP have been working closely to complete the competitive tendering process that saw Brookfield Multiplex engaged. The Greater London Authority were fully consulted on the procurement.

James Murray, Deputy Mayor for Housing and Residential Development, said: “This is an important step towards creating the new Royal Albert Dock as a centre for businesses, shops and housing over the coming years. Despite the recent decision to leave the European Union, this reminds us that London is open and is the best place in the world to do business. This exciting development will act as a beacon for investment in the capital and the UK economy.”

Sir Robin Wales, Mayor of Newham, said: “It is great that we can be certain of ABP’s commitment to this development which will provide a vital boost to both Newham and the UK’s economy. Within just a few years we will all be reaping the benefits of this new business district which will bring life and energy back to the historic Royal Docks, and put them at the heart of the country’s economy once again.”

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For further information please contact:

Yan Chen
Communications Executive

ABP (London) Investment Ltd.
Phone: +44 (0)20 3818 8540
Email: yan.chen@abp-london.co.uk