A Hong Kong billionaire is poised to resurrect plans for a vast East London development once championed by Boris Johnson and David Cameron.
Ivan Ko, a property tycoon behind the redevelopment of Victoria Harbour in Hong Kong, has shown an interest in a 35-acre site opposite London City Airport that was originally planned to be the capital’s answer to Venice, according to City sources.
Beijing-based Advanced Business Park (ABP) was awarded a £1.7bn contract in 2013 by then London mayor Boris Johnson to develop the site. Proposals included a snowdome and Chinese schools, offices, shops and homes.
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Announced as Chinese investors flocked to London in the wake of the Olympics, it was hoped that the scheme would create thousands of jobs in the area.
However, construction was halted at the site two years ago which is now being called a “ghost town”.
City Hall agreed a final termination with ABP in February this year.
Read more: The Telegraph