The Chairman of the
company behind the £1.7bn new business district in London’s Royal Albert Docks says that he is
committed to the scheme, despite concerns about Brexit.
Xu Weiping of ABP says
that 50% of the completed first phase units were reserved before building
started, and he confident that the second phase will be successful. He says
that investors are “confused” by Brexit but believe the long term prospects for
market are good.
Xu Weiping said of these investors:
“Many of them are very confused about the future of the UK”, but he believes the scheme will succeed “as
long as the UK and London business
environment returns back to normal.” And he added: “I will never leave the UK.
ABP are always committed to the UK
and always committed to this development. We will always want to be in east London. The future of London development is in east London.”
The Royal Albert Docks
scheme is a potentially huge scheme, which could be as significant for the area
as Canary Wharf was in the 1980s. Canary Wharf
has, of course, been around 30 years in the making so it could well be a
similar period before we know whether Xu Weiping’s confidence is justified.