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Chinese developer to revamp London docks for Asian firms

A Chinese developer has signed a deal to convert a derelict plot of land next to London's City Airport into the British capital's third financial district aimed at Chinese firms and worth an expected $1.5 billion when completed.The 35-acre site at the Royal Albert Dock, industrial land currently strewn with empty warehouses and unused docks, will be redeveloped by Advanced Business Park (ABP) and British developer Stanhope into a 3.2 million square feet complex of offices, homes and shops that will house mainly Chinese firms."Creating a third financial district in the capital, this development will act as a beacon for eastern investors looking west, bringing with it tens of thousands of jobs and billions of pounds of investment for the UK economy," London Mayor Boris Johnson said at an event where the deal was signed.The scheme is the first project outside China for ABP, which has built a 15 million square feet business park in south west Beijing and is building two others in the coast...

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