Investment is set to continue, with the following new developments planned.
London City Airport:
Thirty years after the first flight touched down at London City Airport, details of its £400m expansion have been released.
This privately-funded investment includes plans for seven new aircraft stands, a parallel taxiway to maximise runway capacity, and a world-class terminal extension to accommodate increasing passengers.
The improvements will enable two million more passengers per year to use the airport by 2025 and will add 30,000 additional flights per year.
The creative sector:
Hundreds of creative businesses are making East London their home. The V&A, Sadler’s Wells, The University of the Arts London and University College London (UCL) are working with the London Legacy Development Corporation (LLDC) to form a new cultural and higher education quarter on the Queen Elizabeth Olympic Park.
A new Hollywood-scale film studio planned for Dagenham East has also come a step closer after the London Mayor, Sadiq Khan, said a study has shown the site is an ideal location and a “rare chance” to build the first new TV and film studio in the capital in 25 years.
Tech City:
Tech City, the third largest technology start-up cluster in the world (after San Francisco and New York City) is located 15-minutes from Excel London. In addition, Here East, the former press and broadcast centre for the Olympic Games, is now a thriving commercial space, attracting innovative digital and arts start-ups, alongside corporate brands including BT Sport.
London is a global hub for technology innovation and talent, with the fastest growing ITC sector in Europe. The likes of Facebook, Google, Snap, Apple and Twitter have demonstrated their confidence in London with long term commitments to open offices and recruit more people.
Continued investment:
The area surrounding Excel continues to attract significant investment, with an Asian business park set to become the headquarters for Chinese business in the UK.
In addition, the Silvertown Partnership will create a brand new commercial district directly opposite Excel, whilst developer Ballymore s building thousands more homes to accommodate the population that’s moving east.
