President Xi witnesses the signing of the General Contractor Agreement for ABP Global’s London project, exclusively advised by Savills

ABP Global has signed CITIC Construction, a subsidiary of CITIC Group, as the general contractor of London’s Royal Albert Dock transformation project, known as “Asian Business Port” and exclusively advised by Savills. The signing took place in Mansion House on 21 October, witnessed by Chinese President Xi Jinping and British Prime Minister Cameron.

Since 2013, Savills has worked closely with ABP Global on the Asian Business Port project as the exclusive marketing advisor and sales agent. Its team of specialists has spent the past two years developing the best possible planning proposal for the project. With CITIC Construction now on board, it will further guarantee that the project will be delivered to the highest standard.

Asian Business Port is situated within the only enterprise zone approved by the London government. As the flagship project of London’s regeneration campaign, this 4.7 million sq ft development will cost more than £1.7 billion and will be worth £6 billion to the UK economy, while creating up to 30,000 new jobs. Designated to become London’s next business district following the City of London and Canary Wharf, the project expects to provide an ideal platform for Asian companies seeking to establish a presence in the UK and the European markets.  It is highly anticipated by UK politicians and companies alike to promote China-UK business and trade.

Asian Business Port marks the first overseas commercial project that ABP Global has undertaken. Selecting Savills as a global partner for this project, the developer is hoping to transform the formerly undeveloped dock into London’s next business district by leveraging Savills global network and expertise.

Grant Ji, Senior Director of Savills Northern China Investment, says: “Our road shows for Asian Business Port in Singapore and Hong Kong have been very successful. As the project gains popularity, more experienced investors and developers are seeking to participate in the development, operation and management of the project. Savills is having in-depth discussions to identify more accomplished partners for ABP Global’s London project.”

Billy Chau, Managing Director of Savills Northern China, says: “ABP Global’s Asian Business Port project in London has received firm support from both the Chinese and British governments, which serves as a good example of the strengthening cooperation between the two countries. We have  assembled two advisory and sales teams in both China and the UK for the project. Not only have we watched the project evolve from a concept to an approved master plan, we are also confident in making it a benchmark project that promotes China-UK business and trade, helping Chinese enterprises enter the UK market.”

Savills is a world-leading real estate advisory firm with a history spanning 160 years. 2015 marks its 20-year anniversary of operation in China, where it has established a strong presence by combining a global perspective with extensive knowledge of the local market. It has assisted to conclude a large number of bilateral investment deals in both Chinese and British real estate markets. Their significance has been highlighted on numerous occasions with invites to a number of exchange events, meeting many important politicians from both countries.

Albert Lau, Chief Executive Officer of Savills China, comments: “The China-UK relationship has entered a golden era with increasingly frequent interactions and exchanges between the two countries. Shortly following British Chancellor’s visit to China in September, Chinese President Xi Jinping paid a state visit to the UK, which was expected to enhance the cooperation between China and the UK in a variety of aspects including economy, trade, investment and culture. After meeting the Chancellor and his delegation in Shanghai and Chengdu, Savills expects to play a more pivotal role in promoting China-UK bilateral trade and investment relationships in the future.”