Chinese property developer ABP has given the Chinese contractor Citic Construction a role in building the first phase of the £1.7bn Royal Albert Dock mixed-use development in London, according to a report.
But the developer has told Citic that it must team up with at least one of three major contractors already active in the UK – Australia’s Brookfield Multiplex, and the UK’s Laing O’Rourke and Mace, reports a UK trade newspaper.
Citic Construction, the contracting unit of giant state-owned Citic Group Corporation, is now in talks with those firms to form a joint venture, according to Construction News.
The role involves work on the first phase of the project, which has a total construction value of around £240m.
It is split into a £40m contract covering infrastructure and enabling works, and a £200m contract to build 700,000 sq ft of office and retail space. Both contracts are expected to be awarded by the first quarter of next year, Construction News reports.
In plans unveiled in 2013, ABP China (Holding) aims to transform the 35-acre dockland site into the UK capital’s third largest business district, targeting companies from China and elsewhere in Asia wanting to set up headquarters in the UK.
Working with UK developer Stanhope and architects and masterplanners Farrells, ABP will make the site home to over 3.2 million square feet of office, retail and leisure space.
The land is owned by the Greater London Authority.
Photograph: Artist’s render of the Royal Albert Dock mixed-use development (ABP)