A £300m plan to transform London’s Royal Docks has been given the green light today, in a move that will boost east London's business ambitions.
The investment will go towards bolstering Newham’s Royal Docks, which has fallen behind London’s other waterside projects due in large part to its relative remoteness.
However, the new five-year plan spearheaded by the mayors of London and Newham aims to regenerate the area by pouring money into transport infrastructure and economic development.
The money will finance a number of projects, such as a waterside residential, leisure and business district.
According to the London mayor's office, the programme has the potential to generate 35,000 jobs, 4,000 new homes and attract more than £5 billion in inward investment by 2037/38.
Newham's Royal Docks Enterprise Zone comprises roughly 112 hectares, but the area has struggled to rejuvenate as the economic powerhouse it once was in Victorian times.
Mayor of London Sadiq Khan said: "Today marks a major step forward in the development of this site, which has the potential to become not only an important new business destination but also a key part of the capital’s cultural life."