London Mayor Sadiq Khan has announced a £100 million investment in a new housing scheme, directly inspired by Singapore’s successful state-led development model. City Hall will partner with the Silvertown Partnership to facilitate the construction of 7,000 new homes in the Royal Docks area of east London.
Around 1,000 of these properties are expected to commence construction by 2028. This significant investment underpins a new City Hall Developer scheme, which emulates Singapore’s approach where the state plays a central role, building 80% of homes and owning most of the land. Mr Khan expressed his hope that this initiative would empower City Hall to become an active developer across more sites in the capital, thereby maximising the delivery of affordable housing.
The announcement was made during the mayor’s trade mission to Singapore and Japan, where he is promoting London as a leading global destination for investment.
Sir Sadiq said: “I am delighted to be launching our groundbreaking ‘Singapore-style’ housing development arm for the capital today.
“I’m proud to be investing £100 million, one of the largest investments made by any mayor of London, to help build and deliver thousands of new, high-quality and affordable homes at Silvertown.
“This is a new era for housebuilding in London, with City Hall investing directly in new homes, unblocking stalled sites and speeding up development.”
The mayor said of the new investment: “It builds on our record investment of nearly £12 billion through my affordable homes programme to deliver social and affordable housing across London and our package of pro-housing emergency measures with government to turbo-boost the delivery of new homes in the capital.”
