Poll
LONDON DOCKS - THE BUSIEST FINANCIAL AND COMMERCIAL AREA IN THE WORLD
 | CONVRSION OF FORMER INDUSTRIAL SITES |
| LONDON DOCKS - THE BUSIEST FINANCIAL AND COMMERCIAL AREA IN THE WORLD | |
| Location | United Kingdom London |
| Ownership | Mixed |
| Finance | Public - private partnership,Mixed |
| Projects readiness | Finished project |
| Internet links | www.canarywhart.com; |
Renovation of the London docks took more than 20 years. The process required skills in the realm of management and planning, as well as experience in architecture, land restoration and construction so as to create a platform for foreign investment. The London docks started to decline in the 60's of the last century with the advent of new technologies and the containers. The blow on the economy of east London is disastrous. For centuries the region was dependent on the docks and related industries, mainly processing and factory production.
London docks is the largest regeneration project in the world where the old docks from the early 80's of the 20-th century are replaced with the largest business and banking center thus employing more than 50,000 people.
Since 1981 the regeneration of the docks are managed by the Development Corporation of London docks - government funded body with a mandate to restore the use of land and buildings, to stimulate industry and trade and to reintegrate the region into the urban structure of London. Soon it is realized that the key to sustainable development of the region is the integration of the transport network. The first stage of the automated railway system Docklands Light Railway is built. Completion of the new subway line makes the region more accessible, i.e. the travel time to central London is only 10 minutes.
In the mid-80's master plan was developed of Canary Wharf, an area north of the Isle of Dogs and one of the largest construction companies announced plans to build in the center of the region the tallest building in Great Britain. Today in Canary Wharf is the largest concentration of tall buildings in the UK. Since the mid 90's the favorable market conditions are contributing to an unprecedented rapid development of the region to accommodate publishing, banking and service companies. Regeneration of the docks created 50 000 jobs. The East London University and City Airport are also located in the region, attracting huge flows of people and investment.