Hong Kong developer building for the future in the capital

Hong Kong-based developer Knight Dragon says it plans to 5,000 homes with a Gross Development Value (or GDV) of £2.5 billion in London.

Knight Dragon, which is also based in London, has enlisted the services of housing association giant L&Q to deliver the affordable element across the whole Greenwich Peninsula.

As part of its wider £8.4bn Greenwich Peninsula regeneration masterplan, it has now revealed plans for Meridian Quays, a seven-acre mixed-use scheme near North Greenwich tube station, comprising 5,000 homes for sale and rent, leisure facilities, food and beverage venues, a hotel and a school.

Greenwich Peninsula is one of the largest regeneration projects in Europe. Transforming a derelict post-industrial 79 ha site into an urban community of 35,000 people, its masterplan will create a significant new piece of London

Knight Dragon also revealed a new public and private partnership with the Mayor of London and Greater London Authority’s selected housing partner L&Q to deliver affordable housing across the whole Greenwich Peninsula project as part of its Section 106 agreement.

Founder and vice-chairman of Knight Dragon, Sammy Lee told Property Week magazine: “We are thrilled to be progressing with the next chapter of this exciting part of London and working with the mayor and L&Q to bring forward an even wider range of homes and ensure a mixed and balanced community,” Sammy Lee, founder and vice-chairman of Knight Dragon, told Property Week magazine.

“After several years in development, the pioneering deal is now approved by the mayor and we look forward to L&Q confirming the formalities in the coming weeks to get the plans under way.”

Mr Lee’s enterprises have spanned multiple industries from property and hotels to aviation ventures and film. He develops property globally, using his creative vision to disrupt the traditional property industry and identify opportunities to unlock value.

After training as a lawyer in England, he founded his own law firm in Hong Kong. In 2003 he formed an independent film company financing, producing and distributing feature films including Oscar-winner Monster. He has completed projects across the world; in London he developed the Chancery Court Hotel in 2003, paving the way for the five-star Rosewood.

This move became a catalyst for the revitalisation of the area of London now known as Midtown. Similarly, working closely with Dr Henry Cheng, Mr Lee was the first to introduce to London the lifestyle-led development The Knightsbridge.

This service-led concept won Residential Development of the Year in 2006 and took the prime West End lifestyle to another level.

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