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Chinese developer gets Indian investment for $2.7 billion London project

Staff writer ▼ | June 29, 2015
Chinese property developer ABP signed an agreement with Indian company Strawberry Star to cooperate in the development of the 1.7 billion pounds ($2.7 billion) project in Royal Albert Dock, east London.
Royal Albert Dock
Developer   A project in Royal Albert Dock, east London
ABP London will receive "tens of millions of pounds" from Strawberry Star "in return for equity", according to the company.

On the same day the Chinese company launched the sales campaign with more than 10 enterprises from Britain and Asia signed confirmation agreements and each paid 50,000 pounds reservation fee to secure office in the first phase of the 4.7 million square feet (about 0.4 million square meters) development which has the ambition to build another business heart in London.

ABP Chairman Xu Weiping said: "I am delighted to be partnering with Strawberry Star. China and India represent two of the most powerful growing economies in the world and there is a synergy between us."

Chairman of Strawberry Star Group Santhosh Gowda said: "The reason why we are joining with ABP is we see great potential opportunities of the development, we believe that the collaboration will bring mutual benefits to both of the companies. "