The announcement was published on the Australian Stock Exchange (ASX) on Wednesday, 29 March 2017 and confirms ASF Group has initiated the $9.0 billion dollar Castle Green Project in East London, also known as the “City in the East”.
This is one of many important infrastructure projects underway in London and the second involving ASF in London that looks to address infrastructure gaps and housing affordability issues facing the world’s most sought-after global city.
The development includes building 15,000 new residential dwellings, rerouting the A13 trunk road and creating commercial buildings of 3,700,000 square feet. This project is set to create an estimated 8,000 employment opportunities and deliver significant social, economic and infrastructure benefits to the community.
Similar to the Gold Coast Integrated Resort (GCIR), ASF Group has assembled an international Consortium, bringing together a collection of experienced Chinese conglomerate partners to deliver the Castle Green Project, strengthening the financial capability and depth of ASF Group’s project delivery expertise.
The international Consortium that will deliver the Castle Green Project includes:
- China Construction Overseas Development Co. Ltd. — China State Construction Engineering Company’s (CSCEC) overseas subsidiary
- China Harbour Engineering Company (UK) Ltd. — a subsidiary of China Communications Construction Company Ltd (CCCC)
- China International Marine Containers (Group) Ltd (CIMC).
The announcement provides another example of ASF Group’s role as a leading investment group that assembles international Consortiums with the expertise to effectively deliver major building and infrastructure projects.