A computer generated image of what the One Nine Elms development will look like once completed. Pict

A computer generated image of what the One Nine Elms development will look like once completed. Picture from The Nine Elms Vauxhall Partnership

Chinese developer Dalian Wanda Group has appointed a joint venture, CI-One, as main contractor for a £900 million (€1.25 billion) UK residential tower at Nine Elms, London.

The project will be carried out between the UK-based construction company Interserve, and the China State Construction Engineering Corporation (CSCEC).

Plans for the 56-storey luxury development in the South Bank area, near the River Thames, include a 5-star hotel. The scheme, known as One Nine Elms, has required demolition of existing towers on the site, and construction is scheduled to begin later this year. It is expected to be completed in 2018.

The project site forms part of the wider Nine Elms regeneration area. This includes a 10-year joint venture between property groups St Modwen and Vinci, for the €2.5 billion New Covent Garden market development – which is scheduled to begin this summer.

Other key schemes being developed at Nine Elms include a €10.5 billion regeneration of the former Battersea Power Station, and a new US Embassy building.

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