The opposition parties at City Hall have called on the mayor to back tighter controls on residential sales to overseas buyers. Galliard Sales Director David Galman said 70% of properties at Royal Gateway had been sold to domestic buyers.
David Galman said "off-plan" sales were an essential part of persuading banks to fund a development before building work could start.
Galliard Homes took out a newspaper advert today urging house-hunters to "Call now prior to Hong Kong launch this weekend".
Flats in the 336-apartment Royal Gateway development range from a £299,000 studio to a £715,000 3-bedroom duplex.
One of the London's largest housing developers has defended the sale of unbuilt homes to investors in the Far East. Galliard Homes has just marketed a new residential project in East London to prospective buyers in the UK and Singapore simultaneously.
A 1.5 billion pound deal to transform a neglected part of the East End has been announced by the Mayor, Boris Johnson. A new development at Silvertown Quays in the Royal Docks will create 9,000 new jobs.
Piers Hopkirk reports.
The Silvertown Quays are to be regenerated in a £1.5 billion deal agreed by Boris Johnson. The site has been derelict for decades and will eventually be transformed from the industrial age to housing and a business hub.
However the site has an interesting use in modern times being the setting for some of the biggest bands in the world to shoot their music videos.
Coldplay filmed 'Every Teardrop Is a Waterfall'
The Smiths filmed 'Ask' in 1986.
The Arctic Monkey filmed their music video 'Fluorescent Adolescent'.
The developers of the £1.5 billion redevelopment of Silvertown Quays say they plan to create a new quarter for London that will take the Docks from the industrial age to the digital age.
"It will be a place where brands will be able to interact with customers and present themselves all in a setting around the water, around the dock side where there will be shops restaurants and new places for people to live." - Elliot Lipton, The Silvertown Partnership
The developers behind the £1.5 billion Silvertown scheme announced by Mayor of London Boris Johnson today say the remoteness of the location is not an issue and the completion of Crossrail will help the project.
– Elliot Lipton, The Silvertown Partnership
"We already have 3.5 million people a year coming to this site each year via the DLR to visit excel our neighbours next door and the arrival of Crossrail in 2018 is going to make this site much more accessible with the City of London being just ten minutes away and the West End only 15 minutes."
Boris Johnson has announced a £1.5 billion project to develop the 50 acre site in Silvertown Quays in a scheme that could create up to 9,000 jobs.
The area has been undeveloped for decades but the developers behind the scheme The Silvertown Partnership say London has seen the regeneration of a number of sites across East London such as nearby Canary Wharf and Straford.
Boris Johnson has announced a £1.5 billion deal to transform the Silvertown Quays in London's Royal Docks, creating thousands of new jobs for Londoners.
The area will be turned into a new so-called 'innovation quarter' and destination for global brands.