ASF Group Ltd and the London Borough of Barking & Dagenham (‘LBBD’) will be working jointly together in assessing and developing a major infrastructure project in the Castle Green area, including the building of 15,000 new residential dwellings; rerouting of the A13 trunk road and creating commercial buildings of 3,700,000 square feet which will create an estimated 8,000 employment opportunities. The Gross Development value of the project will be approximately A$9 Billion (on current property values).
The Castle Green project will be transformational for LBBD, bringing considerable social, economic and infrastructure benefits, and will be conducted together with Be-First, LBBD’s Local Authority Regeneration Company.
The launching ceremony of the Castle Green Project was held in the Barking Town Hall, London on 24th March, 2017. During the ceremony, Mr Darren Rodwell, the leader of Barking and Dagenham Borough; Mr Jin Xu, Minister Counselor of the Economic and Commercial Office at the Chinese Embassy and Ms Min Yang, Chairman of ASF Group presented strategic partnership certificates to the representatives of the three strategic partners for the Project which included: China Construction Overseas Development Co. Ltd., China Harbour Engineering Company (UK) Ltd., and China International Marine Containers (Group) Ltd.
Min Yang, ASF Chairman commented:
“Given the potential scale of the regeneration, we see this as an immensely exciting opportunity, not just for ASF, but for Barking, London and the UK.
“We are seeing strong interest from our Chinese investors in the potential of the project. Our strategic partners bring with them a wealth and unrivalled depth of expertise, from concept design to construction, marketing and sales”.