Oxley to partner with Ballymore to develop Royal Wharf

Potentially 3,400 new homes across 40 acres.

Homegrown lifestyle property developer, Oxley Holdings Limited (Oxley), has announced that it will be working together with UK-based Ballymore Group (Ballymore) to develop Royal Wharf in East London.

Royal Wharf is the centerpiece of the regeneration of the Royal Docks in East London. Royal Wharf stretches to nearly 40 acres and offers an opportunity to build a completely new district along the River Thames. The development will accommodate approximately 3,400 homes, a new school, retail high street along with space for restaurants, cafés, offices and bars. The proposal also includes a new park along the River Thames.

Although Oxley only completed the purchase of Royal Wharf late last year, development works have already started on site. An ambitious programme has been set for the delivery of the project, which will respond to the fundamental under-supply of housing in London. The Royal Wharf is slated for launch in March 2014. The development will be launched exclusively in London and the UK on 20 March 2014 and in Singapore shortly after that.

Commenting on the partnership, Mr Ching Chiat Kwong, Chairman & CEO of Oxley said, “We are extremely excited to be working with one of the most experienced residential developers in London. We are focused on selling homes to Londoners and Ballymore has a strong track record in the London market. Our partnership has also allowed us to make significant progress since the completion of our purchase over Christmas. We believe that the Royal Wharf will be one of the fastest moving projects in London."

Oxley and Ballymore offer a complementary set of skills and resources for the Royal Wharf development. Having successfully launched 27 residential, commercial and industrial projects since its listing in 2010, Oxley has built up a good track record, sound financial strength and a strong brand name in Singapore that it is now ready to take abroad. The Company believes that its innovative concepts for large-scale projects such as this will offer a good value proposition to prospective property owners.

Ballymore on the other hand, is one of London’s largest residential developers with an experienced management team that has been successfully working on developments across London including in Docklands, the lower Lea Valley, Wapping, Spitalfields, Shoreditch, Nine Elms, West Hampstead, Brentford and Hayes. Ballymore has been selling homes in London for over 20 years, giving the partnership a genuine local insight.

Ballymore Chairman and Group Chief Executive, Sean Mulryan, said, “I was very impressed with Oxley in their management of the purchase of Royal Wharf. Given our complementary strengths I believe that this is the start of a long-term relationship for Ballymore. We are delighted to remain involved in Royal Wharf in what is one of the most intriguing regeneration areas in London.”