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Down by the docks [Global Times](Global Times Via Acquire Media NewsEdge) Silvertown Quay in Royal Victoria Dock, East London Photo: Sun Wei Walking along Canary Wharf, the heart of London's docklands stretching 10 miles along the Thames, I felt like I was wandering in a Manhattan dropped from the sky.Yes, the area definitely looks very different from the conventional streets and communities in elsewhere in London. The distinct skyscraper clusters are a show of its prosperity and dynamism as one of London's two main financial centers. It is home to the global headquarters of Barclays and HSBC, and the London headquarters of US investment banks JPMorgan Chase and Morgan Stanley. The development integrates transport and employment in such a seamless way that the employment in Canary Wharf financial district has almost quadrupled in the past decade. Today, there are more than 100,000 workers commuting to Canary Wharf each work day, according to the Office for National Statistics. Around 15 million square feet of office and retail space now exist on the site. It is probably the newest and most dynamic area of business London.Seeing this, you wouldn't imagine that around 30 years ago, here there was nothing more than a derelict wasteland, high unemployment and poor quality of life. The docks date back to the 19th century when industrial revolution-era Britain became one of the world's largest exporters and the area formed the heart of the East London economy. The city quickly grew around the docks, because industry and warehouses were built around the docks to store and manufacture goods. The docklands reached their peak in the late 1930s, becoming the busiest port in the world. Later it was bombed by German zeppelins during the WWII and fell into obsolescence during the late 1970s, mainly due to the rise of shipping containers and super-size cargo ships that The Docklands was too small to accommodate, while technology siphoned off most of the docks' need for manpower. The old London docks fell silent until the London Docklands Development Corporation transformed it into a center for trade in 1980s and 1990s. Canary Wharf is an obvious success story. But its transformation from historic hub of the world's greatest trading empire to futuristic metropolis is not yet complete.The next financial districtBoarding the Docklands' light railway at Canary Wharf and you can thread through the cityscape to the area further east of the docklands. As you approach the Royal Docks, you'll see the Thames cable car (also known as the Emirates Air Line) flitting between the docks and Greenwich Peninsula at a height of 90 meters."This is an emerging part of London," Danny Price, Transport for London's Operations Manager for Emirates Air Line, told the Global Times, adding that the cable car opened just before Olympic Games two years ago has since carried 4 million visitors. It is ranked by visitors as "one of the top 10 experiences in London. It helps symbolize this area as one of the fastest growing in London," Price said.The Emirates Air Line, DLR, the City Airport and the upcoming Crossrail high-speed train make the docklands one of the best-connected places in London. The City Airport was opened in the late 80's and is the only airport actually in the city of London, while the Crossrail high speed train will reach completion in 2018. Its revolutionary design will enable passengers to get to central London in 15 minutes from the Docklands.With these improvements, the area is well on its way towards regeneration. A case in point is the creation of a third financial center in addition to the long established "City of London" and Canary Wharf. The Chinese property company Advanced Business Park (ABP) is planning to transform the Royal Albert Dock into London's next business district. The £1 billion ($1.65 billion) plan to create an Asian business district will go ahead after the local council gave planning permission in July this year. It is believed that the scheme will create 20,000 jobs.An innovation flagshipIn late July, the Mayor of London Boris Johnson revealed that Carillion Igloo Genesis had won the competition to design and build Britain's first "floating village." The scheme would turn the Royal Victoria Dock, which was an industrial powerhouse for more than a century, into a modern day Venice.The 15-acre site next to the Emirates Air Line will have an array of brightly colored houses, bars and restaurants, a watersports zone, and floating studios. The project involves a Dutch company with ample experience building durable homes on water.On the other side of the vibrant floating village, developers want to transform a long-abandoned 0.25-square-kilometer site at Silvertown Quays into a new east London neighborhood with up to 3,000 homes, a large piazza, more than a mile of waterfront, and a collection of "brand flagship" pavilions for some of the world's biggest companies.Explaining the "brand pavilions" at the heart of the development, Olaide Obah, Marketing Director of Silvertown Partnership, said the rise in online and mobile shopping has changed the role of physical space, making it less about selling and more about the experience. Obah said that companies are seeking large, flexible space where they can inspire consumers with their story and products. Existing examples include World of Coca-Cola in Atlanta and Johnnie Walker House in Shanghai. The Silvertown will provide space for brands to tell their story, including areas for research, development, testing, and showcasing. The project will center on the vast Art Deco Millennium Mills, the last surviving disused flour mill on the Thames. The London mayor said it would "return Silvertown Quays to its former glory" and help "unlock the economic potential of surrounding areas."After decades in the doldrums, London's eastern docklands are finally seing rejuvenation, brought about by a wave of varied developments. (c) 2014 Global Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |